Notes archive.
Bharat Forge teams up with AM General for artillery exports
KSSL, Bharat Forge's defence arm, partners with a U.S. military vehicle specialist to sell the MArG 155mm platform globally, including a bid for the US Army's Mobile Tactical Cannon program.
BR Goyal lands ₹13 cr civil order at Ratlam industrial park
The ₹13.05 crore contract from LNJ Greenpet covers roads, drains and culverts at a Mega Smart Industrial Area, adding to an order book of ₹1,235 crore.
Retaggio puts ₹10 cr into Mumbai property, its biggest capital move yet
Board approves property purchase worth 8% of market cap; also converts eighth tranche of warrants
Mangalam Industrial's auditor resigned in May, then signed off June results
Mahesh Udhwani & Associates quit over non-cooperation but still cleared FY26 numbers. The company disclosed the resignation 35 days later, blaming oversight.
ICRA assigns initial rating to Manaksia Steels, matching CARE grade
Fresh ICRA rating for ₹500 cr bank facilities is an initial assignment, not a revision, and mirrors existing CARE ratings. Nano-cap market cap is ~₹453 cr, making rated facilities 113% of size.
Aequs maps 4x-6x revenue jump by 2031, but Hasbro loss clouds trajectory
First-ever Investor Day lays out quantified targets: **$350-450M** capex, **18-22%** EBITDA margins, **20%** ROCE. Current quarter losses and a lost toy contract remain unaddressed.
P&G Health's FY26 sales up 16%, profit up 30%; innovation and distribution gain
Concall confirmed strong revenue and profit growth. New products beat expectations, distribution added 30k extra-urban pharmacies. No FY27 guidance but management sees sustained momentum.
Afloat promoter Rukmani Mittal sells 2.07% stake in two days
Rukmani Devi Mittal reduced her stake from 3.35% to 1.27% of Afloat Enterprises, days after fellow promoter Kiran Mittal sold 4.53%, as the nano-cap struggles with a 70% revenue drop in FY26.
VMS TMT promoters cancel ₹5.95 cr inter-se transfer
A proposed acquisition of 13,22,154 shares (2.66% stake) at ₹45 per share was withdrawn a week after being announced. No reason was given, leaving promoter shareholding unchanged.
GMR Power promoters pledge 2.82% more equity, total encumbrance hits 61.07%
Promoter entity GMR Enterprises pledged shares valued at ₹232 cr to secure ₹300 cr of unrated NCDs for personal use. The low coverage ratio of 0.77 signals high borrowing strain.
Aadhar Housing raises ₹250 cr via NCD private placement
The three-year floating-rate notes (3-month T-bill plus spread) carry an ICRA AA Positive rating. The raise is about 1.2% of market cap, an incremental treasury operation, not a strategic event.
Southern Magnesium faces ₹30 lakh GST notice, exceeds annual profit
The demand for alleged short payment of output tax over 10 months is material for the nano-cap. Its entire FY26 profit was just ₹12.6 lakh.
Cohance promoters pledge 54% of equity to refinance $285M debt
Jusmiral Holdings and Berhyanda have gone from zero encumbrance to pledging their entire stake. The loan amounts to 14.5% of market cap.
HPCL JV's fire-damaged CDU back online; diesel dispatches begin this week
Restoration of crude distillation unit at HPCL Rajasthan Refinery completed faster than worst-case scenarios; motor spirit production next week.
Maiden Forgings MD cuts peak revenue target, admits past mindset issues
Nishant Garg downgrades expanded capacity potential to ₹550-600 cr from ₹700-800 cr, flags internal problems before Oct '23, and lays out a ₹1,000 cr revenue roadmap by FY30.
Saint-Gobain Sekurit gets a new CFO in a smooth handover
CFO Senthil Nathan resigns for family reasons; Vidya Shankar, a 16-year group veteran, steps in three days later. No other material reasons cited.
Lloyds Enterprises buys 88% of Steel Infra Solutions for ₹1,073 cr
The acquisition, via cash and share swap, adds a heavy steel fabrication firm with ₹816.87 cr revenue and a 30-month listing roadmap.
Lloyds Engineering buys SISCOL for ₹1,073 cr to build ₹10,000 cr revenue platform
The structural steel fabricator adds ₹817 cr in revenue and a ₹1,134 cr order book. Founder Ravi Uppal stays on to lead the acquired entity.
Lloyds Engineering buys 52% stake in SISCOL for ₹635 cr
The deal brings former JSPL MD Ravi Uppal's company under its fold, adding ₹817 cr revenue and 100,000 MTPA capacity. Combined entity creates an integrated engineering and EPC platform.
Finkurve adds a second ₹50 cr NCD plan to fund AUM growth
Board to consider new ₹50 crore NCD issuance on June 24, separate from the ₹100 crore plan approved earlier this month.
Bacil Pharma proposes R&D arm, but numbers are missing
The nano-cap with zero revenue wants a wholly-owned R&D subsidiary. No investment amount or timeline disclosed, just an intent.
Bandhan MF buys into SH Kelkar, just crossing the 5% threshold
A ₹2 crore open-market purchase lifts Bandhan's stake to 5.0064% in the fragrance maker. For a ₹1,898 cr company, the signal is stronger than the money.
Allied Digital elevates Nehal Shah to Joint MD, appoints ex-NTT Data exec
The board also redesignates CEO Paresh Shah as Chief Innovation Officer as the company sharpens focus on AI and cloud.
Mizzen Ventures raises ₹10 cr via preferential issue to outsiders
The nano-cap issues 8 lakh shares at ₹125 each to 24 non-promoter investors. The raise is 3.3% of its ₹299 cr market cap.
Amber subsidiary IL JIN buys out minority in Ascent Circuits for ₹336.75 cr
IL JIN Electronics is raising its stake in the PCB maker from 60% to 98.5%, paying ₹336.75 crore in cash. The deal consolidates control over a ₹401.87 crore-turnover subsidiary at 1.2% of Amber's market cap.