Notes archive.
Affle promoters borrow $170M against entire 54.9% stake, plan buybacks
The promoters disclosed the first quantified breakdown of a $80M-$170M facility secured by their entire holding, with up to $70M earmarked for share repurchases and a mandatory $90M for preferential issuance.
Royal India's audit error fixed, but story hasn't changed
The company corrected a qualified opinion to unmodified; financials identical. Bullion revenue still zero, profit relied on one-time other income.
Onix Solar promoter sells ₹26 cr of shares, stake dips to 54.60%
Promoter Onix Renewable sold 1.84% equity off-market just after a ₹60 cr rights issue. The signal is mild but notable.
JSW Energy switches on 150 MW Tidong hydro project early
The 150 MW addition adds just 1.1% to capacity and was already telegraphed, making it a routine milestone for a company of its size.
Bodhi Tree targets ₹250 cr revenue in three years as IP push takes shape
Q4 FY26 margin hit 16.52%. The ₹118 cr nano-cap now owns stakes in Moving Images and Lehren Networks. It must prove it can deliver on ambitious targets.
GIC pares Sapphire Foods stake to 5.003% in ₹68 cr sale
Singapore sovereign wealth fund sold 4 million shares, cutting holding from 6.248% to 5.003%. The sale falls below the 3%-of-market-cap materiality threshold but signals softening conviction.
RLF to convert promoter loan into equity, terms unknown
A board meeting will consider preferential allotment to turn debt into equity. No loan size or conversion price disclosed yet.
Monarch Surveyors lands ₹5.25 cr CIDCO contract for village surveys
The government-backed order adds to a ₹750 cr order book and provides near-term revenue visibility, though it is modest against the company's quarterly run-rate of ₹100 cr.
Constronics Infra gets qualified audit over ₹5.87 lakh seizure
The nano-cap's FY26 audited results include a qualified opinion for a seizure by an investigating agency, though the amount is just 0.01% of its ₹55 cr market cap.
Axiscades sells aerospace engineering unit to Akkodis for $206.3M
The deal is structured in two tranches: an upfront 51% for $77.7M, with the remaining 49% after two years for $76M plus up to $52.6M in earn-outs. Proceeds will fund core aerospace, defence, and ESAI acquisitions.
Jayant Infratech wins ₹16.54 cr railway order from SEC Railway
The order is 24.7% of market cap and 14.8% of FY26 revenue, but comes after a year of falling sales and negative cash flow.
MSP Steel large shareholder cuts 2.27% stake in five days
Swagat Trexim Private Limited reduced its holding from 5.98% to 3.71% in early June 2026, crossing the 2% disclosure threshold, but the sale does not affect operations.
Afcom plans to double revenue as fleet expands to nine aircraft
FY26 revenue surged 144% to ₹587.72 cr; profit up 230% to ₹121.90 cr. Fleet to grow from 3 to 9 aircraft, including Boeing 777s, via ₹200 cr each preferential and QIP. MRO in Q1 FY27; exploring Pacific JV.
Artson lands ₹5.40 cr order from Deepak Chem Tech, diversifying beyond Tata Group
The two-phase order for 15 vessels adds to recent wins from Reliance and Anuppur, providing near-term revenue visibility despite modest size.
Vivanta's pharma pivot: a deal with no numbers
The engineering nano-cap says it will make and market drugs for Qness Pharmaceuticals, a proprietorship. No upfront payment, no guaranteed order, and no financial terms disclosed.
Ritesh International's ₹51 lakh tax payment signals profit rebound
Advance tax installment is 1.2% of market cap, up sharply from ₹10-32 lakh in prior quarters, despite a 48% Q4 profit drop.
RACL Geartech lands global OEM contracts, enters new segments
Four new nominations from Royal Enfield, Kawasaki, ZF, and BRP Canada expand revenue visibility and product lines for the ₹1,475 cr auto ancillary firm.
Concord Biotech clears ANVISA hurdle, opens Brazil API market
ANVISA inspection at Limbasi facility passed; exports to Brazil now permitted. No revenue estimate provided. Concord's trailing revenue is ₹1,054 cr.
Global Health lands LOI for 150-MBBS-seat college at Medanta Gurugram
The Haryana government's Letter of Intent clears the way for a teaching hospital; neither a timeline nor a capex figure was disclosed.
Kirloskar Ferrous profits double on ₹141 cr tax gain from merger
Profit hits ₹504.74 cr but revenue up only 4.6%; one-time deferred tax asset masks operating performance.
SMT Engineering extends ₹13.75 cr guarantee to subsidiary
Routine intragroup guarantee for cash credit limit enhancement; no immediate revenue impact beyond contingent liability.
A-1 Ltd lands ₹35 cr supply orders, 9% of market cap
The nano-cap chemicals supplier wins repeat business from Solar Group and Deepak Fertilizers' subsidiary, with delivery scheduled for June 2026, strengthening near-term revenue visibility substantially.
HOEC targets 10x production jump in three years
Management sees 10,000-11,000 boe/d by June 2027 and 32,000-33,000 by 2029, backed by a 20-well drilling program. HPCL crude sale being resold, cash in 2-3 months. No equity raise planned.
Sayaji Hotels promoter snaps up 4.9% as two other promoters exit
Zuber Dhanani bought shares worth ₹16.6 cr on June 11, while Zoya Dhanani sold her entire 4.16% and Kayum Dhanani offloaded 0.59%, clearly an internal reshuffle within the promoter group.
Alembic gets USFDA nod for generic Retin-A — but market is small
The $76 million US market for Tretinoin Cream is less than 1% of Alembic's annual revenue, making this a routine pipeline addition.