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India Pre-Market Regulatory Roundup — October 07, 2026

India Before-Market Intelligence

By Gunpowder Editorial ·

9 high priority 41 medium priority 50 total filings analysed

Executive Summary

This overnight filing cycle reveals a market bifurcated between aggressive growth plays and acute distress. The standout theme is a surge in capital markets activity: Kanohar Electricals (post-IPO) and ARCIL (post-IPO) are deploying fresh equity to scale, while PTC Industries launches a QIP at a steep floor price.

However, this optimism is sharply contrasted by severe credit events—RCOM's spectrum termination and Spright Agro's NCLT admission—which are high-impact, binary risks. A secondary theme is the deepening of the auto ancillary ecosystem, with Gabriel India's JV with FORVIA signaling a strategic pivot into passenger vehicle seating. From a portfolio perspective, revenue growth is robust (Karamtara +72% YoY, Kanohar +103% YoY), but margin compression is a persistent headwind, with EBITDA margins contracting 200+ bps in some cases. Insider activity is absent, but capital allocation is clear: companies are prioritizing growth capex and M&A over shareholder payouts. The most actionable intelligence lies in the divergence between high-growth, margin-sensitive industrials and distressed balance sheets facing existential regulatory threats.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Corporate governance · Debt securities · Insolvency · M&A · Corporate action

Tracking the trend? Catch up on the prior India Pre-Market Regulatory Roundup digest from October 06, 2026.

Investment Signals (10)

  • Revenue doubled (+103.5% YoY) to ₹137 Cr with PAT surging 140% YoY; EBITDA margin expanded 550 bps to 28.3% despite a slight GPM decline. Order book of ₹2,026 Cr provides 18-24 months visibility. Post-IPO listing on Sep 16, 2026, this is a high-growth, margin-expanding story

  • ▲

    JV with FORVIA (Faurecia Anand Seating) targets 10% market share in passenger vehicle seats within 5 years. Gabriel's 50% less 1 share stake for ₹49.99 Cr is a low-cost entry into a powertrain-agnostic, high-value segment. FORVIA's control (50%+1) de-risks execution

  • ARCIL (Standalone) (BULLISH)
    ▲

    PAT surged 107% YoY to ₹143.14 Cr, driven by a massive spike in recovery of written-off security receipts (₹120.15 Cr vs ₹3.16 Cr YoY). Post-IPO (Sep 17, 2026), the company is monetizing its distressed asset portfolio aggressively

  • Revenue surged 72% YoY to ₹15,809 Mn, with renewable products (82% of rev) and exports (66%) as key drivers. Customer concentration de-risked: top 10 customers fell from 63.5% to 51.4% of revenue over 2 years

  • ▲

    QIP floor price set at ₹22,150/share, with up to 5% discount permitted. This capital raise at a high absolute price signals strong institutional appetite and management confidence in growth trajectory

  • ARCIL (Consolidated) (BEARISH)
    ▲

    Consolidated PAT grew a more modest 54% YoY to ₹89.15 Cr, as the group booked a net loss on fair value changes of ₹17.59 Cr and finance costs surged 688% YoY to ₹24.99 Cr. The standalone-to-consolidated gap reveals subsidiary drag

  • EBITDA margin contracted from 13.1% to 11.0% YoY, and PAT margin fell from 6.6% to 5.5%, indicating significant cost pressures despite robust 72% revenue growth. This is a classic growth-vs-profitability tension

  • DoT terminated all spectrum (2010-2016 auctions) citing roll-out violations and non-payment. This is a terminal event for the resolution plans sub-judice at NCLT, creating a total loss scenario for creditors and equity holders

  • ▲

    NCLT admitted CIRP under Section 9 IBC. Board powers suspended, IRP appointed. This is a binary credit event with near-zero recovery for equity

  • GST demand order of ₹95.3 Lakhs under Section 74(1) for ITC disallowance and corporate guarantee tax. While the company plans to appeal, the allegation of 'excess claim' is a material litigation risk

Risk Flags (10)

  • ARCIL / Capital Adequacy [HIGH RISK]
    ▼

    Standalone CAR declined sharply from 88.83% to 72.49% YoY, signaling a weakening capital buffer post-IPO despite profit growth. This is a critical solvency metric for an ARC

  • ARCIL / Finance Cost Surge [HIGH RISK]
    ▼

    Finance costs on a standalone basis surged 688% YoY to ₹24.99 Cr, indicating the cost of the deleveraging/IPO process is high and may compress future margins

  • EBITDA margin contracted 210 bps YoY (13.1% to 11.0%) despite 72% revenue growth. If this trend continues, the company may face a growth-profitability trade-off that pressures valuations

  • A district court partially set aside an arbitral award of ~₹13.41 Cr in favor of its subsidiary, citing mechanical reasoning by the tribunal. The ambiguous judgment creates legal uncertainty and potential write-off risk

  • ▼

    ROC imposed penalties of ₹6.27 Lakhs on the company and officers for delays in SBO filings. While financially immaterial, the voluntary admission of non-compliance signals weak governance controls

  • A show cause notice for ₹28.55 Cr in alleged excess ITC, plus ₹22.44 Cr interest and ₹5.71 Cr penalty. While preliminary, the quantum is material (₹56.7 Cr total) for a single-year issue

  • Vajra 010 Trust / Securitization Stress [HIGH RISK]
    ▼

    PAR (principal at risk) stands at a high 27.15%, with 45 loans overdue >180 days. The A1 tranche has shrunk from ₹50 Cr to ₹14 Cr, indicating significant credit impairment in the Veritas Finance pool

  • Vajra 009 Trust / Tranche Payment Interruption [HIGH RISK]
    ▼

    The A1 tranche received zero principal or interest payments this month, while A2 was serviced. This subordination event signals severe stress in the senior tranche of the pool

  • The DoT's termination of all spectrum rights is a terminal event for the company's resolution plans. The Supreme Court judgment (Feb 2026) provides legal cover, making an NCLT reversal unlikely

  • ▼

    NCLT admission under Section 9 IBC is a terminal credit event. The IRP appointment means equity is effectively wiped out; recovery for unsecured creditors is uncertain

Opportunities (9)

  • Listed Sep 16, 2026, with a record order book of ₹2,026 Cr. FY27 revenue target of ₹950 Cr implies ~3.5x revenue growth from Q1 run-rate. The 400kV transformer segment (52.2% of mix) is a high-margin, high-barrier-to-entry play

  • ◆

    The JV targets 10% market share in India's passenger vehicle seat market within 5 years. Gabriel's 50% less 1 share structure allows it to participate in a high-growth segment with limited capital at risk (₹49.99 Cr)

  • ARCIL / Recovery Surge (OPPORTUNITY)
    ◆

    The 107% YoY standalone PAT growth was driven by a massive spike in recovery of written-off security receipts (₹120.15 Cr vs ₹3.16 Cr YoY). If this recovery momentum is sustainable, ARCIL could re-rate and expand its AUM share (currently 15%)

  • The floor price of ₹22,150 with up to 5% discount creates a potential entry point for institutional investors. The QIP is a signal of management's intent to raise growth capital at a premium valuation

  • Acquiring a retail unit at FIFC, BKC for ₹54.5 Cr (₹6,770/sq. ft. leasable area) in a prime Mumbai micro-market. The property is occupied by reputed food chains, providing immediate yield. Independent valuations confirm pricing

  • The ₹3,500 Cr GDV project in Baner Annex, Pune, with Phase 1 of 1,236 units. IGBC Gold pre-certification and Net Zero Waste positioning cater to the premium, ESG-conscious buyer. Baner Annex's connectivity to Hinjawadi IT hubs is a strong demand driver

  • Two subsidiaries upgraded (to ICRA AA- and A-), reflecting improved credit profile post-₹1,800 Cr IPO. This could lower borrowing costs and improve terms for project financing, especially ahead of the April 2027 interest rate reset

  • NCLT approval for Clean Coats amalgamation will simplify management and reduce redundancies. No consideration issued (100% subsidiary), making this a cost-neutral operational efficiency play

  • Vajra 007 Trust / AAA(SO) Upgrade (OPPORTUNITY)
    ◆

    The sole rated tranche was upgraded from AA+(SO) to AAA(SO), and the pool shows 98.89% cumulative collection efficiency. With 0.0 months weighted average life, this is a fully seasoned, high-quality pool offering a rare AAA-rated PTC exposure

Sector Themes (6)

  • Auto Ancillary Deepening
    ◆

    Gabriel India's JV with FORVIA marks a strategic shift into passenger vehicle seating, a powertrain-agnostic segment. This reflects a broader trend of Indian auto component makers partnering with global majors to capture EV and premium vehicle growth, reducing dependence on traditional 2-wheeler/3-wheeler segments.

  • Post-IPO Capital Deployment
    ◆

    Both Kanohar Electricals (listed Sep 16) and ARCIL (listed Sep 17) are deploying IPO proceeds aggressively—Kanohar into order book execution and ARCIL into recovery and AUM expansion. The market is rewarding this with strong Q1 performance, but margin compression (Karamtara) and finance cost surges (ARCIL) are emerging as watchpoints.

  • Securitization Pool Stress
    ◆

    Three Veritas Finance-originated PTC pools (Vajra 007, 009, 010) show divergent performance. While Vajra 007 is AAA-rated and fully seasoned, Vajra 009 and 010 show PAR >27% and tranche payment interruptions. This bifurcation within the same originator's book signals underwriting inconsistency and concentration risk for investors in lower-rated tranches.

  • Regulatory and Credit Distress Escalation
    ◆

    The cycle saw two terminal credit events (RCOM spectrum termination, Spright Agro CIRP) and three material tax/regulatory disputes (A-One Steels, Tenneco Clean Air, JK Cement). This cluster suggests a tightening enforcement environment, particularly in telecom and GST compliance, which could create a 'distress cascade' for leveraged entities.

  • Renewable Energy Infrastructure Boom
    ◆

    Karamtara Engineering (82% revenue from renewables) and Juniper Green Energy (credit upgrades post-IPO) both highlight strong tailwinds in the renewable energy supply chain. However, margin pressure (Karamtara) and counterparty risk (Juniper's MSEDCL exposure) are structural risks in this theme.

  • ETF and Passive Fund Flows
    ◆

    HDFC's ETF suite shows a clear rotation: outflows from banking sector ETFs (Nifty Bank -12.5k units, Private Bank -50k units) and inflows into Metal (+40k units) and Smallcap (+31.85L units). This signals a rotation from financials into commodities and small-cap equities, a potential leading indicator of sector rotation.

Watch List (8)

  • ARCIL
    👁

    Watch for Q2 FY27 results to see if the recovery surge (₹120 Cr in Q1) is sustainable or a one-off. Also monitor CAR trend (72.49%) and finance cost trajectory. Earnings call expected late Oct 2026.

  • NCLT proceedings on resolution plans are now sub-judice post-spectrum termination. Watch for any NCLT order on whether the DoT's termination voids the resolution plans. This is a binary event for creditor recovery.

  • CIRP process now underway. Watch for the IRP's first report, expression of interest timeline, and any potential resolution applicant. Equity is likely wiped out, but the process timeline is critical for creditors.

  • With a ₹2,026 Cr order book and FY27 revenue target of ₹950 Cr, watch for Q2 execution. Any slippage in order conversion or margin expansion (currently 28.3%) will be a key test of the post-IPO growth story.

  • PTC Industries QIP
    👁

    The QIP floor price of ₹22,150 is a high bar. Watch for the final issue price, discount offered, and institutional subscription levels. A successful QIP at near-floor price would be a strong validation of valuation.

  • Transaction expected to close by end of 2026. Watch for CCI and other regulatory approvals. Any delay or condition imposed by regulators could alter the JV's economics.

  • The GST SCN for ₹56.7 Cr is at a preliminary stage. Watch for the company's detailed response and any adjudication order. A material adverse order could impact cash flows and margins.

  • The proposed shift of registered office from Karnataka to West Bengal is in the objection phase. Watch for shareholder voting outcome and any state-level tax or incentive implications that could impact the P&L.

Filing Analyses (50)
Juniper Green Energy Ltd Market Notice positive materiality 7/10

06-10-2026

Juniper Green Energy Ltd (JGEL) announced that ICRA and India Ratings have upgraded credit ratings for two wholly owned subsidiaries: Nisagra Renewable Energy Private Limited (upgraded to [ICRA]AA- (Stable) from [ICRA]A+ (Stable)) and Juniper Green Cosmic Private Limited (upgraded to A- (Stable) from BBB+ (Stable)). The upgrades reflect JGEL's improved credit profile following a successful ₹1,800 crore IPO in August 2026, which deleveraged the balance sheet and strengthened its capital structure. However, the subsidiaries face challenges including sensitivity to generation performance, counterparty credit risk from single buyer MSEDCL, and interest rate reset risk in April 2027.

  • · NREPL's 70-MW solar project achieved commercial operations between December 2019 and March 2020.
  • · Grid availability for NREPL was ~95% (95.21% in FY2026), lower than plant availability of 98.76%, due to connection to 11-kV agricultural feeders.
  • · Interest rate on NREPL's long-term loan is due for reset in April 2027.
  • · Lender has a put option after the 15th year from initial disbursement, exposing NREPL to refinancing risk.
  • · JGEL's operational portfolio is expected to increase to over 3 GWp renewable and ~1.4 GWh BESS by March 2027.
  • · JGEL has a development pipeline of ~5.1 GWp renewable and ~4.9 GWh BESS with LOAs secured.
3M India Limited Market Update neutral materiality 3/10

06-10-2026

3M India Limited disclosed that CFC Finlease Private Limited has assigned an ESG rating of 77 (Grade B+, 'Very Good') to the company, based on publicly available data. The company did not engage CFC Finlease for this rating. The disclosure is made under Regulation 30 of SEBI Listing Regulations.

  • · ESG rating of 77 (Grade B+, 'Very Good') assigned by CFC Finlease.
  • · The company did not engage CFC Finlease for the rating; it was independently prepared from public data.
  • · Disclosure made under Regulation 30 of SEBI Listing Regulations and SEBI Master Circular dated January 30, 2026.
Mahindra Lifespace Developers Limited Market Notice positive materiality 5/10

06-10-2026

Mahindra Lifespace Developers Ltd. launched Mahindra Rivenza, a residential development in Baner Annex, Pune, spanning 13.46 acres with a Gross Development Value (GDV) of approximately ₹3,500 crore. Phase 1 will introduce 1,236 units across 2, 3, and 4 BHK residences. The project is IGBC pre-certified Gold and aims to be Net Zero Waste, featuring extensive amenities including one of the largest clubhouses in the township. No financial performance comparisons or negative metrics are provided in this launch announcement.

  • · The development is IGBC pre-certified Gold and aims to be Net Zero Waste.
  • · Amenities include a swimming pool with sunken bar, signature giant swings, stargazing hammocks, gymnasium, badminton courts, squash court, pickleball court, cycling/jogging tracks, library with glass roof, and children's play area.
  • · Baner Annex is emerging as a well-connected residential micro-market with access to Hinjawadi and Baner IT hubs and GCCs.
  • · Mahindra Lifespaces has a 100% Green portfolio since 2014 and is working towards carbon neutrality by 2040.
  • · The company has launched India's first three Net Zero residential developments.
Gabriel India Limited Corporate Governance positive materiality 8/10

06-10-2026

Gabriel India Limited's Board approved a Joint Venture with Faurecia Automotive Seating India Private Limited (FASI) to form a new company, Faurecia Anand Seating India Private Limited, focused on passenger vehicle seats. Gabriel India will invest a total of ₹49,99,99,990 (₹49.99 Cr) for a 50% less 1 equity share stake, while FASI will hold 50% plus 1 share with a total investment of ₹50,00,00,010 (₹50.00 Cr). The JV aims to diversify Gabriel India's business into a powertrain-agnostic product segment within the automotive components industry.

  • · The JV Co. will be named Faurecia Anand Seating India Private Limited (or as approved by ROC).
  • · Board composition: 6 Directors (3 from each party); Chairman (with casting vote) to be nominated from FASI Directors.
  • · COO to be appointed by FASI; Dy. COO to be appointed by Gabriel India.
  • · Certain reserved matters require affirmative votes of both Gabriel India and FASI.
  • · The JV Co. will acquire FASI's existing frames business on a slump sale basis via BTA.
  • · Technical assistance will be provided by Forvia (France) and Faurecia India under TIPLA.
  • · Operational and management support services will be provided by AAPL and FASI under separate CSAs.
  • · Completion target date: 31st December 2026.
  • · The initial subscription at incorporation is not a related party transaction; post-incorporation, JV Co. will become an Associate of Gabriel India.
Asset Reconstruction Company (India) Ltd Corporate Governance mixed materiality 8/10

06-10-2026

Asset Reconstruction Company (India) Ltd (ARCIL) reported its first audited standalone and consolidated financial results post-IPO for the quarter ended June 30, 2026. Standalone profit after tax (PAT) surged 107% YoY to ₹143.14 Cr, driven by a sharp increase in recovery of security receipts and fees written off earlier (₹120.15 Cr vs ₹3.16 Cr YoY). However, consolidated PAT attributable to the company grew a more modest 54% YoY to ₹89.15 Cr, as the group booked a net loss on fair value changes of ₹17.59 Cr and a share of loss from associates of ₹4.17 Cr, while the capital adequacy ratio (CAR) declined to 72.49% from 88.83% a year ago.

  • · The company's IPO of 5,27,31,946 equity shares (face value ₹10) was an Offer for Sale at ₹139 per share; shares listed on NSE and BSE on September 17, 2026.
  • · Standalone net gain on fair value changes (unrealised) was ₹23.58 Cr in Q1 FY27 vs ₹27.15 Cr in Q1 FY26.
  • · Consolidated net loss on fair value changes (unrealised) was ₹17.59 Cr in Q1 FY27 vs nil in Q1 FY26.
  • · Consolidated share in profit/(loss) of associates was a loss of ₹4.17 Cr in Q1 FY27 vs a loss of ₹1.23 Cr in Q1 FY26.
  • · Consolidated profit attributable to non-controlling interest (SR holder) was a loss of ₹34.25 Cr in Q1 FY27 vs a loss of ₹7.52 Cr in Q1 FY26.
  • · Standalone impairment on financial instruments was ₹22.20 Cr in Q1 FY27 vs ₹2.20 Cr in Q1 FY26.
  • · Standalone finance costs rose to ₹24.99 Cr in Q1 FY27 from ₹3.17 Cr in Q1 FY26.
A-One Steels India Ltd Market Update negative materiality 6/10

06-10-2026

A-One Steels India Ltd received a GST demand order under Section 74(1) of the GST Act, 2017 from the Andhra Pradesh tax authority, dated September 24, 2026, but received at the registered office on October 6, 2026. The order alleges disallowance/excess claim of Input Tax Credit (ITC) and tax on corporate guarantee, with a total demand of ₹95,30,874 (including tax, interest, and penalty). The company is assessing legal grounds to file an appeal and states there is no impact on regular business operations.

  • · Order received late due to statutory/weekly holidays on October 2, 3, and 4, 2026 at the factory outlet.
  • · The company intends to file an appeal before the appellate authority within the stipulated timeline.
  • · The alleged violations are disallowance/excess claim of ITC and tax on corporate guarantee under GST Audit.
Karamtara Engineering Ltd Analyst/Investor Meet mixed materiality 8/10

06-10-2026

Karamtara Engineering reported strong Q1 FY27 results with revenue surging 72% YoY to ₹15,809 Mn, driven by renewable products (82% of revenue) and exports (66%). However, EBITDA margin contracted from 13.1% to 11.0% YoY and PAT margin fell from 6.6% to 5.5%, indicating cost pressures despite robust growth. The company also commenced operations at its Bhachau facility for lattice towers and solar structures, and sustained strong export momentum.

  • · The company's revenue retention rate is 45.49% from customers associated for at least two years in FY26.
  • · Top 10 customers contributed 51.37% of revenue in FY26, down from 63.47% in FY24, indicating de-risking of customer concentration.
  • · Largest customer contribution to revenue decreased from 18.93% in FY24 to 7.98% in FY26.
  • · Net working capital days improved from 67 in FY24 to 43 in FY26, a reduction of 35.8%.
  • · Net Debt to EBITDA improved from 1.76x in FY24 to 1.41x in FY26.
  • · RoE improved from 18.13% in FY24 to 24.15% in FY26; RoCE improved from 20.77% to 23.27%.
  • · The company has 13 manufacturing facilities across India, Italy, and USA, with a new facility under construction in Saudi Arabia.
  • · The company was incorporated in 1996 and has evolved into one of India's largest integrated manufacturers of steel infrastructure for transmission and renewable energy.
  • · The earnings call for Q1 FY27 is scheduled on October 07, 2026 at 11:00 AM.
RITES Limited Market Notice neutral materiality 3/10

06-10-2026

RITES Limited announced the appointment of Dr. Sandeepa Malhotra (DIN:11660579) as a Non-Official (Independent) Director on its Board, effective October 06, 2026, for a three-year term or until further orders, as approved by the President of India. Dr. Malhotra brings 28 years of academic experience in MBA and Business Economics, with a Ph.D. and M.B.E., and has authored 38+ research papers. The appointment is a routine board change with no financial impact, and the company confirmed she is not debarred by any SEBI order.

  • · Appointment effective October 06, 2026, for a period of three years or until further orders, whichever is earlier.
  • · Dr. Malhotra holds a Ph.D. and Master’s degree in Business Economics (M.B.E.).
  • · She has served as Executive Member, Rapporteur and Co-Chairperson in the Indian Economic Association.
  • · Dr. Malhotra is not related to any other director of the company.
  • · The appointment was approved by the Hon’ble President of India via Ministry of Railways letter no. 2026/PL/57/18 dated 06.10.2026.
Asset Reconstruction Company (India) Ltd Market Update mixed materiality 8/10

06-10-2026

Asset Reconstruction Company (India) Ltd reported standalone profit after tax of ₹143.14 Cr for Q1 FY27 (June 30, 2026), up 107.2% YoY from ₹69.08 Cr in Q1 FY26, driven by a surge in recovery of security receipts and unrealized fees (₹120.15 Cr vs ₹3.16 Cr). Total revenue from operations grew 132.5% YoY to ₹274.03 Cr. However, on a consolidated basis, profit after tax attributable to the company was ₹89.15 Cr, up 54.1% YoY, but net loss on fair value changes of ₹17.59 Cr and higher finance costs (₹24.99 Cr vs ₹3.17 Cr YoY) partially offset gains. The company's IPO of 5,27,31,946 equity shares (entirely an Offer for Sale) was listed on NSE and BSE on September 17, 2026.

  • · Standalone capital adequacy ratio (CAR) was 72.49% as of June 30, 2026, down from 88.83% a year earlier.
  • · Consolidated net worth stood at ₹3,024.65 Cr as of June 30, 2026, up from ₹2,712.27 Cr a year ago.
  • · Finance costs on a standalone basis surged to ₹24.99 Cr in Q1 FY27 from ₹3.17 Cr in Q1 FY26, a 688% increase.
  • · Impairment on financial instruments (standalone) rose to ₹22.20 Cr from ₹2.20 Cr YoY.
  • · The IPO was a 100% Offer for Sale by selling shareholders; the company received no proceeds.
  • · The auditor's report is unmodified (clean opinion) for both standalone and consolidated results.
Persistent Systems Limited Market Notice neutral materiality 3/10

06-10-2026

Persistent Systems Limited announced the voting results of its Extra Ordinary General Meeting (EGM) held on October 5, 2026, as per SEBI LODR Regulation 44(3). The detailed report on votes cast through remote e-voting, e-voting at the EGM, and ballot paper is attached. No specific resolutions or vote outcomes are disclosed in this notice.

  • · EGM held on October 5, 2026
  • · Voting conducted via remote e-voting, e-voting at EGM, and ballot paper
  • · Scrutiniser's Report dated October 6, 2026
  • · Company Secretary: Amit Atre, ICSI Membership No.: A20507
HCL Infosystems Limited Market Update negative materiality 7/10

06-10-2026

HCL Infosystems' wholly owned subsidiary, HCL Infotech Limited, has received a judgment from the Principal District Judge, Muzaffarpur, Bihar, which partially sets aside an arbitral award in its favor. The court allowed the objection petition filed by Uttar Bihar Gramin Bank (UBGB), holding that the arbitral tribunal failed to properly justify the termination's invalidity and the 18% interest rate, but left severable claims unaffected. HCL is evaluating the ambiguous judgment and considering an appeal before the Patna High Court.

  • · The judgment was passed on 16.09.2026 and received by HCL on 06.10.2026.
  • · The original arbitral award dated 29.10.2019 allowed claims of approx. ₹13.41 Crore with 18% per annum interest and ₹20 lakh costs, and rejected UBGB's counterclaims.
  • · The court held that the tribunal mechanically relied on Section 31(7) of the Arbitration and Conciliation Act, 1996 without examining the applicable statutory provision or recording reasons for the 18% interest rate.
  • · Claims of HCL that are independent of the legality of termination and are legally and factually severable remain unaffected.
  • · HCL is evaluating the judgment and considering filing an appeal before the competent court/High Court at Patna.
Kanohar Electricals Ltd Market Notice positive materiality 8/10

06-10-2026

Kanohar Electricals Ltd reported Q1 FY27 results with revenue doubling to ₹137 Cr (up 103.5% YoY) and PAT surging 140% to ₹27 Cr, driven by improved product mix and operating leverage. The company secured incremental orders of Rs. 332.3 Cr, ending the quarter with a record order book of Rs. 2,026 Cr. However, the EPC segment's revenue contribution declined to 14.8% from 16.5% in FY26, and the traction transformers segment saw a sharp drop in mix from 25.3% to 11.5% YoY, indicating a shift in business composition.

  • · The company is among five manufacturers in India with short-circuit test certification for 500 MVA, 400 kV transformers and 100 MVA, 220 kV Scott-connected transformers.
  • · Order book of Rs. 2,026 Cr is executable over the next 18-24 months.
  • · FY27 revenue target is Rs. 950 Cr with EBITDA margin similar to FY26 (27.6%).
  • · Capex over next 18 months for brownfield expansion at Gangol unit and sustainability efforts.
  • · Traction transformers mix declined sharply from 25.3% in FY26 to 11.5% in Q1 FY27.
  • · EPC segment mix declined from 16.5% in FY26 to 14.8% in Q1 FY27.
Kanohar Electricals Ltd Market Notice positive materiality 9/10

06-10-2026

Kanohar Electricals Ltd reported a strong Q1 FY27 with revenue doubling to ₹137.1 Cr (up 103.5% YoY) and PAT surging 140% to ₹27.3 Cr. EBITDA margin improved to 28.3% from 22.8% a year ago, driven by a favorable product mix and operating leverage. However, gross profit margin slightly declined to 41.9% from 43.2% in Q1 FY26. The company added incremental orders worth ₹332.3 Cr during the quarter, ending with an order book of ₹2,026 Cr, and subsequently secured additional orders of ₹867.3 Cr including a large order from a central PSU.

  • · Company listed on NSE and BSE on 16th September 2026.
  • · Q1 FY27 revenue mix: Power Transformers 85.2%, Distribution Transformers 14.8% (vs FY26: 83.5% and 16.5% respectively).
  • · Transformers voltage mix: 400kV segment contributed 52.2% of transformer revenue in Q1 FY27 vs 57.1% in FY26; 220kV and <400kV segment grew to 17.8% from 11.0%.
  • · Order book client split as of 30th June 2026: Government 88.4%, Private Sector 11.6%.
  • · Order book product split: Power Transformers 69.6%, Scott Transformers 13.1%, Shunt Reactors 11.2%, Traction Transformers 4.2%, Distribution Transformers 1.8%, EPC solutions 0.1%.
  • · Manufacturing capacity utilisation: 46.0% in FY26, up from 29.7% in FY25 and 16.5% in FY24.
  • · Gross debt/equity ratio as of FY26: 0.1x.
  • · ROCE for FY26: 70.13%.
  • · IPO proceeds of ₹274.7 Cr allocated: ₹64.2 Cr for capex (machinery, civil construction, sustainability), ₹155.0 Cr for working capital, ₹55.5 Cr for general corporate purposes.
  • · Company is one of only 5 manufacturers in India with short-circuit test certification for 500 MVA 400 kV transformers.
  • · Company is one of only 4 manufacturers certified by RDSO for 100 MVA 132 kV Scott transformers.
  • · Company is one of only 2 manufacturers certified for 100 MVA 220 kV Scott transformers.
  • · FY27 revenue target of ~₹950 Cr with similar EBITDA margin profile as FY26 (27.6%).
Sheela Foam Limited Debt Securities neutral materiality 3/10

06-10-2026

Sheela Foam Limited has fully redeemed all outstanding Unsecured Non-Convertible Debentures (NCDs) on October 6, 2026, including final interest payment. As a result, no NCDs remain outstanding as of the intimation date. This marks the complete settlement of the company's NCD obligations, reducing its debt burden.

  • · Redemption date: October 6, 2026
  • · All outstanding Unsecured Non-Convertible Debentures fully redeemed
  • · No NCDs remain outstanding as of the intimation date
SPRIGHT AGRO LIMITED Insolvency negative materiality 10/10

06-10-2026

The Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench, has admitted a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against Spright Agro Ltd. The powers of the Board of Directors have been suspended, and Rajesh Jasti has been appointed as the Interim Resolution Professional (IRP) to manage the company as a going concern.

  • · NCLT order number: CP(IB)/86(AHM)/2026 dated 24/09/2026
  • · Application filed under Section 9 of IBC by Agrirevolve Trading Private Limited
  • · IRP's IBBI Registration No: IBBI/IPA-001/IP-P02317/2020-21/13469
  • · Email for correspondence: [email protected]
  • · Company CIN: L01100GJ1994PLC117990
Asset Reconstruction Company (India) Ltd Market Notice neutral materiality 2/10

06-10-2026

Asset Reconstruction Company (India) Ltd (ARCIL) has appointed M/s. Rathi & Associates as its Secretarial Auditor for five consecutive financial years from FY2026-27 to FY2030-31, subject to shareholder approval. The appointment was approved by the Board on October 6, 2026, based on the Audit Committee's recommendation. This is a routine corporate governance disclosure with no financial impact.

  • · The Board meeting commenced at 4:30 p.m. IST and concluded at 6:50 p.m. IST on October 6, 2026.
  • · M/s. Rathi & Associates was established in 1988 and has a track record of nearly 4 decades.
  • · The firm's office is located at Lower Parel, Mumbai.
  • · No relationships exist between directors in connection with this appointment.
Persistent Systems Limited Market Notice neutral materiality 2/10

06-10-2026

Persistent Systems Limited has informed the stock exchanges that its shareholders approved an amendment to Article 12(iii) of the Articles of Association, allowing the company to issue further shares to any persons (not just existing shareholders) if authorized by a Special Resolution, for cash or non-cash consideration, at a price determined per applicable laws. This is a routine corporate governance update with no immediate financial impact.

  • · Amendment approved by Members with requisite majority.
  • · Article 12(iii) now permits share issuance to any persons, whether or not they are existing shareholders, if authorized by a Special Resolution.
  • · Issuance can be for cash or for consideration other than cash, at a price determined in accordance with applicable laws.
  • · Filing references earlier intimations dated October 5, 2026 and October 6, 2026.
JK Cement Limited Market Notice negative materiality 4/10

06-10-2026

JK Cement Limited voluntarily filed an application for adjudication of penalties under Section 454 of the Companies Act, 2013, admitting delays in filing Form BEN-2 for Significant Beneficial Owner (SBO) disclosures. The Registrar of Companies (ROC Uttar Pradesh I) imposed penalties totaling ₹6,27,700 on the company and its officers, including Managing Director Dr. Raghavpat Singhania and Joint Managing Director & CEO Mr. Madhavkrishna Singhania, each fined ₹90,800. The company states the order does not have a major financial impact.

  • · The company voluntarily filed the adjudication application, admitting the delays.
  • · Penalty imposed under Section 90(11) for violation of Section 90(4) of the Companies Act, 2013 read with Rule 4 of the Companies (Significant Beneficial Owners) Rules, 2018.
  • · Order received on October 06, 2026 at 3:55 PM.
  • · The company states the order does not have major financial impact on operations or other activities.
Gabriel India Limited Market Notice positive materiality 8/10

06-10-2026

Gabriel India Limited announced the execution of a Joint Venture Agreement (JVA) between its parent ANAND Group and FORVIA, creating a new entity named Faurecia Anand Seating India Private Limited. The JV, controlled by FORVIA with a 50% plus 1 share stake (Gabriel India holding 50% less 1 share), will focus on seat frames and complete seats, targeting approximately 10% market share in India within five years. The transaction is expected to close by end of 2026, subject to regulatory approvals.

  • · The JV will be named Faurecia Anand Seating India Private Limited and will be controlled by FORVIA.
  • · FORVIA's stake in the JV will be 50% plus 1 share, with Gabriel India holding 50% less 1 share.
  • · The transaction is expected to close by the end of 2026, subject to customary conditions and regulatory approvals.
  • · The JV builds on a longstanding relationship between FORVIA and ANAND that began in 1991 with a partnership in Clean Mobility.
  • · Gabriel India is the flagship company of ANAND Group, listed on NSE and BSE.
  • · FORVIA targets approximately 10% market share in Seating within the next five years as a first milestone.
  • · ANAND Group has 92 locations across India, Europe and South America, with a workforce of more than 24,500 employees.
  • · FORVIA employs over 137,500 people, including more than 12,000 R&D engineers across 40+ countries.
  • · FORVIA generated €26.2 billion in consolidated revenue in 2025.
  • · Gabriel India has over 80 R&D specialists and three technology centers in India and Europe.
JINDAL STEEL LIMITED Corporate Governance neutral materiality 3/10

06-10-2026

Jindal Steel Limited has informed the exchanges that its Board of Directors will meet on October 23, 2026, to consider and approve the unaudited financial results for the quarter and half year ended September 30, 2026. The trading window for designated persons and their immediate relatives has been closed from October 1, 2026, and will remain closed until 48 hours after the results are made public.

  • · The trading window closure began on October 1, 2026, and will end 48 hours after the results are made public.
  • · The board meeting is scheduled for Friday, October 23, 2026.
  • · The results to be considered are for the quarter and half year ended September 30, 2026.
Meesho Ltd Merger/Acquisition neutral materiality 6/10

06-10-2026

Meesho Ltd's board approved an additional investment of up to INR 50,00,00,000 (Fifty Crores) in Retail Pulse Labs Private Limited (RPLPL), a B2B kirana tech platform, as part of the ongoing acquisition of Kirana Club Pte. Ltd. The board also executed an amendment to the original share purchase agreement, but the total consideration of INR 2,02,08,52,202.40 (Two Hundred Two Crores Eight Lakhs Fifty-Two Thousand Two Hundred Two and Forty Paise) and scope remain unchanged. RPLPL reported audited turnover of INR 16.04 Crore for FY2025-26 with a net loss of INR (1.60) Crore, showing rapid revenue growth from INR 2.7 Crore in FY2023-24 but continued unprofitability.

  • · RPLPL reported a net loss of INR (1.60) Crore for FY2025-26 despite strong revenue growth.
  • · No tranche of the acquisition has been completed as of the filing date.
  • · The additional investment of INR 50 Crore is to be made within one year from closing of the first tranche.
  • · RPLPL was incorporated on October 7, 2021, and operates a B2B platform connecting kirana retailers with FMCG brands.
SPRIGHT AGRO LIMITED Insolvency negative materiality 10/10

06-10-2026

Spright Agro Ltd. has entered Corporate Insolvency Resolution Process (CIRP) following an order by the Hon'ble National Company Law Tribunal (NCLT), Ahmedabad Bench dated 24/09/2026. The company has published public announcements in Financial Express (English) and Jai Hind-Ahmedabad (Gujarati) on 27/09/2026, and appointed Rajesh Jasti as the Interim Resolution Professional (IRP). This marks a significant negative event for the company, indicating severe financial distress.

  • · NCLT Ahmedabad Bench order no. CP(IB)/86(AHM)/2026 dated 24/09/2026 initiated the CIRP.
  • · Public announcements published on 27/09/2026 in Financial Express (English) and Jai Hind-Ahmedabad (Gujarati).
  • · IRP Rajesh Jasti holds IBBI Registration No: IBBI/IPA-001/IP-P02317/2020-21/13469.
  • · Email for correspondence: [email protected]
SIS LIMITED Buyback neutral materiality 5/10

06-10-2026

SIS Limited reported a daily buyback of 30,000 equity shares on October 6, 2026, at an average price of ₹419.3947 per share, bringing cumulative buyback to 22,24,134 shares. The buyback is progressing steadily, with no shares closed out, indicating continued open-market repurchase activity.

  • · Daily buyback of 30,000 shares executed via Elara Securities: 5,000 on BSE and 25,000 on NSE.
  • · Cumulative buyback as of October 5, 2026 stood at 21,94,134 shares.
  • · No shares were closed out on October 6, 2026, and cumulative closed-out quantity remains zero.
  • · Buyback is being conducted under SEBI (Buy-Back of Securities) Regulations, 2018, via open market.
  • · Details are available on company website and stock exchange websites.
PTC Industries Limited Market Notice neutral materiality 7/10

06-10-2026

PTC Industries Limited has approved the opening of a Qualified Institutions Placement (QIP) of equity shares with a face value of ₹10 each, setting a floor price of ₹22,150.00 per share. The company may offer a discount of up to 5% on the floor price, and the final issue price will be determined in consultation with the book running lead managers. The QIP is part of a capital raise approved by the board and shareholders earlier in 2026.

  • · The QIP is being conducted under Chapter VI of SEBI ICDR Regulations, 2018 and Sections 42 and 62 of the Companies Act, 2013.
  • · The Listing and Fund Raising Committee approved the preliminary placement document and application form dated October 06, 2026.
  • · The relevant date for pricing is October 06, 2026.
  • · The committee meeting commenced at 9:30 PM and concluded at 10:15 PM on October 06, 2026.
  • · The preliminary placement document will be filed with BSE and NSE on October 06, 2026.
BirlaNu Limited Merger/Acquisition neutral materiality 6/10

06-10-2026

BirlaNu Limited (formerly HIL Limited) has received NCLT Hyderabad Bench approval for the amalgamation of its wholly owned subsidiary, Clean Coats Private Limited, into itself. The scheme, approved on October 6, 2026, is intended to create operational synergies, reduce redundancies, and simplify management. However, the scheme will only become effective after the NCLT Mumbai Bench also approves the Transferor Company's petition and certified copies are filed with the respective Registrars of Companies.

  • · The Transferor Company (Clean Coats Private Limited) is a wholly owned subsidiary of the Transferee Company (BirlaNu Limited).
  • · No consideration will be issued by BirlaNu Limited upon amalgamation since Clean Coats is a wholly owned subsidiary; the entire share capital of Clean Coats will be cancelled.
  • · The scheme was approved by the Board of Directors of Clean Coats on February 12, 2025, and by the Board of BirlaNu on February 13, 2026.
  • · The scheme does not require prior approval from SEBI or stock exchanges under Regulation 37(6) of SEBI LODR as it involves a wholly owned subsidiary.
  • · The scheme will become effective only after the NCLT Mumbai Bench approves the Transferor Company's petition and certified copies are filed with the respective Registrars of Companies.
  • · BirlaNu Limited changed its name from HIL Limited to BirlaNu Limited on March 19, 2025.
Tenneco Clean Air India Limited Market Update negative materiality 5/10

06-10-2026

Tenneco Clean Air India Limited received a show cause notice (SCN) from the Maharashtra GST Department on October 5, 2026, alleging excess input tax credit availment of ₹285,488,700 for FY 2022-23, along with interest of ₹224,429,799 and a penalty of ₹57,117,740. The company believes it has adequate grounds to contest the allegations and does not presently foresee any material financial impact, as the SCN is at a preliminary stage and not a final order.

  • · SCN issued under Section 73(1) of the Maharashtra Goods and Services Tax Act, 2017
  • · SCN dated September 29, 2026, received on October 5, 2026
  • · Company is evaluating the allegations and preparing a detailed response
  • · Company states no material impact on financial position, operations, or other activities is presently envisaged
Asset Reconstruction Company (India) Ltd Market Update mixed materiality 8/10

06-10-2026

Asset Reconstruction Company (India) Ltd (ARCIL) reported strong financial and operational performance for FY26, with total income of Rs. 750 Cr (+21% YoY) and PAT of Rs. 408 Cr (+15% YoY). AUM grew 20% YoY to Rs. 20,150 Cr and acquisitions surged 50% YoY to Rs. 5,959 Cr, boosting ARCIL's industry AUM share to 15% and acquisition share to 17%. However, total recovery declined 10% YoY to Rs. 3,484 Cr, and the cumulative SR redemption ratio remained flat at 52.5% as of June 2026.

  • · ARCIL is the largest private ARC in India by AUM, profitability and market share.
  • · Promoter & Promoter Group holds 77.4% and Public holds 22.6% as of 30th September 2026.
  • · Credit rating: ICRA AA− Stable and CRISIL AA− Stable.
  • · AUM mix as of FY26: Corporate 68.8%, Retail 23.6%, SME & Others 7.7%.
  • · Debt-to-equity ratio increased from 0.06x in Mar'24 to 0.39x in Mar'26.
  • · ROA improved from 8.7% in FY24 to 10.6% in FY26; ROE improved from 11.5% to 14.0%.
  • · Cumulative SR redemption ratio was 52.5% as of June 2026, up from 50.8% in March 2026.
  • · Collections in Q1FY27 were Rs. 1,066 Cr.
  • · ARCIL has relationships with 53 NBFCs, 33 private sector banks, 28 public sector banks, 18 HFCs, 4 insurance companies, 3 financial institutions, and 2 co-operative banks since inception.
International Travel House Ltd Corporate Governance neutral materiality 2/10

06-10-2026

International Travel House Ltd has informed BSE that a Board Meeting is scheduled for 13th October 2026 to consider and approve the unaudited financial results for the quarter and six months ended 30th September 2026, along with the statement of assets and liabilities and cash flows. This is a routine regulatory disclosure with no financial figures provided.

  • · Board meeting date: 13th October 2026
  • · Financial results for quarter and six months ended 30th September 2026 to be considered
  • · Disclosure made under Regulation 29 of SEBI (LODR) Regulations, 2015
Reliance Communications Limited Market Notice negative materiality 10/10

06-10-2026

The Department of Telecommunications (DoT) has terminated with immediate effect the telecom spectrum assigned to Reliance Communications Limited (RCOM) and its wholly owned subsidiary Reliance Telecom Limited (RTL) from auctions held between 2010 and 2016, citing violations of roll-out obligations and non-payment of spectrum usage charges and liquidated damages. The termination follows a Supreme Court judgment dated February 13, 2026, and DoT notices issued in July and August 2026. The company is evaluating the implications, and the resolution plans of both RCOM and RTL, which involve the sale of spectrum rights, are sub-judice before the NCLT, creating significant uncertainty for creditors and stakeholders.

  • · The termination applies to spectrum from auctions in 2010, 2013, 2014, 2015, and 2016.
  • · The DoT cited failure to comply with roll-out obligations and default in payment of spectrum usage charges and liquidated damages.
  • · The Supreme Court judgment dated February 13, 2026, in Civil Appeal No. 1810 of 2021 (State Bank of India vs. Union of India) was referenced as the legal basis.
  • · RCOM has been under corporate insolvency resolution process since June 28, 2019, with the Resolution Professional managing its affairs.
  • · The resolution plan for RCOM and RTL, which includes sale of spectrum rights, is pending approval before the NCLT, Mumbai Bench.
  • · The DoT has directed the RCOM Group to cease and desist from using the terminated spectrum immediately.
HDFC Nifty Metal ETF Index Update mixed materiality 3/10

06-10-2026

HDFC Mutual Fund submitted an index update filing to the Bombay Stock Exchange on October 6, 2026, detailing creation unit additions and deletions across its ETF suite. The HDFC Nifty Metal ETF (symbol 544842) saw a net addition of 40,000 units with no deletions, while the HDFC Nifty Smallcap 250 ETF recorded a net addition of 31,85,000 units (32,20,000 added less 35,000 deleted). On the other hand, the HDFC Nifty Bank ETF experienced a net deletion of 12,500 units, and the HDFC Nifty Private Bank ETF saw a net deletion of 50,000 units, indicating mixed flows across the fund family.

  • · HDFC Nifty Metal ETF (symbol 544842) had a net addition of 40,000 units with zero deletions.
  • · HDFC Nifty Smallcap 250 ETF had the largest gross addition at 32,20,000 units, but also 35,000 deletions, resulting in a net addition of 31,85,000 units.
  • · HDFC Nifty Bank ETF and HDFC Nifty Private Bank ETF both saw net deletions of 12,500 and 50,000 units respectively, indicating outflows from banking sector ETFs.
  • · HDFC Gold ETF and HDFC Silver ETF saw large additions of 21,60,000 and 63,30,000 units respectively, reflecting strong inflows into precious metal ETFs.
  • · HDFC BSE 500 ETF added 8,30,000 units with no deletions, while HDFC Nifty 50 ETF had 4,00,000 units deleted with no additions.
  • · Several ETFs (Growth Sectors 15, Low Volatility 30, Momentum 30, Midcap 150, Nifty 100, IT, PSU Bank, Next 50, Quality 30, BSE SENSEX) reported zero additions and zero deletions, indicating no creation unit activity.
Unknown Market Update neutral materiality 3/10

06-10-2026

Vajra 012 Trust, a securitization trust represented by Axis Trustee Services Limited, submitted its monthly disclosure for September 2026 to the Bombay Stock Exchange under SEBI regulations. The pool, originated by Veritas Finance Limited and comprising Small Business Loans (SBL) and Home Construction Loans (HCL), reported total monthly collections of ₹3,39,73,404 against total billing of ₹2,44,21,405, with a strong cumulative collection efficiency ratio (CCER) of 97.31%. However, the disclosure also reveals 167 overdue loans with a total principal overdue of ₹31,25,777 and interest overdue of ₹30,24,745, indicating pockets of stress within the pool.

  • · The trust has two rated tranches: Series A1 (ISIN INE10VT15014) and Series A2 (ISIN INE10VT15022), both currently rated AAA(SO) by ICRA.
  • · Legal maturity for both tranches is 20-01-2028 (Series A1) and 20-01-2031 (Series A2).
  • · Total receipts for the month were ₹3,39,73,404, with the largest payment being ₹3,01,28,792.41 to the A2 Tranche.
  • · The pool has a door-to-door maturity of 35 months and a current weighted average life of 0.0 months, suggesting the pool is near its end.
  • · There are 25 loans overdue by more than 180 days, with a combined principal overdue of ₹14,59,462 and interest overdue of ₹14,30,374.
  • · The cumulative billing is ₹77,34,77,023 and cumulative collections are ₹1,02,40,12,817.36, indicating collections have exceeded original billing.
  • · The First Loss Facility and Investment in Equity Tranche balances remained unchanged during the month.
Unknown Market Update negative materiality 5/10

06-10-2026

Vajra 010 Trust submitted its monthly disclosure for September 2026 (Month 27) to the Bombay Stock Exchange under SEBI LODR Regulation 82(3). The trust's pass-through certificate (PTC) pool, originated by Veritas Finance Limited, reported total collections of ₹7,18,84,779 against total billing of ₹1,19,62,459, with a cumulative collection efficiency ratio of 97.00%. However, the pool's PAR (principal at risk) stood at a high 27.15%, and there were 124 overdue loans, including 45 loans overdue by more than 180 days, indicating significant credit stress.

  • · The trust's pool has shrunk significantly from an original size of ₹55,77,30,079 to a current size of ₹22,82,15,444.
  • · There were 18 loans prepaid or foreclosed during the month, with a total amount of ₹37,73,143.
  • · The A1 Tranche has an original principal outstanding of ₹50,00,00,000 and a closing outstanding of ₹14,03,81,816.52.
  • · Principal payments made during the month were ₹1,20,34,728.64, and interest payments were ₹11,50,431.73.
  • · The weighted average seasoning of the pool is 15.15 months.
  • · The current weighted average LTV is 35.26%, down from the original 35.45%.
  • · The door-to-door maturity of the pool is 41 months, with legal maturity of the A1 Tranche on 20-06-2028.
  • · The current rating of the A1 Tranche is AA+(SO) by ICRA, unchanged from the original rating.
  • · The waterfall mechanism shows total receipts of ₹81,13,131 and total payments of ₹1,53,99,870, indicating a shortfall in the month's cash flows.
  • · Future cash flows for October 2026 show expected principal of ₹22,82,15,443.80 and interest of ₹25,540 for Asset Class 1.
Benchmark Computer Solutions Limited Market Update neutral materiality 1/10

06-10-2026

Benchmark Computer Solutions Limited submitted a certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by KFIN Technologies Limited (the company's Registrar and Share Transfer Agent), confirms that details of securities dematerialized/rematerialized during the quarter have been furnished to all stock exchanges where the company's shares are listed. This is a routine compliance filing with no financial or operational impact.

Unknown Market Update mixed materiality 5/10

06-10-2026

Vajra 009 Trust, a securitization trust originated by Veritas Finance Limited, reported its monthly disclosure for September 2026 (Month 27). The pool shows a cumulative collection efficiency ratio of 95.59%, with total collections of ₹43,74,10,123 during the month. However, the pool continues to show stress with 659 overdue loans (12.2% of current loans) and a PAR of 27.03%, while the A2 tranche received principal and interest payments but the A1 tranche received no payments this month.

  • · The pool has 659 overdue loans, with 315 loans overdue more than 180 days, indicating significant stress.
  • · The A1 tranche received no principal or interest payments this month, while the A2 tranche received ₹7,48,99,088.70 in principal and ₹53,31,330.86 in interest.
  • · The current pool size has declined to ₹1,19,35,92,871 from the original ₹3,34,03,29,960, reflecting substantial amortization.
  • · The excess spread percentage is 27.03%, providing credit enhancement.
  • · The first loss facility and equity tranche remain fully funded at ₹15,03,14,848 and ₹34,03,29,960 respectively.
  • · The cumulative collection efficiency ratio is 95.59%, but current collections (excluding prepayments) were only ₹27,224, indicating a sharp slowdown in monthly collections.
  • · The weighted average seasoning of the pool is 14.48 months, and the door-to-door maturity is 25 months.
BARODA BNP PARIBAS MUTUAL FUND Index Update neutral materiality 1/10

06-10-2026

BARODA BNP PARIBAS MUTUAL FUND filed an index update on October 6, 2026, reporting the Net Asset Values (NAVs) for two of its schemes. The BBNPPGOLD scheme reported a NAV of ₹142.3052, while the BBNPNBETF scheme reported a NAV of ₹55.6381, with no additions or reductions recorded for either.

  • · The ISIN for BBNPPGOLD is INF251K01SU9.
  • · The ISIN for BBNPNBETF is INF251K01TL6.
  • · No additions or reductions (Add/Less) were recorded for either scheme.
Unknown Market Update positive materiality 5/10

06-10-2026

Vajra 007 Trust, a securitization trust with Veritas Finance as originator, reported its monthly disclosure for September 2026. The pool of Small Business and Home Construction Loans has shrunk significantly from an original ₹55,55,64,865 to a current ₹17,23,45,493, with a cumulative collection efficiency ratio of 98.89%. The sole rated tranche (Series A1 PTC) was upgraded from AA+(SO) to AAA(SO) and continues to perform without any principal or interest shortfalls, though the pool shows 43 overdue loans totaling ₹22,75,318 in principal and ₹13,59,892 in interest.

  • · The pool's original weighted average life was 54.74 months; current weighted average life is 0.0 months, indicating the pool is fully seasoned.
  • · Door-to-door maturity of the pool is 44 months.
  • · Of the 43 overdue loans, 23 are overdue >180 days, representing the largest portion of principal overdue (₹18,43,375).
  • · The Series A1 PTC has been upgraded from AA+(SO) to AAA(SO) by ICRA.
  • · Total receipts for the month were ₹1,40,75,093, with payments of ₹1,33,44,486.24 to the Senior Tranche (A1 PTC).
  • · The excess spread amount is ₹8,59,87,592, providing significant credit enhancement.
  • · First loss facility and equity tranche balances remained unchanged during the month.
Kirloskar Ferrous Industries Ltd. Corporate Action neutral materiality 1/10

06-10-2026

Kirloskar Ferrous Industries Ltd. has informed BSE that the record date for redemption of its commercial paper (ISIN INE884B14788) is fixed as October 13, 2026, with maturity on October 14, 2026. This is a routine corporate action involving the repayment of short-term debt and does not indicate any change in the company's financial health or operations.

  • · Record date for redemption: October 13, 2026
  • · Maturity date of commercial paper: October 14, 2026
  • · ISIN of the commercial paper: INE884B14788
  • · Scrip code: 500245
Dalmia Bharat Limited Market Update neutral materiality 1/10

06-10-2026

Dalmia Bharat Limited filed certificates from its Registrar and Transfer Agent, KFin Technologies Limited, confirming compliance with SEBI Regulation 74(5) for the quarter ended September 30, 2026. The certificates state that details of securities dematerialized/rematerialized during the quarter have been furnished to all stock exchanges where the company's shares are listed. This is a routine regulatory compliance filing with no financial data or business performance information.

Shriram Nifty 1D Rate Liquid ETF Index Update positive materiality 3/10

06-10-2026

Shriram Nifty 1D Rate Liquid ETF published its portfolio statement as of September 30, 2026, showing 99.27% of net assets invested in TREPS (Tri-Party Repo) with a total net asset value of ₹3,102.40 Lacs. The fund's NAV per unit increased from ₹1,121.4596 on September 15, 2026 to ₹1,123.5536 on September 30, 2026, reflecting stable growth. The portfolio has a 1-day average maturity, zero tracking error, and an annualized YTM of 5.13%, indicating low risk and high liquidity.

  • · The scheme has no investments in foreign securities, ADRs, GDRs, corporate debt repos, or derivative instruments.
  • · No dividend (IDCW) option is offered; only growth option available.
  • · Face value per unit is ₹1,000.
  • · Debt Index Replication Factor (DIRF) is 99.27%.
  • · Risk classification: A-I (Relatively Low Interest Rate Risk and Relatively Low Credit Risk).
360 ONE MSCI India ETF Market Update neutral materiality 1/10

06-10-2026

The filing provides the Net Asset Values (NAVs) for three 360 ONE ETFs as of October 6, 2026. The 360 ONE GOLD ETF Regular Growth NAV stood at ₹143.5360, the 360 ONE SILVER ETF Regular Growth NAV at ₹217.0119, and the 360 ONE MSCI India ETF Regular Growth NAV at ₹9.5895. This is a routine periodic disclosure with no comparative period data or commentary on performance trends.

  • · ISIN for 360 ONE GOLD ETF Regular Growth: INF579M01BB5
  • · ISIN for 360 ONE SILVER ETF Regular Growth: INF579M01BC3
  • · ISIN for 360 ONE MSCI India ETF Regular Growth: INF579M01BP5
  • · BSE Code for 360 ONE GOLD ETF: 544375
  • · BSE Code for 360 ONE SILVER ETF: 544389
  • · BSE Code for 360 ONE MSCI India ETF: 544766
Victoria Mills Ltd. Market Update neutral materiality 1/10

06-10-2026

Victoria Mills Ltd. submitted a routine certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, confirming that dematerialisation requests received during the quarter ended September 30, 2026 were processed within prescribed timelines, with certificates mutilated and cancelled after verification. The filing is a standard compliance disclosure with no financial or operational impact.

  • · Certificate dated October 3, 2026, received from MUFG Intime India Private Limited (formerly Link Intime India Private Limited).
  • · Covers dematerialisation requests for the quarter ended September 30, 2026.
  • · Confirms securities were confirmed/rejected to depositories and certificates were mutilated and cancelled after verification.
  • · Names of depositories substituted in the register of members as registered owners within prescribed timelines.
Choice Gold ETF Market Update neutral materiality 1/10

06-10-2026

Choice Gold ETF reported a Net Asset Value (NAV) of ₹145.9527 as of October 6, 2026. This is a routine daily NAV disclosure with no comparative period data provided.

  • · ISIN number for the scheme is INF2KCX01012.
  • · The filing is a routine daily NAV disclosure with no comparative period or additional commentary.
Karamtara Engineering Ltd Market Update neutral materiality 1/10

06-10-2026

Karamtara Engineering Ltd has changed its registered office address from Andheri (West), Mumbai to Worli, Mumbai, effective October 06, 2026. The change was approved by the Board of Directors and is within the local limits of Mumbai. This is a routine administrative update with no financial impact.

  • · Old registered office: 705, Morya Landmark II, New Link Road, Andheri (West), Mumbai City, Mumbai, Maharashtra, India, 400053
  • · New registered office: 902, 9th Floor, Ascent, Sudam Kalu Ahire Marg, Worli, Mumbai – 400030, Maharashtra, India
  • · Change effective from October 06, 2026
Happiest Minds Technologies Limited Market Update neutral materiality 3/10

06-10-2026

Happiest Minds Technologies announced a proposed shift of its registered office from Karnataka to West Bengal, subject to shareholder approval. A public notice inviting objections has been published in Financial Express (English) and Vishwavani (regional newspaper) as per prescribed Form INC-26. No financial impact is disclosed, and the process remains in the objection-request phase.

  • · The public notice is published in Financial Express (English) and Vishwavani (regional newspaper) on October 06, 2026.
  • · The proposed shift is from the State of Karnataka to the State of West Bengal.
  • · Shareholders' approval was sought in a letter dated October 05, 2026.
  • · The company has not disclosed any revenue, cost, or tax implications of the relocation.
Ashapuri Gold Ornament Limited Market Update neutral materiality 6/10

06-10-2026

Ashapuri Gold Ornament Limited held a Board Meeting on October 6, 2026, approving several key governance changes including the reappointment of statutory auditors and an independent director, a proposal to increase remuneration for three managing directors, and a shift of the registered office. The meeting also accepted the resignation of the CFO and CEO, with the former CEO being appointed as the new CFO, reflecting a significant realignment of senior management roles.

  • · The Board approved a revised draft Director Report and revised notice for the 18th Annual General Meeting (AGM).
  • · Reappointment of M/s Shivam Soni & Co. as statutory auditor for a second term of five years (from conclusion of 18th AGM in 2026 to conclusion of 23rd AGM in 2031), subject to shareholder approval.
  • · Reappointment of Shri Saurabh G Patel as Non-Executive Independent Director for a second term of five years effective December 30, 2026, subject to shareholder approval.
  • · Proposal to increase remuneration of Chairman & MD Saremal Soni, MD Dineshkumar Soni, and Joint MD Jitendrakumar Soni, subject to member approval at AGM.
  • · Proposed related party transaction for approval of members at AGM.
  • · Registered office to be shifted to 'Ashapuri Corporate House', 2/F Ravish Aprt., Near Jalaram Chass Wala, Navrangpura, Ahmedabad-380009.
  • · Resignation of Jitendrakumar S Soni as CFO effective October 6, 2026, due to realignment of roles.
  • · Resignation of Jenik Dineshkumar Soni as CEO effective October 6, 2026, due to organizational restructuring.
  • · Jenik Dineshkumar Soni appointed as CFO effective October 6, 2026; he is the son of MD Dineshkumar S Soni.
  • · M/s Mukesh H. Shah & Co. appointed as scrutinizer for remote e-voting and voting at the 18th AGM.
Varmora Granito Ltd Market Update neutral materiality 1/10

06-10-2026

Varmora Granito Limited filed a certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026, confirming that details of securities dematerialized/rematerialized during the period have been furnished to all stock exchanges where the company's shares are listed. The certificate was issued by the Registrar and Transfer Agent, KFin Technologies Limited. This is a routine regulatory compliance filing with no financial data or performance metrics.

Unknown Market Update neutral materiality 2/10

06-10-2026

360 ONE Portfolio Managers Limited has appointed Mr. Pankaj Binod Fitkariwala as an Additional Non-Executive, Non-Independent Director effective October 06, 2026. The appointment was approved by the Board of Directors and disclosed under SEBI Listing Regulations. No financial figures or performance metrics were provided in this filing.

  • · Appointment effective from October 06, 2026
  • · Mr. Fitkariwala holds DIN 07356813
  • · Company Secretary is Mansi Shah (ACS29280)
  • · Corporate office located at 360 ONE Centre, Kamala City, Lower Parel, Mumbai
Embassy Office Parks REIT Merger/Acquisition neutral materiality 5/10

06-10-2026

Embassy Office Parks REIT is proposing to acquire a retail unit (Unit No. 001) at First International Financial Centre (FIFC), Bandra Kurla Complex, Mumbai, comprising 5,231 sq. ft. of carpet area (8,048 sq. ft. leasable area). Independent valuation reports dated October 05, 2026, value the property at ₹545 million (₹54.5 crore). The acquisition is part of Embassy REIT's portfolio expansion in a prime Mumbai commercial micro-market.

  • · The valuation reports were issued by two independent valuers: L. Anuradha (with Cushman & Wakefield review) and iVAS Partners (with CBRE South Asia value assessment).
  • · The subject property is located on the ground floor of FIFC, a commercial building with 2 basements + ground floor + 13 upper floors, total leasable area ~0.4 million sq. ft.
  • · The retail unit is currently occupied by reputed food chain operators.
  • · The property is in BKC, approximately 2 km from Kurla Railway Station and 5 km from Bandra Railway Station.
  • · The valuation date is September 30, 2026, and the report date is October 5, 2026.
MARG TECHNO PROJECTS LIMITED Market Update neutral materiality 1/10

06-10-2026

MARG TECHNO PROJECTS LIMITED submitted a certificate under SEBI Regulation 74(5) for the quarter ended September 30, 2026, confirming that all dematerialization requests were processed, certificates mutilated and cancelled, and the securities listed on the stock exchanges. This is a routine compliance filing with no financial or operational impact.

  • · The certificate was issued by MCS Share Transfer Agent Ltd on October 5, 2026.
  • · The filing confirms that securities received for dematerialization were confirmed (accepted/rejected) to depositories and that the underlying certificates were mutilated and cancelled after verification.
  • · The company's equity is listed on BSE (Scrip Code: 540254) and MSE (Symbol: MTPL).
Dhanuka Agritech Limited Market Update neutral materiality 1/10

06-10-2026

Dhanuka Agritech Limited filed a compliance certificate under Regulation 74(5) of the SEBI (Depository and Participants) Regulations, 2018 for the quarter ended 30th September 2026. The certificate from its RTA, Abhipra Capital Limited, confirms that all securities received for dematerialization during the quarter were processed, mutilated, and cancelled, and that the depositories' names were substituted in the register of members within 15 days. This is a routine regulatory compliance filing with no financial or operational impact.

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