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India Stock Market Daily Regulatory Digest — September 21, 2026

Daily India Market Intelligence

By Gunpowder Editorial ·

3 high priority 47 medium priority 50 total filings analysed

Executive Summary

The September 21, 2026, filing batch reveals a market with significant capital recycling and strategic realignment, particularly in the infrastructure and energy sectors. The most critical development is Dilip Buildcon's INR 6,829 Cr solar portfolio divestment, advancing its asset-light strategy, while Lloyds Metals' INR 190 Cr capacity expansion signals strong sectoral growth.

Period-over-period data shows a mixed earnings picture: IRB InvIT's revenue surged 68.4% YoY but profit fell 20.2% YoY due to higher finance costs, while Veedol Corporation reported modest revenue growth but prioritized margin protection over volume. Insider activity is notable, with promoter groups in HEG and Almondz Global increasing stakes, counterbalanced by an undisclosed promoter-group sale at Twamev Construction. Capital allocation trends are bifurcated, with companies like Premier Energies seeking up to INR 5,000 Cr for expansion and others like Shriram Finance executing debt buybacks. The overall sentiment is cautiously positive, driven by large-scale project awards and strategic divestments, tempered by rising costs and selective governance concerns.

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

Filing types in this digest: Corporate governance · Insider trading · Debt securities · Company update

Tracking the trend? Catch up on the prior India Stock Market Daily Regulatory Digest digest from September 20, 2026.

Investment Signals (12)

  • ▲

    Divested 10 solar SPVs (~1,363 MW) at INR 6,829 Cr EV, advancing asset-light 'DBL 2.0' strategy, enabling capital recycling and deleveraging. Remaining 51% stake to be acquired upon portfolio completion (Sep 2027).

  • Approved INR 190 Cr capacity expansion for DRI plants (Ghugus to 8,15,000 MTPA, Konsari to 92,400 MTPA) funded via internal accruals, expected to improve margins. Also approved NCDs up to INR 1,550 Cr.

  • ▲

    Material subsidiary Lineage Power won INR 488.46 Cr order from NTPC GE Power for BESS containers with 12-year CMC, to be completed by Dec 31, 2026.

  • Q1 FY27 total income grew 68.4% YoY to INR 4,922.14 Mn, but PAT declined 20.2% YoY to INR 794.44 Mn. EPS fell sharply from INR 1.72 to INR 0.62, reflecting higher finance costs and amortization. [MIXED/BEARISH]

  • ▲

    Promoter group (Ravi Jhunjhunwala) acquired 9.16 Cr shares (4.44% of voting capital) via scheme of arrangement, increasing holding from 56.28% to 60.72%. No cash consideration paid.

  • Promoter group entity Innovative Money Matters acquired 84,030 shares in open market, increasing stake from 0.46% to 0.50%. Marginal but shows promoter confidence.

  • Promoter Prakash Kacholia converted warrants into 1,00,000 equity shares at INR 239.50, increasing holding to 19.70%. Cumulative allotments of 7,50,000 shares across 8 tranches show sustained promoter commitment.

  • ▲

    Launched tender offer to buy back up to US$300M of its 6.625% Senior Secured Notes due 2027 and up to US$160M of its 6.15% Notes due 2028. Debt management action reduces future interest burden.

  • Allotted INR 130 Cr of secured NCDs at 9.25% p.a., maturing Sep 1, 2028. Coupon rate is attractive in current rate environment, indicating strong investor demand for NBFC debt. [NEUTRAL/BULLISH]

  • FY26 standalone revenue grew modestly to INR 1,546.96 Cr (from INR 1,527.28 Cr), PAT at INR 135.16 Cr. Middle East operations turned profitable for first time, but company prioritized margin over volume.

  • Board approved sale of subsidiary Nueclear Healthcare (NHL) for ~INR 141.40 Cr (CCPS + cash). NHL contributed only 5.38% of consolidated turnover with lower PAT margin (10.9% vs 19.2% core). Focus on core pathology is positive.

  • ▲

    AGM agenda includes special resolution to raise up to INR 90 Cr via QIP for working capital. Correction of e-voting end date to Sep 24, 2026.

Risk Flags (10)

  • Twamev Construction↓ [MEDIUM RISK]
    ▼

    Promoter group entity sold 90,800 shares (0.06% of capital) for INR 6,40,140 without prior intimation, discovered via routine benpos check. Undisclosed sale raises governance concerns.

  • IRB InvIT Fund↓ [HIGH RISK]
    ▼

    PAT declined 20.2% YoY despite 68.4% revenue growth, driven by higher finance costs and amortization. 11 subsidiaries reported combined net loss of INR 1,276 Mn for Q1 FY27.

  • ▼

    Buyer Trovera Healthcare was incorporated on June 16, 2026, with no audited financials for past three years. Consideration includes CCPS convertible at 1:1 upon IPO or 20 years, introducing uncertainty.

  • Crazy Snacks Ltd↓ [HIGH RISK]
    ▼

    Sought 3-month extension for FY 2025-26 AGM due to delays in finalizing financial statements post-IPO (listed July 3, 2026). Delayed reporting post-listing is a red flag.

  • Centerac Technologies↓ [MEDIUM RISK]
    ▼

    Public non-institutional shareholders voted 89.27% against reappointment of director Ramesh Sundaram. Promoters (99.81% holding) voted overwhelmingly in favor, but dissent signals governance concerns.

  • DHP India Ltd↓ [MEDIUM RISK]
    ▼

    AGM had only 3 valid votes despite 30,00,000 outstanding shares. Only 73.47% of capital voted, indicating low shareholder participation and potential governance issues.

  • Vedanta Limited↓ [LOW RISK]
    ▼

    Filing under SAST for Citicorp International Ltd lacks transaction details (volume, value, price). Sector misclassified as 'technology' (Vedanta is metals/mining), raising data quality concerns.

  • ▼

    SAST filing lacks transaction direction (acquisition/disposal), volume, or price. Sector listed as 'technology' for a hospital company, indicating potential data mismatch.

  • Only 2 promoter-group members and 48 public shareholders attended AGM via VC among 5,077 eligible shareholders. No in-person/proxy attendees. Extremely low engagement.

  • Disclosed unsolicited ESG rating of 70/100 from Crisil. While positive, the company did not commission the rating, and methodology is based on public data only.

Opportunities (10)

  • Enterprise value of INR 6,829 Cr for ~1,363 MW solar portfolio implies ~INR 5 Cr/MW. DBL's asset-light strategy and remaining 51% stake monetization upon portfolio completion (Sep 2027) offer upside.

  • ◆

    INR 488.46 Cr order for BESS containers with 12-year CMC. Order to be completed by Dec 31, 2026, providing near-term revenue visibility. Battery energy storage is a high-growth segment.

  • INR 190 Cr capacity expansion funded via internal accruals, expected to improve margins. DRI capacity increases to 8,15,000 MTPA (Ghugus) and 92,400 MTPA (Konsari).

  • Shareholders approved INR 29.98 Cr acquisition of KLPL's manufacturing facility on slump-sale basis with 99.823% votes in favor. Vertical integration or capacity expansion play.

  • AGM passed special resolution to raise up to INR 5,000 Cr via equity or convertible securities for expansion into battery energy storage. Capital raise for growth in renewable energy.

  • Middle East operations turned profitable for first time. Global lubricants market at USD 178.98 Bn (2025), India at USD 4.92 Bn. Margin protection strategy may yield results as demand recovers.

  • Promoter Prakash Kacholia converted warrants at INR 239.50, showing confidence. Cumulative 7,50,000 shares across 8 tranches. Current market price relative to conversion price offers insight.

  • Tender offer for US$300M of 6.625% Notes due 2027 and US$160M of 6.15% Notes due 2028. Reduces future interest expense and improves balance sheet.

  • Achieved Databricks Brickbuilder Specialization for BFSI. Brand value grew 22% YoY. Strengthens AI/analytics capabilities in financial services, a high-growth vertical.

  • AGM to consider QIP for working capital. If approved, could strengthen balance sheet. E-voting ends Sep 24, AGM on Sep 25.

Sector Themes (6)

  • Infrastructure & Energy Capital Recycling
    ◆

    Dilip Buildcon's INR 6,829 Cr solar divestment and Lloyds Metals' INR 190 Cr capacity expansion highlight a trend of asset-light strategies and reinvestment in core operations. Companies are monetizing assets to deleverage and fund growth. [IMPLICATION: Positive for balance sheets, watch for further divestments]

  • NBFC Debt Market Activity
    ◆

    IIFL Finance raised INR 130 Cr via NCDs at 9.25% p.a., while Shriram Finance executed a US$460M debt buyback. Jindal Saw's credit ratings reaffirmed (CARE AA/Stable). NBFCs are actively managing liability profiles amid stable credit conditions. [IMPLICATION: Stable credit environment, but rising rates may pressure margins]

  • Mixed Earnings with Revenue Growth but Margin Pressure
    ◆

    IRB InvIT's revenue grew 68.4% YoY but PAT fell 20.2% YoY. Veedol Corporation reported modest revenue growth but prioritized margin over volume. Rising finance costs and amortization are compressing profitability despite top-line growth. [IMPLICATION: Focus on cost management and debt reduction is critical]

  • Promoter Confidence Signals via Insider Activity
    ◆

    HEG promoter group increased stake to 60.72% (no cash outlay), Emkay Global promoter converted warrants at INR 239.50, and Almondz Global promoter entity bought shares in open market. These actions signal management conviction. [IMPLICATION: Positive for stock sentiment, but Twamev's undisclosed sale is a counterpoint]

  • Renewable Energy & Battery Storage Momentum
    ◆

    Pace Digitek's INR 488.46 Cr BESS order from NTPC GE Power and Premier Energies' plan to raise INR 5,000 Cr for battery storage underscore the accelerating energy transition. Government schemes (PM-KUSUM) are driving project awards. [IMPLICATION: High-growth segment, but execution and regulatory approvals remain key]

  • Corporate Governance Under Scrutiny
    ◆

    Centerac Technologies saw 89.27% public non-institutional dissent on director reappointment. DHP India had only 3 valid votes at AGM. Crazy Snacks delayed AGM post-IPO. Low shareholder participation and governance issues are recurring themes. [IMPLICATION: Investors should scrutinize governance practices, especially in smaller companies]

Watch List (8)

  • Regulatory approvals for solar portfolio divestment to Alpha Alternatives. Remaining 51% stake monetization timeline (Sep 2027). Watch for further asset-light moves. [Catalyst: Deal closure]

  • Q1 FY27 results show revenue growth but PAT decline. Proposed issue of new units. Watch for Q2 results and impact of 4 new subsidiaries (added Nov-Dec 2025). [Catalyst: Unit issuance, next earnings]

  • AGM extension request pending RoC Kanpur approval. Watch for finalization of FY 2025-26 financial statements. Delayed reporting post-IPO is a red flag. [Catalyst: AGM completion, financials release]

  • Shareholder vote on NHL divestiture (special resolution with mandatory public majority). Watch for completion of property purchases (Gurugram, Hyderabad) for INR 20.59 Cr. [Catalyst: Shareholder approval, deal closure]

  • AGM on Sep 25, 2026, with QIP proposal of INR 90 Cr. E-voting ends Sep 24. Watch for approval and utilization of proceeds. [Catalyst: AGM outcome, QIP launch]

  • AGM approved raising up to INR 5,000 Cr. Watch for timing and structure of capital raise (equity vs convertible). Expansion into battery energy storage. [Catalyst: Capital raise announcement]

  • Dubai Court dismissed YFT claim. Watch for any appeals or further legal developments. Positive legal outcome removes overhang. [Catalyst: Final legal resolution]

  • Investor group meeting scheduled for Sep 24, 2026. Watch for any updates on strategy or performance shared during the meeting. [Catalyst: Investor meet outcomes]

Filing Analyses (50)
ELITECON INTERNATIONAL LIMITED Market Notice neutral materiality 1/10

21-09-2026

Elitecon International Limited has submitted copies of newspaper publications regarding a Notice of Postal Ballot dated September 18, 2026, to the stock exchanges (BSE and Calcutta Stock Exchange) under SEBI LODR Regulations 30 and 47. The notice was published in the Financial Express (English, all editions) and Jansatta (Hindi). The filing is a routine procedural disclosure with no financial figures or performance data.

  • · Notice of Postal Ballot dated September 18, 2026
  • · Published in Financial Express (English, all editions) and Jansatta (Hindi)
  • · Submitted under Regulation 30 and 47 of SEBI LODR Regulations, 2015
Supra Pacific Financial Services Limited Corporate Governance neutral materiality 3/10

21-09-2026

Supra Pacific Financial Services Limited held a Board Meeting on 21st September 2026, where the directors noted the minutes of the previous meeting and reviewed the company's business operations and prospects. No financial results, dividends, or specific operational metrics were disclosed in this filing, which appears to be a routine corporate governance update.

  • · Board meeting was adjourned for the AGM at 11:00 a.m. and reassembled at 11:30 a.m., concluding at 12:00 p.m.
  • · The board took note of minutes from the board meeting dated 17th September 2026.
  • · No financial results, dividend, or earnings per share figures were provided in this filing.
Centerac Technologies Ltd Corporate Governance neutral materiality 3/10

21-09-2026

Centerac Technologies Ltd held its 33rd Annual General Meeting on September 21, 2026, via video conferencing. Both resolutions—adoption of annual accounts and reappointment of director Ramesh Sundaram—were passed with requisite majority. However, the reappointment of Mr. Sundaram saw 24,175 votes (0.387% of valid votes) recorded as invalid/abstain, and public non-institutional shareholders voted 89.27% against the resolution, indicating notable dissent.

  • · The AGM was conducted entirely through video conferencing; no shareholders attended in person or via proxy.
  • · Promoter and promoter group held 6,233,831 shares (99.81% of total capital) and voted 6,222,571 shares in favor of both resolutions.
  • · Public non-institutional shareholders voted 89.27% against the reappointment of Ramesh Sundaram, but their total votes (27,082) represented only 0.56% of their share capital.
  • · The scrutinizer confirmed nil votes via venue voting; all votes were cast through remote e-voting.
Hannah Joseph Hospital Ltd Insider Trading Disclosure neutral materiality 1/10

21-09-2026

The filing is a disclosure under SEBI (SAST) Regulation 29(2) for Hannah Joseph Hospital Ltd, involving Daniel Dayanand Fenn and his PACs. The filing does not specify whether the transaction is an acquisition or disposal, nor does it provide any transaction volume, value, or price. No promoter pledge changes, related party transactions, or financial metrics are disclosed. The sector is listed as technology, which may be a mismatch for a hospital company, but no further details are available. The filing appears to be a routine regulatory disclosure with no material quantitative data to assess market impact.

  • · Filing is under SAST Regulation 29(2), which requires disclosure when a person acquires or disposes of shares exceeding certain thresholds (typically 5%, 10%, 14%, 54%, 74%, etc.).
  • · The filing does not specify the threshold crossed or the exact percentage change in shareholding.
  • · The company is listed on BSE with scrip code 544687.
  • · Sector is listed as 'technology' in the filing summary, which may be an error or misclassification for a hospital company.
Unknown Rate Change neutral materiality 2/10

21-09-2026

This is a Reserve Bank of India (RBI) press release dated September 21, 2026, detailing money market operations as of September 19, 2026. The overnight segment saw a volume of ₹11,474.37 crore at a weighted average rate of 5.22%, while net liquidity absorbed stood at ₹89,513.00 crore. The report also shows a net durable liquidity surplus of ₹10,66,303.00 crore as of August 31, 2026.

  • · Overnight weighted average rate was 5.22%, with a range of 4.75-5.50%.
  • · MSF rate was 5.50%, SDF rate was 5.00%.
  • · No transactions in corporate bond repo or term money segments.
  • · Government of India surplus cash balance reckoned for auction was ₹0.00 crore.
  • · Net durable liquidity surplus of ₹10,66,303.00 crore as of August 31, 2026.
Vedanta Limited Insider Trading Disclosure neutral materiality 3/10

21-09-2026

Vedanta Limited filed a disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011 on September 21, 2026, regarding Citicorp International Ltd. The filing indicates a substantial acquisition of shares, but no specific transaction details (volume, value, or price) are disclosed. The sector is incorrectly listed as technology; Vedanta is a metals and mining company. The filing is timely but lacks quantitative data, making it difficult to assess materiality or market impact.

  • · Filing date: September 21, 2026
  • · Exchange: BSE
  • · Sector incorrectly listed as 'technology' - Vedanta is metals and mining
  • · No promoter or insider identity disclosed - Citicorp International Ltd is an external entity
Twamev Construction and Infrastructure Limited Market Update neutral materiality 3/10

21-09-2026

Twamev Construction and Infrastructure Limited disclosed that promoter group entity M/s Upendra Singh Constructions Private Limited sold 90,800 equity shares (0.06% of total share capital) during the second week of September 2026 for a total consideration of ₹6,40,140. The sale was not pre-intimated to the company and came to light through a routine beneficiary position (benpos) check. The disclosure is made as a good governance measure under SEBI (PIT) Regulations.

  • · The sale was not pre-intimated to the company; the company learned of it through a regular benpos check.
  • · The disclosure is made under Regulation 7(2)(b) of SEBI (PIT) Regulations, 2015 as a good governance measure.
Almondz Global Securities Limited Insider Trading Disclosure neutral materiality 2/10

21-09-2026

Innovative Money Matters Private Limited, a promoter group entity of Almondz Global Securities Limited, disclosed an open-market acquisition of 84,030 shares on September 18, 2026, increasing its stake from 0.46% to 0.50% of the voting capital. The transaction is a routine disclosure under SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011, and represents a marginal increase in promoter holding.

  • · The acquisition was made in the open market on September 18, 2026.
  • · The acquirer is classified as a Promoter group entity.
  • · The target company's equity share capital is ₹191,218,294 (191,218,294 shares) both before and after the acquisition.
  • · The total diluted share capital of the target company after the acquisition is 209,178,334 shares (₹209,178,334).
IIFL Finance Limited Debt Securities neutral materiality 5/10

21-09-2026

IIFL Finance Limited has allotted 13,000 secured, listed, rated, redeemable, non-convertible debentures of face value INR 1,00,000 each, aggregating to INR 1,30,00,00,000 (INR 130 Crore) on a private placement basis under Series D37 Reissue I. The debentures carry a coupon rate of 9.25% p.a., mature on September 01, 2028, and are secured by a first ranking pari passu charge on specified book debts and receivables. The allotment was approved by the Finance Committee on September 21, 2026, and the debentures are proposed to be listed on the National Stock Exchange of India Limited.

  • · Debentures have a tenor of 2 years from the deemed date of allotment
  • · Date of allotment: September 21, 2026; Date of maturity: September 01, 2028
  • · Interest payment scheduled on September 02, 2027; principal redemption on September 01, 2028
  • · Security: First ranking pari passu charge over current, standard and performing book debts arising from gold loans, MSME/business loans, real estate loans, capital market loans, and loans against property
  • · No delay in payment of interest/principal or any default noted; no cancellation or termination of the issuance
  • · Debentures are proposed to be listed on the National Stock Exchange of India Limited
Persistent Systems Limited Market Notice positive materiality 4/10

21-09-2026

Persistent Systems announced it has achieved the Databricks Brickbuilder Specialization for Banking, Financial Services and Insurance (BFSI), strengthening its ability to deliver governed AI solutions in financial services. The recognition highlights Persistent's expertise in unifying fragmented data and scaling AI pilots, with client successes including a leading European bank and a major Japanese financial services organization. However, the press release contains no financial metrics, and the company's brand value grew 22% YoY, though no other performance data was provided.

  • · Persistent is a Global Systems Integrator partner for Databricks at the Silver Tier.
  • · The Merchant Risk Management and Fraud Detection solution enables shift from reactive fraud controls to predictive, intelligent merchant risk management.
  • · Persistent helped a leading European bank modernize risk data infrastructure and customer data frameworks on Databricks.
  • · Persistent helped one of Japan's largest financial services organizations establish a governed data management framework on Databricks, improving oversight while reducing cloud costs.
  • · Persistent has achieved carbon neutrality.
  • · Persistent was named one of America's Greatest Workplaces for Inclusion & Diversity 2025 by Newsweek and Plant A Insights Group.
  • · Persistent ranks as the 12th strongest brand in the 2026 Brand Finance IT Services 25 report.
  • · Persistent is part of the MSCI India Index and included in Nifty Midcap 50, Nifty IT, Nifty MidCap Liquid 15, S&P BSE 100, and S&P BSE SENSEX Next 50.
Shriram Finance Limited Market Update neutral materiality 4/10

21-09-2026

Shriram Finance Limited's Banking & Finance Committee approved a tender offer to purchase for cash up to US$300 million of its US$750 million 6.625% Senior Secured Notes due 2027 and up to US$160 million of its US$500 million 6.15% Senior Secured Notes due 2028, issued under the company's US$3.5 billion Global Medium Term Note Programme. The move is a routine debt management action and does not involve any acquisition, regulatory action, or financial results.

  • · The Banking & Finance Committee meeting commenced at 11:30 AM and concluded at 12:10 PM on September 21, 2026.
  • · The company will make further intimations regarding the purchase of the Notes in accordance with applicable laws.
  • · The intimation is uploaded on the company's website at www.shriramfinance.in.
Crazy Snacks Ltd Market Update neutral materiality 4/10

21-09-2026

Crazy Snacks Ltd, listed on BSE SME on 03 July 2026, has sought a 3-month extension to hold its FY 2025-26 Annual General Meeting due to delays in finalizing financial statements and completing audit/statutory compliance caused by extensive IPO and listing activities. The extension is subject to approval from RoC Kanpur. No financial results were disclosed in this filing.

  • · Company listed on BSE SME platform on 03 July 2026
  • · Extension of AGM requires prior approval of RoC Kanpur
  • · Board meeting held on 21 September 2026, commenced at 12:00 pm and concluded at 12:30 pm
HEG Limited Insider Trading Disclosure neutral materiality 6/10

21-09-2026

LNJ Spark Advisory LLP, part of the promoter group, disclosed an acquisition of 40,536,893 equity shares (12.29% of diluted voting capital) in HEG Advanced Materials Limited (formerly HEG Limited) pursuant to a composite scheme of arrangement. The shares were allotted on 12th September 2026 in the ratio of 8 equity shares of HEG Advanced Materials for every 7 equity shares of Bhilwara Energy Limited. The acquisition increased LNJ Spark Advisory LLP's holding from nil to 12.29%, triggering a disclosure under Regulation 29(1) of the SEBI Takeover Regulations.

  • · The acquisition was made via allotment of shares under a composite scheme of arrangement involving HEG Limited (renamed HEG Advanced Materials Ltd.), HEG Graphite Ltd., and Bhilwara Energy Ltd.
  • · The exchange ratio was 8 equity shares of HEG Advanced Materials Ltd. for every 7 equity shares of Bhilwara Energy Ltd.
  • · Before the acquisition, LNJ Spark Advisory LLP held nil shares; after acquisition it holds 40,536,893 shares representing 12.29% of the diluted voting capital.
  • · The target company's equity share capital increased from ₹38,59,55,060 (19,29,77,530 shares of ₹2 each) to ₹65,95,97,824 (32,97,98,912 shares of ₹2 each).
  • · A separate disclosure under Regulation 29(2) is also being made by the promoter/promoter group including LNJ Spark Advisory LLP.
Clean Max Enviro Energy Solutions Ltd Market Update neutral materiality 2/10

21-09-2026

Clean Max Enviro Energy Solutions Ltd has appointed Mr. Vipin Balan as Head - Projects (Senior Management) and approved the sale of 2,600 shares each in three wholly owned subsidiaries—Clean Max Kyuu, Clean Max Roku, and Clean Max Ilgohp—to third parties for a total consideration of INR 78,000. The subsidiaries are newly incorporated with nil or negligible turnover and negative net worth, making the transactions financially immaterial. The sales are expected to close by 31 December 2026.

  • · Mr. Vipin Balan has over 31 years of experience in wind and solar energy projects across India.
  • · Clean Max Kyuu Private Limited was incorporated on 19 June 2026 and has not contributed to turnover or revenue.
  • · Clean Max Roku Private Limited was incorporated on 20 April 2026 and has not contributed to turnover or revenue.
  • · Clean Max Ilgohp Private Limited had nil turnover for FY 2025-26 and a negative net worth of INR -69,252.
  • · The sale of Clean Max Ilgohp shares was previously disclosed on 28 April 2026; the board has now approved revised transaction terms.
  • · None of the buyers belong to the promoter/promoter group/group companies.
  • · The transactions do not fall within related party transactions.
HEG Limited Insider Trading Disclosure neutral materiality 5/10

21-09-2026

HEG Advanced Materials Limited (formerly HEG Limited) disclosed that its promoter group, led by Ravi Jhunjhunwala, acquired 9,16,59,141 equity shares (4.44% of voting capital) on September 12, 2026, pursuant to a Scheme of Arrangement, increasing promoter holding from 56.28% to 60.72% of the total voting capital. The acquisition was made through allotment of shares under the scheme, with no consideration paid in cash. Post-acquisition, the promoter group holds 20,02,68,011 shares (60.72%), while the company's total equity capital increased from ₹38,59,55,060 to ₹65,95,97,824 (shares from 19,29,77,530 to 32,97,98,912).

  • · The acquisition was made pursuant to a Scheme of Arrangement directly involving the target company, with allotment date of 12th September 2026.
  • · No shares were encumbered, and no warrants or convertible securities were involved in the transaction.
  • · The promoter group's total holding post-acquisition is 60.72% of the total diluted voting capital, which remains unchanged at 60.72%.
  • · The company's total equity capital increased by approximately 70.9% from ₹38,59,55,060 to ₹65,95,97,824 due to the share allotment.
  • · The disclosure was filed under Regulation 29(2) of the SEBI Takeover Regulations, 2011.
Sky Industries Ltd Market Update neutral materiality 5/10

21-09-2026

Sky Industries Ltd has shifted its manufacturing operations from its leased Bhiwandi unit to a new, larger facility in Gujarat, effective September 21, 2026. The move is part of an operational realignment aimed at enhancing manufacturing capacity and resource utilization, while the Bhiwandi unit has ceased operations. No financial impact or forward-looking guidance was provided in the filing.

  • · The Bhiwandi unit operated from leased premises and was primarily engaged in manufacturing value added goods.
  • · The Gujarat unit offers significantly larger and more suitable operational infrastructure.
  • · The shift provides enhanced manufacturing capacity, improved utilization of resources, and scope for future expansion.
  • · The company has ceased operations at the Bhiwandi unit in the leased premises.
Maruti Suzuki India Limited Company Update neutral materiality 1/10

21-09-2026

Maruti Suzuki India Limited has informed the stock exchanges that a meeting with an investor group is scheduled for September 24, 2026, as per Regulation 30(6) of SEBI LODR. The date is subject to change due to exigencies. No financial figures or performance details were disclosed in this filing.

Emkay Global Financial Services Limited Market Notice neutral materiality 5/10

21-09-2026

Emkay Global Financial Services allotted 1,00,000 equity shares to promoter Prakash Kacholia upon conversion of an equal number of warrants, at an issue price of Rs. 239.50 per share, receiving the balance consideration of Rs. 1,79,62,500. This increases the company's paid-up capital from Rs. 27,82,55,800 to Rs. 27,92,55,800, and Kacholia's post-allotment holding rises to 19.70% from 19.41%. The allotment is part of the earlier preferential warrant issuance of 95,00,000 warrants, with cumulative allotments to Kacholia now totaling 7,50,000 shares.

  • · The company had earlier allotted 95,00,000 convertible warrants on 24th October 2025, including 75,00,000 to Antique Securities Private Limited (non-promoter) for Rs. 179,62,50,000, 12,50,000 to Mr. Krishna Kumar Karwa for Rs. 29,93,75,000, and 7,50,000 to Mr. Prakash Kacholia for Rs. 17,96,25,000.
  • · Mr. Kacholia has received cumulative allotments of 7,50,000 equity shares across 8 tranches between 30th April 2026 and 21st September 2026.
  • · Mr. Krishna Kumar Karwa has received cumulative allotments of 12,50,000 equity shares across 4 tranches between 12th December 2025 and 12th May 2026.
  • · The newly allotted shares rank pari-passu with existing equity shares, including dividend rights.
  • · The Management Committee meeting commenced at 2:00 PM IST and concluded at 2:30 PM IST on 21st September 2026.
Tamilnadu Steel Tubes Ltd. Market Notice neutral materiality 3/10

21-09-2026

Tamilnadu Steel Tubes Ltd. announced the completion of the second/final tenure of Independent Director Mrs. Divya Abishek, effective from the close of business hours on September 20, 2026. The Board unanimously passed resolutions to note her cessation, record appreciation for her contributions, and authorize filing of statutory forms (including Form DIR-12) with the ROC and disclosures to stock exchanges. No financial or operational metrics were disclosed in this filing.

  • · Board meeting held on August 14, 2026, at 12:30 p.m. at the Registered Office in Chennai.
  • · Mrs. Divya Abishek's DIN is 08709050.
  • · Cessation effective from close of business hours on September 20, 2026.
  • · Resolution authorizes Company Secretary or any Director to file Form DIR-12 with ROC and make stock exchange disclosures.
Smart Finsec Limited Corporate Governance neutral materiality 3/10

21-09-2026

Smart Finsec Limited held its 31st Annual General Meeting on September 21, 2026, via video conferencing, chaired by Mr. Sachit Khera. Shareholders adopted the audited standalone financials for FY ended March 31, 2026, and approved the re-appointment of Ms. Vimmi Sachdev as a director retiring by rotation. The meeting also passed special resolutions to increase borrowing limits and authorize creation of charge/security on company assets. The meeting had 73 members in attendance and lasted about 48 minutes.

  • · AGM conducted via Video Conferencing/OAVM on September 21, 2026, from 11:40 AM to 12:28 PM (48 minutes).
  • · Resolutions included adoption of audited standalone financials for FY ended March 31, 2026, re-appointment of Vimmi Sachdev (retiring by rotation), increase in borrowing limits under Section 180(1)(c), and creation of charge/security under Section 180(1)(a).
  • · All directors attended except Ms. Vimmi Sachdev (due to personal reasons).
  • · Mr. Pawan Kumar Mishra was appointed Scrutinizer for e-voting; members could vote during the meeting and for 15 minutes after conclusion.
  • · Quorum was confirmed present.
Gravity India Ltd-$ Market Notice neutral materiality 6/10

21-09-2026

Gravity India Ltd has issued a correction to its 39th Annual Report for FY2025-26, fixing a typographical error on page 15 regarding the remote e-voting end date, which is now Thursday, 24th September 2026 instead of Monday, 25th September 2026. The AGM is scheduled for Friday, 25th September 2026 via video conferencing, and the agenda includes adoption of financial statements, director re-appointments, appointment of statutory and secretarial auditors, regularization of three directors, and a special resolution to raise up to ₹90 Crore through a Qualified Institutions Placement (QIP). The QIP proceeds will be used for working capital and general corporate purposes (not exceeding 25% of the amount raised).

  • · The correction was filed on 21st September 2026, referencing an earlier announcement dated 1st September 2026.
  • · The corrected e-voting end date is Thursday, 24th September 2026.
  • · The AGM will be held on Friday, 25th September 2026 at 4:00 PM IST via Video Conferencing / Other Audio-Visual Means.
  • · The company proposes to appoint M/s AVKAS & Co. as Statutory Auditor for five years from FY2026-27 to FY2030-31.
  • · The company proposes to appoint CS Arvind Sudra as Secretarial Auditor for five years from FY2026-27 to FY2030-31.
  • · Three directors (Mukesh Parmar, Kuldipsinh Rathod, Ankit Goel) are being regularized as additional directors.
  • · The QIP allotment must be completed within 365 days from the date of passing the special resolution.
  • · The QIP will be issued to Qualified Institutional Buyers (QIBs) only, excluding promoters and related parties.
  • · The floor price for the QIP will be determined on the 'Relevant Date' (the date of the board meeting deciding to open the QIP).
  • · The company's registered office is in Bhiwandi, Thane, Maharashtra; corporate headquarters in Ahmedabad.
Kaynes Technology India Limited Corporate Governance neutral materiality 3/10

21-09-2026

Kaynes Technology India Limited held its 18th Annual General Meeting on September 17, 2026, via video conference, with all eight resolutions passed by requisite majority. The resolutions included adoption of audited financial statements, re-appointment of directors (including Mrs. Savitha Ramesh, Mr. Jairam Paravastu Sampath, Mr. Alexander Koshy, and Mrs. Poornima Ranganath), appointment of statutory auditors (Walker Chandiok & Co LLP), ratification of cost auditors' remuneration, and approval to grant loans/guarantees under Section 186 of the Companies Act. While all resolutions passed with overwhelming support, the appointment of statutory auditors saw notable dissent from public institutional shareholders (6.10% against), and the re-appointment of independent directors also faced some opposition from public non-institutional shareholders (up to 2.00% against).

  • · All eight resolutions were passed by requisite majority, with no resolution failing.
  • · The appointment of statutory auditors (Resolution 3) saw the highest opposition: 6.10% of public institutional votes were against, and total votes against were 1.48%.
  • · Re-appointment of independent directors (Resolutions 6 and 7) also faced some dissent, with public non-institutional shareholders voting against at 1.56% and 2.00% respectively.
  • · The meeting was held via video conference (VC) or other audio-visual means (OAVM).
  • · The record date for voting was September 11, 2026.
Gravity India Ltd-$ Corporate Governance neutral materiality 6/10

21-09-2026

Gravity India Ltd has issued a notice for its 39th Annual General Meeting (AGM) to be held on September 25, 2026, via video conferencing. The AGM agenda includes adoption of audited financial statements for FY2026, re-appointment of a retiring director, appointment of statutory and secretarial auditors, regularization of three directors (including MD & CEO and CFO), and two special resolutions: raising up to ₹90 Crore through a Qualified Institutions Placement (QIP) and alteration of the company's main objects clause. The filing also corrects a typographical error on the e-voting end date from September 25 to September 24, 2026.

  • · The AGM will be held on Friday, 25th September 2026 at 4:00 p.m. IST through VC/OAVM only.
  • · The e-voting end date was corrected from 25th September to 24th September 2026.
  • · Item 8 seeks shareholder approval for a QIP of up to ₹90 Crore, with proceeds used for working capital and general corporate purposes (max 25% for general corporate).
  • · Item 9 proposes alteration of the main objects clause of the Memorandum of Association.
  • · The company proposes to appoint M/s AVKAS & Co. as statutory auditor for five years (FY2026-27 to 2030-31).
  • · The company proposes to appoint CS Arvind Sudra as secretarial auditor for five years (FY2026-27 to 2030-31).
Schneider Electric Infrastructure Limited Market Notice neutral materiality 3/10

21-09-2026

Schneider Electric Infrastructure Limited voluntarily disclosed an ESG rating of 70 out of 100 from Crisil ESG Ratings & Analytics, received on September 19, 2026. The rating was independently prepared by the agency using public data, as the company did not engage them for the assessment. This disclosure, made under Regulation 30 of SEBI LODR, reflects the company's commitment to governance transparency.

  • · The ESG rating was not solicited by the company; the agency used publicly available data.
  • · The disclosure is voluntary, in line with good governance principles.
  • · The rating was received on September 19, 2026, and disclosed on September 21, 2026.
DHP India Ltd. Corporate Governance neutral materiality 5/10

21-09-2026

DHP India Ltd. held its 35th Annual General Meeting on September 21, 2026, where all three ordinary resolutions (adoption of financial statements, and other items) were passed by requisite majority. The voting results showed 22,04,134 shares (73.47% of total paid-up capital) voted in favor, with no votes against, indicating strong shareholder support. However, the total votes polled represented only 73.47% of the 30,00,000 equity shares, and the company reported a low shareholder participation of only 3 valid votes, which may raise governance concerns.

  • · The e-voting period was from September 18, 2026 (9:00 a.m.) to September 20, 2026 (5:00 p.m.).
  • · The AGM was held on September 21, 2026 at 11:00 A.M. at Gallway House, 1, Middleton Row, Kolkata – 700 071.
  • · The company has 30,00,000 equity shares of Rs.10 each, with total paid-up capital of Rs.3,00,00,000.
  • · All three resolutions were passed by requisite majority, with no votes against any resolution.
  • · The Scrutinizer's report was prepared by Sushil Tiwari, a Company Secretary-in-Practice, and the voting results were in the prescribed format under Regulation 44 of SEBI LODR.
Resonance Specialties Limited Corporate Governance positive materiality 6/10

21-09-2026

Resonance Specialties Limited announced that its shareholders have approved, via postal ballot, an ordinary resolution authorizing a material related-party transaction with Kaygee Laboratories Private Limited (KLPL) for the purchase of KLPL's manufacturing facility at Mandideep on a slump-sale basis for a consideration of ₹29.98 crore. The resolution was passed with overwhelming support: 37,800 votes in favour (99.823%) and only 67 votes against (0.183%). The voting period ran from August 20, 2026 to September 18, 2026, and the resolution is deemed passed on September 18, 2026.

  • · The cut-off date for entitlement to vote was August 14, 2026.
  • · Remote e-voting commenced at 9:00 a.m. IST on August 20, 2026 and ended at 5:00 p.m. IST on September 18, 2026.
  • · The scrutinizer's report was issued by Alok Khairwar & Associates (UCN No: S2014MH257300) on September 19, 2026.
  • · The resolution was classified as an ordinary resolution under special business.
  • · No invalid/abstained votes were recorded.
Ador Welding Limited Market Update neutral materiality 3/10

21-09-2026

Ador Welding Limited disclosed that its Nomination & Remuneration Committee approved the vesting of 6,625 employee stock options under the Ador Employee Stock Option Plan 2025, effective 22nd September 2026. The exercise price is ₹10 per share, with a 3-year exercise period and a 30-day exercise window starting 26th October 2026. Additionally, the committee amended the plan to cap individual grants at 2,000 options per employee per grant, and 3,000 options lapsed due to resignation.

  • · Exercise window for first tranche: 26th October 2026 to 24th November 2026 (30 days)
  • · Vested options must be exercised within 3 years from vesting date
  • · Shares to be allotted within 30 days from closure of exercise window, subject to regulatory approvals
  • · Plan amendment caps individual grants at 2,000 options per employee per grant (Clause 3.3)
  • · 3,000 options lapsed due to resignation
R.R.Financial Consultants Ltd. Corporate Governance neutral materiality 3/10

21-09-2026

R.R. Financial Consultants Ltd. held its 39th Annual General Meeting on September 21, 2026, via video conferencing. All six resolutions, including the adoption of audited financial statements, re-appointment of a director, name change, material related party transactions, and issuance of non-convertible debt securities via private placement and public issue, were passed. No queries were received from shareholders, and the meeting concluded without any reported dissent or significant discussion.

  • · The AGM was held at the registered office in New Delhi and via VC/OAVM.
  • · Quorum was present throughout the meeting.
  • · The scrutinizer's report on e-voting will be posted on the company's website and stock exchange within 48 hours.
  • · Venue voting facility remained open for 30 minutes after the meeting's conclusion.
  • · The meeting lasted 20 minutes (12:30 PM to 12:50 PM).
Repco Home Finance Limited Debt Securities neutral materiality 2/10

21-09-2026

Repco Home Finance Limited redeemed Commercial Papers (unlisted) aggregating to Rs. 75 crore, with ISIN INE612J14596, on the maturity date of 21st September 2026. The company confirmed that the maturity proceeds were duly paid to the holders, and the Commercial Papers stand fully redeemed. This is a routine debt redemption disclosure with no financial impact on ongoing operations.

  • · Commercial Paper ISIN: INE612J14596
  • · Maturity date: 21st September 2026
  • · Commercial Papers were unlisted
  • · Redemption was for the full amount of Rs. 75 crore
Rikhav Securities Limited Analyst/Investor Meet neutral materiality 2/10

21-09-2026

Rikhav Securities Limited has scheduled an investor/analyst group meeting on September 24, 2026, at 4:00 PM IST, to be held virtually. The company confirmed that no unpublished price-sensitive information (UPSI) will be shared during the interaction, and the meeting may be cancelled, rescheduled, or postponed due to exigencies.

  • · Meeting scheduled for Thursday, September 24, 2026, at 04:00 PM IST
  • · Meeting mode: Virtual
  • · Disclosure made under Regulation 30 read with Schedule III of SEBI LODR Regulations, 2015
  • · Company scrip code: 544340, ISIN: INE0CFH01028
  • · No UPSI will be shared during the interaction
Dilip Buildcon Limited Market Notice positive materiality 8/10

21-09-2026

Dilip Buildcon Limited (DBL) has executed definitive agreements with Alpha Alternatives to divest its stake in ten SPVs holding an under-construction solar portfolio of ~1,363 MW (AC) in Madhya Pradesh, with an enterprise value of approximately INR 6,829 Cr. The transaction advances DBL's asset-light 'DBL 2.0' strategy, enabling capital recycling and balance sheet deleveraging. However, the deal is subject to regulatory approvals and customary closing conditions, and the portfolio's commercial operations are not expected until September 2027, implying a multi-year timeline before full monetization.

  • · The transaction follows a prior announcement dated August 10, 2026.
  • · DBL's remaining 51% stake will also be acquired by Alpha Alternatives-led funds/InvIT upon portfolio completion.
  • · The portfolio is being developed under PPAs with MPPMCL under the PM-KUSUM Component C scheme.
  • · Commercial operations are targeted for September 2027.
  • · JM Financial acted as exclusive financial advisor, Khaitan & Co. as legal advisor to DBL, and AZB & Partners as legal advisor to Alpha Alternatives.
  • · DBL operates across 20 states and 1 Union Territory with a workforce of 21,221 employees and a fleet of over 10,394 equipment units.
Jindal Saw Limited Market Update neutral materiality 5/10

21-09-2026

CARE Ratings reaffirmed Jindal Saw's credit ratings for its Commercial Paper (CARE A1+) and Non-Convertible Debentures (CARE AA; Stable) on September 18, 2026, based on the company's FY26 (Audited) and Q1FY27 (Unaudited) performance. The CP rating covers an aggregate of Rs.400.00 crore, with Rs.100.00 crore carved out from working capital limits, while the NCD rating covers Rs.500.00 crore. The reaffirmation indicates stable credit quality with no change in outlook.

  • · NCDs are repayable by March 26, 2031 in annual installments of Rs.166.70 crore starting from March 26, 2029.
  • · The CP rating is valid for the tenure of the instrument once placed; if not placed within two months (by November 18, 2026), the rating must be revalidated.
  • · CARE Ratings reviewed the company's FY26 (Audited) and Q1FY27 (Unaudited) financial performance for the rating action.
DHP India Ltd. Corporate Governance positive materiality 5/10

21-09-2026

DHP India Ltd. held its 35th Annual General Meeting on September 21, 2026, where all three ordinary resolutions were passed by an overwhelming majority. The resolutions included adoption of audited financial statements for FY ended March 31, 2026, declaration of a final dividend of ₹4 per equity share (40% of equity share capital) totaling ₹120.00 Lakhs, and re-appointment of Mr. Janak Bhardwaj as a Non-Executive Director liable to retire by rotation. Voting results showed 22,04,466 equity shares in favor and only 1 share against each resolution, reflecting near-unanimous shareholder support.

  • · The AGM was held at Y.M.C.A. Gallway House, 1, Middleton Row, Kolkata – 700 071.
  • · E-voting was conducted from September 18, 2026 to September 20, 2026.
  • · 31 shareholders participated via e-voting, holding 22,04,135 equity shares (73.471% of voting rights).
  • · 3 shareholders participated via manual ballot, holding 332 equity shares (0.011% of voting rights).
  • · All three resolutions passed with 22,04,466 votes in favour and 1 vote against each.
  • · The dividend of ₹4 per share will be paid after deduction of Income Tax at source to shareholders on the register as of September 21, 2026.
  • · The company has 30,00,000 equity shares of face value ₹10 each.
  • · Corporate shareholders (Dabriwala Constructions Pvt. Ltd. and Dolphin Properties Pvt. Ltd.) hold 3,73,339 shares (12.45% of share capital).
Page Industries Limited Market Notice positive materiality 3/10

21-09-2026

Page Industries Limited disclosed that the Dubai Court has dismissed a claim initiated by Yellow Flower Trading LLC (YFT) due to YFT's failure to pay the court-ordered expert deposit. The Court also ordered YFT to bear court fees, costs, and AED 1,000 towards advocates' fees, marking a favorable legal outcome for Page Industries.

  • · The claim was dismissed due to YFT's failure to pay the court-ordered expert deposit.
  • · The Court directed YFT to bear court fees and costs in addition to the advocates' fees.
  • · The company will disclose further material developments if any.
Thyrocare Technologies Limited Corporate Governance mixed materiality 8/10

21-09-2026

Thyrocare Technologies' Board approved the sale of its entire 100% stake in wholly owned subsidiary Nueclear Healthcare Limited (NHL) to Trovera Healthcare Private Limited for an aggregate consideration of approximately ₹141.40 Crore, comprising CCPS worth ₹59.50 Crore and cash of approximately ₹81.90 Crore. Concurrently, the Board approved the purchase of immovable properties (land and buildings) in Gurugram and Hyderabad from NHL for ₹20.59 Crore to secure continued operations of its core pathology labs. The divestiture, which requires shareholder approval, will allow Thyrocare to exit the radiology business and focus on its core pathology operations; however, NHL contributed only 5.38% of consolidated turnover and its PAT margin (10.9%) lagged Thyrocare's standalone margin (19.2%), indicating the divested business was underperforming relative to the core.

  • · The sale of NHL is subject to shareholder approval by special resolution, with a mandatory public shareholder majority (no interested party vote).
  • · Trovera Healthcare Private Limited was incorporated on June 16, 2026, and has no audited financials for the preceding three years.
  • · The CCPS are convertible into equity shares of Trovera at a 1:1 ratio, upon the earlier of an IPO filing or 20 years from issuance.
  • · The purchase of properties from NHL is a related party transaction (wholly owned subsidiary) but conducted at arm's length based on a registered valuer's report.
  • · The divestiture is expected to be completed by November 30, 2026.
  • · NHL's PAT margin (10.9%) was significantly lower than Thyrocare's standalone PAT margin (19.2%), indicating the radiology business was less profitable.
VASHU BHAGNANI INDUSTRIES LIMITED Corporate Governance neutral materiality 5/10

21-09-2026

Vashu Bhagnani Industries Limited (formerly Pooja Entertainment and Films Limited) announced that its Board of Directors has approved a proposal to directly list the company's equity shares on the National Stock Exchange of India (NSE) without any public offer or further issuance of shares. The company will submit an application to NSE in due course, subject to necessary approvals. No financial figures or period-over-period comparisons were provided in this filing.

  • · The company was formerly known as Pooja Entertainment and Films Limited.
  • · The Board meeting started at 3:00 PM and concluded at 3:30 PM on September 21, 2026.
  • · The direct listing will not involve any public offer or further issuance of shares.
  • · The company's equity shares are currently listed on BSE (Scrip Code: 532011, ISIN: INE147C01017).
Lloyds Metals And Energy Limited Corporate Governance positive materiality 8/10

21-09-2026

The Board of Lloyds Metals and Energy Limited approved the allotment of 1,41,969 equity shares under its ESOP Plan-2017 at Rs. 4 per share, increasing paid-up capital to Rs. 56,30,48,920. The Board also approved the issuance of NCDs aggregating up to Rs. 600 Crore and Rs. 950 Crore on a private placement basis. Additionally, the Board approved capacity enhancements for DRI plants at Ghugus (to 8,15,000 MTPA) and Konsari (to 92,400 MTPA), with total investment of Rs. 190 Crore funded through internal accruals, expected to improve margins and profitability.

  • · The Board meeting commenced at 03:00 PM IST and concluded at 03:25 PM IST on September 21, 2026.
  • · The NCD issuance is within the overall limits previously approved by the Board on May 5, 2026, and the existing in-principle approval dated October 13, 2025.
  • · The capacity enhancement will be achieved through debottlenecking measures and optimisation of process and technological parameters.
  • · The expansion aligns with the Company's strategy of strengthening its presence across the complete steel-making value chain and enables efficient utilization of available iron ore reserves.
  • · The capacity addition at both plants is expected to be completed within a period of one year.
  • · Mode of financing for both capacity additions is internal accruals.
SMT ENGINEERING LIMITED Market Notice neutral materiality 5/10

21-09-2026

SMT Engineering Limited issued a corrigendum to its AGM notice dated September 03, 2026, correcting and modifying Item No. 5 regarding the preferential issue of warrants. The corrigendum revises the total number of warrants to 1,42,858 and clarifies that the issue proceeds, totaling ₹4,00,00,240, will be utilized for investment in Chemerix Life Sciences Private Limited (step-down wholly owned subsidiary) for capital expenditure on a manufacturing unit, with the remainder for general corporate purposes. The AGM remains scheduled for September 30, 2026, via video conferencing.

  • · The corrigendum corrects the total number of warrants to 1,42,858, which was previously stated incorrectly.
  • · The funds for investment in Chemerix Life Sciences Private Limited are to be utilized within 12 months from receipt of funds.
  • · The AGM is scheduled for September 30, 2026, at 12:30 P.M. (IST) via video conferencing.
  • · The corrigendum is available on the company's website, CDSL's e-voting platform, and BSE's website.
Mafatlal Industries Ltd. Analyst/Investor Meet neutral materiality 2/10

21-09-2026

Mafatlal Industries Ltd. has informed BSE that its officials will attend a virtual group investor meeting on September 24, 2026, at 11:30 am onwards, pursuant to Regulation 30 of SEBI LODR. The company will only refer to publicly available documents and will not share any unpublished price-sensitive information. No financial results or operational updates were disclosed in this filing.

  • · Meeting date: September 24, 2026
  • · Meeting time: 11:30 am onwards
  • · Meeting type: Virtual Group Meeting
  • · BSE Code: 500264
  • · Regulation 30 read with Schedule III, Part A of SEBI LODR
Godrej Properties Limited Corporate Governance positive materiality 6/10

21-09-2026

Godrej Properties Limited announced that its shareholders have approved, with a 99.61% majority, the re-designation of Pirojsha Godrej as Non-Executive Non-Independent Director and Chairperson of the Company. The resolution was passed via postal ballot with voting closing on September 19, 2026. While the approval was overwhelming, a small dissent of 0.39% was recorded, and 23,021 votes were declared invalid.

  • · Record date for voting eligibility was August 14, 2026.
  • · Postal ballot notice was dispatched via email on August 20, 2026.
  • · Remote e-voting period ran from August 21, 2026 to September 19, 2026.
  • · Newspaper advertisements were published in Financial Express (English) and Loksatta (Marathi) on August 21, 2026.
  • · Total number of shareholders on record date was 198,345.
  • · 1,185 members voted through remote e-voting on the resolution.
  • · 53 members voted against the resolution.
PS IT Infrastructure & Services Limited Corporate Governance neutral materiality 3/10

21-09-2026

PS IT Infrastructure & Services Limited announced voting results for its 44th Annual General Meeting held via video conferencing on September 20, 2026. Both ordinary resolutions—adoption of audited financial statements for FY ending March 31, 2026, and re-appointment of Mr. Kawarlal K. Ojha as a director—were approved by 99.03% of votes in favor. Attendance was low, with only 2 promoter-group members and 48 public shareholders joining through VC, and no in-person/proxy attendees among 5,077 eligible shareholders.

  • · The voting was conducted via remote e-voting from September 18 to September 20, 2026, and during the AGM up to 1:00 PM on September 20.
  • · No shareholders attended in person or through proxy from either promoter or public categories.
  • · The scrutinizer's report was submitted on or before September 21, 2026.
  • · Mr. Kawarlal K. Ojha is listed as Suspended Managing Director, which may indicate an ongoing internal or regulatory issue.
Nucleus Software Exports Limited Market Notice neutral materiality 2/10

21-09-2026

Nucleus Software Exports Limited announced the appointment of Mr. Sudhanshu Tripathi as Chief Marketing Officer, effective September 21, 2026. Mr. Tripathi brings over two decades of experience, most recently as CMO and Head of ESG at Quick Heal Technologies Limited. This is a routine senior management appointment disclosure under Regulation 30 of SEBI LODR Regulations.

  • · Mr. Tripathi holds a B.E. in Electrical Engineering from Nagpur University and a management degree in Strategy and Marketing from The University of Western Australia.
  • · He serves on the Advisory Board of the CMO Council (India) and on the ASSOCHAM National Council on Branding & Marketing.
  • · His case study has been featured in Harvard Business Review.
  • · No relationship exists between the appointee and the company's directors.
Premier Energies Limited Corporate Governance neutral materiality 6/10

21-09-2026

Premier Energies Limited held its 31st AGM on September 21, 2026, where shareholders approved all agenda items, including the adoption of financial statements, confirmation of a total dividend of ₹1.00 per equity share (₹0.25 first interim + ₹0.75 second interim), and the re-appointment of key directors and auditors. A key special resolution was passed to raise up to ₹5,000 Crore through the issuance of equity shares or convertible securities. Management highlighted strong financial performance and expansion into battery energy storage, but the filing does not disclose specific financial metrics or performance trends.

  • · The AGM was conducted via Video Conferencing and lasted from 11:30 AM to 12:38 PM IST.
  • · All eight agenda items (4 ordinary, 4 special) were passed by shareholders.
  • · Mr. Sudhir Moola was appointed as a Director, retiring by rotation.
  • · M/s. Deloitte Haskins & Sells were re-appointed as statutory auditors.
  • · Mr. Chiranjeev Singh Saluja was re-appointed as Managing Director.
  • · Mr. Surenderpal Singh Saluja was re-appointed as Chairman and Whole-time Director.
  • · The cost auditor's remuneration was ratified.
  • · No qualifications or adverse remarks were noted in the Statutory Auditors' or Secretarial Audit reports for FY2026.
NHPC Limited Market Update neutral materiality 4/10

21-09-2026

NHPC Limited disclosed that Crisil ESG Ratings & Analytics Ltd has assigned an ESG rating of 'Crisil ESG 64' and a Core ESG rating of 'Crisil Core ESG 74' to the company. The rating was done independently by Crisil using publicly available data, without engagement from NHPC.

  • · The ESG rating of 'Crisil ESG 64' and Core ESG rating of 'Crisil Core ESG 74' were assigned.
  • · The rating was based on publicly available data and not commissioned by NHPC.
  • · This disclosure follows a previous letter dated August 3, 2026.
Kaycee Industries Ltd. Director Resignation neutral materiality 2/10

21-09-2026

Kaycee Industries Ltd. announced the resignation of Mr. D Rajeshkumar (DIN:00003126), Non-Executive Non-Independent Director, effective from the close of business on September 21, 2026. The resignation is attributed to other professional commitments, and the director confirmed no other reasons for his departure.

  • · Mr. D Rajeshkumar ceased to be a member of all Board committees he was part of.
  • · The resignation letter was dated September 21, 2026, and the director confirmed no reasons other than professional commitments.
  • · The company disclosed the event under Regulation 30 of SEBI Listing Regulations and SEBI Circular dated January 30, 2026.
IRB InvIT Fund Market Update mixed materiality 8/10

21-09-2026

IRB InvIT Fund reported unaudited consolidated financial results for Q1 FY27 (period ended June 30, 2026). Total income increased 68.4% YoY to ₹4,922.14 million, driven by a 66.4% rise in revenue from operations to ₹4,746.34 million. However, profit after tax declined 20.2% YoY to ₹794.44 million, and earnings per unit fell sharply from ₹1.72 to ₹0.62, reflecting higher finance costs and amortization expenses.

  • · The financial statements were prepared for inclusion in the Preliminary Placement Documents and Placement Document in connection with a proposed issue of new units of the Trust.
  • · The Trust added 4 new subsidiaries effective November 1, 2025 (IRB Kishangarh Gulabpura Tollway Limited, IRB Hapur Moradabad Tollway Limited, Kaithal Tollway Limited) and December 1, 2025 (VM7 Expressway Private Limited).
  • · 11 subsidiaries reported a combined net loss after tax of ₹1,276 million for Q1 FY27.
  • · Total assets decreased slightly from ₹2,29,810.21 million (March 31, 2026) to ₹2,27,471.85 million (June 30, 2026).
  • · Unit capital remained unchanged at ₹1,01,748.10 million during Q1 FY27.
  • · The auditor's report includes an emphasis of matter regarding the presentation of 'Unit Capital' as 'Equity' to comply with InvIT Regulations.
Aar Shyam India Investment Company Ltd Corporate Governance neutral materiality 6/10

21-09-2026

Aar Shyam India Investment Company Ltd held its Annual General Meeting on September 21, 2026, via video conferencing, lasting only 8 minutes. The meeting approved several special resolutions including a preferential issue of equity shares on a share swap basis for the acquisition of SVR Electro Projects Private Limited, increasing borrowing limits, altering the company's object clause, adopting a new set of Articles of Association, and shifting the registered office within Delhi. Perla Pavani was appointed Managing Director, and Pooja Manish Pandey was appointed as an Independent Director.

  • · Meeting was held via Video Conferencing/Audio Visual means.
  • · Meeting duration: 8 minutes (03:00 PM to 03:08 PM).
  • · Remote e-voting was open from September 18 to September 20, 2026.
  • · A poll was conducted at the meeting for members who did not vote electronically.
  • · 14 resolutions were considered and passed, including 4 ordinary resolutions and 10 special resolutions.
  • · Special resolutions included alteration of object clause, adoption of new AoA, increase in borrowing limits, creation of mortgage/charge on assets, increase in investment/loan limits, preferential issue of shares for acquisition of SVR Electro Projects, issuance of equity shares to non-promoters for cash, appointment of Managing Director, appointment of Independent Director, shifting of registered office, and change of company name and MOA/AOA clauses.
PS IT Infrastructure & Services Limited Corporate Governance neutral materiality 1/10

21-09-2026

PS IT Infrastructure & Services Limited submitted the Scrutinizer Report for e-voting and ballot conducted at its 44th Annual General Meeting held on September 21, 2026. The report was issued by M/s. Sanjay Kumar Vyas, Practicing Company Secretaries, who served as the Scrutinizer. The filing is a routine procedural disclosure with no financial results or material business updates.

  • · The 44th AGM was held on September 21, 2026 at 12:15 PM.
  • · The Scrutinizer report covers both e-voting and ballot voting.
  • · The company's Managing Director, Kawarlal Kanhaiyalal Ojha, is noted as 'Suspended' in the filing.
Veedol Corporation Limited Corporate Governance mixed materiality 7/10

21-09-2026

Veedol Corporation Limited held its 103rd AGM on August 24, 2026, reporting standalone revenue of ₹1,546.96 crore (up from ₹1,527.28 crore) and consolidated revenue of ₹2,168.54 crore. Profit after tax stood at ₹135.16 crore standalone and ₹191.62 crore consolidated, with the Middle East operations turning profitable for the first time. However, the company noted a conscious strategic choice to prioritize margin protection over volume, and the global economic outlook remains uneven with geopolitical tensions.

  • · Global lubricants market valued at USD 178.98 billion in 2025, India's market at USD 4.92 billion.
  • · Renewable energy to 30% of electricity consumption at plants.
  • · Remote e-voting facility from 10 A.M. Friday, 21st August, 2026 to 5 P.M. IST Sunday, 23rd August, 2026.
  • · Cut-off date for voting was Monday, 17th August, 2026.
  • · No qualifications or adverse comments in the auditor's report for FY 2025-26.
  • · Middle East operations turned profitable and began contributing dividends for the first time.
Pace Digitek Limited Market Notice positive materiality 8/10

21-09-2026

Pace Digitek Limited's material subsidiary, Lineage Power Private Limited, has received a Letter of Award worth ₹4,884.61 Million (inclusive of taxes) from NTPC GE Power Services Private Limited for the supply, delivery, testing, and commissioning of 5.015 MWh BESS Containers along with BMS and EMS, including a 12-year comprehensive maintenance contract. The order is to be completed by December 31, 2026, and is not a related party transaction.

  • · The order is from a domestic entity (NTPC GE Power Services Private Limited).
  • · The order is not a related party transaction and no promoter/group company interest is involved.
  • · The order includes a 12-year comprehensive maintenance contract (CMC).

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