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Table of Contents
1.Amalgamation
INDIA SIL HYDRO POWER AND MANGANESE LTD. has announced the temporary suspension of operations at Unit 2 located in Garbham Village, Vizianagaram, Andhra Pradesh, due to adverse market conditions. This unit contributed significantly to the company's financials, with a turnover of Rs. 29.76 Crores, representing 26% of the total turnover, and a net worth contribution of Rs. 16.50 Crores, accounting for 13.7% of the company's net worth. The closure is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. https://www.bseindia.com/xml-data/corpfiling/AttachLive/68012bbb-31a7-4593-a578-6a935702e176.pdf |
Integra Essentia Limited has announced the proposed amalgamation with G G Engineering Limited. The merger aims to enhance operational capabilities and market competitiveness by consolidating strengths in infrastructure and engineering products. The amalgamation is expected to create economic value through business synergies, cost savings, and improved financial performance. |
Integra Essentia Limited has approved a Scheme of Arrangement for the amalgamation of G G Engineering Limited with itself, as per the Board Meeting held on July 5, 2024. The merger aims to consolidate strengths, enhance operational capabilities, and create value for shareholders through business synergies and cost savings. The share exchange ratio is set at 48 equity shares of Integra Essentia for every 100 equity shares of G G Engineering. Post-arrangement, the shareholding pattern will see promoters holding 12.01% and the public holding 87.99% of Integra Essentia's shares. The merger is subject to approvals from BSE, NSE, SEBI, NCLT, shareholders, creditors, and other regulators. https://www.bseindia.com/xml-data/corpfiling/AttachLive/c518cbd1-c5b7-4c7a-ae79-97a7ba7f6674.pdf |
G G Engineering Ltd has approved a Scheme of Arrangement for Amalgamation with Integra Essentia Limited on July 5, 2024. The merger, under sections 230-232 of the Companies Act, 2013, aims to consolidate strengths, create shareholder value, and enhance operational capabilities. |
Prime Focus Ltd. has announced the amalgamation of its subsidiaries, Prime Focus Academy of Media and Entertainment Studies Private Limited (PFAMESPL) and DNEG India Media Services Limited (DIMSL). The Hon’ble National Company Law Tribunal, Mumbai, sanctioned the scheme on July 4, 2024. |
2. New OrdersThermax Ltd. has announced that its wholly-owned subsidiary, Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), secured a significant order valued at Rs. 513 crore from Jindal Energy Botswana Pty Ltd. The contract involves the supply of 2X 550 TPH CFBC boilers for a 600 MW greenfield energy project in Botswana, to be delivered over 23 months. This project marks the first phase of a 300 MW power station aimed at meeting the growing power demands of the region. TBWES will handle the design, engineering, manufacturing, testing, supply, and supervision of erection and commissioning. https://www.bseindia.com/xml-data/corpfiling/AttachLive/2f1dad46-6ab8-4207-82c7-ef767b55d8df.pdf |
Zaggle Prepaid Ocean Services Ltd has entered into an agreement with Hero Motocorp Limited to provide the Zaggle Save platform. The platform focuses on employee expense management and benefits. The contract, effective from July 4, 2024, will continue until terminated as per mutually agreed terms. This domestic agreement does not involve any related party transactions or interests from the promoter group. The collaboration aims to enhance expense management and employee benefits for Hero Motocorp Limited's workforce. https://www.bseindia.com/xml-data/corpfiling/AttachLive/b686dfe9-253c-4184-9e87-467e26494540.pdf |
POWER GRID CORPORATION OF INDIA LTD. has scheduled a Board Meeting on 10th July, 2024 to consider and approve borrowing funds up to Rs 16,000 Crore for the financial year 2025-26 through various sources, including domestic bonds. Additionally, the company plans to enhance its current borrowing limits from Rs 12,000 Crore to Rs 15,000 Crore for the financial year 2024-25. This increase would be achieved through the issuance of secured/unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free bonds under private placement from domestic and other sources. These approvals are subject to shareholder consent in the upcoming Annual General Meeting. https://www.bseindia.com/xml-data/corpfiling/AttachLive/1313fa93-61f5-4767-bfc4-43cec6c8e4c8.pdf |
3. Business updateAngel One Ltd reported key business parameters for June 2024 and Q1 FY25, highlighting significant growth. The client base increased to 24.72 million, a 64.2% YoY growth. Gross client acquisition reached 0.94 million in June 2024, up 96.9% YoY. The average client funding book rose to Rs. 30.38 billion, a 172.1% YoY increase. The number of orders surged to 168.01 million, an 87.3% YoY growth, with average daily orders at 8.84 million, up 107.1% YoY. Unique MF SIPs registered saw a 259.9% YoY increase to 576.18 thousand. The overall ADTO based on notional turnover was Rs. 45,742 billion, a 90.2% YoY growth, with F&O at Rs. 45,112 billion, up 90.9% YoY. https://www.bseindia.com/xml-data/corpfiling/AttachLive/57b0eae5-f8d7-438f-a569-89492c739fa3.pdf |
Dhanlaxmi Bank Limited has released its business updates for the quarter ended June 30, 2024. The total business increased by 7.00% year-over-year, reaching Rs. 25,084 Crore. Total deposits grew by 7.75% to Rs. 14,440 Crore, while CASA saw a 6.18% rise. Gross advances were up by 6.02%, totaling Rs. 10,644 Crore, and gold loans surged by 28.64% to Rs. 3,153 Crore. These figures are provisional and subject to review by the bank's statutory auditors. https://www.bseindia.com/xml-data/corpfiling/AttachLive/81821a1d-de38-4734-9743-58db35d54043.pdf |
Utkarsh Small Finance Bank Ltd reported significant growth for the quarter ended June 30, 2024. The Gross Loan Portfolio increased by 30.6% year-over-year (YoY) to ₹**18,798 crore** and by 2.7% quarter-over-quarter (QoQ). Total Deposits rose by 30.0% YoY to ₹**18,163 crore** and by 3.9% QoQ. |
Withdrawal of Delisting Offer for Sinnar Bidi Udyog Limited |
Markobenz Ventures Limited (formerly known as Evergreen Textiles Limited) has scheduled a Board of Directors meeting on 12th July, 2024. The agenda includes: |
Macrotech Developers Ltd reported significant growth in Q1FY25 with pre-sales reaching INR 40.3 billion, marking a 20% YoY increase. Collections for the same period were INR 26.9 billion, showing a 12% YoY growth. The company added three new projects in MMR (Mumbai Metropolitan Region) and Pune, contributing INR 111 billion to the Gross Development Value (GDV), which is over 50% of their full-year guidance of INR 210 billion. Despite substantial investments, net debt remains controlled at INR 43.2 billion, well below the 0.5x Net Debt/Equity ceiling. This robust performance has led to a credit rating upgrade to ‘AA- (Positive)’ by Crisil. https://www.bseindia.com/xml-data/corpfiling/AttachLive/36994466-3d82-4195-a0d0-9bb834a26c08.pdf |
Advait Infratech Ltd has received a letter of intent for a significant order valued at Rs. 158.90 Crores (excluding GST) for a turnkey-based contract. The project involves comprehensive tasks such as site survey, designing, engineering, procurement, supply, loading, transportation, unloading, insurance, delivery at site, handling, storage, installation, testing, and commissioning of an 11kV Medium Voltage Covered Conductor (AL59 ACS) in Gujarat State. The order is scheduled to commence on 01st June 2024. This information is disclosed in compliance with the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. https://www.bseindia.com/xml-data/corpfiling/AttachLive/53ccc8e4-62e7-4c9f-b6a3-5b12065a93ce.pdf |
SUNCITY SYNTHETICS LTD. is undergoing a significant transaction. Mrs. Sumita Mishra, the Acquirer, has entered into a Share Purchase Agreement on April 16, 2024, to acquire 22,48,382 shares, representing 45.46% of the company's voting share capital, at ₹1700 per share, totaling ₹1,57,38,674. additionally, an open offer has been made to acquire up to 12,85,908 shares, representing 26% of the voting share capital, at ₹7 per share. The offer period is from July 16, 2024, to July 30, 2024. |
Vikalp Securities Ltd. is undergoing an open offer to acquire up to 7,93,500 equity shares, representing 26% of its total paid-up capital, at a price of ₹25 per share. The offer is made by Deepakbhai Patel, Kamuben Patel, and Priyam Shah. |
Ahmedabad Steelcraft Ltd. is undergoing a significant transaction. The Acquirers, Mr. Rohit Pandey and Mr. Sunil Dutt Pandey, are set to acquire 10,63,920 equity shares, representing 26% of the company's voting capital, at a price of ₹**54 per share**. This acquisition is a part of a mandatory open offer in compliance with Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. |
JSW Energy Ltd held its 30th Annual General Meeting (AGM) on July 5, 2024, via Video Conferencing (VC) and Other Audio Visual Means (OAVM). The meeting, attended by 81 members, commenced at 11:05 a.m. and concluded at 1:23 p.m. |
Capfin India Limited has announced an open offer for the acquisition of 15,75,585 equity shares at INR 14.26 per share, representing 55% of the total paid-up and voting equity share capital. This offer is made by Mr. Abhishek Narbaria and Mr. Umesh Kumar Sahay. The acquisition is being done under the SEBI (SAST) Regulations, 2011. The Reserve Bank of India has approved the change of management and shareholding, effective from July 03, 2024. The approval is valid for six months, and the company must comply with specific conditions and submit requisite documents within the stipulated timeframe. https://www.bseindia.com/xml-data/corpfiling/AttachLive/18103408-dac7-4b08-a2d6-79a2f2d7a1b8.pdf |
4. Preferential BasisElitecon International Ltd. has scheduled a Board Meeting on July 12, 2024, to discuss key business matters. The agenda includes fundraising through the issuance of Convertible Warrants on a preferential basis, pending member approval, and alterations to the Object Clause of the Memorandum of Association. This meeting is in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. (Manager, n.d.) https://www.bseindia.com/xml-data/corpfiling/AttachLive/242398b0-bb06-47c3-9d80-2dd84861948c.pdf |
Kabra Drugs Ltd. held a Board Meeting on July 5, 2024, where they approved the issuance of 56,90,500 equity shares at Rs. 10 each to non-promoters on a preferential basis, as per SEBI regulations. This issuance increased the company's paid-up equity share capital from Rs. 4,38,86,000 to Rs. 10,07,91,000. |
Murae Organisor Ltd (formerly known as Earum Pharmaceuticals Limited) held a Board Meeting on 5th July 2024, where they approved the receipt of the 3rd tranche of consideration for the allotment of Convertible Warrants. The total amount received was ₹13,52,00,000 from various non-promoter entities. Notable allottees include Balmukund Tradelink Private Limited, Banke Tradelink Private Limited, and Mithlesh Consultancy LLP, among others. This tranche follows previous receipts on 29th May 2024 and 29th June 2024, with the total consideration across all tranches amounting to ₹65,02,99,999. https://www.bseindia.com/xml-data/corpfiling/AttachLive/3048e113-8238-4099-8524-ccf55278de7d.pdf |
Family Care Hospitals Ltd has announced a Board of Directors meeting scheduled for July 12, 2024, to consider and evaluate a proposal for raising funds. The company plans to issue one or more instruments, including equity shares, convertible securities, and/or warrants, through rights or preferential issues or other permissible methods. This proposal is subject to necessary regulatory and statutory approvals. The notice has been uploaded on the company's website and the BSE website. Additionally, the trading window for designated persons will remain closed from July 5, 2024, until 48 hours after the conclusion of the board meeting. |
D.P. Abhushan Limited announced the outcome of its Board meeting held on July 5, 2024. The Board approved the allotment of 356,070 equity shares at ₹1,182 per share, aggregating to ₹42,08,74,740. This increases the company's paid-up equity share capital to ₹22,61,09,200, divided into 22,610,920 shares. Additionally, 217,000 Fully Convertible Equity Warrants were allotted at ₹1,182 per warrant, with a subscription amount of ₹297 per warrant, totaling ₹6,44,49,000. Each warrant is convertible into one fully paid-up equity share of ₹10 (Abhushan Limited et al., n.d.). https://www.bseindia.com/xml-data/corpfiling/AttachLive/c7043ea3-958d-4d90-bca3-c4598347c195.pdf |
VIP Clothing Ltd. Board Meeting Announcement: On July 5, 2024, VIP Clothing Ltd. announced a Board Meeting scheduled for July 12, 2024, to discuss raising capital through a Preferential Issue on Private Placement Basis. The meeting will consider the issuance of various instruments, including equity shares, convertible securities, warrants, or debt securities, subject to shareholder and regulatory approvals. This strategic move aims to enhance the company's financial position and support its growth initiatives. https://www.bseindia.com/xml-data/corpfiling/AttachLive/a1dfede3-e406-47f6-b0a8-60aaaba003dd.pdf |
Kalyan Jewellers India Ltd reported a robust performance in Q1 FY2025, with consolidated revenue growth of approximately 27% compared to the same period last year. The India operations saw a 29% revenue increase, driven by a 12% same-store-sales growth. The company launched 13 new FOCO showrooms in India and plans to open 40 more Kalyan showrooms, 30 Candere showrooms, and its first U.S. showroom by Diwali. In the Middle East, revenue grew by 16%, contributing around 15% to the consolidated revenue. Additionally, Candere, the digital-first platform, recorded a 13% revenue growth and is set to become a wholly owned subsidiary. https://www.bseindia.com/xml-data/corpfiling/AttachLive/3aa79345-2b43-4024-97fb-b4aff07233ef.pdf |
Emerald Finance Ltd reported a 115% increase in Q1 FY25 consolidated EBITDA, showcasing robust financial performance. The company's total income surged by 58.41% YoY to ₹**440 Cr**, while standalone income rose by 42.35% YoY to ₹**250 Cr**. EBITDA for the consolidated and standalone figures increased by 114.93% and 65.52% respectively. The PAT margin improved significantly, with consolidated PAT at ₹**1.71 Cr** and standalone PAT at ₹**1.10 Cr**. |
Tata Motors Ltd has reported a significant increase in sales for its wholly owned subsidiary, Jaguar Land Rover (UK) in Q1 FY25. Wholesales reached 97,755 units, marking a 5% rise compared to Q1 FY24, while retail sales surged by 9% to 111,180 units. The Range Rover, Range Rover Sport, and Defender models now constitute 68% of total wholesale volumes and 59% of retail sales. Notably, the waiting list for the new Range Rover Electric has grown to over 39,000 sign-ups. Retail sales saw a 43% increase in North America, 14% in the UK, and 4% in Europe. https://www.bseindia.com/xml-data/corpfiling/AttachLive/10dc00d9-a31e-4915-addb-9553de3480f2.pdf |
Tata Motors Ltd. reported a significant increase in sales for its wholly owned subsidiary, Jaguar Land Rover (UK) in Q1 FY25. Wholesales rose by 5% to 97,755 units, while retail sales surged by 9% to 111,180 units compared to Q1 FY24. The Range Rover, Range Rover Sport, and Defender models accounted for 68% of total wholesale volumes and 59% of retail sales. Notably, the waiting list for the new Range Rover Electric has exceeded 39,000 sign-ups.Despite a 43% increase in North American retail sales, overall volumes declined by 11% from the previous quarter due to cyclical fluctuations. (Kumar Gupta, n.d.) https://www.bseindia.com/xml-data/corpfiling/AttachLive/10dc00d9-a31e-4915-addb-9553de3480f2.pdf |
Tinna Trade Limited has announced the approval of a preferential issue of equity shares and fully convertible warrants, aggregating to approximately Rs. 49 crore. The issuance includes up to 10,72,460 equity shares at Rs. 300 per share, totaling Rs. 32.17 crore, and up to 564,350 fully convertible warrants at Rs. 300 per warrant, totaling Rs. 16.93 crore. The funds will be used for medium-to-long-term growth objectives, including vineyard tourism development, establishing an owned winery in Karnataka, brand investments, and other corporate purposes. This equity infusion aims to strengthen the company's balance sheet and support growth and margin expansion in the hospitality and core vineyard businesses. https://www.bseindia.com/xml-data/corpfiling/AttachLive/204e58aa-944a-4ec3-a0e2-68daffa1904b.pdf |
Bajaj Auto Ltd has launched the Bajaj Freedom, the world's first CNG motorcycle. Offering up to 50% lower operating costs compared to similar ICE motorcycles. The bike features dual-fuel capability with a 2-liter auxiliary petroleum tank, providing a combined range of 330 km. It includes advanced rider comfort features such as mono-linked type suspensions, a long quilted seat, LED headlamps, digital speedometers, and Bluetooth connectivity. The CNG tank is compactly integrated into a trellis chassis for maximum safety. Available in three variants starting from ₹95,000 (Ex-Showroom Delhi), the Bajaj Freedom comes in five colors: Ebony Black, Caribbean Blue, Cyber White, Racing Red, and Pewter Grey. https://www.bseindia.com/xml-data/corpfiling/AttachLive/1ae4980e-d4cb-41ce-95db-7dd39ffcafc0.pdf |
5. Press releaseThermax Ltd. has announced that its wholly-owned subsidiary, Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), secured a significant order valued at Rs. 513 crore (approximately USD 61.464 million) from Jindal Energy Botswana Pty Ltd. The contract involves the design, engineering, manufacturing, testing, supply, and supervision of erection and commissioning of 2X 550 TPH CFBC boilers for a 600 MW greenfield energy project in Botswana. This project is expected to be executed over 23 months. The project aims to support the first phase of a 300 MW power station, contributing to the national utility power company's efforts to meet Botswana's growing power demands. https://www.bseindia.com/xml-data/corpfiling/AttachLive/77421e47-b2c0-4259-9fc2-953b50c7bee6.pdf |
Federal Bank Ltd. has announced the launch of new Life Insurance products on July 5, 2024. This collaboration is a part of a strategic Bancassurance partnership with Bajaj Allianz Life Insurance Co Ltd. This expansion brings the total number of insurance partners for Federal Bank to 10. The new products are targeted at the domestic market. This strategic alliance aims to provide Federal Bank's customers with access to Bajaj Allianz Life Insurance's comprehensive product suite. https://www.bseindia.com/xml-data/corpfiling/AttachLive/24854974-acdc-48e6-9ff6-046db1328aeb.pdf |
KPI Green Energy Ltd has signed a Power Purchase Agreement (PPA) for a 50MW Solar-Wind Hybrid Power Project with Gujarat Urja Vikas Nigam Limited (GUVNL). This project includes 50 MW Solar and 16.80 MW Wind energy. It was awarded through a competitive bidding process (RFS No. GUVNL / 500 MW / Hybrid RE [Phase I]) and secured via a reverse e-auction on January 22, 2024. This milestone supports KPI Green Energy's goal of achieving 1000 MWp capacity by 2025 and contributes to delivering sustainable renewable energy to the nation. https://www.bseindia.com/xml-data/corpfiling/AttachLive/dd5293d3-ea03-4045-a9b8-b6d0875fa41b.pdf |
6. Quarterly updatesMARICO LTD. reported a positive start to FY 2024-25. The domestic business showed a modest uptick in volume growth. Parachute Coconut Oil saw low single-digit growth, while Saffola Oils achieved mid-single digit growth. The international business posted double-digit constant currency growth, contributing to high single-digit consolidated revenue growth despite pricing cuts and currency headwinds. The company anticipates improved revenue growth and gross margin expansion due to favorable pricing cycles and strategic investments in brand building. Additionally, Marico's collaboration with Kaya Limited aims to enhance its premium personal care segment, further driving portfolio diversification and sustainable, profitable growth. https://www.bseindia.com/xml-data/corpfiling/AttachLive/13687bc1-20d4-4592-acde-6d493c8ef23b.pdf |
Adani Wilmar Ltd reported robust performance in Q1 FY 2024-25, achieving a 13% YoY volume growth. The company's edible oils segment thrived despite industry challenges, with a notable 36% YoY increase in branded exports. The Food & FMCG segment saw a 46% YoY volume growth, supported by strategic bundling and trade schemes. Additionally, the wheat business maintained growth despite industry slowdowns, and the rice business expanded its market presence through successful promotional events. Overall, Adani Wilmar's diversified product portfolio and strategic initiatives have positioned it for continued growth. https://www.bseindia.com/xml-data/corpfiling/AttachLive/693dd9bc-6519-4638-8141-3e2a6d2b0edf.pdf |
Dabur India Ltd. reported a sequential improvement in demand trends for Q1 FY25. The company expects consolidated revenue to grow in the mid to high single digits, while the India business is projected to see mid-single digit volume growth. The HPC & Healthcare segment is anticipated to grow in high-single digits. |
Titan Company Limited reported a 9% Year-over-Year (YoY) growth in Q1 FY25, adding 61 new stores to reach a total of 3,096 stores. |
Titan Company Limited reported a 9% YoY growth in Q1 FY25, adding 61 new stores to reach a total of 3,096 stores. |
7. New AcquisitionsEFC (I) Limited has announced that its unlisted subsidiary, Ek Design Industries Limited, has acquired a 100% stake in Degwekar Industries Private Limited. The acquisition, valued at Rs. 1,00,000 for 10,000 equity shares at Rs. 10 each, is a related party transaction due to common directorship. |
Abans Holdings Ltd has announced that its subsidiary, Abans Investment Management Private Limited (AIMPL), plans to raise up to Rs. 9.975 Crores through a Series A funding round via private placement to identified investors. This move will result in a change in AHL's stake in AIMPL from 98% to 91.59%, a dilution of approximately 6.41%. |
Genesys International Corporation Ltd. has approved a further investment of 50,00,000 Saudi Arabian Riyal (approx. ₹11.13 crores) in its wholly owned subsidiary, Genesys Middle East Company Limited (GME). |
8. Credit RatingReliance Industries Limited has received a reaffirmation of its credit ratings from CARE Ratings Limited as of July 5, 2024. The ratings include a '**CARE AAA; Stable**' for its Non-convertible Debentures and '**CARE A1+**' for its Commercial Paper. This reaffirmation underscores the company's strong creditworthiness and stable outlook. The announcement was made to inform stakeholders and maintain transparency in financial reporting. https://www.bseindia.com/xml-data/corpfiling/AttachLive/28e75f30-c8e8-4464-8440-e4b4c2b7a490.pdf |
Plastiblends India Ltd. has received a reaffirmation of its credit ratings from CRISIL Ratings Limited as of June 25, 2024. The ratings include a Long Term Rating of CRISIL A+/Stable and a Short Term Rating of CRISIL A1. These ratings were communicated to the company on July 05, 2024. The total bank loan facilities rated amount to Rs. 96 Crore. The ratings reflect CRISIL's current opinion on the likelihood of timely payment of obligations under the rated instruments and are based on reliable information provided by the issuer. https://www.bseindia.com/xml-data/corpfiling/AttachLive/6e69e59e-7ba0-46cc-9d0a-5ca367f1a46d.pdf |
Music Broadcast Limited has announced an important update under Regulation 30 and Regulation 55 read with Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has received a credit rating letter from CRISIL, which has been attached for record purposes. This update was communicated by Arpita Kapoor, the Company Secretary and Compliance Officer of Music Broadcast Limited, in July 2024. https://www.bseindia.com/xml-data/corpfiling/AttachLive/5ae9a409-6958-40dd-9b19-5afddd28c156.pdf |
Jagran Prakashan Ltd. has received a reaffirmation of its credit ratings from CRISIL Limited. The ratings include: |
Triveni Turbine Ltd. has announced that ICRA Limited has retained and assigned credit ratings for its bank facilities. This announcement complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. |
JK Tyre & Industries Ltd. has announced an upgrade in the credit ratings for its subsidiary, Cavendish Industries Ltd. (CIL), by India Ratings and Research Pvt. Ltd. (Ind-Ra). The long-term rating for CIL’s bank facilities has been upgraded to IND A+ from IND A**, reflecting a sustained and considerable improvement in CIL’s credit metrics due to enhanced profitability and continuous deleveraging of the balance sheet during FY24. The company received confirmation of these ratings on 4th July 2024 at 6:26 PM. |
Texmaco Rail & Engineering Limited has received updated ratings from CARE Ratings Limited for its bank facilities. The long-term bank facilities have been revised to CARE A- (RWP) from CARE BBB+ (RWP), while the short-term bank facilities have been upgraded to CARE A2+ (RWP) from CARE A2 (RWP). Additionally, the long-term/short-term bank facilities have been adjusted to CARE A- / CARE A2+ (RWP) from CARE BBB+ / CARE A2 (RWP). These ratings continue to be on Rating Watch with Positive Implications (**RWP**). |
Mahanagar Telephone Nigam Ltd. (MTNL), a state-owned telecom service provider, has faced ongoing delays in debt servicing due to insufficient cash flow generation and slow progress in asset monetization. Despite a significant revival plan approved by the Government of India (GoI) in July 2022, which includes raising long-term bonds worth INR 176 billion backed by a sovereign guarantee, MTNL's financial position remains weak. |
Kitex Garments Limited has announced a revision in its credit ratings as per ICRA Limited's letter dated July 05, 2024. The company's short-term fund-based and non-fund-based working capital facilities have been downgraded from [ICRA]A1 to [ICRA]A2+. Additionally, the long-term/short-term unallocated rating has been downgraded from [ICRA]A+ (Negative) / [ICRA]A1 to [ICRA]A (Negative) / [ICRA]A2+. The short-term non-fund-based credit exposure limits have also been downgraded from [ICRA]A1 to [ICRA]A2+. https://www.bseindia.com/xml-data/corpfiling/AttachLive/3f3c6e0c-759a-4c12-8a22-2a9a2177ffcb.pdf |
(India) Ltd has received a reaffirmation of its credit ratings from CRISIL Ratings Limited. The long-term rating for the company has been reaffirmed at A/positive, with the outlook revised from 'Stable'. The short-term rating remains at A1. The total bank loan facilities rated for the company have been enhanced from Rs. 550 Crore to Rs. 750 Crore. This reaffirmation was communicated to the company on July 02, 2024, and was received on July 04, 2024. The ratings are under continuous surveillance and review, and the letter remains valid until March 31, 2025. https://www.bseindia.com/xml-data/corpfiling/AttachLive/25c4893c-b9a3-41eb-acba-90d9198868e9.pdf |
PVR Inox Ltd has received a credit rating from CRISIL Ratings Limited for its Commercial Paper, as per the compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The rating was communicated to the National Stock Exchange of India Limited and BSE Limited on 5th July 2024. The notification was signed by Mukesh Kumar, SVP - Company Secretary & Compliance Officer of PVR Inox Ltd (Mumbai -400 051 Fort, Mumbai -400 001 Mumbai -400 051 Fort Mumbai -400 001, n.d.). https://www.bseindia.com/xml-data/corpfiling/AttachLive/01d78603-aac2-450b-9b53-54dd36c0f8c1.pdf |
Garware Hi-Tech Films Ltd has received an upgraded credit rating from CARE Ratings Limited, reflecting an improved business and financial risk profile. The company's long-term bank facilities have been revised to CARE AA-; Stable from CARE A+; Stable, and short-term bank facilities have been reaffirmed at CARE A1+. |
BMW Industries Ltd has received an upgrade in its credit rating to "IND A/Stable" from India Ratings & Research. The company's consolidated revenue increased to INR 5,982 million in FY24, with an EBITDA margin of 24.5%. The term loan size was reduced to INR 490.3 million, maturing in March 2027. |
Panama Petrochem Ltd. reported a revenue of ₹2,356.74 crore in FY24, reflecting a growth of ~5% over the previous year BSE Limited at BSE Limited's Pjiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001. Despite a decline in operating margins to 10.80% in FY24 from 13.74% in FY23 due to lower sales realization, the margins are expected to improve to 11-12%. Panama Petrochem's strong financial risk profile is highlighted by a TOL/TNW ratio of 0.43x and an interest coverage ratio of 14.20x as of March 31, 2024, BSE Limited's Pjiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001. The company maintains a healthy liquidity position with a cash balance of ₹133.17 crore and a working capital cycle of 87 days, BSE Limited's Pjiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001. |
Tata Motors Ltd has announced a revision in its credit ratings as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Effective from July 4, 2024, ICRA Ratings has upgraded the company's long-term credit ratings for Non-Convertible Debentures, Fund Based Facilities, Term Loan, and Non-Fund Based Facilities from AA / Stable to AA+ / Stable. The short-term debt, commercial paper, and non-fund based facilities ratings have been reaffirmed at A1+. This update is intended for the information of the Exchange and its Members. https://www.bseindia.com/xml-data/corpfiling/AttachLive/95a5ceb0-fad5-4950-abc5-cde3cc88503f.pdf |
Tata Motors Limited has announced a revision in its credit ratings as per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The credit rating agency ICRA Ratings has upgraded the company's long-term ratings for Non-Convertible Debentures, Fund Based Facilities, Term Loan, and Non-Fund Based Facilities from AA / Stable to AA+ / Stable. The short-term ratings for Debt, Commercial Paper, and Non-Fund Based Facilities have been reaffirmed at A1+. This update was issued in a press release dated July 4, 2024, and is intended for the information of the Exchange and its Members. https://www.bseindia.com/xml-data/corpfiling/AttachLive/95a5ceb0-fad5-4950-abc5-cde3cc88503f.pdf |
Race Eco Chain Limited has announced the completion of the sale of shares of its material subsidiary, M/s. Abhay Innovative Recycling Limited. The approval for this sale was obtained from shareholders during the Annual General Meeting on July 3, 2024, with voting results declared on July 4, 2024. This transaction was conducted in compliance with Regulation 30 and other applicable provisions of the SEBI (Listing Obligations & Disclosures Requirements) Regulations, 2015. Following this sale, M/s. Abhay Innovative Recycling Limited is no longer considered a material subsidiary of Race Eco Chain Limited. https://www.bseindia.com/xml-data/corpfiling/AttachLive/fa21f24c-3fdf-45bf-a90c-a5d2adea1d43.pdf |
Coforge Ltd disclosed an update on its acquisition of Cigniti Technologies Limited under Regulation 30 of the SEBI Listing Regulations. On July 5, 2024, Coforge acquired 4,618,199 equity shares representing 16.92% of Cigniti's current paid-up share capital and 16.76% of its expanded capital. This acquisition was made through an on-market transfer pursuant to a Share Purchase Agreement. Post-transaction, Coforge holds 7,639,492 equity shares, aggregating to 27.98% of Cigniti's current paid-up share capital and 27.73% of its expanded capital. The acquisition, valued at INR 1,398.50 per share, aims to enhance revenue distribution across industry verticals and geographies, leveraging complementary industry verticals and geographical spread of operations. https://www.bseindia.com/xml-data/corpfiling/AttachLive/a26cbeb3-bdc7-4d32-9832-6088a6ef84da.pdf |
Jubilant FoodWorks Ltd has successfully completed the acquisition of a 6.31% stake in O2 Renewable Energy XVI Private Limited. This acquisition involved the purchase of 24,099 Compulsory Convertible Debentures (CCDs) with a face value of Rs. 1,000 each and 2,67,769 equity shares with a face value of Rs. 10 each. The milestone for this acquisition was achieved on July 5, 2024, at 04:43 PM (IST). Further details were previously disclosed in the company's intimation dated January 2, 2024. For more information, visit the company's investor relations page. https://www.bseindia.com/xml-data/corpfiling/AttachLive/3be81966-f280-49b5-a41d-a6c5a50bd60f.pdf |
Coforge Ltd has disclosed under Regulation 30 of the SEBI Listing Regulations an update on its acquisition of Cigniti Technologies Limited. On July 4, 2024, Coforge acquired 3,021,293 equity shares, representing 11.07% of the current paid-up share capital and 10.97% of the expanded capital. The acquisition, made on the stock exchange floor, was pursuant to a Share Purchase Agreement with select public shareholders. The transaction, valued between INR 1,392.90 to INR 1,415.00 per share, was completed in cash. This strategic move aims to enhance Coforge's revenue distribution across various industry verticals and geographies, leveraging Cigniti's expertise in Quality and Digital engineering services. https://www.bseindia.com/xml-data/corpfiling/AttachLive/00b774ca-85e6-4ea3-b4ac-41bc6e506fa1.pdf |
Rajkamal Synthetics Ltd. announced the resignation of Mr. Yogesh Chandak (DIN-09719724) from his roles as Executive Director and Chief Financial Officer, effective from the close of business hours on July 5, 2024. The resignation was due to personal reasons, with no other material reasons cited. The Board of Directors has accepted his resignation and expressed appreciation for his contributions during his tenure. The company has complied with the disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular dated July 11, 2023. https://www.bseindia.com/xml-data/corpfiling/AttachLive/6148c960-9241-46bc-9ff2-4ca241f01deb.pdf |
Garware Hi-Tech Films Ltd has announced the resignation of Mr. Pradeep Mehta from his position as Chief Financial Officer (CFO) effective July 05, 2024. This disclosure, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, indicates that Mr. Mehta resigned to pursue further career growth opportunities. The company has provided the requisite details in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13th July 2023. https://www.bseindia.com/xml-data/corpfiling/AttachLive/07079883-3417-495f-a957-4186e2ea9711.pdf |
Datamatics Global Services Ltd. has announced the resignation of Mr. Sandeep Mantri, the Chief Financial Officer and Key Managerial Personnel, effective from the close of business hours on August 09, 2024. The company has expressed its deep appreciation for Mr. Mantri's contributions and services. The resignation letter and the details required under Regulation 30 of SEBI LODR Regulations, along with SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed in the official communication. |
AYM Syntex Ltd announces significant changes in its Key Managerial Personnel (KMP); Mr. Himanshu Dhaddha, Chief Financial Officer (CFO) and KMP, resigns, effective July 8, 2024. He will be succeeded by Mr. Suyog Chitlange starting July 9, 2024. Mr. Chitlange is a qualified Chartered Accountant and Company Secretary with over 21 years of industry experience. Previously, he served as CFO & Company Secretary at TPAC Packaging India Private Limited. Additionally, Mr. Ashitosh Sheth, Company Secretary & Compliance Officer, resigns, effective July 6, 2024. These changes are based on recommendations from the Nomination and Remuneration Committee and Audit Committee. https://www.bseindia.com/xml-data/corpfiling/AttachLive/40fd1ebf-39f1-4686-a95b-9df2d3a9552c.pdf |
Diggi Multitrade Ltd has announced a significant change in its board composition. Mr. Anilkumar Patni (DIN: 06597013) has resigned from his position as the Managing cum Executive Director, effective from the close of business hours on July 4, 2024, due to personal reasons. The resignation was formally communicated to BSE Limited on July 5, 2024. Mr. Patni has confirmed that there are no other material reasons for his resignation beyond those stated. The company has complied with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and provided all necessary disclosures. https://www.bseindia.com/xml-data/corpfiling/AttachLive/3df422df-4f3e-4748-bb90-7571cfe131da.pdf |
G.D. Trading & Agencies Ltd. held a Board Meeting on July 5, 2024. They approved the resignation of their Statutory Auditor, CA Adityanarayan Somani, effective from July 1, 2024, due to other urgent assignments. The meeting, which started at 5:00 PM and concluded at 6:45 PM, also discussed but did not finalize matters related to the appointment of Key Managerial Personnel (KMP) and the composition of the board, deferring these decisions to a future meeting. https://www.bseindia.com/xml-data/corpfiling/AttachLive/96cdca83-ae39-4086-b62c-0cec1ab061df.pdf |
9. Rights issueLesha Industries Ltd. has announced the approval of a Rights Issue by its Board of Directors on July 5, 2024. The Rights Equity Shares will be offered at an issue price of Rs. 2.80 per share, including a premium of Rs. 1.80. The total issue size is capped at Rs. 49.28 Crore. Shareholders will be entitled to 1.60 Rights Equity Shares for every 1 existing fully paid-up equity share held as of the record date, July 12, 2024. The Rights Issue period spans from July 22, 2024, to August 5, 2024. https://www.bseindia.com/xml-data/corpfiling/AttachLive/0291ddc3-8a84-43f2-9f29-bb9836b26288.pdf |
GMR Power & Urban Infra Limited has announced a significant transaction involving its wholly-owned subsidiary, GMR SEZ & Port Holdings Limited (GSPHL). On July 5, 2024, GSPHL executed a Share Purchase Agreement (SPA) with GMR Enterprises Private Limited (GEPL) for the sale of its entire stake in Namitha Real Estates Private Limited (NREPL). |
Happiest Minds Technologies Ltd held its 13th Annual General Meeting on June 28, 2024. Key highlights included the company's industry-leading growth of 11% in constant currency and an EBITDA margin of 24.6% for FY'24. |
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