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RailTel Declares 10% Interim Dividend (Re 1/Share); Sets Record Date for March 13, 2026
RailTel Corporation has announced its second interim dividend for FY 2025-26 at 10% of the paid-up capital, which translates to Re 1 per equity share. The company has fixed March 13, 2026, as the record date to determine eligibility, with the dividend payment scheduled for March 24, 2026. Shareholders are required to submit tax-related documents by March 16, 2026, to ensure appropriate Tax Deducted at Source (TDS) rates are applied. The company emphasized that all payments will be made electronically, and no physical dividend warrants will be issued.
Key Highlights
Second interim dividend declared at Re 1 per equity share (10% of paid-up capital).
Record date for dividend eligibility is March 13, 2026, with payment by March 24, 2026.
Standard TDS of 10% for resident shareholders with valid PAN; 20% for those without.
No TDS for resident individuals if the total dividend for the financial year does not exceed Rs. 10,000.
Deadline for submitting tax exemption documents (Form 15G/15H) is March 16, 2026.
💼 Action for Investors
Investors should ensure their bank account and PAN details are updated in their demat accounts to receive the dividend electronically. Eligible shareholders should submit tax exemption forms by the March 16 deadline to avoid higher tax withholding.
Subex Reports Turnaround with 7.2% EBITDA Margin and 9% PAT in YTD Dec 2025 Update
Subex Limited has announced a significant operational turnaround, shifting from an EBITDA margin of -11% to +7.2% and a PAT margin of 9% for YTD December 2025. The company reported a 25% increase in cash reserves and a 30% improvement in employee productivity through AI-driven process optimization. With 70% recurring revenue and a 95% customer retention rate across 150+ installations, Subex is pivoting towards an AI-native product suite targeting a $4.3 billion addressable market. The launch of Fraudzap, developed in months rather than years using GenAI, serves as a proof of concept for their new high-velocity R&D model.
Key Highlights
Turned around EBITDA from -11% to +7.2% and PAT from -18.4% to +9% in YTD Dec 2025
Reported ₹206 Crores in revenue for YTD Dec 2025 with a 25% increase in cash and cash equivalents
Maintains a strong recurring revenue base of ~70% with a high customer retention rate of 95%
Identified a $4.3 billion Total Addressable Market (TAM) driven by new-age fraud vectors and AI-agentic operations
Achieved a 30% unlock in employee productivity and significantly reduced product development cycles using GenAI
💼 Action for Investors
Investors should monitor the sustainability of the margin expansion and the adoption rate of new AI-native products like Fraudzap. The stock presents a potential re-rating opportunity if the company maintains its turnaround trajectory and successfully captures the expanding AI-driven telecom security market.
RailTel Secures ₹115.20 Crore Service Order from Power Grid Corporation
RailTel Corporation of India has received a Letter of Intent (LoI) from Power Grid Corporation of India Limited for a domestic service contract. The total estimated value of the order is ₹115.20 crore, including taxes. This is a long-term engagement with an execution timeline extending until September 10, 2034. The contract strengthens RailTel's order book and provides long-term revenue visibility from a major PSU client.
Key Highlights
Order awarded by Power Grid Corporation of India Limited for domestic services.
Total contract value is estimated at ₹115,20,49,000 (approx. ₹115.20 crore).
Long-term execution period spanning over 8 years, ending on September 10, 2034.
The order was officially received on March 10, 2026.
💼 Action for Investors
Investors should view this as a positive development that enhances RailTel's long-term revenue stability. The stock remains a key play in the PSU telecom and infrastructure space with a growing order book.
Kellton Partners with FutureAge AI Labs to Launch Zourney AI-First B2B Travel Platform
Kellton Tech has announced a strategic partnership with FutureAge AI Labs to develop Zourney, an AI-native B2B travel platform. The platform is designed to solve fragmentation in the travel trade by embedding intelligence across the booking value chain, from pricing to post-sales. A key value proposition is the reduction of the booking workflow from the industry average of 1-2 days down to less than five minutes. This initiative targets the growing digital needs of India's B2B travel operators and distribution partners.
Key Highlights
Compresses booking workflow duration from 1-2 days to less than 5 minutes
Reduces the need for an average of 3-5 customer callbacks per booking through automated workflows
Provides a unified operating layer with one platform and one API for travel agents
Leverages Kellton's global delivery capabilities and team of over 2,000 professionals
💼 Action for Investors
Investors should monitor the adoption rate of the Zourney platform as it represents a move into high-margin, AI-driven specialized software. Success in this niche could significantly boost Kellton's digital transformation revenue segment.
Delta Corp to Hold EGM on April 9 for Shipbuilding Contract and Corporate Guarantee Approval
Delta Corp has scheduled an Extra-ordinary General Meeting (EGM) for April 9, 2026, to seek shareholder approval for two key financial matters. The board is proposing modifications to a shipbuilding contract between its wholly-owned subsidiary DPCCPL and associate company WSPL. Additionally, approval is sought for a corporate guarantee to be provided by subsidiary DPCCL for a loan proposed to be taken by WSPL. These moves indicate continued financial support and capital commitment toward its associate entities.
Key Highlights
Extra-ordinary General Meeting (EGM) scheduled for April 9, 2026, via Video Conferencing.
Modification of shipbuilding contract between subsidiary DPCCPL and associate company WSPL.
Proposed corporate guarantee by subsidiary DPCCL for a loan to be availed by associate WSPL.
Board meeting concluded at 6:15 P.M. on March 10, 2026, following a 45-minute session.
💼 Action for Investors
Investors should review the detailed EGM notice when released to understand the financial scale of the loan guarantee and contract modifications. Monitor the impact of these contingent liabilities on the company's consolidated balance sheet.
Paushak Ltd Appoints Jain Parkash as Whole-time Director; COO Chintan Gosaliya Resigns
Paushak Limited has announced a leadership transition effective from the end of the 2025-26 fiscal year. Mr. Chintan Gosaliya will resign as Whole-time Director and COO on March 31, 2026, to pursue outside opportunities. To ensure continuity, the board has appointed Mr. Jain Parkash, the current Sr. VP of Operational Excellence, as a Whole-time Director for a three-year term starting April 1, 2026. Mr. Parkash brings over 30 years of specialized experience in specialty chemicals and pharma APIs to the role.
Key Highlights
Mr. Chintan Gosaliya to step down as Whole-time Director and COO on March 31, 2026.
Mr. Jain Parkash appointed as Whole-time Director for a 3-year term effective April 1, 2026.
New appointee Mr. Parkash has 30+ years of experience in Specialty Chemicals and Agro-Chemicals.
The appointment is an internal promotion and remains subject to shareholder approval via Special Resolution.
💼 Action for Investors
Investors should monitor the transition for any shifts in operational strategy, though the internal promotion of an experienced executive suggests a focus on continuity.
Paushak Ltd Appoints Jain Parkash as Whole-time Director; Chintan Gosaliya Resigns as COO
Paushak Limited has announced a leadership transition where Mr. Chintan Gosaliya will resign as Whole-time Director and COO effective March 31, 2026. To fill the vacancy, the Board has approved the appointment of Mr. Jain Parkash as an Additional and Whole-time Director for a three-year term starting April 1, 2026. Mr. Parkash is currently the Sr. Vice President of Operational Excellence and brings over 30 years of experience in Specialty Chemicals and Pharma API. This internal promotion suggests a focus on operational continuity and leveraging deep industry expertise.
Key Highlights
Mr. Chintan Gosaliya to step down as WTD and COO on March 31, 2026, to pursue outside opportunities.
Mr. Jain Parkash appointed as Whole-time Director for a 3-year term effective April 1, 2026.
Incoming director Mr. Jain Parkash has over 30 years of experience in Specialty Chemicals, Agro-Chemicals, and Pharma API.
The appointment is subject to shareholder approval through a Special Resolution.
Mr. Parkash also serves as a Non-Executive Director on the Board of Alembic Limited.
💼 Action for Investors
Investors should monitor the transition for any impact on operational efficiency, though the internal promotion of an experienced industry veteran is generally a stabilizing signal. No immediate action is required as the transition is scheduled for 2026.
Paushak Ltd Appoints Jain Parkash as Whole-time Director; Chintan Gosaliya Resigns as COO
Paushak Limited has announced a leadership transition where Mr. Chintan Gosaliya will resign as Whole-time Director and COO effective March 31, 2026. To ensure continuity, the board has appointed Mr. Jain Parkash, currently the Sr. VP of Operational Excellence, as a Whole-time Director for a three-year term starting April 1, 2026. Mr. Parkash brings over 30 years of extensive experience in Specialty Chemicals and Pharma APIs, which are critical sectors for the company. This internal promotion indicates a focus on maintaining operational stability and leveraging internal expertise for future growth.
Key Highlights
Mr. Chintan Gosaliya to resign as Whole-time Director and COO effective March 31, 2026.
Mr. Jain Parkash appointed as Whole-time Director for a 3-year term starting April 1, 2026.
New appointee Mr. Parkash has over 30 years of experience in Specialty Chemicals, Agro-Chemicals, and Pharma APIs.
The appointment is subject to shareholder approval through a Special Resolution.
Mr. Parkash also serves as a Non-Executive Director on the Board of Alembic Limited.
💼 Action for Investors
Investors should view this as a routine leadership transition; the internal promotion of an industry veteran suggests stability in operational management. No immediate action is required, but shareholders should look for the upcoming Special Resolution to formalize the appointment.
Royal Orchid Hotels Credit Rating Outlook Upgraded to Positive for Rs 46 Cr Debt
ICRA Limited has reaffirmed the long-term credit rating of Royal Orchid Hotels Limited at [ICRA]A- while upgrading the outlook from 'Stable' to 'Positive'. This revision applies to total bank facilities worth Rs. 46.00 crore, which includes term loans of Rs. 26.14 crore and unallocated facilities of Rs. 19.86 crore. The shift to a positive outlook indicates the rating agency's expectation of continued improvement in the company's financial profile and debt-servicing capabilities. Such upgrades often lead to better borrowing terms and reflect growing operational stability.
Key Highlights
ICRA reaffirmed the long-term rating at [ICRA]A- for total bank facilities of Rs. 46.00 crore.
The rating outlook has been revised upward from 'Stable' to 'Positive'.
The rated debt includes HDFC Bank term loans amounting to Rs. 26.14 crore.
Unallocated facilities of Rs. 19.86 crore were also covered under the revised outlook.
💼 Action for Investors
Investors should view the outlook upgrade as a sign of strengthening financial health and reduced credit risk. This could potentially lead to lower interest costs and improved profitability in the long run.
Orient Press Credit Ratings Reaffirmed at CARE BB; Stable; Upgrade Request Denied
CARE Ratings has reaffirmed Orient Press Limited's long-term bank facilities at 'CARE BB; Stable' and short-term facilities at 'CARE A4'. Following the initial review, the company's management formally requested a rating upgrade, which was subsequently denied by the agency in a regret letter dated March 9, 2026. The total rated bank facilities have been reduced to ₹48.95 crore from previous levels. The ratings reflect the agency's assessment of the company's financial performance for FY25 and the first nine months of FY26.
Key Highlights
Long-term bank facilities of ₹25.45 crore reaffirmed at 'CARE BB; Stable'.
Short-term bank facilities of ₹13.50 crore reaffirmed at 'CARE A4'.
Total rated bank facilities reduced to ₹48.95 crore from previous levels.
CARE Ratings rejected the management's formal appeal for a rating upgrade after reconsideration.
Ratings are based on audited FY25 and unaudited 9MFY26 financial results.
💼 Action for Investors
The 'BB' rating indicates a non-investment grade with moderate credit risk; investors should monitor the company's ability to improve margins and reduce debt to potentially achieve an investment-grade rating in the future.
Orient Press Credit Ratings Reaffirmed at CARE BB; Stable; Upgrade Request Denied
CARE Ratings has reaffirmed the credit ratings for Orient Press Limited's bank facilities, maintaining 'CARE BB; Stable' for long-term and 'CARE A4' for short-term debt. The total rated amount has been reduced to ₹48.95 crore from previous levels. Significantly, the rating agency issued a regret letter on March 9, 2026, declining the company's request for a rating upgrade after a formal reconsideration. The review was based on the company's performance through FY25 and the first nine months of FY26.
Key Highlights
Long-term rating reaffirmed at CARE BB; Stable for facilities worth ₹25.45 crore.
Short-term rating reaffirmed at CARE A4 for facilities worth ₹13.50 crore.
Total rated bank facilities reduced to ₹48.95 crore from previous limits.
CARE Ratings formally rejected management's request for a rating upgrade in a letter dated March 9, 2026.
Ratings are based on audited FY25 and unaudited 9MFY26 financial performance.
💼 Action for Investors
The rejection of an upgrade request indicates that the company's financial improvements are not yet sufficient to move out of the 'BB' (moderate risk) category. Investors should monitor future earnings for signs of deleveraging or improved liquidity that could eventually trigger a positive rating action.
CRISIL Reaffirms 'AAA/Stable' Rating for Gujarat Gas on Strong Financial Profile
CRISIL has reaffirmed its highest 'CRISIL AAA/Stable' rating for Gujarat Gas Limited's Rs 3,350 crore bank facilities, highlighting its position as India's largest CGD player. The company remains debt-free with a robust cash balance exceeding Rs 1,500 crore as of March 2025. While 9M FY26 volumes dipped to 8.63 mmscmd from 9.73 mmscmd due to propane competition in the Morbi cluster, EBITDA per scm improved to Rs 5.95. The ongoing merger with GSPC and GSPL is nearing completion, which is expected to provide significant operational synergies.
Key Highlights
CRISIL reaffirmed 'AAA/Stable' rating for Rs 3,350 crore long-term bank facilities.
Company and GSPC both remain debt-free as of December 31, 2025.
9M FY26 gas sales volumes decreased to 8.63 mmscmd from 9.73 mmscmd in the prior year period.
EBITDA per scm increased to Rs 5.95 in 9M FY26 compared to Rs 5.4 in FY25.
Cash and bank balances stood at over Rs 1,500 crore as of March 31, 2025.
💼 Action for Investors
The 'AAA' rating confirms the company's superior creditworthiness and financial stability. Investors should monitor the volume recovery in industrial clusters and the final execution of the GSPC/GSPL merger for long-term value unlocking.
BMW Ventures Bags ₹15.91 Crore Order for Fabricated Steel Structures
BMW Ventures Limited has secured a domestic contract worth ₹15.91 crore for its Fabricated Steel Manufacturing Division. The project involves the supply, fabrication, delivery, and erection of steel structures and is expected to be completed within a 9-month timeframe. The contract features favorable payment terms, including a 50% advance on fabrication costs, which supports working capital. This order provides clear revenue visibility for the company over the next three quarters.
Key Highlights
Total order value of ₹15.91 crore including taxes for fabricated steel structures.
Execution timeline set for 9 months from the date of the Purchase Order.
Favorable payment terms with 50% advance on fabrication and 40% before dispatch.
The contract is awarded by a domestic entity for the company's manufacturing division.
💼 Action for Investors
Investors should view this as a positive development for the company's order book and cash flow due to the high advance payment. Monitor the company's upcoming quarterly results for progress on execution and margin impact.
Borosil to Invest Rs 92 Crore in New Bharuch Plant and Jaipur Capacity Expansion
Borosil Limited has approved a total capital expenditure of Rs 92 crores for two major expansion projects funded through internal accruals. The company will establish a new manufacturing facility in Bharuch, Gujarat, with an investment of Rs 42 crores, expected to start production by December 2026. Additionally, the Jaipur plant's borosilicate glass furnace capacity will be increased from 25 TPD to 32 TPD with a Rs 50 crore investment by January 2028. These moves aim to address high market demand and improve operational efficiency by removing production bottlenecks.
Key Highlights
New manufacturing facility at Bharuch, Gujarat, with an estimated investment of Rs 42 crores.
Expansion of Jaipur plant capacity from 25 TPD to 32 TPD, representing a 28% increase.
Total capital expenditure of Rs 92 crores to be entirely funded via internal accruals.
Bharuch plant commercial production targeted for December 2026; Jaipur expansion for January 2028.
Jaipur expansion includes a 3rd forming line to improve furnace utilization and lower production costs.
💼 Action for Investors
This is a positive development indicating strong demand and a debt-free growth strategy. Investors should monitor the timely execution of the Bharuch facility as it will be the first to contribute to the top line in late 2026.
Alembic Pharmaceuticals Incorporates New Subsidiary in Thailand for Market Expansion
Alembic Pharmaceuticals Limited has successfully incorporated a new subsidiary, Alembic Pharmaceuticals (Thailand) Co., Ltd., in Thailand. The company holds a 99.99% stake in the new entity, which has an initial share capital of 3,000,000 Baht. This strategic move is designed to explore new business opportunities and facilitate the promotion, sale, and distribution of pharmaceutical products within the Thai geography. While the subsidiary has yet to commence operations, it marks a clear intent to strengthen the company's international presence.
Key Highlights
Incorporation of Alembic Pharmaceuticals (Thailand) Co., Ltd. as a 99.99% owned subsidiary
Initial share capital of 3,000,000 Baht divided into 300,000 shares of 10 Baht each
Primary objective is to promote and distribute pharmaceutical products in the Thailand market
Current turnover is nil as the entity is newly incorporated and yet to start operations
Investment is made in cash for the acquisition of share capital
💼 Action for Investors
Investors should monitor the company's progress in the Southeast Asian market as this expansion could provide a new revenue stream. No immediate action is required as the financial impact will only be visible once operations commence.
India Shelter Finance Gets 'IND AA-/Stable' Rating for Rs 20,000 Million Bank Facilities
India Ratings and Research (Ind-Ra) has affirmed and assigned credit ratings for India Shelter Finance Corporation's bank loan facilities. The agency affirmed the 'IND AA-/Stable' rating for existing facilities worth Rs 10,000 million. Additionally, a new rating of 'IND AA-/Stable' was assigned to an additional Rs 10,000 million in bank loan facilities. This brings the total rated bank facilities in this announcement to Rs 20,000 million, reflecting a strong and stable credit profile for the NBFC.
Key Highlights
Ind-Ra assigned a new 'IND AA-/Stable' rating for bank loan facilities worth Rs 10,000 million.
Ind-Ra affirmed the 'IND AA-/Stable' rating for existing bank loan facilities of Rs 10,000 million.
Total bank loan facilities covered in this rating action aggregate to Rs 20,000 million.
The 'Stable' outlook indicates the rating agency's confidence in the company's consistent financial health.
💼 Action for Investors
The affirmation of a high credit rating is a positive signal regarding the company's solvency and ability to access capital at competitive rates. Investors should monitor if this leads to a reduction in the company's overall cost of funds in upcoming quarterly results.
RailTel Declares 2nd Interim Dividend of Rs 1 Per Share; Sets March 13 as Record Date
RailTel Corporation of India has declared its second interim dividend for the financial year 2025-26 at a rate of 10% of the paid-up share capital. This translates to a payout of Rs 1 per equity share to eligible shareholders. The company has designated March 13, 2026, as the record date for this corporate action. Shareholders can expect the dividend payment to be processed by March 24, 2026.
Key Highlights
Second interim dividend declared at 10% of paid-up capital (Rs 1 per share)
Record date for dividend eligibility is fixed as March 13, 2026
Dividend payment date is scheduled for March 24, 2026
The Board meeting for this declaration concluded on March 9, 2026
💼 Action for Investors
Investors seeking the dividend must hold the shares in their demat account by the record date of March 13, 2026. This payout reflects the company's consistent policy of sharing profits with its shareholders.
RailTel Declares 2nd Interim Dividend of Re 1 Per Share; Record Date March 13
RailTel Corporation of India has declared a second interim dividend of Re 1 per equity share for the financial year 2025-26. This payout represents 10% of the company's paid-up share capital. The Board has fixed March 13, 2026, as the record date to determine shareholder eligibility. The dividend is scheduled to be paid to eligible shareholders by March 24, 2026.
Key Highlights
Declared 2nd interim dividend of Re 1 per equity share for FY 2025-26
Dividend amount represents 10% of the paid-up share capital
Record date for eligibility is fixed as Friday, March 13, 2026
Payment of the dividend will be completed by Tuesday, March 24, 2026
💼 Action for Investors
Investors interested in the dividend should ensure they hold the shares before the ex-dividend date. The announcement reflects the company's consistent policy of sharing profits with shareholders.
RailTel Secures ₹26.73 Crore Order from South East Central Railway
RailTel Corporation of India has received a Letter of Acceptance from South East Central Railway for a domestic project valued at approximately ₹26.73 crore. The contract involves the supply, trenching, laying, and termination of Optical Fiber Cable (OFC) infrastructure. The project is scheduled to be completed by March 5, 2027, providing revenue visibility for the upcoming fiscal year. This win underscores RailTel's continued dominance in the railway telecommunications segment.
Key Highlights
Total order value is ₹26,72,60,140 (approximately ₹26.73 Crore)
Contract awarded by South East Central Railway for OFC infrastructure works
Execution timeline set for completion by March 5, 2027
Scope includes supply, trenching, laying, and jointing of Optical Fiber Cables
💼 Action for Investors
Investors should consider this a positive development that adds to RailTel's robust order book. Maintain a watch on the company's execution efficiency and quarterly order inflow trends.
Maha Rashtra Apex to Finalize Rights Issue Terms on March 11; Trading Window Closed
Maha Rashtra Apex Corporation Limited has announced a trading window closure starting March 7, 2026, ahead of a crucial board meeting. The Board of Directors is scheduled to meet on March 11, 2026, to finalize the terms of a proposed Rights Issue. Key decisions will include the pricing terms, the Rights entitlement ratio, and the official schedule of the issue. The trading window will remain closed for designated persons until 48 hours after the board's decisions are disclosed to the exchanges.
Key Highlights
Trading window for designated persons closed from March 7, 2026.
Board meeting scheduled for March 11, 2026, to approve Rights Issue details.
Agenda includes determining the pricing terms and Rights entitlement ratio.
Approval and adoption of the Letter of Offer expected during the meeting.
Trading window to reopen 48 hours after the announcement of board outcomes.
💼 Action for Investors
Investors should closely monitor the March 11 announcement for the Rights Issue price and entitlement ratio to determine the potential for dilution. Assess the company's stated purpose for the fundraise before deciding to exercise rights.