CARE Ratings has upgraded GHCL Textiles' long-term rating to 'CARE A; Stable' and short-term rating to 'CARE A1'. The upgrade covers bank facilities totaling Rs 600 crore and is based on the company's H1FY26 financial and operational performance. Notably, the company has also fully repaid certain term loans, leading to the withdrawal of those specific ratings. This improvement in credit profile suggests better financial stability and potential for reduced borrowing costs in the future.

The Phoenix Mills Limited reported strong operational performance for Q3 FY26, with retail consumption growing 20% YoY to Rs. 4,787 crore. The commercial segment saw significant improvement, with leased occupancy in mature assets rising to 77% from 67% in March 2025. Residential sales showed massive growth, jumping to Rs. 140 crore in Q3 FY26 from Rs. 58 crore in the previous year. Hospitality also performed well, with St. Regis Mumbai achieving 86% occupancy and 10% RevPAR growth.

Shareholders of Vipul Limited have overwhelmingly approved a special resolution to issue up to 10.85 crore fully convertible warrants on a preferential basis. The proposal received 99.98% support from voting shareholders during the Extra Ordinary General Meeting held on January 8, 2026. The warrants will be allocated to both Promoter/Promoter Group and Public category entities, indicating a significant capital infusion. This move is likely intended to strengthen the company's balance sheet or fund upcoming projects.

Ravindra Energy Limited (RELTD) has received 13 Letters of Award from Hubli Electricity Supply Company Limited (HESCOM) for solar power projects in Karnataka. The aggregate capacity of 62 MW (AC) will be developed on a Build Own and Operate (BOO) basis with an estimated capital expenditure of Rs 225 crore. The company will enter into a 25-year Power Purchase Agreement (PPA) at an average tariff of Rs 2.95 per unit. These projects are expected to be commissioned within 12 months from the date of the PPA signing, ensuring long-term revenue visibility.

Gujarat Mineral Development Corporation (GMDC) has been assigned a provisional ESG rating of 77.7, placing it in the 'Leadership' category by CareEdge ESG Ratings Ltd. The assessment, conducted in November 2025, involved field visits to operational assets and management engagement to evaluate governance and sustainability frameworks. This rating is a key milestone under the company's 'Project Shikhar' strategic transformation initiative. For investors, this signifies a commitment to transparency and responsible business practices, which is increasingly critical for institutional fund flows.

REC Limited has been awarded an 'Excellent' rating by the Department of Public Enterprises (DPE) for its performance under the Memorandum of Understanding (MoU) for the financial year 2024-25. This rating is based on the performance agreement signed with its holding company, Power Finance Corporation (PFC). Significantly, this marks the third consecutive year that REC has secured the highest possible rating from the Ministry of Finance. This consistent achievement highlights the company's sustained excellence in operational and financial execution.

Gujarat Mineral Development Corporation (GMDC) has been assigned a provisional ESG rating of 77.7 (CareEdge-ESG 1) by CareEdge ESG Ratings Ltd. This score places the company in the 'Leadership' category for ESG risk management, reflecting strong governance and policy frameworks. The assessment included on-ground field visits to operational assets and management discussions conducted in November 2025. This milestone is part of GMDC's 'Project Shikhar' initiative, aimed at strategic transformation and enhancing long-term stakeholder value.

CARE Ratings has reaffirmed CEAT Limited's credit ratings across several debt instruments, maintaining a 'Positive' outlook for long-term facilities. The company's Non-convertible debentures (NCDs) of Rs. 500 crore and Long-Term Bank facilities of Rs. 1,406 crore are rated CARE AA/Positive. Short-term instruments, including Commercial Paper of Rs. 1,000 crore and bank facilities of Rs. 1,920 crore, have retained the highest CARE A1+ rating. The adjustment in bank facility limits reflects a shift toward short-term liquidity management.

Delta Corp Limited has announced the closure of its casino operations at The Zuri White Sands Goa, managed by its subsidiary Delta Pleasure Cruise Company Private Limited. The unit contributed Rs. 15.51 crores to the consolidated turnover, which is approximately 2.13% of the total revenue. Significantly, the unit had a negative net worth of Rs. 15.26 crores and was operating at a loss. Management indicates that this closure will not materially impact the company's overall financial position as other operations remain unaffected.

Vipul Limited held an Extraordinary General Meeting (EGM) on January 08, 2026, to seek approval for a major fundraise. The primary agenda was the issuance of up to 10,85,00,000 fully convertible warrants on a preferential basis. These warrants are intended for both the Promoter & Promoter Group and Public category investors. The company expects to announce the final voting results and the scrutinizer's report within two working days.

CRISIL has removed Sterlite Technologies Limited (STL) from 'Rating Watch with Negative Implications', signaling a stabilization in its credit profile. The agency reaffirmed the long-term rating at 'CRISIL AA-/Negative' for bank facilities and NCDs, while the short-term rating for Rs. 800 crore commercial paper stands at 'CRISIL A1+'. Notably, the total bank loan facilities rated were reduced from Rs. 5,767 crore to Rs. 4,045 crore, indicating a reduction in debt exposure. This update provides better clarity on the company's creditworthiness despite the continued 'Negative' outlook.

RailTel Corporation of India has received a significant work order worth approximately ₹101.82 crore from the Public Financial Management System (PFMS). The contract involves the establishment and managed operations of IT infrastructure for Data Centers (DC) and Disaster Recovery (DR), including SOC services and Data Center Colocation. This domestic project is scheduled for execution over a five-year period, concluding by January 7, 2031. This win reinforces RailTel's capabilities in the high-growth IT infrastructure and managed services segment.

Larsen & Toubro (L&T) has secured a supply order from the Indian Army's Corps of Electronics and Mechanical Engineers (EME) for the overhaul and modernization of Pinaka Multi-Rocket Launcher Systems. As the Original Equipment Manufacturer (OEM), L&T will provide critical spares, technical support, and quality oversight, while the 510 Army Base Workshop will execute the overhaul. This partnership marks a significant shift toward a lifecycle-based sustenance model for indigenous defense platforms, moving beyond initial manufacturing into long-term maintenance and upgrades. The project will begin with a pilot phase for the Pinaka Launcher and Battery Command Post before scaling to the rest of the fleet.

Midwest Limited has been awarded a significant 30-year quarry lease by the Department of Mines & Geology, Government of Andhra Pradesh. The lease allows for the extraction of Coloured Quartzite Blocks across 21.012 hectares (51.92 acres) in the Prakasam District. With an estimated marketable reserve of 609,620 cubic meters, this contract provides the company with long-term raw material security until January 2056. This development is expected to bolster the company's processing and export capabilities for polished stone products over the next three decades.

Midwest Limited's board has approved the formation of a new wholly-owned subsidiary in Sierra Leone, West Africa. This strategic move is aimed at expanding the company's Heavy Mineral Sands (HMS) reserves to support long-term growth. The incorporation of a local entity is a mandatory regulatory requirement in Sierra Leone to apply for mineral rights. This initiative highlights the company's focus on securing global resource-rich locations to strengthen its supply chain.

Ravindra Energy Limited (RELTD) has announced the successful passage of three key resolutions via postal ballot with over 99% majority for each. Shareholders approved the appointment of Mr. Apurva Chandra as an Independent Director and authorized the company to provide loans, guarantees, or securities to its subsidiaries and associates. Additionally, a material related party transaction with Energy In Motion Limited was approved. Notably, the promoter group, holding over 12.38 crore shares, abstained from voting on the loan and RPT resolutions, ensuring the outcome was determined by other shareholders.

Royal Orchid Hotels (ROHLTD) has signed a management agreement for a new 60-key property in Jaipur, scheduled to open by April 2026. The property, Regenta Suites & Residences Jaipur, follows the company's asset-light expansion strategy to minimize capital expenditure. This addition strengthens the company's footprint in a key urban and leisure destination, specifically targeting long-stay and business travelers. The project is being developed in partnership with SSBC Group.