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Adani Power Shareholders Approve Related Party Transactions and New Independent Director
Adani Power Limited has announced the successful passing of two key resolutions via postal ballot with overwhelming shareholder support. The first resolution regarding material modifications to material related party transactions was approved with 99.99% of the votes cast in favor. The second resolution, confirming the appointment of Mr. Narendra Nath Misra as an Independent Director for a three-year term, received 99.96% approval. These results indicate strong alignment between the management and the voting shareholders on corporate governance and operational modifications.
Key Highlights
Material modifications to related party transactions approved with 99.99% favorable votes from non-interested parties.
Mr. Narendra Nath Misra appointed as Independent Director for a 3-year term effective December 4, 2025.
Total of 17.92 billion votes were cast for the director appointment resolution, representing a high turnout.
Promoter group, holding approximately 14.45 billion shares, abstained from the Related Party Transaction vote as per regulatory requirements.
The e-voting process saw participation from 21,87,198 shareholders as of the cut-off date.
💼 Action for Investors
No immediate action is required as these are routine governance approvals. Investors should continue to monitor the company's disclosures for specific details on the modified related party transactions.
JBM Auto Clarifies on News Regarding Acquisition of Fortum's EV Charging Business
JBM Auto Limited has responded to an exchange query regarding media reports of an exclusivity pact to acquire Fortum's EV charging business in India. The company clarified that as of December 30, 2025, no such agreement has been executed by the listed entity or its subsidiaries. Due to a corporate office closure until January 1, 2026, the company has requested additional time to provide a more detailed response. Investors should remain cautious as the company has promised a final clarification after the office reopens on January 2, 2026.
Key Highlights
Exchange sought clarification on news titled 'JBM Group signs exclusivity pact to buy Fortum’s EV charging business'
Company states no agreement has been executed by JBM Auto Ltd or its subsidiaries as of Dec 30, 2025
Corporate office is closed for holidays from December 29, 2025, to January 1, 2026
A detailed clarification is expected to be filed after the office reopens on January 2, 2026
💼 Action for Investors
Investors should wait for the detailed clarification on January 2, 2026, to understand if the acquisition involves the listed entity or other group companies. Avoid reacting to speculative media reports until the company provides a definitive statement.
BTML EOGM: Approval Sought for Preferential Equity Issue to Non-Promoters
Bodhi Tree Multimedia Limited (BTML) held an Extraordinary General Meeting on December 30, 2025, to approve a preferential issue of equity shares. The shares are to be issued to non-promoters for consideration other than cash, indicating a potential strategic acquisition or asset swap. Remote e-voting was available for shareholders from December 26 to December 29, 2025. The company will disseminate the final voting results to the stock exchanges shortly to confirm the resolution's passage.
Key Highlights
EOGM held on December 30, 2025, to approve preferential share issuance.
Remote e-voting conducted from Dec 26 (9:00 AM) to Dec 29 (5:00 PM), 2025.
Equity shares to be issued to non-promoters for consideration other than cash.
The meeting was brief, commencing at 12:00 PM and concluding at 12:20 PM.
💼 Action for Investors
Investors should wait for the official voting results and specific details regarding the non-cash consideration to evaluate the impact on share value. It is critical to review the valuation report once available to ensure the issuance is fair to minority shareholders.
Indian Hume Pipe Sells Hyderabad Land Asset for INR 173.96 Crores
Indian Hume Pipe Company Limited (IHP) has successfully completed the sale of its Hyderabad land asset for a total consideration of INR 173.96 Crores. The land, measuring approximately 15,310.80 square meters, was sold to ASBL Private Limited through a competitive bidding process. This transaction follows the company's recent acquisition of full ownership of the property, which it had held on leasehold for 94 years. The significant cash inflow is expected to strengthen the company's liquidity position and balance sheet.
Key Highlights
Sale of 18,311.57 Sq. Yds. (approx. 15,310.80 Sq. Mtrs.) land in Hyderabad for INR 173.96 Crores.
The buyer is ASBL Private Limited, formerly known as Ashoka Builders India Private Limited.
The property was held on leasehold for 94 years before ownership was recently obtained and the sale concluded.
The transaction was finalized through a competitive bidding process with JLL acting as transaction advisors.
Proceeds represent a major monetization of a non-core asset for the company.
💼 Action for Investors
Investors should view this as a positive liquidity event; monitor the company's upcoming financial statements to see if the proceeds are used for debt reduction, expansion, or a special dividend.
Indian Hume Pipe Sells Hyderabad Land for Rs 173.96 Crore
Indian Hume Pipe Company Limited has successfully completed the sale of its freehold land in Azamabad, Hyderabad, for a total consideration of Rs 173.96 crore. The buyer, ASBL Private Limited, has paid the entire amount, and the sale deed was registered on December 30, 2025. This transaction follows the company's 2023 conversion of the land from leasehold to freehold at a cost of Rs 107.38 crore. The deal represents a significant liquidity event and value unlocking of a non-core asset.
Key Highlights
Sale of 18,311.57 Sq. Yards of land in Hyderabad for a total of Rs 173.96 crore
Entire sale consideration already received from buyer ASBL Private Limited
Land was converted to freehold in 2023 for a total cost of Rs 107.38 crore
Transaction completed and registered on December 30, 2025
The sale does not involve any related party transactions or promoter groups
💼 Action for Investors
Investors should view this as a positive development that significantly boosts the company's cash reserves. Monitor the upcoming quarterly results to see how this gain is accounted for and if the funds are used to reduce debt or fund new projects.
Shilpa Medicare Receives Delhi High Court Injunction Over Ruxolitinib Patent Infringement
Shilpa Medicare and its subsidiaries have received an ex-parte ad-interim injunction from the Delhi High Court regarding the drug Ruxolitinib. The order restrains the company from manufacturing, exporting, or selling the product due to alleged infringement of Patent No. IN269841. The company clarified that the product was used solely for research purposes and claims there is no immediate financial impact on current operations. While a Local Commissioner inspected the premises and records, the company reports that business continues as usual.
Key Highlights
Delhi High Court issued an injunction against Shilpa Medicare and two subsidiaries regarding Ruxolitinib API.
The order restrains manufacturing, stockpiling, and exporting of products infringing Patent No. IN269841.
Company states the drug was utilized for research purposes only with no current financial impact.
Local Commissioner inspected office premises and stock registers on December 29, 2025.
Shilpa Medicare is evaluating legal options including filing responses or appeals against the order.
💼 Action for Investors
Investors should monitor the legal proceedings for any potential penalties or restrictions on future product launches. While the immediate financial impact is nil, patent litigation can affect the company's R&D pipeline and legal expenses.
IIFL Finance Allots NCDs Worth ₹800 Crore via Private Placement
IIFL Finance has successfully allotted 70,100 Non-Convertible Debentures (NCDs) to raise a total of ₹800 crore through a private placement. The fundraise is divided into three tranches: ₹300 crore with a 7-year tenure at 9.25%, ₹400 crore with a 10-year tenure at 9.30%, and ₹100 crore in perpetual debt at 9.90%. These subordinated and unsecured instruments will help strengthen the company's capital base and provide long-term liquidity. The securities are slated to be listed on the National Stock Exchange (NSE).
Key Highlights
Total allotment of 70,100 securities aggregating to ₹800 crore on a private placement basis.
Option A-I: ₹300 crore raised at 9.25% p.a. coupon with a 7-year maturity period.
Option A-II: ₹400 crore raised at 9.30% p.a. coupon with a 10-year maturity period.
Option B: ₹100 crore raised via Perpetual NCDs at a higher coupon rate of 9.90% p.a.
All instruments are subordinated, unsecured, and rated, providing Tier-II capital support.
💼 Action for Investors
Investors should monitor the company's deployment of these funds into high-yield lending segments to offset the 9.25%-9.90% cost of debt. This capital raise is a positive sign of institutional confidence and improves the company's long-term liability profile.
Shakti Pumps Wins Rs 21 Crore Order for 1,000 Solar Pumps in Jharkhand
Shakti Pumps (India) Limited has secured a work order from the Jharkhand Renewable Energy Development Agency (JREDA) for 1,000 stand-alone off-grid solar water pumping systems. The total order value is approximately Rs 21.00 Crores (inclusive of GST) and falls under Component-B of the PM-KUSUM scheme. This marks the company's third order from the state of Jharkhand, showcasing its strong regional presence and execution capability. The project is expected to be completed within 120 days from the issuance of the Notice to Proceed.
Key Highlights
Total order value of Rs 21.00 Crores inclusive of GST (Rs 19.29 Crores base value)
Contract for 1,000 stand-alone off-grid solar photovoltaic water pumping systems (SPWPS)
Awarded by Jharkhand Renewable Energy Development Agency under PM-KUSUM Component-B
Execution timeline of 120 days from the date of Notice to Proceed (NTP)
Represents the third order received by the company from the state of Jharkhand
💼 Action for Investors
Investors should view this as a positive development that adds to the company's robust order book under the PM-KUSUM scheme. While the order size is relatively small compared to recent large wins, it confirms the company's competitive edge in the solar pump market.
Eicher Motors Subsidiary VECV Receives GST Demand Order of ₹96.18 Crores
Eicher Motors' material subsidiary, VE Commercial Vehicles Limited (VECV), has received a GST demand order of ₹96.18 crores for FY 2017-18. This order is a reduction from the original show cause notice amount of ₹168.19 crores issued in July 2025. The demand includes an equivalent penalty and applicable interest related to alleged delays in reporting credit notes. The company maintains that the order has no merit and intends to file an appeal with the appropriate authorities.
Key Highlights
VECV received a GST demand order for ₹96.18 crores plus an equivalent penalty and interest.
The confirmed demand is approximately 43% lower than the original show cause notice of ₹168.19 crores.
The dispute pertains to the alleged delay in reporting credit notes during the Financial Year 2017-18.
Management states there is no immediate impact on the financial or operational activities of Eicher Motors.
The company plans to challenge the order through a formal appeal process based on legal advice.
💼 Action for Investors
Investors should monitor the outcome of the appeal process as the total liability including penalty exceeds ₹192 crores. While significant, the reduction from the initial notice and the company's intent to appeal suggest a manageable legal risk.
Steel Exchange India Board Approves Fund Raising Up To Rs 700 Crore
The Board of Directors of Steel Exchange India Limited has approved a significant fund-raising proposal for an aggregate amount not exceeding Rs 700 crore. The capital is intended to be raised in one or more tranches through various instruments including equity shares, convertible warrants, and non-convertible debentures. The company plans to utilize multiple routes such as Qualified Institutions Placement (QIP), private placement, or preferential issues. This move is subject to necessary approvals from shareholders, lenders, and regulatory authorities.
Key Highlights
Approved raising of funds up to Rs 700 crore through equity or debt instruments.
Instruments include equity shares, convertible warrants, and secured or unsecured non-convertible debentures.
Issuance modes authorized include QIP, private placement, preferential issue, and public issue.
A dedicated Fund-Raising Committee has been formed to finalize the structure, pricing, and terms.
The proposal requires further approval from shareholders and relevant regulatory bodies.
💼 Action for Investors
Investors should monitor the specific pricing and the extent of equity dilution once the issuance mode is finalized. The successful infusion of Rs 700 crore could significantly improve the company's liquidity for expansion or debt management.
TVS Motor Partners with Manba Finance for Commercial Vehicle Financing Solutions
TVS Motor Company has entered into a strategic partnership with Manba Finance Limited to provide retail financing for its commercial mobility segment. The agreement covers the entire range of passenger and cargo three-wheelers, including both Internal Combustion Engine (ICE) and Electric Vehicle (EV) models. This collaboration aims to improve vehicle affordability and market penetration in rural and semi-urban areas through competitive EMI schemes and faster loan processing. For investors, this move is expected to boost sales volumes in the commercial vehicle segment by lowering the entry barrier for entrepreneurs and fleet operators.
Key Highlights
MoU signed with Manba Finance to offer retail finance for the entire commercial mobility portfolio.
Covers both ICE and EV models across passenger and cargo three-wheeler segments.
Aims to reduce loan turnaround time (TAT) and increase penetration in rural and semi-urban markets.
Partnership expected to contribute significantly to growth starting from FY26.
💼 Action for Investors
Investors should monitor the sales growth in the 3-wheeler and EV commercial segments over the coming quarters as this financing tie-up takes effect. This partnership strengthens TVS's competitive position in the last-mile connectivity market.
Steel Exchange India Board Approves Fund Raising Up to ₹700 Crore
The Board of Directors of Steel Exchange India Limited has approved a proposal to raise funds up to ₹700 crore in one or more tranches. The capital will be raised through various instruments including equity shares, convertible warrants, and non-convertible debentures. The company plans to utilize routes such as preferential issues, QIPs, or private placements to secure the capital. This move is subject to shareholder and regulatory approvals, and a dedicated Fund-Raising Committee has been formed to finalize the terms.
Key Highlights
Approved fund raising for an aggregate amount not exceeding ₹700 crore.
Instruments include equity shares, equity-linked instruments, and debt instruments like NCDs.
Issuance modes include preferential issue, private placement, QIP, or public issue.
A Fund-Raising Committee has been constituted to determine the final structure, price, and timing.
The proposal is subject to necessary approvals from shareholders, lenders, and regulatory bodies.
💼 Action for Investors
Investors should monitor the specific mode of fund raising and the resulting equity dilution if equity-linked instruments are chosen. The utilization of these funds for debt reduction or capacity expansion will be a key trigger for the stock's long-term performance.
Steel Exchange India Board Approves Fundraise of Up to Rs 700 Crore
The Board of Directors of Steel Exchange India Limited has approved a proposal to raise funds up to Rs 700 crore in one or more tranches. The capital may be raised through equity shares, convertible warrants, or debt instruments like non-convertible debentures. The company plans to utilize various routes including preferential issues, QIPs, or private placements to secure the capital. This move is subject to shareholder and regulatory approvals, and a dedicated Fund-Raising Committee has been formed to finalize the terms and pricing.
Key Highlights
Board approved raising an aggregate amount not exceeding Rs 700 crore.
Instruments include equity shares, convertible warrants, and secured/unsecured non-convertible debentures.
Fundraising modes include preferential issue, private placement, QIP, or public issue.
A Fund-Raising Committee has been delegated powers to determine the structure, price, and timing of the issue.
The proposal is subject to necessary approvals from shareholders, lenders, and regulatory bodies.
💼 Action for Investors
Investors should monitor the specific pricing and mode of the fundraise, as equity-linked instruments could lead to equity dilution. The impact will depend on whether the funds are used for debt reduction or capacity expansion to drive future earnings.
Escorts Kubota Wins GST Dispute; ₹43.26 Crore Tax Demand Dropped for FY 2018-19
Escorts Kubota Limited has received a favorable ruling from the State Tax Officer in Chennai regarding a previously contested GST demand. The tax authority has dropped a demand of ₹43.26 Crores, including interest and penalties, for the Financial Year 2018-19. The dispute arose from the GST department's misclassification of agricultural tractors as road tractors and incorrect turnover calculations. This resolution confirms the company's earlier stance that the litigation would not have a material financial impact.
Key Highlights
State Tax Officer, Chennai, dropped a GST tax demand of ₹43.26 Crores for FY 2018-19.
The order includes the removal of all associated interest and penalties related to the demand.
The dispute involved the incorrect classification of agricultural tractors as road tractors by authorities.
The company successfully argued against the computation of taxes on total GST turnover instead of tractor-specific turnover.
This outcome resolves a significant portion of the litigation previously disclosed in May 2025.
💼 Action for Investors
Investors should view this as a positive development that eliminates a potential contingent liability. No immediate action is required as the company's legal position has been vindicated.
Everest Industries GST Demand Reduced from ₹8.26 Crore to Nominal ₹51,786
Everest Industries has received a favorable order from the Deputy Commissioner of State Tax, Jabalpur, regarding a prior GST show cause notice. The original demand of ₹8.26 crore, which included tax, interest, and penalties, has been reduced by ₹8.26 crore following the company's representation. The company now has zero tax liability from this notice, with only a nominal interest of ₹1,786 and a penalty of ₹50,000 remaining to be paid. This resolution effectively eliminates a significant potential financial liability for the company.
Key Highlights
Original GST demand of ₹8,26,59,694 has been reduced by ₹8,26,07,908 following a successful appeal.
The tax demand component of ₹2,58,31,923 has been completely waived by the authorities.
Final liability is reduced to a nominal interest of ₹1,786 and a penalty of ₹50,000.
The order was received on December 29, 2025, from the Office of Deputy Commissioner of State Tax, Jabalpur.
💼 Action for Investors
Investors should view this as a positive development as it clears a significant tax contingency and prevents a cash outflow of over ₹8 crore. No further action is required as the matter is largely resolved.
MapmyIndia Expands Mappls App with Multimodal Public Transport Across 18+ Cities
MapmyIndia has integrated multimodal public transport information, including metro, rail, and bus routes, into its Mappls App to enhance the experience for its 40 million+ users. The feature is currently live in 18 major Indian cities on iOS and Web, with an Android rollout expected shortly. This expansion aims to drive higher consumer adoption and support sustainable urban mobility, aligning with the company's indigenous technology focus. Notably, the company's government business already contributes 20% to its gross revenue, and this feature strengthens its positioning for further public sector collaborations.
Key Highlights
Introduced multimodal routes for metro, rail, and bus across 18 major Indian cities including Delhi, Mumbai, and Bengaluru.
The Mappls App currently serves a user base of over 40 million+ individuals.
Government business segment currently contributes 20% to the company's total gross revenue.
Feature is live on iOS and Web platforms, with an Android integration planned for the near future.
💼 Action for Investors
Investors should monitor user engagement and app download growth as this update improves competitiveness against global mapping services. The expansion reinforces MapmyIndia's B2C value proposition and its strategic alignment with national infrastructure goals.
Tata Power Commissions India's Largest 1 GW DCR-Compliant Solar Project for SJVN
Tata Power Renewable Energy Limited (TPREL) has successfully commissioned a landmark 1 GW solar project for SJVN in Bikaner, Rajasthan. This project is the largest commissioned by TPREL to date and utilized 2.4 million solar modules manufactured at the company's own Tirunelveli facility. The project will supply clean power to Rajasthan, Jammu & Kashmir, and Uttarakhand, generating approximately 2,454.84 million units of green electricity annually. This milestone brings TPREL's total renewable utility-scale capacity to 11.6 GW, including 4.9 GW of third-party EPC projects.
Key Highlights
Commissioned 1 GW (1,000 MW AC / 1,400 MWp DC) solar project, the largest in TPREL's history.
Utilized 2.4 million DCR-compliant modules manufactured in-house at TP Solar Limited, Tirunelveli.
Total renewable utility-scale capacity reaches 11.6 GW, with 4.9 GW executed as third-party EPC.
Project expected to offset 1.74 million tonnes of CO2 and generate 2,454.84 million units of electricity annually.
Power supply allocated to Rajasthan (500 MW), Jammu & Kashmir (300 MW), and Uttarakhand (200 MW).
💼 Action for Investors
Investors should note this as a significant boost to Tata Power's EPC credentials and its vertical integration strategy. The successful execution of a project of this scale reinforces the company's leadership in the renewable energy transition and its ability to handle complex, large-scale utility projects.
Finkurve Financial to Raise ₹35 Crore via Secured NCDs at 11.16% Coupon
Finkurve Financial Services has approved the issuance of 35,000 secured Non-Convertible Debentures (NCDs) to raise ₹35 crore on a private placement basis. The NCDs carry a high coupon rate of 11.16% per annum with interest payable on a monthly basis. The tenure of the instrument is approximately 18 months, with a final maturity date set for July 7, 2027. This fundraise is secured by a first ranking charge on identified receivables, aimed at strengthening the company's capital base for its financial operations.
Key Highlights
Total fundraise of ₹35 crore through 35,000 NCDs with a face value of ₹10,000 each
Coupon rate fixed at 11.16% per annum with a monthly interest payment schedule
Tenure of 18 months and 7 days with maturity scheduled for July 7, 2027
NCDs are secured by a first ranking, exclusive, and continuous charge on identified receivables
Issuance to be conducted via the Electronic Bidding Platform (EBP) on a private placement basis
💼 Action for Investors
Investors should monitor the company's deployment of these funds into high-yield assets to ensure the 11.16% cost of debt is comfortably covered by interest income. The successful raising of debt at this rate indicates the company's active pursuit of growth in its lending book.
Kalpataru Ltd Receives ₹80.71 Crore GST Tax Demand and Penalty Order
Kalpataru Limited has received a formal tax demand order (DRC-07) from the CGST Mumbai authorities totaling ₹80.71 crores. The demand relates to alleged non-payment of GST on flats allotted to society members in exchange for development rights during FY 2018-19. The total amount includes ₹40.36 crores in tax and an equivalent ₹40.36 crores in penalties. The company plans to appeal the order and currently expects no material financial impact.
Key Highlights
Total tax demand and penalty amounting to ₹80,71,45,860.
Demand includes ₹40.36 crore in tax and ₹40.36 crore in penalties under Section 74 of the GST Act.
The dispute involves GST on flats provided to members for transfer of development rights in FY 2018-19.
The company intends to challenge the order before the Appellate Authority.
This matter was previously disclosed in the company's Red Herring Prospectus dated June 18, 2025.
💼 Action for Investors
Investors should monitor the progress of the appeal as an adverse final ruling could impact the company's cash flows, though the issue was previously disclosed in IPO documents.
Punjab & Sind Bank to seek shareholder approval for ₹3,000 crore fundraise via QIP
Punjab & Sind Bank has scheduled an Extraordinary General Meeting (EGM) on January 21, 2026, to seek shareholder approval for raising equity capital. The bank proposes to raise up to ₹3,000 crore (including premium) through a Qualified Institutional Placement (QIP). This capital infusion is intended to bolster the bank's Tier-1 capital base and support future business expansion. The cut-off date for voting eligibility is January 14, 2026.
Key Highlights
Proposed equity capital raise of up to ₹3,000 crore through the QIP route.
Extraordinary General Meeting (EGM) to be held on January 21, 2026, via Video Conferencing.
Bank authorized to offer a discount of up to 5% on the floor price as per SEBI ICDR regulations.
Remote e-voting period scheduled from January 17 to January 20, 2026.
Capital raised will be used to strengthen capital adequacy and fund credit growth.
💼 Action for Investors
Investors should monitor the QIP pricing and the resulting equity dilution, as the capital boost will improve the bank's lending capacity and capital ratios.