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Maithan Alloys faces ₹1.61 crore GST order
Maithan Alloys Limited has received an order under Section 73 of the CGST Act, 2017, demanding erroneously refunded ITC of Compensation Cess amounting to ₹97,51,499.10. Additionally, the order includes an interest of ₹53,90,842 and a penalty of ₹9,75,150, bringing the total demand to ₹1,61,17,491.10. The company is evaluating options to contest the order. Investors should monitor the company's response and potential impact on financials.
Key Highlights
Demand for erroneously refund of ITC of Compensation Cess: ₹97,51,499.10
Applicable Interest: ₹53,90,842
Penalty imposed: ₹9,75,150
Total demand: ₹1,61,17,491.10
💼 Action for Investors
Investors should closely monitor Maithan Alloys' legal proceedings and assess the potential financial impact of the GST order. Consider the outcome of the appeal process before making any investment decisions.
Biocon Biologics to Commercialize Biosimilar Aflibercept Worldwide
Biocon Biologics has signed a settlement and license agreement to commercialize biosimilar Aflibercept (YESAFILI) worldwide. This agreement with Regeneron and Bayer covers Europe and the rest of the world, following a previous settlement for the US and Canada. YESAFILI is a VEGF inhibitor used for ophthalmology conditions. The company plans to launch YESAFILI in the UK in January 2026 and in other settled countries by March 2026 or earlier.
Key Highlights
Biocon Biologics will commercialize biosimilar Aflibercept (40mg/ml) worldwide.
YESAFILI launch in the United Kingdom is planned for January 2026.
YESAFILI launch in other settled countries is planned for March 2026 or earlier.
Biocon Biologics has commercialized 10 biosimilars across 120+ countries.
💼 Action for Investors
This agreement expands Biocon Biologics' global presence in the ophthalmology therapeutic area. Investors should monitor the launch and market uptake of YESAFILI in 2026.
Excel Realty Whole-time Director Jasman Singh Chadha Sells Entire 0.59% Stake
Jasman Singh Chadha, a Whole-time Director at Excel Realty N Infra Ltd, has sold his entire holding in the company through open market transactions. He disposed of 83,19,590 equity shares, which accounts for 0.59% of the company's total paid-up share capital. The transactions were carried out between December 5 and December 10, 2025. Following this sale, the director's personal shareholding in the company has been reduced to zero.
Key Highlights
Whole-time Director Jasman Singh Chadha sold 83,19,590 equity shares in the open market.
The sale represents 0.59% of the total paid-up share capital of Excel Realty N Infra Ltd.
The disposal took place over a period from December 5 to December 10, 2025.
Post-transaction, the director's holding in the company stands at NIL (0 shares).
The total value of the transaction was approximately 97.88 lakh based on the Form C disclosure.
💼 Action for Investors
Investors should exercise caution as a complete exit by a Whole-time Director can be a signal of low confidence in the company's future performance. It is advisable to monitor if other promoters or key management personnel are also reducing their stakes.
TVSELECT: Litigation Update - No Demand Raised After Review
TVS Electronics Limited (TVSELECT) announced an update on a material pending litigation with the Uttar Pradesh Goods & Services Tax Department. The department had issued a show cause notice demanding ₹25.65 Cr for the financial year 2021-22 related to Input Tax Credit (ITC). However, after reviewing the company's submitted documents, the department vacated the show cause notice, resulting in no actual demand. This resolves a potential financial risk for the company.
Key Highlights
Initial demand from Uttar Pradesh GST Department: ₹25.65 Cr
Penalty included in initial demand: ₹2.33 Cr
Actual demand after review: NIL
Show Cause Notice issued under u/s 73(1) of CGST/UPGST Act 2017
💼 Action for Investors
Investors can view this update positively as it removes a potential financial liability. Monitor future regulatory filings for any further developments.
PVR INOX opens 5 new screens, unveils 11-screen Superplex in Hyderabad
PVR INOX Limited has announced the opening of 5 new screens at Inorbit Mall, Cyberabad, Hyderabad, transforming the cinema into an 11-screen superplex. The Superplex features 3 premium formats — Luxe, PXL, and 4DX. The PXL screen, the first in Telangana, features a 55-foot-wide screen. With this launch, PVR INOX now operates the largest multiplex network with 1772 screens across 355 properties in 111 cities.
Key Highlights
Opened 5 new screens at Inorbit Mall, Cyberabad, Hyderabad
The Superplex has 11 screens
PVR INOX operates 1772 screens across 355 properties
Superplex houses 1,368 seats
💼 Action for Investors
This expansion indicates growth for PVR INOX. Investors should monitor the performance of the new Superplex and its contribution to overall revenue.
AFIL Board approves ₹200 Crore NCD issuance & appoints Jinit Jain as Director
Akme Fintrade (India) Limited (AFIL) announced the Board's approval for issuing Senior, Secured, Listed, Rated, Transferable, Redeemable, Non-Convertible Debentures (NCDs) up to ₹200 Crores on a private placement basis. The Loan & Investment Committee is authorized to finalize the terms. Additionally, Mr. Jinit Jain has been appointed as an Additional Director, effective December 13, 2025. A penalty of additional interest at 2% p.a. will be charged for payment defaults.
Key Highlights
Approved issuance of Non-Convertible Debentures up to ₹200 Crores.
Security cover of at least 1.10x to be maintained on loan receivables.
Additional interest of 2% p.a. for payment defaults on NCDs.
Jinit Jain appointed as Additional Director effective December 13, 2025.
Penalty of at least 2% p.a. over the Coupon Rate will be applicable for delay in execution of Debenture Trust Deed.
💼 Action for Investors
Investors should monitor the terms and conditions of the NCD issuance, including the coupon rate and security cover. Keep an eye on any potential delays in security creation or execution of the Debenture Trust Deed, as these could trigger penalty interest.
AFIL Board Meeting Outcome: NCD Issuance up to ₹200 Crores Approved
Akme Fintrade (India) Limited's board approved the issuance of Senior, Secured, Listed, Rated, Transferable, Redeemable, Non-Convertible Debentures up to ₹200 Crores on a private placement basis. The Loan & Investment Committee is authorized to determine the specifics of the NCD issue. Mr. Jinit Jain was appointed as an Additional Director. The company will maintain a security cover of at least 1.10x during the tenure of the debentures.
Key Highlights
NCD issuance up to ₹200 Crores
Security cover of at least 1.10x on loan receivables
Additional interest rate of 2% per annum in case of payment default
Mr. Jinit Jain appointed as Additional Director effective December 13, 2025
💼 Action for Investors
Investors should monitor the terms and conditions of the NCD issuance as determined by the Loan & Investment Committee. Keep an eye on the company's ability to maintain the minimum security cover of 1.10x.
PTC India enters JV with NLC India Renewables for 2000 MW Green Energy Projects
PTC India Limited has entered into a Joint Venture Agreement with NLC India Renewables Limited to develop Green Energy Projects up to 2000 MW on a pan-India basis. The projects will include solar, wind, hydro, and battery storage systems. NLC India Renewables Limited will hold 74% of the shares, while PTC India Limited will hold 26%. This collaboration aims to explore opportunities in the renewable energy sector, subject to regulatory approvals.
Key Highlights
Joint Venture for development of Green Energy Projects up to 2000 MW
NLC India Renewables Limited to hold 74% share in the JV
PTC India Limited to hold 26% share in the JV
Collaboration includes solar, wind, hydro, and battery storage projects
💼 Action for Investors
Investors should monitor the progress of this joint venture and its impact on PTC India's renewable energy portfolio. Keep an eye on further announcements regarding project development and regulatory approvals.
SJVN Green Energy Commences 100.56 MW of Bikaner Solar Project
SJVN Limited announces that its wholly-owned subsidiary, SJVN Green Energy Limited (SGEL), has commenced commercial operation of 100.56 MW capacity of the 1,000 MW Bikaner Solar Power Project on December 12, 2025. With this addition, the project has achieved a total cumulative commissioned capacity of 830.70 MW out of the total 1,000 MW. The remaining capacity is expected to be commissioned soon, further contributing to SJVN's renewable energy portfolio.
Key Highlights
SJVN Green Energy Limited (SGEL) commenced 100.56 MW capacity.
Bikaner Solar Power Project has a total capacity of 1,000 MW.
Total cumulative commissioned capacity is 830.70 MW as of December 12, 2025.
💼 Action for Investors
Investors should monitor the commissioning of the remaining capacity of the Bikaner Solar Power Project. This expansion positively impacts SJVN's renewable energy capacity and future revenue potential.
Swiggy Allots 26,66,66,663 Equity Shares via QIP at ₹375 per share
Swiggy Limited has allotted 26,66,66,663 equity shares through a Qualified Institutional Placement (QIP) at a price of ₹375.00 per share. This includes a premium of ₹374.00 per Equity Share. The issue price reflects a discount of 3.97% from the floor price of ₹390.51 per Equity Share. The total amount raised through this issue is ₹99,99,99,98,625. Post-allotment, the paid-up equity share capital of the company has increased to ₹2,76,03,13,555.
Key Highlights
Allotted 26,66,66,663 Equity Shares via QIP.
Issue price is ₹375.00 per Equity Share.
Total amount raised is ₹99,99,99,98,625.
Discount of 3.97% on the floor price.
ICICI Prudential was allotted 4,26,66,666 shares (16.0000%)
💼 Action for Investors
Investors should note the increase in equity share capital. Monitor the deployment of funds raised through QIP for future growth initiatives.
Orchasp receives in-principle approval for equity share issue
Orchasp Limited has received in-principle approval from the NSE for issuing equity shares of ₹2 each under preferential terms. The approval is subject to the company fulfilling several conditions, including filing the listing application promptly and complying with regulations from SEBI, RBI, and MCA. The NSE has also advised Orchasp to strengthen internal controls to monitor trading by allottees and ensure compliance with SEBI (ICDR) Regulations. Investors should monitor the company's progress in fulfilling these conditions and ensure compliance with regulatory requirements.
Key Highlights
In-principle approval for issue of Equity shares of Rs. 2/- each
Compliance with SEBI (LODR) Regulations, 2015
Compliance with Companies Act, 1956 / Companies Act, 2013
Company advised to strengthen internal controls before allotment of securities
💼 Action for Investors
Investors should monitor Orchasp's compliance with the conditions set by NSE and SEBI. Watch for the filing of the listing application and adherence to regulatory guidelines.
Poonawalla Fincorp's Long-term rating enhanced to ₹15,285 Crore by CRISIL
CRISIL has reaffirmed 'CRISIL AAA/Stable' rating for Poonawalla Fincorp's long-term bank loan facilities, enhancing the rated amount to ₹15,285 Crore from ₹12,285 Crore. A 'CRISIL AAA/Stable' rating has been assigned to Non-Convertible Debentures of ₹10000 crore. The ratings factor in the expectation of support from Rising Sun Holdings Private Limited (RSHPL), which holds 63.96% stake in PFL. PFL's AUM grew by ~43% year-on-year in fiscal 2025 and thereafter by ~68% (annualized) in first half of fiscal 2026 to ₹47,701 as on September 30, 2025.
Key Highlights
Long-term rating enhanced to ₹15,285 Crore (from ₹12,285 Crore) by CRISIL.
CRISIL has assigned 'CRISIL AAA/Stable' rating to Non-Convertible Debentures of ₹10000 crore.
RSHPL holds 63.96% stake in PFL as on September 30, 2025.
PFL's AUM grew by ~68% (annualized) in first half of fiscal 2026 to ₹47,701 as on September 30, 2025.
Company’s networth stood healthy at ₹9,822 crore as on September 30, 2025.
💼 Action for Investors
The reaffirmed and enhanced credit ratings indicate strong financial health and stability. Investors can view this as a positive signal, but should continue to monitor the company's asset quality and earnings profile.
Swiggy closes QIP, allocates shares at ₹375.00 per share
Swiggy Limited has completed a Qualified Institutions Placement (QIP) of equity shares. The Investment & Allotment Committee approved the closure of the issue on December 12, 2025. A total of 26,66,66,663 Equity Shares were allocated at an issue price of ₹375.00 per Equity Share, including a premium of ₹374.00 per Equity Share. This price represents a discount of 3.97% to the floor price of ₹390.51 per Equity Share.
Key Highlights
Issue price set at ₹375.00 per Equity Share
26,66,66,663 Equity Shares allocated to eligible QIBs
Discount of 3.97% to the floor price of ₹390.51 per Equity Share
Issue closed on December 12, 2025
💼 Action for Investors
Investors should be aware of the potential dilution effect from the issuance of new shares. Monitor Swiggy's use of funds raised through the QIP and its impact on future growth.
KEC International bags new orders worth ₹1,150 crores
KEC International has secured new orders worth ₹1,150 crores in the T&D and Civil businesses in India. The India T&D business secured its largest-ever order for a 765 kV transmission line and 765/400 kV AIS substation. The Civil business secured an order for additional civil and structural works for a 150 MW thermal power plant. With these wins, the YTD order intake has crossed ₹18,000 crores.
Key Highlights
Secured new orders of ₹1,150 crores
India T&D business secured its largest-ever order
YTD order intake has crossed ₹18,000 crores
Civil business order for a 150 MW thermal power plant
💼 Action for Investors
The new order wins are a positive sign for KEC International. Investors should monitor the company's progress in executing these orders and its impact on future revenue and profitability.
Jash Engineering acquires WesTech Process Equipment India Pvt Ltd
Jash Engineering Limited has executed a Share Purchase Agreement to acquire M/s. WesTech Process Equipment India Pvt Ltd. Jash will acquire 90% of the share capital for a cash consideration of ₹31,36,86,000. WesTech Process Equipment India Private Limited's turnover as of 31.03.2025 was ₹56.01 Crore. This acquisition allows Jash to enter the industrial process equipment segment, including Mining, Metal, and Paper industries.
Key Highlights
Acquisition of 90% stake in WesTech Process Equipment India Private Limited
Cash consideration of ₹31,36,86,000 for the acquisition
WesTech Process Equipment India Private Limited turnover as of 31.03.2025: ₹56.01 Crore
Acquisition target's paid-up capital: ₹5,99,98,490
💼 Action for Investors
Investors should monitor the integration of WesTech and its impact on Jash's future revenue and profitability. This acquisition could lead to expansion into new industrial segments.
JSW Energy EGM on Jan 3, 2026 for preferential issue of shares & warrants
JSW Energy will hold an Extraordinary General Meeting on January 3, 2026, to approve the preferential issue of 95,23,809 equity shares at ₹525 per share to JTPM Metal Traders Limited. The company also seeks approval for issuing 4,76,19,047 warrants convertible into equity shares. The "Relevant Date" for determining the floor price is December 4, 2025. These issues are subject to regulatory approvals and aim to raise capital for the company.
Key Highlights
EGM to be held on January 3, 2026, at 11:00 a.m. IST
Issue of 95,23,809 equity shares at ₹525 per share
Issue of 4,76,19,047 warrants convertible into equity shares
Face value of equity shares is Rs. 10 each
Premium of Rs. 515 per equity share
💼 Action for Investors
Shareholders should review the EGM notice and explanatory statement to understand the implications of the preferential issue and warrant conversion. Monitor the company's announcements for updates on regulatory approvals and the progress of the fundraising.
Tata Steel: Interim protection extended in Sukinda Chromite Block litigation
Tata Steel is facing litigation regarding its Sukinda Chromite Block. The Hon'ble High Court of Orissa has extended the interim protection granted in two writ petitions. Writ Petition (Civil) No. 22431 of 2025 relates to a demand of ₹1902,72,53,760. Writ Petition (Civil) No. 31035 of 2025 concerns a demand of ₹2410,89,66,881. The next hearing is scheduled for December 19, 2025.
Key Highlights
Demand Letter 1: ₹1902,72,53,760 related to Sukinda Chromite Block
Demand Letter 2: ₹2410,89,66,881 related to Chrome Ore dispatch shortfall
Interim protection extended until December 19, 2025
Writ Petition (Civil) No. 22431 of 2025 filed in Hon’ble High Court of Orissa at Cuttack
Writ Petition (Civil) No. 31035 of 2025 filed in Hon’ble High Court of Orissa at Cuttack
💼 Action for Investors
Investors should monitor the outcome of the litigation, as an unfavorable ruling could negatively impact Tata Steel's financials. Keep an eye on the hearing scheduled for December 19, 2025.
Zydus Lifesciences: Shareholders approve fundraising with 99.89% majority
Zydus Lifesciences Limited announced the results of its postal ballot, revealing that shareholders have approved the special resolution for fundraising activities and issuance of securities. A significant 99.89% of votes were cast in favor of the resolution, while only 0.11% voted against. The remote e-voting process was conducted as per the Companies Act, 2013, with the voting period concluding on December 12, 2025. This approval enables Zydus Lifesciences to proceed with its fundraising plans.
Key Highlights
99.89% of votes were in favor of the special resolution for fundraising.
0.11% of votes were against the special resolution.
Remote e-voting concluded on December 12, 2025.
1706 members voted in favor through remote e-voting.
923141736 votes were cast in favor of the resolution.
💼 Action for Investors
The approval for fundraising activities suggests potential growth opportunities for Zydus Lifesciences; investors should monitor the company's plans for utilizing these funds and their impact on future performance.
Ruby Mills Executes Settlement Agreement to Terminate Development Pact with Mindset Estates
The Ruby Mills Limited has finalized a binding Settlement Agreement with Mindset Estates Private Limited to terminate their existing Revenue Share Development Agreement. Mediated by a retired High Court Justice, the agreement resolves all financial obligations and asset allocations related to the cessation of the project. This settlement is considered full and final, ensuring no further claims can be made by either party. While the specific financial settlement amount was not disclosed in the filing, the resolution removes a significant legal and operational overhang regarding the company's real estate assets.
Key Highlights
Settlement Agreement executed on December 11, 2025, to formally terminate the Revenue Share Development Agreement.
Mediated by Hon’ble Justice Mr. Sharukh J. Kathawala (Retd.) to determine final amounts due for cessation.
The agreement covers all rights, obligations, and asset allocations, making it binding on both parties.
Constitutes a full and final settlement with no further claims subsisting outside the scope of the agreement.
Follows a previous intimation regarding this development matter dated January 03, 2025.
💼 Action for Investors
Investors should monitor for future disclosures regarding the specific financial impact of this settlement on the company's balance sheet. The resolution provides clarity on land assets, but the future strategy for these real estate holdings remains a key performance driver.
Erosmedia Board Meeting Outcome: Appointments, Resignation & Financial Results
Eros International Media Limited's board meeting on December 12, 2025, approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. Mr. Anand Shankar Kamtam and Mr. Vijay Gulab Chand were appointed as Additional Directors, subject to shareholder approval. Mr. Sagar Sadhwani resigned from his position as Non-executive Non-Independent Director, effective December 12, 2025. Investors should note the auditor's qualified conclusion regarding overdue trade receivables of ₹15,802 Lakhs from Eros Worldwide FZE and content advances of ₹1,01,601 Lakhs under SEBI scrutiny.
Key Highlights
Appointed Mr. Anand Shankar Kamtam as Additional Director (DIN: 02942810).
Appointed Mr. Vijay Gulab Chand as Additional Non-Executive Non-Independent Director (DIN: 11425232).
Mr. Sagar Sadhwani resigned as Non-Executive Non-Independent Director (DIN: 03559502) w.e.f. December 12, 2025.
Overdue trade receivables from group entities amount to ₹15,802 Lakhs from Eros Worldwide FZE.
Content advances include ₹1,01,601 Lakhs subject to SEBI scrutiny.
💼 Action for Investors
Investors should closely monitor the outcome of the RBI application regarding the overdue receivables and the SEBI investigation related to content advances. Review the full financial results and auditor's report for a complete understanding of the company's financial position.