SRFICICIBANK+9
Nine tax notices in one evening: ₹825 crore proposed, but each company's own notice is a sliver of its own market value — 0.02% for ICICI Bank, 4.6% for Yatra
GST · show-cause notice · Section 73
ResearchDeep dive7 minMetals & Mining
Research Reports
Latest coverage
Yesterday
Thu, 1 Oct
RMLRANE (MADRAS) LTD.
Rane (Madras) completes its ₹361.18 Cr Velachery land sale — consideration near a tenth of market cap
land sale · asset monetisation · auto components
ResearchDeep dive4 minAutomobile
GSPLTRANSGSPL Transmission Ltd
GSPL Transmission lists, completing the GSPC demerger — with ₹1,800 crore of expansion already awarded
demerger listing · gas transmission · pipelines
Research4 minEnergy & Oil/Gas
SEPCSEPC Ltd
SEPC's ₹149.5 Cr court dispute settled with no cash outflow; attachments on ₹154 Cr of receivables lifted
SEPC · Madras High Court · settlement
Research4 minIndustrials & Infra
RELINFRARELIANCE INFRASTRUCTURE LTD.
Reliance Infra's metro JV faces a ~USD 182 million IBC petition, and its July debt restructuring is revoked
reliance infrastructure · mumbai metro one · ibc
ResearchDeep dive6 minIndustrials & Infra
Wed, 30 Sept
SANOFISanofi India Ltd
Sanofi India: pre-disclosed ₹1,068 Cr inter-se transfer moves 15.2% from Hoechst to Sanofi Healthcare India
inter-se transfer · promoter shareholding · block deal
Research4 minPharma & Healthcare
KPIGREENKPI Green Energy Ltd
KPI Green signs a ₹2,410 crore binding offer for 507.9 MW of operating wind, a deal a third of its market cap
wind energy · acquisition · renewables
ResearchDeep dive5 minEnergy & Oil/Gas
AURUMAurum PropTech Ltd
Aurum PropTech completes EGM-approved allotment: 1.98 crore shares to REA India for 100% of Locon Solutions
preferential allotment · REA India · Locon Solutions
ResearchDeep dive5 minReal Estate
GANESHBEGANESH BENZOPLAST LTD.
Ganesh Benzoplast agrees to sell its storage and rail businesses for ₹1,154 Cr — more than its market cap
slump sale · liquid storage terminals · rail logistics
ResearchDeep dive5 minEnergy & Oil/Gas
Tue, 29 Sept
INDOBORAXINDO BORAX & CHEMICALS LTD.-$
Indo Borax completes its 64.26% Kronox purchase, and one listed company now controls another
Kronox Lab Sciences · acquisition · open offer
Research4 minMetals & Mining
AXISCADESAxiscades Technologies Ltd
Jupiter Capital sells 10.86% of Axiscades over two sessions; the stock closes at a 60-session high
AXISCADES · Jupiter Capital · promoter shareholding
Research4 minTechnology / IT
NATCOPHARMNATCO PHARMA LTD.
Natco Pharma's ₹1,279 Cr rights issue is final: 2 shares for every 21 at ₹750, record date October 1
rights issue · letter of offer · record date
Research4 minPharma & Healthcare
ANURASAnupam Rasayan India Ltd
Anupam Rasayan completes the Bliss GVS purchase: ₹299 a share for 48.2%, funded mostly by outside investors
Anupam Rasayan · Bliss GVS Pharma · acquisition
ResearchDeep dive6 minMetals & Mining
Mon, 28 Sept
RESTILERESTILE CERAMICS LTD.
Restile to buy 98.89% of Bell Granito; the share swap gives sellers 68.25% of the enlarged company
acquisition · preferential issue · share swap
Research5 minConsumer & Retail
KPILKALPATARU POWER TRANSMISSION LTD.
KPIL wins a UAE gas-pipeline EPC order it classifies above ₹4,000 crore — roughly a sixth of its market cap
order win · EPC · gas pipeline
Research4 minIndustrials & Infra
NMDCNMDC LTD.
NMDC commissions the ₹5,427 crore Bastar pellet chain, adding a value-added product to its iron ore business
NMDC · iron ore · pellet plant
ResearchDeep dive4 minMetals & Mining
ZEELEARNZEE LEARN LTD.
ACRE moves NCLT to begin insolvency proceedings against Zee Learn; the ≈₹821 Cr claim is 3.6× market cap
zee learn · acre · cirp
ResearchDeep dive5 minConsumer & Retail
Sat, 26 Sept
DELTACORPDELTA CORP LTD.
Delta Corp's GST orders total ₹153.54 crore — about 7.5% of market cap, before interest
GST · tax demand · casino
ResearchDeep dive4 min
ELECTHERMELECTROTHERM (INDIA) LTD.
ED attaches ₹25.08 Cr and 13.6 lakh promoter shares; Electrotherm's frozen bank balances now total ₹59.4 Cr
PMLA · Enforcement Directorate · provisional attachment
Research5 minMetals & Mining
COCHINMCOCHIN MINERALS & RUTILE LTD.-$
Kerala High Court stays Cochin Minerals' ₹120.26 Cr GST notice; the demand is paused, not decided
GST · show cause notice · HSN classification
Research4 minMetals & Mining
SIGNATURESURAJEST+1
Three developers, ₹8,000 crore-plus of estimated GDV in one afternoon — the land-to-launch cycle at work
real estate · land acquisition · development rights
ResearchDeep dive7 minReal Estate
25 Sept 2026
EDELWEISSEdelweiss Financial Services Ltd.
Carlyle's Nido deal, announced in February, closes: Edelweiss sells 45% for ₹580.68 crore, set to hold ~26% fully diluted
edelweiss · nido home finance · carlyle
ResearchDeep dive6 minFinancial Services
TEXINFRAZUARIIND
Zuari Industries buys 10.05% of Texmaco Infra from its own arm; promoter total stays at 66.55%
inter-se transfer · SAST disclosure · promoter shareholding
Research4 minReal Estate
BLUECLOUDSBlue Cloud Softech Solutions Ltd
Blue Cloud rallies 15.6% on a US$15.5 million IBM Cloud order; August's larger order pop had retraced
order win · AI infrastructure · IBM Cloud
ResearchDeep dive6 minTechnology / IT
GENESYSGENESYS INTERNATIONAL CORPORATION LTD.
Genesys wins a ₹283 Cr World Bank-funded Ahmedabad digital-twin contract — 86% of FY26 revenue in one order
geospatial · digital twin · GIS
ResearchDeep dive5 minTechnology / IT
24 Sept 2026
23 Sept 2026
SUGSLLOYDSugs Lloyd Ltd
Sugs Lloyd adds a ₹213 Cr Punjab RDSS subcontract, its third award this month, worth ~34% of market cap
order win · RDSS · power distribution
ResearchDeep dive5 minIndustrials & Infra
AEQUSAequs Ltd
Aequs promoter foundation pledges a 14.99% block days before a board meeting on warrants to the promoter
Aequs · promoter pledge · SAST disclosure
Research4 minIndustrials & Infra
PFOCUSPRIME FOCUS LTD.
Brahma AI raises $150 million at a $2 billion valuation; Prime Focus keeps c.66%, the stock ends 4.7% lower
Prime Focus · Brahma AI · DNEG
ResearchDeep dive6 min
IRBIRBINVIT
The pre-announced ₹4,605 Cr tollway transfer inside the IRB group is signed, closing targeted by Sept 30
IRB · IRB InvIT Fund · IRB Infrastructure Trust
Research5 minIndustrials & Infra