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Author: Sutun Nayak

  • Aditya Ultra Steel Bags 4,545-Tonne Order Worth INR 20 Cr from Distributor Network During Diwali Period

    Aditya Ultra Steel Bags 4,545-Tonne Order Worth INR 20 Cr from Distributor Network During Diwali Period

    Rajkot (Gujarat) [India], October 23:Aditya Ultra Steel Limited, (NSE Code: AUSL), a Gujarat-based manufacturer of high-quality TMT bars catering to the construction and infrastructure sectors, announced that it has booked cumulative orders of 4,545 tonnes from its distributors during the Diwali period. The total order value stands at approximately ₹20 Cr.

    The orders were received across the company’s established network of distributors and dealers, marking a significant festive season milestone and reinforcing its strong market presence within Gujarat’s construction and infrastructure sectors.

    The company has built a strong foothold in the Saurashtra and Kutch regions, particularly in Tier 2 and Tier 3 markets. Its growth is supported by dealer incentive schemes and engagement programmes designed to enhance channel participation and strengthen distribution reach.

    Aditya Ultra Steel leverages its in-house logistics infrastructure through a fleet of 26 company-owned trucks, enabling multi-location dispatches within 24 hours, even for small-volume orders. This operational advantage contributes to high dealer satisfaction and consistent reorder momentum.

    The company maintains over 85% utilisation of its installed capacity, supported by initiatives in furnace optimisation, automation, and process refinement that ensure product consistency and cost efficiency.

    The strong festive season order inflow contributes to Aditya Ultra Steel’s steady business momentum in FY26, further consolidating its position as a key supplier in Gujarat’s growing construction and infrastructure market.

    On the receipt of the order, Mr. Sunny Singh Chairman & Managing Director of Aditya Ultra Steel Limited said, “We are pleased with the strong order inflow of 4,545 tonnes during the Diwali period, reflecting the continued confidence of our distributor network and the growing demand for our high-quality TMT bars across Gujarat. This festive season performance underscores the success of our dealer engagement initiatives, efficient in-house logistics, and focus on consistent product quality.

    With our operational efficiency, sustainable manufacturing practices, we remain committed to strengthening our market position in Gujarat and neighbouring states. We will continue to leverage our regional footprint and customer-centric approach to support India’s evolving construction and infrastructure landscape.”

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  • Bhageria Industries Reports Stellar 83 Percent YoY Growth in Net Profit for H1 FY26

    Bhageria Industries Reports Stellar 83 Percent YoY Growth in Net Profit for H1 FY26

    Mumbai (Maharashtra) [India], October 23: Bhageria Industries Limited (BHAGERIA | NSE: INE354C01027), a diversified chemical manufacturer engaged in dyes, intermediates, specialty chemicals, and solar power generation catering to both domestic and export markets, has announced its Unaudited Q2 and H1 FY26 results.

    Key Financial Highlights

    Consolidated
    Particulars (₹ Cr) Q2 FY26 Q2 FY25 YoY H1 FY26 H1 FY25 YoY
    Total Income 206.02 132.41 55.59% 369.99 249.59 48.24%
    EBITDA 24.74 16.88 46.58% 48.91 33.11 47.72 %
    Net Profit 11.47 6.39 79.68% 22.36 12.20 83.28%
    Net Profit Margin % 5.57% 4.82% 75 Bps 6.04% 4.89% 116 Bps
    EPS (₹) (Diluted) 2.70 1.50 80% 5.28 2.86 84.62%

    Commenting on the Results, Mr. Suresh Bhageria, Chairman of Bhageria Industries Limited, said: 

     “We are delighted to report a strong performance for Q2 and H1 FY26, marked by healthy growth in revenue and profitability driven by operational efficiency and an improved product mix. The H-Acid capacity expansion and the launch of plasticizers and ethoxylates are important strategic steps that will start contributing meaningfully in the coming quarters. With a reaffirmed credit rating, robust balance sheet, and steady demand outlook, we remain confident of maintaining our growth momentum and delivering sustained performance ahead.”

    Key Recent Business Highlights

    Credit Rating
    • CARE Ratings reaffirmed Bhageria Industries’ long-term and short-term bank facilities at CARE A; Stable / CARE A1 for a total amount of ₹91 crore.
    Capacity Expansion
    • Expanding H-Acid capacity from 400 MT/M to 500 MT/M at Tarapur, expected to add ₹50–55 crore in annual revenue.
    Product Launch
    • Commenced production of Plasticizers & Ethoxylates at Tarapur, marking Bhageria’s entry into polymer additives for PVC, cable, flooring, footwear and automotive component use.

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  • PVL 2025 Season 4 (Match 34): Mumbai Meteors beat Bengaluru Torpedoes to claim top spot in the table

    PVL 2025 Season 4 (Match 34): Mumbai Meteors beat Bengaluru Torpedoes to claim top spot in the table

    Hyderabad (Telangana) [India], October 23:  Mumbai Meteors defeated the Bengaluru Torpedoes 15-13, 15-13, 18-20, 15-10 in the RR Kabel Prime Volleyball League powered by Scapia at the Gachibowli Indoor Stadium, Hyderabad, on Wednesday, to claim the top spot in the points table. Shubham Chaudhary was named the Player of the Match.

    Having finished in the first position in the league stage, the Meteors will face off against the team that will finish in the fourth position in the first semi-final on Friday, 24th October 2025. The second-placed Bengaluru Torpedoes will play the Ahmedabad Defenders, who finished in the third position, in the second semi-final on the same day.

    The Meteors started well, with setter Om Lad running the play from the middle. Mathias Loftesnes and Shubham kept asking questions of Bengaluru with constant spikes. The presence of blockers Jishnu and Mujeeb improved the Torpedoes’ defence, but Shubham Chaudhary managed to find the right spot with his spikes, and the Meteors took an early lead.

    In Matt West’s absence, setter Sandeep did well to find Joel Benjamin on multiple occasions. But Mumbai’s Petter Ostvik remained alert and made solid blocks. Amit Gulia’s thunderous spikes tested the Torpedoes, and the Meteors took control.

    Penrose paired up with Mujeeb to help in Bengaluru’s defence. Amit kept up the pressure for Mumbai, but Bengaluru held their nerves and, with Penrose’s spike, pulled one set back.

    Service pressure from Karthik put pressure back on the Torpedoes. Ostvik kept making solid blocks in the middle. Om’s skilful slow serve surprised Penrose, and the Meteors extended their lead. The Meteors won the match with Loftesnes’ block to finish on top in the league stage.

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  • PVL 2025: Hyderabad Black Hawks stop Bengaluru Torpedoes’ unbeaten run, claim second straight win

    PVL 2025: Hyderabad Black Hawks stop Bengaluru Torpedoes’ unbeaten run, claim second straight win

    Hyderabad (Telangana) [India], October 23: Hyderabad Black Hawks stunned the Bengaluru Torpedoes in the RR Kabel Prime Volleyball League powered by Scapia at the Gachibowli Indoor Stadium, Hyderabad, on Saturday, winning the match 13–15, 15–10, 18–16, 14–16, 15–11. Deepu Venugopal was named the Player of the Match. With the win, the hosts reached the fifth position in the points table with 9 points from six games.

    Jalen Penrose became the target man for Bengaluru captain Matthew West at the start of play. Jishnu and Mujeeb made crucial blocks. Sahil’s super spike earned the Hawks a super point, cutting the deficit between the two teams. But Athul’s service error helped the Torpedoes get a set ahead.

    Joel Benjamin started finding his rhythm in attacks. With Sahil’s all-round display, Hyderabad kept the pressure up on the Torpedoes. Shikhar Singh’s presence added depth to Hyderabad’s defence. A risky super serve from Hyderabad paid dividends as Niyas blocked Penrose, much to the delight of the jam-packed home crowd.

    Preet Karan’s distribution was on point, helping Hyderabad maintain their momentum. A misfired shot from Sahil helped Bengaluru secure a super point. However, libero Deepu’s sensational defensive play made it hard for Penrose to find gaps, and Hyderabad took the lead.

    Vitor Yudi Yamamoto’s beautiful cross-body spikes earned the hosts crucial points. But West’s smart serve cost the Hawks a super point, and the Torpedoes managed to push the game into the fifth set with Jishnu’s super block against Sahil.

    Yudi used his power and clever acrobatic skills to keep the Hawks ahead in the decisive fifth set. Shikhar led a solid two-man block line that halted the Torpedoes on multiple occasions. Sethu’s service error cost Bengaluru an important super point, and Hyderabad scripted a thrilling 3–2 win.

    Speaking after the match, Abhishek Reddy Kankanala, Principal Owner of the Hyderabad Black Hawks, said, “Bengaluru were the table-toppers, and we knew this was going to be a test of character. The boys played fearless volleyball and proved that when it counts, Hyderabad always rises. I couldn’t be prouder of how they handled the pressure.”

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  • Jayesh Logistics Limited Announces IPO to Expand Integrated Logistics and Supply Chain Solutions Across India

    Jayesh Logistics Limited Announces IPO to Expand Integrated Logistics and Supply Chain Solutions Across India

    Mumbai (Maharashtra) [India], October 23: Jayesh Logistics Limited (“JLL”), an integrated logistics and supply chain management company headquartered in Kolkata, announces the launch of its Initial Public Offering (IPO) to raise up to ₹28.63 crore. The proceeds will be utilised to strengthen its owned fleet, expand warehousing and smart logistics infrastructure, and meet working capital requirements.

    The IPO opens for Anchor Investors on October 24, 2025 (Friday), with the Bid/Issue Period opening on October 27, 2025 (Monday) and closing on October 29, 2025 (Wednesday). The price band has been fixed at ₹116 to ₹122 per equity share with a lot size of 1,000 equity shares and in multiples of 1,000 thereafter.

    The equity shares are proposed to be listed on the Emerge platform of NSE, with a tentative listing date of November 03, 2025.

    Issue Structure and Details

    The offering comprises a Fresh Issue of 23,47,000 equity shares of face value ₹10 each, aggregating up to ₹28.63 crore. There is no Offer for Sale (OFS) component.

    Issue Type: 100% Book Built Issue

    Face Value: ₹10 per equity share

    Price Band: ₹116 – ₹122 per equity share

    Lot Size: 1,000 equity shares and in multiples of 1,000 thereafter

    Book Running Lead Manager: Indcap Advisors Private Limited

    Registrar to the Issue: KFin Technologies Limited

    Market Maker: Giriraj Stock Broking Private Limited

    Utilisation of IPO Proceeds

    The funds raised will be utilised for:

    • Funding the expenditure towards the purchase of side wall trailers
    • Funding the working capital requirements
    • General Corporate Purposes

    IPO Allotment & Investor Reservation

    • Not more than 50% of the Net Issue shall be allocated to Qualified Institutional Buyers (QIBs).
    • Not less than 15% of the Net Issue shall be available for Non-Institutional Investors (NIIs).
    • Not less than 35% of the Net Issue shall be reserved for Individual Investors (Retail).

    The basis of allotment is expected to be finalised on October 30, 2025, and the shares are expected to be credited to investors’ demat accounts shortly thereafter.

    Business & Key Highlights

    Founded in 2011, Jayesh Logistics Limited is a rapidly growing player in India’s logistics and supply chain management sector, offering freight transportation (road and rail), truck forwarding (TFN), customs clearance, loading and unloading, and heavy machinery on hire. The company serves over 200 clients across key industries, including iron and steel, cement, construction machinery, and infrastructure.

    With an owned fleet of 95 heavy material and cargo handling trucks, complemented by a vast network of third-party transporters, Jayesh Logistics ensures operational efficiency and reliability in freight movement. The company has strong operational dominance in Eastern India, especially in the Nepal logistics, and has been honoured with the Transporter of the Year Award by EXIM India Shipping Times for five consecutive years: 2019, 2020, 2023, 2024, and 2025.

    Strong Financial Growth:

    The Company delivered a strong performance, with Revenue from Operations of ₹2,519.72 Lakhs for Apr–June’25 and ₹11,188.21 Lakhs for FY25, EBITDA of ₹430.06 Lakhs and ₹1,692.97 Lakhs, and PAT of ₹201.92 Lakhs and ₹719.74 Lakhs respectively, reflecting healthy operational and financial growth.

    1. Pan-India Network: Operating through a mix of owned and leased fleets, the Company has logistics hubs across key locations including Durgapur, Haldia, Kolkata, and Siliguri, with operations extending across the India–Nepal and Nepal hinterland.
    2. Technology-Driven Efficiency: Advanced fleet management and tracking systems for real-time visibility, route optimisation, and enhanced delivery reliability.
    3. Experienced Promoter: Led by promoters Sanjay Kumar Kundaliya, Navita Kundaliya, Bishnu Kumar Bajaj, Rashmi Bajaj, Rishi Maheshwari, and RHMB India Pvt. Ltd., the management brings over a decade of experience in logistics and trade.
    4. Future-Focused Strategy: Expansion into multimodal transport solutions, integration of warehousing automation, and sustainable logistics practices.

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  • PVL 2025 Season 4 (Match 33): Kochi Blue Spikers end campaign with motivating 3–1 win over Ahmedabad Defenders

    PVL 2025 Season 4 (Match 33): Kochi Blue Spikers end campaign with motivating 3–1 win over Ahmedabad Defenders

    Hyderabad (Telangana) [India], October 23: Kochi Blue Spikers bowed out of the tournament with a solid win in the RR Kabel Prime Volleyball League powered by Scapia at the Gachibowli Indoor Stadium, Hyderabad on Tuesday, defeating Ahmedabad Defenders 15–13, 14–16, 17–15, 15–9. Erin Varghese was named the Player of the Match. The result did not affect Ahmedabad’s position in the table, as they are already through to the semi-finals.

    Ahmedabad started strong with Battur Batsuuri’s missile attacks. A super serve from Kochi’s Jasjodh Singh bridged the gap between the two teams. Jasjodh motivated the Spikers with a super block on Shon T. John. Tremendous defending from Amrinderpal Singh helped them take the first set.

    Erin’s ferocious serves caught Ahmedabad off guard in the second set, and the Spikers continued their momentum. Ahmedabad brought Nandhagopal and Akhin on the court, and the new formation reaped rewards. Akhin blocked Kochi’s relentless attack from the middle zone, and the Defenders levelled the score.

    A smart review helped the Defenders reclaim a crucial point. Tremendous defending from Jasjodh and Hemanth’s cross-body spikes helped Kochi regain momentum, and the tables turned once again. Nicolas Marechal played a key role on the back court in the third set as the Spikers took control of the game.

    Hemanth continued to put pressure on Ahmedabad’s defence with strong spikes. Unforced errors further posed problems for Ahmedabad. Libero Alan Ashique’s quickfire defensive moves helped save Kochi’s important points. Amrinderpal and Jasjodh kept dominating the middle zone, helping Kochi. The Spikers won the game with a faulty serve from Arshak Sinan.

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  • Mangalam Industrial Finance Limited Announces Rights Issue Opening on October 27, 2025

    Mangalam Industrial Finance Limited Announces Rights Issue Opening on October 27, 2025

    Mumbai (Maharashtra) [India], October 23: Mangalam Industrial Finance Limited (The Company, MIFL) is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, engaged in lending and investment activities, open its Rights Issue on Monday, October 27, 2025, aiming to raise ₹ 48.08 Crore.

    The issue size is 48,08,21,750 equity shares at a face value of ₹ 1 each with an Issue Price of ₹ 1 Per Share.

    Rights Issue details:

    ●Right Issue Price – ₹ 1 Each Share

    ●Right Issue Size – ₹ 48.08 Crore

    ●Right Entitlement – 1 Shares for every 2 shares held

    • Renunciation of RE – 27th Oct, 2025 – 31st Oct, 2025
    • Record Date – 23rd Sept, 2025
    • Rights Issue Closes – 07th Nov, 2025

    The net proceeds from the Rights Issue will be used to augment its capital base and provide funding requirements to expand its operational scale in relation to its NBFC activities.

    Mr. Venkata Ramana Revuru, Chairman & Managing Director of Mangalam Industrial Finance Limited expressed, “As we continue our journey of growth and innovation, our focus remains on delivering financial solutions that strengthen our customers and drive sustainable progress. Over the years, we have nurtured strong, long-term relationships built on trust, transparency, and consistent customer satisfaction. Our growing emphasis on electric vehicle financing, business and personal loans, and other lending solutions reflects our commitment to fostering sustainable development and contributing to India’s transition toward a cleaner and more resilient economy.

    The net proceeds from the Rights Issue will be utilized to enhance our financial capacity and meet the growing funding requirements of our expanding NBFC operations. This capital infusion will enable us to enhance our scale, diversify our lending portfolio, and reinforce our position as a trusted financial partner dedicated to sustainable and responsible growth”

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  • TFCIL Targets INR 2,000 Cr Disbursement In FY26; Expands Into Hospitality, Real Estate, And MSME Solar Financing

    TFCIL Targets INR 2,000 Cr Disbursement In FY26; Expands Into Hospitality, Real Estate, And MSME Solar Financing

    Mumbai (Maharashtra) [India], October 23: Tourism Finance Corporation of India Limited (TFCIL) Managing Director & CEO Anoop Bali announced a major strategic expansion in the company’s lending portfolio, focusing on hospitality, real estate, and MSME solar financing within the tourism ecosystem.

    Highlighting the company’s growth trajectory, Bali revealed that TFCIL is targeting ₹2,000 crore in disbursements for FY26, backed by robust demand in hotel and real estate funding. He noted that while hospitality remains TFCIL’s core vertical, exposure to the sector (currently ~65%) will gradually be diversified to around 50% by FY27 through increased participation in real estate and MSME lending.

    “As travel and tourism rebound, we see strong opportunities in financing hotel infrastructure and sustainable projects. Our MSME solar financing and proposed tourism-focused Alternative Investment Fund (AIF) will support green energy adoption and strengthen the tourism value chain,” said Bali.

    TFCIL’s solar lending strategy will target solar installations across hotels, resorts, and ancillary MSMEs such as restaurants and tourism services—tapping into drivers of sustainability and cost efficiency while broadening its asset mix.

    With urbanisation driving mixed-use real estate and work-from-office transitions, TFCIL is positioning itself as a key NBFC enabler for hospitality-led real estate and renewable infrastructure.

    Bali added that continuous asset-quality vigilance will remain a core priority as the company expands into new sectors, ensuring prudent credit assessment and NPA monitoring.

    “This pivot marks TFCIL’s evolution from a legacy tourism lender into a diversified financial institution supporting India’s broader infrastructure and MSME ecosystem,” he said.

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  • PVL 2025: Ahmedabad Defenders hand Mumbai Meteors their first defeat of the season

    PVL 2025: Ahmedabad Defenders hand Mumbai Meteors their first defeat of the season

    Hyderabad (Telangana) [India], October 23: Ahmedabad Defenders stunned the unbeaten Mumbai Meteors in the RR Kabel Prime Volleyball League powered by Scapia at the Gachibowli Indoor Stadium, Hyderabad, on Saturday, winning the match 12–15, 15–7, 15–12, 21–20. Nandhagopal was named the Player of the Match. With this win, Ahmedabad Defenders climbed to the second position in the table with 12 points in six games, while the Meteors slipped to the third position.

    Nandha started strongly for Ahmedabad, while Muthusamy Appavu set up attacks from the middle to utilise Abhinav’s strengths. The Meteors targeted small gaps in Zone 2 as Mathias Loftesnes managed to get a super serve. Petter Ostvik blocked Angamuthu twice, but service pressure from Dhruvil Shah kept the game levelled. A risky super serve paid dividends for the Meteors and got them a set ahead.

    Battur Batsuuri started the counterattack for Ahmedabad. Angamuthu started finding his rhythm and tested Mumbai’s defence. Nandha’s super spike earned Ahmedabad a super point, bringing the game to level pegging.

    Constant attacks from Batsuuri and Angamuthu allowed the Defenders to take hold of the game. Trailing behind, Mumbai brought in the veteran blocker Karthik, whose super serve immediately put the pressure back on Ahmedabad. Nikhil’s left-handed spike also added attacking flair to Mumbai.

    A tremendous service from Nandha brought Ahmedabad back into the lead in the thrilling fourth set. The game ended with Angamuthu blocking Loftesnes, and Ahmedabad registered a memorable win to get all three points.

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  • PVL 2025 Season 4 (Match 26) – PVL 2025: Chennai Blitz climb to top four in points table with 3-0 win over Delhi Toofans

    PVL 2025 Season 4 (Match 26) – PVL 2025: Chennai Blitz climb to top four in points table with 3-0 win over Delhi Toofans

    Hyderabad (Telangana) [India], October 23: Chennai Blitz defeated last year’s runners-up, Delhi Toofans, 15-10, 15-10, 15-10 in the RR Kabel Prime Volleyball League powered by Scapia at the Gachibowli Indoor Stadium, Hyderabad, on Friday. Sameer Chaudhary was named the Player of the Match. With the win, the Chennai Blitz made their way into the top four with 9 points in 6 games.

    Tarun Gowda and Jerome Vinith started strong for Chennai Blitz, while Jesus Chourio’s all-round play kept the Toofans in play in the early stages. Luiz Perotto found a way to break through Delhi’s defensive wall. Blocker Suraj Chaudhary’s smart play from the middle helped the Blitz take an early lead.

    Delhi libero Anand kept his side in the game with his acrobatic exploits. Setter Sameer continued his form with his passing, keeping options in the attack to put pressure on the Toofans. Azizbek Kuchkorov’s presence on the court boosted Chennai’s attacking prowess, and the Blitz took control of the game.

    Exploiting Delhi’s weakness in the middle zone, Sameer kept setting up Suraj for pipe attacks as the Blitz consolidated their lead. Despite not using much power, Jerome still managed to find tiny gaps in Delhi’s defence to earn crucial points. A risky super point call paid dividends for Chennai, and Tarun won the match for the Blitz with a super serve.

    The CEO of Chennai Blitz, Kiran Kumar, was joyous about his team’s prospects this season. “Jerome is a brilliant athlete and will lead the team all the way to the championship,” remarked Hanimi Reddy, Chennai Blitz Co-owner.

    The Blitz’s decision to bring in Jerome Vinith at the highest auction bid price is paying off well for the franchise, which is yet to qualify for the playoffs/semi-finals in the Prime League after having won the Pro Volleyball League edition back in 2019.

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