Author: Sutun Nayak

Share in Rights Issue is offered at Rs. 5 per share as compared to current trading price of Rs. 12.2 per share

New Delhi [India], May 5: Gujarat Cotex Ltd (BSE – 514386), a diversified company across textiles, real estate, hospitality and agro commodity trading businesses plans to raise Rs. 42.73 crore from its Rights Issue to funds its expansion plans. The Rights Issue opened for subscription on April 10 and will close on May 08, 2026. The Rights Issue is priced at Rs. 5 per share, offering existing shareholders an opportunity to increase their equity in the company. Share price of company’s shares on May 5 is trading at Rs. 12.2 per share. The last date for On-Market Renunciation of REs is today, May 5, 2026.

The Rights Issue comprises 8,54,64,000 fully paid-up Equity Shares of face value Rs. 5 each, aggregating to Rs. 42.73 crore. Proceeds from the issue will be used to support company’s expansion plans and strengthen the company’s financial position. The Rights Issue is being offered in the entitlement ratio of 6:1 (6 rights shares for every 1 equity share held).

The company proposes to utilize the issue proceeds aggregating to Rs. 42.73 crore towards strategic growth and expansion initiatives. An amount of Rs. 9.60 crore will be deployed for the completion of its upcoming premium hotel project near Sarangpur Hanuman Mandir, comprising 55 rooms and 10 dormitory accommodations, aimed at catering to the rising demand for quality hospitality services in the region.

Further, Rs. 2.13 crore will be utilized for the purchase of a new registered office, strengthening the Company’s operational infrastructure. A significant portion of Rs. 19.30 crore is earmarked to meet the Company’s working capital requirements, supporting business scalability across its diversified segments. The remaining Rs. 10.68 crore will be allocated towards general corporate purposes, enabling overall business growth and operational flexibility.

For the nine months of financial year 2026 ended December 2025, company achieved revenue from operations of Rs. 29.86 crore, rise of 54.7% Y-o-Y as compared to the revenue of Rs. 19.30 crore in the corresponding period of FY 2024-25. Net profit also rose to Rs. 82.6 lakh for nine months of FY26 as against net profit of Rs. 45.96 lakh in the 9MFY25, a 79.7% Y-o-Y growth.

Founded in the year 1992 with textile manufacturing, Gujarat Cotex Ltd have strategically transitioned in 2016-17 to trading a wide range of grey and dyed polyester fabrics, serving power loom operators and industrial clients. Since 2007–08, company have expanded into real estate through the purchase and sale of plots, and are now foraying into hospitality with an upcoming venture. Company has recently entered agro-commodity trading with a strong focus on packed pulses to to serve institutional buyers, traders, and processing units.

Today, company has grown to a diversified enterprise operating across textiles, real estate, hospitality, and agro-commodity trading, driven by a strong commitment to quality, innovation, and sustainability. Company has a mission is to deliver high-quality products and services that meet evolving customer needs, contribute to community development, and uphold our core values of sustainability and innovation.

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Ahmedabad (Gujarat) [India], May 5: Empower India Limited (BSE – 504351, NSE – EMPOWER), a company traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), is pleased to announce the signing of a term sheet for the proposed acquisition of a majority stake in MABIL, a prominent UAE-based entity. 

The transaction is structured as a strategic cross-border acquisition to be executed through a share swap arrangement. This all-equity structure is designed to align the longterm interests of both entities, resulting in a unified ownership framework upon completion.

Strategic Rationale and Market Expansion

This acquisition marks a key international development for EIL, aimed at securing strategic market access in the Middle East. By integrating MABIL, which maintains an established operational presence in the United Arab Emirates, EIL intends to leverage the UAE’s position as a global commercial hub. 

The integration is expected to:

• Enhance EIL’s corporate structure through increased geographic presence. 
• Strengthen business connectivity across international markets. 
• Provide an established base within the Middle Eastern commercial ecosystem. 

Transaction Status and Next Steps

The transaction is currently in its preliminary stages. While the signing of the term sheet outlines the broad framework of the deal, the final acquisition remains subject to the negotiation of valuation and the execution of definitive documents. 

Both parties will now proceed with:

• Detailed due diligence. 
• Negotiation and execution of definitive agreements. 
• Fulfillment of regulatory and statutory requirements. 

Investor Information

Specific details regarding the transaction, including the share swap ratio and the quantum of shares, shall be intimated to the stock exchanges in due course as the transaction progresses.  About Empower India Limited Empower India Limited is a publicly traded company on the NSE and BSE. The company is currently focused on expanding its international footprint and strengthening its corporate structure through strategic global integrations.

Company recently announced that its equity shares have been admitted to trading and dealings on the National Stock Exchange of India (NSE), marking a significant milestone in the Company’s growth journey. The Company’s shares commenced trading on the NSE platform effective April 20, 2026, under the symbol “EMPOWER.”

The listing on NSE is expected to strengthen the Company’s market presence and improve liquidity for its shareholders, while also providing an efficient platform for price discovery. It further reflects the Company’s commitment to maintaining high standards of corporate governance, transparency, and regulatory compliance.

The Company remains focused on delivering sustainable growth, improving operational efficiencies, and capitalizing on emerging opportunities across its business segments. The NSE admission is expected to further support these objectives by facilitating enhanced access to capital markets and strengthening the Company’s financial flexibility.

Empower India Limited expressed its gratitude to its shareholders, regulatory authorities, and other stakeholders for their continued trust and support. The Company looks forward to leveraging this milestone as a platform for accelerated growth and long-term value creation. Company is committed to building a robust and scalable business model driven by innovation, operational excellence, and strong governance practices. The Company continues to focus on delivering consistent performance while creating value for all stakeholders.

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New Delhi [India], May 5: Lehar Footwears Limited (BSE – LEHAR | 532829 | INE976H01018), announced a major expansion of its manufacturing footprint with the addition of a new, large-scale facility in Kundli, Haryana, aimed at strengthening its presence in the fast-growing athleisure and sports footwear segment. The facility will focus on manufacturing sports shoes and related products, marking a significant step-up in the company’s capabilities and reinforcing its strategic shift toward higher-value product categories.

As part of this expansion, the company has signed a rent agreement for the proposed facility, which is expected to substantially scale up production capacity from approximately 1 lakh pairs per month to 5 lakh pairs per month in a phased manner. The facility is expected to commence commercial operations from Q2FY26 onwards, aligning with Lehar Footwear’s broader strategy to capitalize on rising demand in the sports and athleisure footwear market.

The new Kundli unit will be equipped with advanced manufacturing technologies for sports shoes and EVA-based footwear, enabling enhanced product quality, improved consistency, and higher operational efficiency. The facility is expected to support both the company’s in-house athleisure brand ‘Rannr ’as well as its OEM manufacturing vertical.

Key Highlights of the Kundli Facility:

• 5x Capacity Expansion – in phases: Scale-up from ~1 lakh to ~5 lakh pairs per month to meet rising demand
• Product Mix Improvement: Increased share of higher-value sports and athleisure footwear driving ASP and margin expansion
• OEM + Brand Synergy: Strengthening capabilities to serve OEM clients while scaling Rannr
• Strategic Location: Kundli offers strong connectivity to North Indian markets and logistics hubs
• Technology Upgrade: Introduction of modern machinery and processes for sports and EVA footwear manufacturing

Commenting on the development, Mr. Raj Kumar Agarwal, Managing Director of Lehar Footwears Limited, said: “The new capacity expansion marks an important step in our expansion journey. This project will enable us to build scalable, technology-enabled manufacturing capabilities aligned with evolving consumer demand in sports and athleisure footwear. We expect this to support our premiumisation strategy and strengthen our positioning across both branded and OEM segments”

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Vadeesh Budramane — Founder & CEO, AlgoShack Technologies

Bengaluru (Karnataka) [India], May 4: India’s enterprises are hemorrhaging thousands of crores every year due to broken software testing. AlgoShack Technologies, with its algoQA platform, is building the solution — and the results from real-world deployments are hard to ignore. 

India builds some of the world’s most sophisticated software. It also loses billions by testing it the wrong way.

Every year, Indian enterprises spend upwards of ₹50,000 crore on software development. Between 25 and 35 percent of that investment is quietly consumed by software testing – a function most boardrooms treat as a cost centre rather than a strategic imperative. The consequence is predictable and expensive: delayed product releases, compliance failures, production bugs that reach customers before they reach QA teams, and engineering talent burning out maintaining thousands of fragile, manually written test scripts that collapse every time an application is updated.

This is not a marginal problem. It is the operating reality for hundreds of Indian enterprises, from fintech platforms managing millions of daily transactions to medical device manufacturers whose software quality directly affects patient safety.

And it has been hiding in plain sight for two decades.

What Is AlgoShack Technologies —  And What Does algoQA Do?

AlgoShack Technologies is a Bengaluru-based AI product company founded in 2018 by Vadeesh Budramane, a product engineering veteran with 35 years of experience across healthcare, fintech, retail, and enterprise software. Its flagship platform, algoQA, is an AI-Augmented Autonomous Testing platform – classified as a 5th-generation test automation solution – that eliminates the need for manual test scripting.

Unlike conventional automation tools that require engineers to write, maintain, and debug scripts manually, algoQA, which leverages artificial intelligence and machine learning, automatically generates test cases, produces production-grade test scripts without manual coding, and self-heals as applications evolve. The result is a platform that not only accelerates automation but also enables autonomous testing at scale. 

AlgoShack Technologies is currently ranked 27th globally among more than 900 test automation companies by Tracxn. The company holds two patent applications published in April 2026, with four more in progress, and is ISO 9001:2015 certified with IEC 62304 and ISO 14971 attestations – credentials that make algoQA one of the very few platforms in India cleared for medical device software environments.

Why the Traditional Testing Model Is Failing Indian Enterprises

The core problem is architectural. Traditional QA was designed for quarterly release cycles. Applications were updated slowly, scripts were written once and maintained over months, and regression testing happened in planned windows before go-live.

That world no longer exists.

Enterprise applications today are updated weekly, often daily. Agile sprints compress delivery to two-week cycles. DevOps pipelines demand continuous integration and continuous deployment. In this environment, a testing model built on manual scripting is not merely slow – it is structurally incompatible with how modern software is built.

The data confirms the scale of the damage. Global research estimates that software bugs cost the world economy over $2.84 trillion annually. In India, QA teams spend up to 40 percent of their working time not on testing, but on maintaining tests already written – rewriting automation that breaks when applications change, chasing flaky scripts that produce inconsistent results, and managing regression suites that take days to execute when the business needs answers in hours.

This is not a people problem. Indian engineering talent is among the best in the world. It is a tooling problem – and it is costing enterprises not just money, but speed, compliance, and competitive position.

What AlgoShack’s algoQA Platform Delivers – In Numbers

AlgoShack Technologies has deployed algoQA across enterprise clients in Medical Devices, Banking and FinTech, Retail and Digital Commerce, and Enterprise Software. The performance data from those deployments is specific and verifiable.

Clients report up to an 80 percent reduction in testing and test maintenance costs, with testing cycle times also reduced by as much as 80 percent. Automation coverage exceeds 90 percent. In the medical device domain, algoQA has delivered up to a 10x return on investment.

The company has been recognised as the “Most Resilient Supplier in Delivery” by a leading global enterprise—one of the most rigorous validations a software company can receive. It has also been awarded the “Best Innovation Award” by a Fortune 50 medical devices company. Both recognitions come from global enterprises where software quality failures carry significant regulatory and patient safety implications.

AlgoShack Technologies has grown at 55 percent compound annual growth rate for four consecutive years – entirely bootstrapped, without a single rupee of external funding. The company employs 300 professionals, holds enterprise Net Promoter Scores of 94, and its algoQA platform is rated 4.9 out of 5 on G2 and 5 out of 5 on SoftwareSuggest.

The Market Problem AlgoShack Is Positioned to Own

India’s software testing market is not short of vendors. What it has been short of is a credible, AI-native, product-led platform that addresses the structural failures of the traditional model – not with more engineers, but with genuine automation.

Algoshack Technologies is that platform. With its IP in autonomous test generation, auto-healing, and AI-driven exploratory testing, algoQA represents a category that global competitors are racing to build and that AlgoShack already ships.

The ₹50,000 crore problem is not going away. The enterprises that embed AI-native quality engineering into their development lifecycle will outship, outscale, and out-comply those that continue patching broken manual processes with more headcount.

AlgoShack Technologies and algoQA represent a potential inflection point for India’s software industry—built, patented, and deployed from Bengaluru. 

AlgoShack Technologies is headquartered in Bengaluru, India. The company’s AI-Augmented Autonomous Testing platform, algoQA, is deployed by global enterprises across Medical Devices, Banking and FinTech, Retail, and Enterprise Software. Website: www.algoshack.com | Contact: info@algoshack.com

Mumbai (Maharashtra) [India], May 4: Harshdeep Hortico Limited (BSE: HARSHDEEP), specializing in the manufacture and export of pots, planters, garden accessories, and outdoor furniture; announced its Unaudited financials for H2 FY26.

Key H2 FY26 Financial Highlights

Key Financial Highlights (Consolidated) – H2 FY2025-26

• Revenue for H2 FY2025–26 was ₹36.07 crore, compared to ₹31.45 crore in H2 FY2024 – 25, reflecting a year-over-year growth of 15%.

• Profit Before Tax (PBT) for H2 FY2025–26 stood at ₹6.82 crore, up from ₹5.48 crore in H2 FY2024–25, marking a year-over-year increase of 25%.

• Profit After Tax (PAT) for H2 FY2025–26 was ₹6.82 crore versus ₹5.47 crore in H2 FY2024–25, indicating a year-over-year growth of 24.68%.

Harshdeep Hortico Limited demonstrated strong performance in H2 FY26, reflecting the company’s resilience, operational excellence, and strategic focus within the horticulture and outdoor lifestyle sector. Commenting on the results, Mr. Hitesh Shah, Director, stated that

The Company is pleased to announce that a dividend of ₹0.25 per equity share has been declared, reaffirming its commitment to delivering value to its shareholders. 

FY 2025-26 has been a defining year for Harshdeep Hortico We strengthened our leadership in the planter segment while making a bold entry into new categories like Agriculture shade nets, reinforcing our commitment to innovation-led growth. Our focus remained clear: better design, Advanced manufacturing, and premium positioning. From expanding our product range to enhancing our distribution and execution, every step this year has been aligned with long-term value creation. What excites us most is the foundation we are building one that combines scale with creativity, and consistency with ambition. As we move ahead, we remain committed to pushing boundaries and creating products that stand out not just in India, but globally.

Recently, the company has launched a new product category, Rotomoulded Decorative Water Fountains, on April 19, 2026, as part of its expansion and innovation strategy. The product falls under indoor and outdoor decorative and landscape solutions and will initially cater to the domestic market, with plans for international expansion. This first-of-its-kind rotomoulded segment in India has been developed through in-house design capabilities. The launch is expected to strengthen the company’s position in the decorative and landscape segment while enhancing product diversification. It is also anticipated to create new growth opportunities across domestic as well as export markets.

Milestone 2025-26:

Expanded into agriculture shade nets.

Strengthened dealer network across India

Expanded our Eco Series – sustainable products by design

Expanded our presence in the outdoor décor segment

Upgraded capacity & processes for scale and quality

Introduced India’s first roto moulded indoor and outdoor fountain range 

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