1material signals today 173IPOs 66buybacks 19OFSNSE · IST

Signals

01:33RCOMAction(s) taken or orders passedCritical
23:01PANACHEPress release dated October 23, 2026, titled "Press Release with respect to financial results for the quarter…
22:53RAYMONDRELPreferential allotment approvedMajor
22:53IDEAFORGETermination of Joint Venture Agreement between ideaForge Technology Inc.(wholly-owned subsidiary of ideaForge…
21:59SISHas informed that 3,28,540 equity shares of face value of Rs. 5/- each have been extinguished pursuant to the…Special Situation
21:57NETWORK18Merger announced
21:05NATCOPHARMApproval of allotment of 17058082 Equity shares pursuant to Rights Issue by the Fund-Raising Committee at its…
20:55TRUALTPress release dated October 23, 2026, titled "TruAlt Bioenergy Delivers Strong H1 FY27 Growth; Revenue rises…Major
20:48SETCOFinancial results for the period ended Jun 30, 2026Major
20:42OFSSPress release dated October 23, 2026, titled "Press release on the financial results for the quarter and half…Major
20:33ACMESOLARUpdate on commissioning of Battery Energy Storage System (BESS) Project at Rajasthan
20:32TRIVENIPTPress release dated October 23, 2026, titled "Press Release for Financial Results Q2 & H1 FY27"
20:28PANACHEAllotment of 160300 equity shares of Rs 10/- each pursuant to conversion of warrants on October 23, 2026
20:12KISSHTAllotment of 26493882 securities pursuant to Preferential Issue at its meeting held on October 23, 2026
20:05ASMSBoard of Directors at its meeting held on October 23, 2026, has decided to issue equity shares on rights…
19:56AEROENTERAcquisition announcedMajor
19:52CROMPTONAction(s) taken or orders passed
19:48TRENTBusiness divestment announced
19:40SHAKTIPUMPEarnings and operational update for the quarter and half year ended September 30, 2026
19:38UTIAMCFinancial results for the period ended September 30, 2026Major

Latest

Material developments from NSE, interpreted by CapitSignal.

Today

Friday, 25 September 2026

Today Yesterday 7 days

48Material events 2Business 15Capital 12M&A 1Governance 11Regulatory 4Distress

All Earnings

Sanofi India LimitedSANOFI22:38Low

Sanofi India receives GST show-cause notice over FY 2022-23 input tax credit

Regulatoryregulatory action

As filed

Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Receipt of Show Cause Notice from GST Authorities

Why it matters

CapitSignal interpretation

The notice creates a potential tax and interest exposure relating to FY 2022-23. Sanofi India stated that it does not envisage an adverse impact on its financials, operations or other activities from the notice.

What happened

Fact

Sanofi India received a show-cause notice from the Commercial Tax Officer (Audit)-6.1, DGSTO-6, Bengaluru, alleging excess input tax credit claims for April 2022 to March 2023. The notice proposes tax liability of Rs.14,43,01,828 and interest of Rs.9,30,74,679; the company is examining it and plans to respond within the prescribed period.

Rs.14,43,01,828Proposed tax liability
GST authority's proposed tax demand for alleged excess input tax credit for FY 2022-23
Rs.9,30,74,679Proposed interest
Interest proposed in the GST show-cause notice

Watch next

Fact

Sanofi India's response to the show-cause notice within the prescribed period
Any final GST order or revised tax, interest or penalty determination

Full analysis Company memory

HCL Infosystems LimitedHCL-INSYS20:13DeterioratingLow

CGST appeal order imposes ₹80.22 lakh penalty on HCL Infosystems

Regulatorylitigation

As filed

HCL Infosystems Limited has informed the Exchange about status update on Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Why it matters

CapitSignal interpretation

The appellate order adds a ₹80.22 Lakhs penalty to the previously confirmed tax demand. The eventual financial effect may depend on the company’s evaluation of, and any action under, available legal remedies.

What happened

Fact

The Additional Commissioner, CGST (Appeals), Noida partially allowed the Department’s appeal and imposed a penalty of ₹80.22 Lakhs on HCL Infosystems under Section 74(1) of the CGST Act, 2017. The original order had confirmed a ₹80.22 Lakhs tax demand while dropping interest and penalty; the company is evaluating legal remedies.

₹ 80.22 LakhsPenalty imposed
penalty imposed under Section 74(1) of the CGST Act, 2017
₹ 80.22 LakhsPreviously confirmed tax demand
tax demand confirmed in the Order-in-Original dated 01 February 2025

Watch next

Fact

Whether HCL Infosystems challenges the Order-in-Appeal
Outcome of any legal remedy pursued against the ₹80.22 Lakhs penalty

Full analysis Company memory

GOCL Corporation LimitedGOCLCORP18:19ImprovingNotable

NCLAT revives GOCL-HNPCL merger process, orders shareholder meeting steps

Regulatorylitigation

As filed

GOCL Corporation Limited has informed the Exchange about Order from National Company Law Appellate Tribunal dated September 25, 2026

Why it matters

CapitSignal interpretation

The appellate order removes the immediate procedural rejection of the proposed merger and allows the scheme to advance to shareholder and creditor consideration, as applicable. The merger remains subject to the subsequent NCLT-directed process and further orders.

What happened

Fact

NCLAT Chennai allowed GOCL Corporation and Hinduja National Power Corporation’s appeal, setting aside NCLT Amravati’s July 30, 2026 dismissal of their merger scheme application. NCLT must appoint the meeting chairperson and scrutinizers, fix remuneration, and prescribe a meeting schedule within one week of September 25, 2026 and no later than October 5, 2026.

October 5, 2026NCLT deadline for meeting directions
latest deadline set by NCLAT to appoint meeting officials and prescribe the meeting schedule
April 1, 2025Scheme appointed date
appointed date for the proposed merger by absorption of HNPCL into GOCL
June 22, 2026First-motion application filing date
date GOCL and HNPCL filed the scheme application before NCLT

Watch next

Fact

NCLT directions on the shareholder meeting schedule by October 5, 2026
Shareholder and creditor consideration of the merger scheme, as applicable
Further NCLT orders and GOCL disclosures as the scheme progresses

Full analysis Company memory

Sunteck Realty LimitedSUNTECK18:14MixedMinor

Sunteck Realty receives ₹59.44 crore GST show-cause notice over TDR purchases

Regulatorylitigation

As filed

Sunteck Realty Limited has informed the Exchange about intimation under Regulation 30 of the SEBI Listing Regulations.

Why it matters

CapitSignal interpretation

The notice creates a contingent tax dispute of ₹59.44 crore. Sunteck Realty says the transactions are outside the scope of GST, the notice uses twice the actual amount, and a detailed audit for the year had already concluded.

What happened

Fact

Sunteck Realty received a GST Form DRC-01 show-cause notice for FY 2022-23 alleging tax liability on procurement of Transferable Development Rights from the open market. The notice aggregates to ₹59,43,79,402, including interest and penalty; the company says it will contest the demand and expects no material financial impact.

₹59,43,79,402GST demand in show-cause notice
Aggregate alleged liability for FY 2022-23, including interest and penalty

Watch next

Fact

Sunteck Realty's reply to the Deputy Commissioner of State Tax, Mazgaon, Mumbai
Any adjudication or revised demand following the company's challenge
Whether the company discloses any provision, payment, or change in expected financial impact

Full analysis Company memory

NGL Fine-Chem LimitedNGLFINE17:24MixedMinor

NGL Fine-Chem faces ₹6.19 crore GST show-cause demand

Regulatoryregulatory action

As filed

NGL Fine-Chem Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2

Why it matters

CapitSignal interpretation

The notice creates a potential ₹6.19 crore tax exposure, though this is a proposed demand rather than a final liability. The outcome will depend on the company's reply and the GST proceedings.

What happened

Fact

NGL Fine-Chem received a GST show-cause notice for FY 2022-23 proposing a total demand of ₹6,18,61,905, including tax, interest and penalty. The company plans to submit a detailed response and attend a personal hearing on October 22, 2026; it says it has adequate grounds to support its position and does not currently expect a material impact.

₹ 6,18,61,905/-Proposed total GST demand
tax, interest and penalty proposed in the show-cause notice for FY 2022-23
₹ 3,04,36,444/-Proposed tax demand
tax component of proposed demand
₹ 2,66,42,312/-Proposed interest
interest component of proposed demand
₹ 47,83,149/-Proposed penalty
penalty component of proposed demand
₹ 18,31,000/-Alleged short IGST payment
difference between outward liability declared in GSTR-1 and tax paid in GSTR-3B/GSTR-9
₹ 2,86,05,444/-Alleged excess or ineligible input tax credit
input tax credit not confirmed or reflected in GSTR-2A/2B

Watch next

Fact

Company's detailed response to the GST notice
Personal hearing scheduled for October 22, 2026
Any final GST order or revision to the proposed demand

Full analysis Company memory

Everest Industries LimitedEVERESTIND16:37MixedMinor

Everest Industries receives ₹13.34 crore GST show-cause notice

Regulatoryregulatory action

As filed

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) read with Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(

Why it matters

CapitSignal interpretation

The notice creates a potential tax exposure of ₹13.34 crore, although no liability has been determined at this stage. The company says it has legal and factual grounds to defend the matter and does not expect a material financial impact.

What happened

Fact

Everest Industries received a GST show-cause notice for FY 2022-23 proposing recovery of ₹13,34,35,202. The notice cites alleged excess input-tax credit, differences between GST returns, and lower outward-tax discharge versus e-way bill liability.

₹13,34,35,202Total proposed GST demand
FY 2022-23 show-cause notice claim
₹7,32,16,851Tax component
component of proposed demand
₹5,28,96,667Interest component
component of proposed demand
₹73,21,684Penalty component
component of proposed demand

Watch next

Fact

Company's response to the show-cause notice
GST authority's decision on the proposed ₹13,34,35,202 demand
Any subsequent recognition of tax liability or cash outflow

Full analysis Company memory

Rane Holdings LimitedRANEHOLDIN14:57DeterioratingMinor

Rane subsidiary receives GST show-cause notices involving Rs.10.07 crore

Regulatoryregulatory action

As filed

This is to inform you that Rane Steering Systems Private Limited, Wholly Owned Subsidiary of the Company has received Show Cause Notice(s) from the Office of Assistant Commissioner (ST), Royapettah So

Why it matters

CapitSignal interpretation

The notices create a potential tax-related financial exposure for the wholly owned subsidiary, although the ultimate outcome remains subject to its response and the authority's decision.

What happened

Fact

Rane Steering Systems Private Limited, a wholly owned subsidiary of Rane Holdings, received show-cause notices under Section 73 of the CGST Act, 2017. The notices relate to alleged ineligible input tax credit claims under Section 17(5) for financial years 2022-23 and 2023-24; RSSL plans to submit a reply through its consultants or tax advisors within the prescribed timelines.

Rs.10.07 CroresExpected financial implication
amount stated in the show-cause notices, including penalty
Rs.0.92 CroresPenalty
penalty stated in the show-cause notices
Financial Year 2022-23 & 2023-24Applicable period
period covered by the notices

Watch next

Fact

RSSL's reply to the notices within the prescribed timelines
Any adjudication or revised financial implication from the tax authority

Full analysis Company memory

Fortis Healthcare Ltd.FORTIS13:51MixedMinor

Fortis promoter NTK appeals Tokyo court judgment against Daiichi Sankyo

Regulatorylitigation

As filed

Fortis Healthcare Limited has informed the Exchange about General Updates on material Litigation filed by Northern TK Venture Pte Ltd. ('NTK'), the Promoter Shareholder of the Company, against Daiichi

Why it matters

CapitSignal interpretation

The appeal extends a material litigation connected with IHH-NTK’s 2018 acquisition of Fortis. IHH maintains it suffered losses from delays in mandatory tender-offer approvals, though the filing does not state an amount or financial impact.

What happened

Fact

Northern TK Venture (NTK), Fortis Healthcare’s promoter shareholder and an indirect wholly owned subsidiary of IHH Healthcare, filed an appeal with the Tokyo High Court on September 24, 2026 against the Tokyo District Court judgment dated September 10, 2026. NTK said it concluded the judgment warrants appellate review and will continue to pursue its claimed rights through legal avenues.

Watch next

Fact

Tokyo High Court proceedings and any ruling on NTK’s appeal
Any disclosure of the claimed losses or financial implications for Fortis or its promoter shareholder
Further material litigation updates from Fortis or IHH

Full analysis Company memory

G R Infraprojects LimitedGRINFRA13:50Low

G R Infraprojects challenges Madhya Pradesh GST show-cause notice in High Court

Regulatoryregulatory action

As filed

G R Infraprojects Limited has informed the Exchange about Update on Show Cause Notice from GST Department.

Why it matters

CapitSignal interpretation

The writ petition begins a judicial challenge to the GST notice, but the filing does not disclose the amount involved, potential penalty, or financial impact.

What happened

Fact

G R Infraprojects has filed a writ petition before the High Court of Madhya Pradesh, Indore, against a show-cause notice dated 25th August 2026 from the Joint Commissioner of State Tax, Ratlam Division. The filing is an update to the company’s earlier disclosure dated 26th August 2026.

Watch next

Fact

High Court proceedings and any interim relief or order
Disclosure of the amount or financial exposure related to the GST notice
Any settlement or final resolution of the proceedings

Full analysis Company memory

Kalpataru LimitedKALPATARU12:47MixedLow

Kalpataru subsidiary receives ₹14.00 crore GST show-cause notice

Regulatoryregulatory action

As filed

Kalpataru Limited has informed the Exchange about show cause notice received from GST Department by the wholly-owned subsidiary Ananta Landmarks Private Limited

Why it matters

CapitSignal interpretation

The notice creates a potential tax exposure at a wholly owned subsidiary, although the company states it expects no material financial impact on its operations and that the subsidiary will contest it.

What happened

Fact

Wholly owned subsidiary Ananta Landmarks Private Limited received a GST show-cause notice dated September 24, 2026, proposing GST, interest and penalties aggregating to ₹14,00,00,892 for FY 2022-23. The notice relates to payments to a municipal corporation under reverse charge and disallowed input tax credit; ALPL intends to contest it and says it lacks merit.

₹14,00,00,892Proposed GST, interest and penalty demand
Aggregate amount in the GST show-cause notice
FY 2022-23Relevant financial year
Period underlying the reverse-charge and input-tax-credit issues

Watch next

Fact

ALPL's response to the GST show-cause notice
Any final GST demand, settlement, or outcome of the challenge
Any revision to the stated financial-impact assessment

Full analysis Company memory

LG Electronics India Ltd.LGEINDIA12:33DeterioratingNotable

LG Electronics India faces ₹153.58 crore customs-duty show-cause notice

Regulatorylitigation

As filed

LG Electronics India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Why it matters

CapitSignal interpretation

The proposed duty recovery could create a financial liability if the notice is adjudicated against the company. The company said the financial impact, if any, will be determined upon adjudication.

What happened

Fact

LG Electronics India received a September 22, 2026 show-cause notice following a Directorate of Revenue Intelligence investigation. The notice alleges that royalty payments were not included in the assessable value of certain imported goods and proposes recovery of ₹153,57,67,711 in customs duty. No penalty has been imposed at this stage; the company says it is reviewing the matter and plans to respond within the prescribed timeline.

₹153,57,67,711Proposed customs-duty recovery
Amount proposed for recovery in the show-cause notice

Watch next

Fact

The company's response to the customs authority
Adjudication of the show-cause notice
Any final duty, penalty, or other sanction imposed

Full analysis Company memory

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