Investors are closely monitoring various stock-specific developments, including a major block deal involving Lenskart Solutions Ltd, along with infrastructure and shipbuilding order wins and contractual extensions for Deep Industries. Additionally, insolvency-related matters concerning Gala Global Products Ltd are of interest.
Market reports indicate that several existing investors plan to sell up to 70.2 million shares of Lenskart Solutions Ltd through a block deal scheduled for Friday, with the price set at ₹470 per share.
In notable corporate news, the Reserve Bank of India (RBI) has approved Kotak Mahindra Bank’s proposal to acquire up to 9.99 percent of South Indian Bank’s paid-up share capital or voting rights. This approval comes with conditions set under the Banking Regulation Act, 1949, RBI Directions, 2025, the Foreign Exchange Management Act, 1999, and applicable Securities and Exchange Board of India (SEBI) regulations.
PNC Infratech has been selected as the lowest bidder for a project by the Lucknow Development Authority in Uttar Pradesh. The project entails the construction of a four-lane flyover at the Shaheed Path intersection and was quoted at ₹194.40 crore.
Udupi Cochin Shipyard Limited (UCSL), a subsidiary of Cochin Shipyard Ltd, has secured a new order for the construction of three Azimuthing Stern Drive (ASD) tugs from Ocean Sparkle Ltd, an Adani Harbour Services Limited Company. This follows a previous contract for two ASD tugs, which were delivered ahead of schedule.
Deep Industries has announced a 30-month contract extension worth approximately ₹78 crore from Antelopus Selan Energy Limited for integrated drilling services, effective starting July 1, 2026. The contract aligns with standard business practices and does not involve any related-party interests.
Himatsingka Seide Ltd has provided an update on its transfer pricing litigation before the Income Tax Appellate Tribunal in Kolkata for the Assessment Year 2008-09. The Tribunal dismissed the appeal and removed additions of ₹6.90 crore, leading the company to plan an appeal to the Supreme Court after the Revenue’s request for condonation of delay was accepted by the High Court.
Finally, Gala Global Products Ltd has announced that its shareholders have approved the initiation of a Pre-Packaged Insolvency Resolution Process (PPIRP) under the Insolvency and Bankruptcy Code of 2016, with a strong backing of 97.29 percent for the special resolution.
Published on May 8, 2026.
