Shares of CARE were issued to Saluja through ESOPs, despite rejection from IRDAI (Insurance Regulatory and Development Authority of India) and no approval from the shareholders of REL was also taken for that, said InGovern in its report.

Quarterly expenses for the company, which also sells flashlights and lighting products like LED bulbs, fell 6% to 3.34 billion rupees, led by a nearly 15% decline in raw material costs.

The uptick in the stock prices comes after a period of consolidation seen from May 30 to August 18.

Midcap and Smallcap continued their outperformance during the recent corrective phase of the Nifty and therefore Nandish Shah of HDFC Securities expects their outperformance to continue for the coming weeks.

Commenting on the result, Managing Director Suvamoy Saha said: "It has been an endeavour to bring salience to under-indexed areas within batteries and flashlights and over here our teams have made good progress.

Nalwa Steel and Power and BTL EPC's resolution plans received an equal number of votes from creditors in the case of McNally Bharat Engineering, causing a rare tie situation in the bankruptcy proceedings. The winning bid was declared as BTL EPC, which offered INR 445.2 crore, compared to Nalwa's INR 426 crore.

Yes, in this space the technical textiles is one area which looks quite interesting. So, there are opportunities within that landscape which could be looked at because this is maybe a little bit more of a secular theme where more outsourcing comes out of India.