Markets

Parmeshwar Metal Ltd Receives GST Order Confirming Tax Demand of Rs. 1.59 Crore Parmeshwar Metal Ltd, an ISO 9001:2015 Certified Company, announced that it received an order from the GST Authority, Gujarat, on April 15, 2026. The directive involves a confirmation of tax demand, along with applicable interest and penalties.The order was issued by the Deputy Commissioner of State Tax (Enforcement) Division- 03, Gandhinagar. The core issue detailed in the order pertains to alleged inadmissible Input Tax Credit (ITC) received by the company from suppliers who were either non-existent or tax defaulters.The tax demand confirmed under the Central Goods and Service Tax Act, 2017, and the Gujarat Goods and Service Tax Act, 2017, totals Rs...

United Heat Transfer Limited Receives Order from Kirloskar Pneumatic for ₹24,24,816 United Heat Transfer Limited, formerly known as United Heat Transfer Private Limited, has secured a purchase order for the manufacturing and supply of key industrial components from Kirloskar Pneumatic Company Limited. The order pertains to the supply of Suction Damper, Discharge Damper, and Cooler, to be installed at the company's domestic plant.The total approximate value of the contract amounts to Rs. 24,24,816/- (excluding tax). The transaction details confirm that the order is domestic and not considered a related party transaction.The contract, which involves the manufacturing and supply of equipment, specifies a delivery timeline, stating the...

TSE Engineering Merges into Triveni Turbines Africa, Simplifying South African Group Structure Triveni Turbine Limited has reported a significant structural update regarding its subsidiaries in South Africa. The Company announced that TSE Engineering (Pty) Ltd, a step-down wholly owned subsidiary, has merged into Triveni Turbines Africa (Pty) Ltd (TTAPL).The merger was approved by the Companies and Intellectual Property Commission, South Africa (CIPC), in a letter dated April 14, 2026. The merger was effective starting April 01, 2026. Following the scheme's effectiveness, TSE stands dissolved and has ceased to be a wholly owned subsidiary of Triveni Turbine Limited.The merger between the two step-down wholly owned subsidiaries...

Varun Beverages Acquires Stake in FPEL HR2 Energy for Captive Solar Power Varun Beverages Limited announced on April 15, 2026, that it has acquired a significant stake in FPEL HR2 Energy Private Limited. This strategic acquisition aims to secure solar power for the company's captive consumption needs.The company acquired a 29.99% shareholding in FPEL HR2 Energy Private Limited. FPEL HR2 Energy Private Limited operates as a special purpose vehicle engaged in generating and supplying solar power to consumers within the state of Haryana.The total expenditure for this acquisition of solar power for captive consumption was Rs. 1.58 Crore.The key details of the acquisition are as follows:DetailValueAcquiring CompanyVarun...

City Union Bank Opens Three New Branches, Reaches 959 Locations City Union Bank Ltd announced the opening of three new branches as of April 15, 2026. With this expansion, the bank now operates a total of 959 branches across various regions.The bank successfully opened locations in Rajasthan, Punjab, and Uttar Pradesh, expanding its physical footprint.The newly established branches are:Branch NameBranch No.CBS CodeAddressBarmer95700962Baan Mata Tower, 343411695, NH - 68, Near Chamunda Circle, Vishnu Colony, Barmelr - 344 001, RajasthanZirakpur95800963Ground Floor, SCO - 1, Defence Enclave, Patiala Road, Zirakpur - 140 603, PunjabLucknow - Mahanagar95900964B-332, Mahanagar, Lucknow -226 006, Uttar PradeshCUB Stock...

Omkar Speciality Chemicals Approves Record Date, Private Placement, and Key Management Appointments The Monitoring Committee of Omkar Speciality Chemicals Limited announced key resolutions following its meeting on April 15, 2026. The approvals cover the record date for share cancellation, the private placement of new equity shares, the sanctioning of a debt facility, and the appointment of new key managerial personnel (KMP).Share Structure and Financial Resolutions The Committee approved two major actions concerning the company’s share capital structure. First, the record date for the extinguishment or cancellation of shares, mandated by the National Company Law Tribunal (NCLT) order dated July 31, 2025, was fixed as April 29, 2026...

Axita Cotton Ltd. To Hold Board Meeting to Discuss Q4 Financial Results and Dividend Axita Cotton Ltd., a manufacturer and exporter of cotton, has scheduled a meeting of its Board of Directors for Monday, April 20, 2026. The meeting will take place at the Company’s Registered Office to consider and recommend several updated agenda items related to the financial performance of the quarter and the full fiscal year.The key agenda items set for discussion at the Board meeting include:Item No.Agenda Item1Audited (Standalone) Financial Results of the Company for the quarter and year ended on March 31, 20262Recommendation of Final Dividend, if any3Any other business with the permission of the ChairmanRegarding corporate...

Rubicon Research Acquires Arinna Lifesciences to Deepen Penetration into Indian CNS Market Rubicon Research Limited today announced the acquisition of an 85% equity ownership in Arinna Lifesciences Limited from its current shareholders, marking a strategic move to strengthen its presence in the Central Nervous System (CNS) formulations market in India.Arinna Lifesciences is a prominent domestic formulations company, specializing in drugs for conditions affecting the central nervous system. The company possesses a portfolio of over 60 brands in chronic therapies and benefits from an established distribution network comprising distributors, stockists, and retail pharmacies, serving more than 4,000 prescribers across India.The...

Indian Metals and Ferro Alloys Reports Status Update on Key Projects Indian Metals & Ferro Alloys Limited provided updates on the status of its key ongoing projects, detailing milestones for its Kalinganagar facilities and its Ethanol Project at Therubali.The company reported that the Greenfield Ferro Chrome Project in Kalinganagar, rated at 100,000 tpa (2 x 33 MVA), is nearing completion. Pre-commissioning activities are scheduled for the first furnace in June 2026, with the second furnace set to commence pre-commissioning in September 2026.In separate news, the strategic acquisition in Kalinganagar has been finalized, making all four furnaces operational across the site.The Ethanol Project located at Therubali reported a delay...

HDB Financial Services Announces Audited Results for FY 2026, Recommends Final Dividend and Boosted Borrowing Limit HDB Financial Services Limited announced its audited standalone financial results for the quarter and year ended March 31, 2026, on April 15, 2026. The Board of Directors, following review by the Audit Committee, approved the results and recommended a final dividend, alongside approving increased borrowing limits for the company.During the Board meeting held on April 15, 2026, the company announced that it recommends a final dividend of Rs. 2/- (Rupees Two Only) per equity share, based on a face value of Rs. 10 each, for the financial year ending March 31, 2026.Key Financial Highlights for FY 2026 The financial results...

Jeena Sikho Lifecare Ltd Secures NABH Accreditation for Noida Hospital Jeena Sikho Lifecare Limited has successfully received the National Accreditation Board for Hospitals & Healthcare Providers (NABH) Certificate of Accreditation for its Noida Hospital. This milestone confirms the facility's adherence to nationally recognized standards for quality healthcare delivery and operational excellence.The accreditation for the hospital, located at Plot No. 24, Block SB, Sector 117, Noida, Gautam Budh Nagar, Uttar Pradesh, India- 201301, covers Panchakarma services.The specific details of the accreditation are as follows:Accreditation ParameterDetailLocationPlot No. 24, Block SB, Sector 117, NoidaServices AccreditedPanchakarma...

Shree Krishna Paper Mills Enters Power Purchase Agreement for Solar Energy, Plans 26.5% Stake in RGPOPL Shree Krishna Paper Mills & Industries Ltd announced that its Board of Directors entered into a Power Purchase Agreement (PPA) for captive solar power supply. The agreement, executed on April 15, 2026, involves M/S Ratan Green Projects One Private Limited (RGPOPL) supplying solar power to the company as a captive user.The Board Meeting, held on April 15, 2026, solidified the arrangement with RGPOPL. Under the terms of the PPA, RGPOPL, acting as the Renewable Power Producer, will supply solar power to Shree Krishna Paper Mills & Industries Ltd.In addition to the PPA, the company confirmed it is in the process of finalizing a Share...

JK Cement Invests in Mehrauni Electro Power to Bolster Renewable Energy Strategy JK Cement Limited announced a strategic investment in Mehrauni Electro Power Private Limited (SPV) to strengthen its commitment to the renewable energy sector. The investment involves the acquisition of equity shares, positioning the company to capitalize on solar power generation projects.The company has subscribed to 21,00,000 equity shares of Mehrauni Electro Power Private Limited. These shares have a face value of Rs. 10/- per share, aggregating to Rs. 2,10,00,000 (Rupees Two Crore Ten Lakh only). This transaction grants JK Cement a 9.77% stake in the SPV.The investment was structured via a Share Subscription and Shareholders' Agreement (SSHA) and...

Cosco India Notes Revision of Minimum Wages in Haryana Effective April 1, 2026 Cosco (India) Limited has reported on the upward revision of minimum wages in the State of Haryana. The revision, implemented by the Haryana Government Labour Department, significantly increases the basic minimum rates of wages for various employments.The change was formalized through Haryana Government Notification No. 2/25/26-2 Lab, dated April 9, 2026. The new rates are effective from April 1, 2026. Management noted that the basic minimum rates of wages have been revised or increased by approximately 35% compared to the previous rates.Cosco (India) Limited maintains a factory and production unit in Gurugram, Haryana. Following the government...

Texel Industries Completes Allotment of Equity Shares Following Warrant Conversion On April 15, 2026, Texel Industries Ltd. announced that its Finance and Investment Committee approved the allotment of equity shares resulting from the conversion of warrants belonging to promoter Avani Shailesh Mehta.The committee approved the conversion of 1,75,000 Warrants into 1,75,000 equity shares. These shares were allotted to Avani Shailesh Mehta, who belongs to the Promoter Category, on a preferential basis. The shares were issued at an issue price of ₹38.25 each, which includes a premium of ₹28.25 each. The company received a balance amount aggregating to ₹50,20,312.50 for this conversion, representing 75% of the full value of the...

Sangam India Ltd Board to Meet on April 22, 2026, to Consider FY and Quarterly Results Sangam India Ltd announced that its Board of Directors is scheduled to meet on Wednesday, April 22, 2026, in Bhilwara. The meeting aims to consider and approve critical corporate items, including the audited financial results and dividend recommendations.During the board meeting, the company will review the Audited Financial Results for both Standalone and Consolidated formats for the quarter and the full financial year that concluded on March 31, 2026. Additionally, the board is set to recommend a dividend, if any, for the financial year 2025-26.In related financial disclosures, Sangam India Ltd also advised stakeholders regarding the trading...

India Ratings Revises Credit Watch on Kilburn Chemicals Limited Bank Loan Facilities Meghmani Organics Limited confirmed that the credit rating assigned to Kilburn Chemicals Limited, a subsidiary of the company, has undergone a positive revision by India Ratings & Research, a Fitch Group Company. The revision was formalized in a letter dated April 14, 2026.The rating watch placed on Kilburn Chemicals Limited's bank loan facilities was upgraded from Negative Implications to Positive Implications.India Ratings & Research provided specific details regarding the instruments under review. The facility being rated is the Bank loan facilities, which carries an issue size of INR2,742 million.The revised rating watch status is summarized...

ACS Technologies Secures Work Order from Kernex Microsystems for Train Safety Systems ACS Technologies Limited has announced the receipt of a strategic work order from Kernex Microsystems (India) Limited. This engagement is focused on providing Train Collision Avoidance Systems services, which are critical components of the ongoing Kavach initiative for railway safety in India. The contract marks a significant business development for ACS Technologies, reinforcing its role in supplying vital electronic components for advanced train protection and collision avoidance systems.The work order, originating from a domestic entity, specifies the provision of TCAS PCB's services. This engagement details ACS's continued expertise in meeting...

Oscar Global Ltd Approves Extension of Managing Director Karan Kanika Verma's Tenure Oscar Global Ltd announced that its Board of Directors has approved the extension of the tenure of Mr. Karan Kanika Verma, managing director of the company. This decision followed a circular resolution passed by the Board on April 10, 2026.Mr. Karan Kanika Verma had previously submitted his resignation as a director via a letter dated April 04, 2026, with the resignation taking effect from April 10, 2026. However, after considering a request made by Mr. Verma and acting in the perceived interest of the company, the Board opted to extend his tenure for an additional 20 days.The extension allows Mr. Verma to continue serving up to the close of...

Samhi Hotels Acquires Lease for Proposed 162-Room Upscale Hotel in Noida Mixed-Use Development Samhi Hotels Ltd's wholly owned subsidiary, SAMHI Skyline Private Limited, has executed a long-term lease/sub-lease agreement for a proposed upscale hotel in Noida, Uttar Pradesh. The agreement was finalized on 15 April 2026.The agreement was reached with INGKA Centres India Private Limited, a part of the Ingka Group. The lease covers the development of a hotel that will form part of a larger mixed-use development project.The planned complex is located at E-01, Sector-51, Noida, Gautambuddha Nagar, Uttar Pradesh, 201301, India. This mixed development is scheduled to include commercial, hospitality, office space, and other ancillary...