Markets

Ashika Credit Capital Ltd. Acquires Preference Shares in Subsidiary Ashika Credit Capital Limited announced today, March 24, 2026, that it has acquired 20,00,000 Optionally Convertible Redeemable Preference Shares (OCRPS) of Rs. 10 each in Ashika Private Equity Advisors Private Limited, a subsidiary of the company. The total consideration for the acquisition was Rs. 2,00,00,000.Ashika Private Equity Advisors Private Limited (APEAPL), incorporated on April 7, 2017, operates in the finance industry as an Alternative Investment Fund (AIF). It is registered with the Securities and Exchange Board of India (SEBI) as a Category II AIF with registration number IN/AIF2/25-26/1927. APEAPL's turnover for the financial years 2022-23, 2023-24, and...

Sun Retail Ltd. Appoints Additional Director and Reconstitutes Committees Sun Retail Ltd. announced the appointment of Rajesh Chinubhai Sutaria as an Additional Non-Executive Non-Independent Director, effective March 24, 2026, pending shareholder approval. The decision, recommended by the Nomination and Remuneration Committee, was made during a Board meeting held on March 24, 2026.Following the change in Board composition, Sun Retail Ltd. has also reconstituted its key committees, effective March 21, 2026.Audit Committee:NameDesignationMrs. Nisha ParmarChairpersonMr. Rajesh Chinubhai SutariaMemberMr. Rajat Raja KothariMemberNomination and Remuneration Committee:NameDesignationMrs. Nisha ParmarChairperson...

Larsen & Toubro Amalgamates Subsidiaries, Effective March 24, 2026 Larsen & Toubro Ltd. announced the amalgamation of SiliConch Systems Private Limited (SSPL) with L&T Semiconductor Technologies Limited, a wholly-owned subsidiary, effective March 24, 2026. The amalgamation was approved by the Regional Director, Western Region, Ministry of Corporate Affairs, on March 13, 2026. The Appointed Date for the scheme is August 10, 2025.SSPL was a wholly-owned subsidiary of L&T Semiconductor Technologies Limited and a step-down subsidiary of Larsen & Toubro Ltd. Following the amalgamation, SSPL has ceased to be a step-down subsidiary of the company. The certified copy of the order approving the amalgamation has been filed with the Registrar of...

Bharat Petroleum Corporation Limited Commissions 2G Bioethanol Refinery in Bargarh Bharat Petroleum Corporation Limited (BPCL) has successfully commissioned its Second-Generation (2G) Bioethanol Refinery at Bargarh, according to a social media announcement. The facility utilizes rice straw as a feedstock, producing 100 kiloliters per day of fuel-grade bioethanol through advanced lignocellulosic technology, pretreatment, and fermentation processes.The plant is designed as a Zero Liquid Discharge (ZLD) facility, emphasizing efficient resource use and environmental stewardship. This development supports India's E20 Ethanol Blending Programme and National Biofuels Policy, contributing to emissions reduction and promoting a circular...

Osel Devices Limited to Acquire 90.69% Stake in SFL Hearing Solutions Private Limited Osel Devices Limited announced on March 24, 2026, that its subsidiary, Osel Healthcare Private Limited, has entered into a Share Purchase Agreement to acquire 90.69% of the equity share capital of SFL Hearing Solutions Private Limited. The transaction is subject to fulfilling the terms and conditions outlined in the agreement.Upon completion, SFL Hearing Solutions Private Limited will become a subsidiary of Osel Healthcare Private Limited and a step-down subsidiary of Osel Devices Limited. The consideration for the acquisition is an amount of Rs. 30 Crore.The Share Purchase Agreement grants rights including board nomination rights, affirmative...

BPCL and Sembcorp JV (NeuEn Green Energy) Secures 10KTPA Green Hydrogen Contract from Numaligarh Refinery New Delhi, March 24, 2026: Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and a Maharatna PSU, announced that NeuEN Green Energy Pvt. Ltd. secured a contract to supply 10,000 tonnes per annum (10KTPA) of green hydrogen to Numaligarh Refinery Ltd. (NRL).NeuEN Green Energy Pvt. Ltd., a 50:50 joint venture between Bharat Petroleum Corporation Limited (BPCL) and Sembcorp Green Hydrogen India Private Limited, is focused on renewable energy and large-scale green hydrogen development. The project, which achieved a competitive rate, will develop a 10KTPA green hydrogen production facility at NRL’s refinery in...

The New India Assurance Faces Income Tax Assessment Order for AY 2023-24 The New India Assurance Company Ltd. announced that the Income Tax Department has issued an assessment order for Assessment Year 2023-24. The order, passed under section 143(3), details disallowances of certain expenses.The total amount of the assessment order is ₹9,37,08,470.According to a filing, the company intends to appeal the order through the National Faceless Appeal Centre (NFAC) or other legal avenues. The matter will be reflected as a contingent liability in the company’s financial statements.Details of the Assessment Order The following table summarizes key details of the assessment order:DescriptionAmount (₹)Assessment Order...

Metal Coatings India Ltd. Appoints Yash Khandelwal as Chief Growth Officer Metal Coatings India Ltd. announced the promotion of Yash Khandelwal to Chief Growth Officer, effective March 24, 2026. The decision, recommended by the Nomination and Remuneration Committee, was approved by the Board of Directors at a meeting held on March 24, 2026.Khandelwal's appointment is intended to leverage his experience in business growth, revenue generation, and market expansion. He holds a Bachelor of Technology degree from the Birla Institute of Technology and Science, Pilani.Key Details of Appointment:ParticularsDetailReason for AppointmentPromotion to Chief Growth OfficerDate of AppointmentMarch 24, 2026Brief ProfileDemonstrated...

Diensten Tech Limited Transfers Customer Contracts from Subsidiary Diensten Tech Limited announced on March 24, 2026, that its Board of Directors approved the transfer of certain customer contracts from its wholly-owned subsidiary, Ushta Te Consultancy Services LLP, to the company.The transaction, which is considered a related-party transaction at arm’s length, aims to consolidate business operations and enhance operational efficiency. According to company disclosures, the transaction covers substantially all customer contracts of Ushta Te Consultancy Services LLP. This transfer results in a significantly reduced operational footprint for the subsidiary.The transfer is being undertaken without consideration, and the size of the...

GV Films Ltd. Announces Board Meeting and Personnel Changes GV Films Ltd. announced that a meeting of its Board of Directors is scheduled for Friday, March 27, 2026, at 4:30 p.m. at the company's registered office in Mumbai.The board will consider and approve the resignation of Non-Executive Director Mr. Gunaseelan, whose Director Identification Number (DIN) is 08844406. Additionally, the board will consider and approve the appointment of Mr. Viswanathan Sridhar as the Company Secretary. The meeting may also address any other business with the board's permission.BALAGIRI VETHAGIRI, CEO & Managing Director with DIN 01735497, made the announcement. GV Films Limited’s script code is 523277 and its script ID is GVFILM. The company is...

Unifinz Capital India Ltd. to Consider Interim Dividend and NCD Limit Revision Unifinz Capital India Ltd. announced a meeting of its Board of Directors is scheduled for March 28, 2026. Key agenda items include consideration and potential declaration of an interim dividend for the financial year 2025-26, and a proposal to revise or enhance the umbrella limit for issuing Non-Convertible Debentures (NCDs) on a private placement basis. This revision is subject to shareholder approval and other necessary approvals.The company has designated April 6, 2026, as the record date for determining eligibility for the interim dividend, should it be declared.Trading window for securities of the company will remain closed for designated persons and...

Magellanic Cloud Ltd. to Invest in Subsidiary’s Rights Issue Magellanic Cloud Ltd. announced on March 24, 2026, that its Board of Directors has approved participation in a rights issue by Scandron Private Limited, a subsidiary of the company. The investment will involve subscribing to up to 56,00,000 equity shares with a face value of ₹10 each, at an issue price of ₹100 per share.The total investment amount is capped at ₹56,00,00,000. The specific number of shares and the final investment amount will be determined at the time of subscription, based on commercial considerations and acceptance of the rights issue.The Board meeting commenced at 3:00 P.M. and concluded at 3:43 P.M.Source:

MIC Electronics Ltd. to Acquire Stakes in Neo Semi and Refit Global, Plans Divisional Transfer MIC Electronics Limited announced on March 24, 2026, that its Board of Directors will meet on March 30, 2026, to consider several strategic acquisitions and operational changes.The company intends to acquire 89.65% of the paid-up share capital of Neo Semi SG Pte. Ltd., Singapore, representing 71,72,090 equity shares valued at USD 1 each. This acquisition will be accompanied by a preferential issue of equity shares to the Neo Semi selling shareholders on a non-cash basis, structured as a share swap.Additionally, MIC Electronics is pursuing the acquisition of 43.05% of Refit Global Private Limited, which equals 43,274 equity shares with a...

Trom Industries Limited Receives Purchase Order from Iskcon Metals Trom Industries Limited announced that it has received a purchase order from Iskcon Metals for the supply and design, installation, testing, and commissioning of a 650 KW solar power plant. The order, valued at INR 1,69,88,400.00 inclusive of GST, is expected to be completed within one year.The contract involves the supply of Solar Photovoltic (SPV) Based grid interactive solar power plant along with its design, installation, testing, and commissioning. Iskcon Metals is a domestic entity.According to the company, neither the promoter group nor any group companies have an interest in Iskcon Metals, and the transaction is not considered a related party transaction...

Konstelec Engineers Limited Seeks Strike-Off of Associate Company Konstelec Engineers Limited announced on March 24, 2026, that its associate company, Konstelec Hitech Engineers Private Limited, has filed an application with the Registrar of Companies to have its name struck off from the records.Konstelec Hitech Engineers Private Limited (CIN: U31908MH2010PTC199051) reported revenue from operations of Nil, representing 0% of Konstelec Engineers Limited’s total revenue, and a net worth of Rs. 4,06,270, which is insignificant to the total net worth of Konstelec Engineers Limited as of March 31, 2025.The application was filed on March 21, 2026. The strike-off process is expected to be completed within six months, subject to approvals...

Waaree Energies Ltd. Approves Stake Acquisition and Announces Capex for Glass Manufacturing Plant Waaree Energies Ltd. announced on March 24, 2026, that its Board of Directors approved the acquisition of an additional equity stake in its subsidiary, Waaree Transpower Private Limited (formerly Kotsons Private Limited). The company will increase its ownership from 64.04% to 75.10% through a cash consideration.The Board also approved a capital expenditure of Rs. 3900 crores for a glass manufacturing plant within its wholly-owned subsidiary, Waaree Green Glass Private Limited. The plant will have a capacity of 2500 TPD, and the investment will be funded through a mix of debt and internal accruals.The acquisition of Waaree Transpower...

Swastik Pipe Limited Settles Loan with Vivriti Capital Limited Swastik Pipe Limited announced that it has completed a One-Time Settlement (OTS) with Vivriti Capital Limited for a loan account. The company has made the payment and settled the outstanding dues.Following the settlement, Vivriti Capital Limited issued a no-dues certificate confirming the completion of the loan. The outstanding loan amount was Rs. 8,00,00,000.Swastik Pipe Limited is continuing discussions with other lenders to pursue OTS or restructuring on a bilateral basis.No-Dues Certificate DetailsBorrower: Swastik Pipe Limited Lender: Vivriti Capital Limited (formerly Vivriti Capital Private Limited) Facility Amount: Rs. 8,00,00,000 Sanction Letter Date: August...

Caprihans India Ltd. Allots Equity Shares Upon Warrant Conversion Caprihans India Ltd. announced the allotment of 3,30,000 equity shares to Bilcare Limited, the company’s promoter, following the conversion of an equal number of warrants. The allotment was approved through resolution by circulation by the Board of Directors on March 24, 2026.The company had previously issued convertible warrants to Bilcare Limited on a preferential basis, with shareholder approval secured in November 2024. Bilcare exercised its right to convert the warrants by paying the balance 75% of the warrant price, amounting to Rs. 4,95,00,000.The equity shares were issued at a face value of Rs. 10 per share, with a premium of Rs. 190 per share, resulting in a...

Prakash Steelage Ltd. Faces ₹49.29 Crore Tax Demand Mumbai – March 24, 2026 – Prakash Steelage Ltd. announced today that the Income Tax Department, Faceless Assessment Unit, has issued an assessment order under Section 143(3) read with 1448 of the Income Tax Act, 1961, resulting in a tax demand order under Section 156. The order pertains to a scrutiny assessment for Assessment Year (AY) 2024-25 (Financial Year 2023-24).The tax demand, including applicable interest, amounts to ₹49.29 crore and stems from disallowances of certain expenditure/deductions (reversal of provisions) claimed.The company is in the process of filing an appeal before Higher Appellate Forums against the order, guided by its Chartered Accountant and tax...

WPIL Ltd. Announces Sale of Australian Subsidiary Sterling Pumps Pty Limited WPIL Ltd. announced March 24, 2026, that its Board of Directors has approved the sale of the company’s entire shareholding in its Australian subsidiary, Sterling Pumps Pty Limited (SPPL). The agreement was finalized on March 24, 2026, with completion expected by March 31, 2026.The buyer is Aturia International Pte. Ltd., a Singapore-based subsidiary and Special Purpose Vehicle (SPV) of WPIL Ltd. Following the sale, SPPL will remain a step-down subsidiary of WPIL Ltd. The transaction qualifies as a related-party transaction and is occurring on an arm's length basis.The consideration for the sale of 100% of WPIL’s shareholding in SPPL is AUD 2.34 million...