Markets

Mahindra Lifespace Developers Limited Launches ‘Mahindra Rainforest’ Residential Project Mahindra Lifespace Developers Limited announced on March 19, 2026, that its wholly-owned subsidiary, Anthurium Developers Limited, has launched a residential project named ‘Mahindra Rainforest’ located at LBS Marg, Kanjur, Mumbai.The project, registered with the Maharashtra Real Estate Regulatory Authority, has RERA registration numbers PM1181012502957 and PR1181012502956. Additional registration numbers for future phases will be obtained as they are launched. Details of the project are available on the Maharashtra Real Estate Regulatory Authority website at https://maharera.maharashtra.gov.in/.The project launch occurred on March 18, 2026, and...

Fenton Investments Acquires Shares in Ester Industries Limited Fenton Investments Private Limited announced the acquisition of 84,000 equity shares from Mr. Ayush Vardhan Singhania, a member of the Promoter Group, in Ester Industries Limited. The transaction, structured as an inter-se transfer, is expected to be completed within four working days from March 18, 2026.The acquisition, totaling 0.08% of Ester Industries Limited's paid-up capital, is exempt from an open offer requirement under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition price will not exceed the limits stipulated in Regulation 10(1)(a) of the SEBI Takeover Regulations. The volume weighted...

Religare Enterprises Subsidiary Faces Income Tax Demand Religare Enterprises Limited announced on March 18, 2026, that its material subsidiary, Care Health Insurance Limited (CHIL), has received two Orders dated March 17, 2026, under Sections 147 and 143(3) of the Income-tax Act, 1961, from the Office of the Assistant Commissioner of Income-Tax, Central Circle 6(2) Mumbai. These orders pertain to the Assessment Years 2023-24 and 2024-25, respectively, and raise a cumulative income tax demand of Rs. 140.20 Crores, including interest.CHIL maintains that the tax demand and applicable interest were incorrectly computed. The company is currently preparing to file a rectification application with the authority. CHIL estimates that the...

ArisInfra Solutions Limited Approves Amalgamation of ArisUnitern RE Solutions Private Limited Mumbai, March 18, 2026 – ArisInfra Solutions Limited (ARIS) announced today that its Committees and Board approved the amalgamation of ArisUnitern RE Solutions Private Limited, a subsidiary of ARIS, with the Company. The appointed date for the Scheme of Amalgamation is April 01, 2026.The amalgamation will become effective upon receipt of approvals from the National Company Law Tribunal (NCLT), and other regulatory and statutory authorities.BackgroundArisInfra Solutions Limited is a tech-enabled B2B company focused on simplifying the procurement of construction materials across India. ArisUnitern, a real estate service provider, is a...

Bharti Airtel Completes Conversion of Partly Paid-Up Equity Shares Bharti Airtel Limited announced the conversion of 391,176,994 partly paid-up equity shares into fully paid-up equity shares on March 18, 2026. The conversion follows the receipt of INR 156,959.77 million towards the First and Final Call of INR 401.25 per share.The Special Committee of Directors for Rights Issue authorized the conversion, which changes the shares’ ISIN from IN9397D01014 to INE397D01024. The converted shares will rank equally with existing fully paid-up equity shares and will be available for trading on the National Stock Exchange of India Limited and BSE Limited, pending completion of formalities and receipt of necessary approvals.Following the...

HDFC Bank Confirms Receipt of Atanu Chakraborty’s Resignation HDFC Bank Limited confirmed the receipt of Mr. Atanu Chakraborty’s resignation letter as Part-time Chairman and Independent Director. The resignation letter, dated March 17, 2026, was received by the bank on March 18, 2026, at 15:17 hours (IST). This follows an earlier intimation regarding Mr. Chakraborty’s resignation made on March 18, 2026.Source:

JBF Industries Resolution Plan Rejected by NCLT JBF Industries Limited, currently under the Corporate Insolvency Resolution Process (CIRP), announced on March 18, 2026, that the Resolution Professional’s submitted Resolution Plan has been rejected by the National Company Law Tribunal (NCLT), Ahmedabad Bench.The NCLT orally pronounced the order rejecting the plan under Section 31 of the Insolvency and Bankruptcy Code, 2016. The matter has been referred back to the Committee of Creditors (COC).Mr. Mukesh Verma, Resolution Professional (Registration No: IBBI/IPA-001/IP-P01665/2019-2020/12522), conveyed the information.Source:

Kirloskar Industries Limited Updates on Subsidiary's Scheme of Arrangement and Merger Kirloskar Industries Limited announced that Kirloskar Ferrous Industries Limited (KFIL), a material subsidiary, has received an order from the National Company Law Tribunal (NCLT) Mumbai on March 17, 2026, regarding a scheme of arrangement and merger. This scheme involves the absorption of Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL), both wholly-owned subsidiaries, with Kirloskar Ferrous Industries Limited.The NCLT order directs dispensation from holding meetings of equity shareholders of OEPL, AESPL and KFIL, as well as meetings of unsecured creditors of OEPL and AESPL, and creditors of KFIL. It also...

Orchid Pharma Limited Receives Reserve Order for Dhanuka Laboratories Merger Orchid Pharma Limited has received a reserved order from the National Company Law Tribunal (NCLT) regarding the scheme of amalgamation with Dhanuka Laboratories Limited. The order was reserved for pronouncement on March 18, 2026.The amalgamation involves Dhanuka Laboratories Limited and Orchid Pharma Limited, along with their respective shareholders and creditors.Orchid Pharma Limited will provide updates to the National Stock Exchange of India Limited and the BSE Limited, as well as make the information available on the company’s website, upon receipt of the NCLT order.Manish Dhanuka, Managing Director of Orchid Pharma Limited, confirmed the development...

Suryoday Small Finance Bank Promoter Acquires 50,000 Equity Shares Suryoday Small Finance Bank Limited announced that Mr. Baskar Babu Ramachandran, the Promoter and Managing Director & CEO, purchased 50,000 equity shares through open market transactions. The acquisitions occurred in two phases: 14,000 shares on March 17, 2026, and 36,000 shares on March 18, 2026.Following this transaction, the total promoter and promoter group holding in the bank increased to 22.48%, up from 22.44%. Mr. Ramachandran’s individual holding now stands at 5.22%, an increase from 5.18%. The holding remains compliant with regulatory provisions and RBI pre-approved limits.A separate disclosure related to the Securities and Exchange Board of India...

NMDC Steel Limited Announces Appointment of Director (Finance) Nagarnar, Chhattisgarh, March 18, 2026 – NMDC Steel Limited announced the appointment of Shri Anurag Kapil as Director (Finance) on its Board, effective immediately. The appointment follows a communication from the Ministry of Steel, Government of India, dated March 18, 2026, through Order No. 14013/1/2024-BLA.Shri Anurag Kapil, currently ED (Finance) - Expenditure at the Railway Board, will serve as Director (Finance) for a period of five years or until further orders.The Ministry of Steel’s earlier order, dated March 20, 2023, stipulated that the Chairman and Managing Director, Functional Directors, and Government Directors of NMDC Limited will also serve in the same...

Petronet LNG Limited Reports Penalty Payment for Non-Compliance with Listing Regulations Petronet LNG Limited announced that it has paid a penalty related to non-compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information follows notifications received from the National Stock Exchange of India Limited and BSE Limited.The company received letters from the National Stock Exchange of India Limited, dated February 27, 2026, and from BSE Limited, via email dated February 27, 2026, regarding the non-compliance.The matter was subsequently reviewed by the Board of Directors during a meeting held on March 18, 2026, and the Board took note of the details.Source:

Euro Pratik Sales Limited Schedules Board Meeting to Consider Interim Dividend Euro Pratik Sales Limited (formerly Euro Pratik Sales Pvt. Ltd.) announced that a board meeting is scheduled for Monday, March 23, 2026. The meeting's agenda includes consideration of an interim dividend on the company’s paid-up equity shares for the financial year 2025-26.In accordance with the SEBI (Prohibition of Insider Trading) Regulations, the trading window for company securities is closed for directors and designated persons from Wednesday, March 18, 2026, and will remain closed until March 25, 2026, in relation to the proposed interim dividend declaration.Source:

Solara Active Pharma Sciences Limited Receives Income Tax Demand Notice Solara Active Pharma Sciences Limited announced on March 18, 2026, that it received a Notice of Demand under Section 156 of the Income Tax Act, 1961, from the Deputy Commissioner of Income Tax, Central Circle-3, Thane. The notice pertains to the assessment year 2019-20.The order, passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961, resulted in a Tax Demand of Rs. 161.92 Crores due to disallowance of certain expenses claimed by the Company in its Income Tax Return for Assessment Year 2019-20.The Company intends to file an appeal against the order before the concerned Appellate Authority. Solara Active Pharma Sciences believes it has...

Varun Beverages Limited Completes Acquisition of Twizza Proprietary Limited Varun Beverages Limited announced the completion of its acquisition of 100% of the share capital of Twizza Proprietary Limited on March 18, 2026. The acquisition was made through The Beverage Company Proprietary Limited, a subsidiary of Varun Beverages Limited in South Africa.The enterprise value for Twizza Proprietary Limited, post due diligence adjustments, is ZAR 2,053 million, equivalent to INR 11,398 million, based on an exchange rate of 5.55 INR per ZAR. As a result of the acquisition, Twizza Proprietary Limited has become a step-down subsidiary of Varun Beverages Limited, effective March 18, 2026.Previously, a detailed disclosure regarding this...

Crompton Greaves Consumer Electricals Receives Order from Income Tax Department Crompton Greaves Consumer Electricals Limited announced today that it has received an order from the office of the Assistant Commissioner of Income Tax, Circle-5(1)(1), Mumbai, concerning the assessment year 2019-20. The order pertains to a rectification application filed by the company.The total demand imposed, inclusive of interest, amounts to INR 4,21,07,197. The company is currently evaluating its response to the department, considering the merits of the matter, prevailing law, and advice from consultants.According to the order, the demand was raised against an alleged excess refund of tax. While the potential financial impact is quantified at INR...

Ugro Capital Ltd. Completes Acquisition of Datasigns Technologies Private Limited Ugro Capital Ltd. announced the completion of its acquisition of Datasigns Technologies Private Limited (MyShubhLife) on March 18, 2026. The acquisition involved the purchase of 100% of the shares of Datasigns Technologies Private Limited, as outlined in the Amended and Restated Share Purchase Agreement dated March 5, 2026.As a result of the acquisition, Datasigns Technologies Private Limited has become a wholly owned subsidiary of Ugro Capital Ltd., effective March 18, 2026. Ekagrata Finance Private Limited, a wholly owned subsidiary of Datasigns Technologies Private Limited, is now considered a subsidiary (step-down subsidiary) of Ugro Capital Ltd...

GAIL (India) Ltd. Acquires 49% Stake in Leafiniti Bioenergy Private Limited GAIL (India) Limited announced on March 18, 2026, the acquisition of a 49% equity stake in Leafiniti Bioenergy Private Limited (LBPL). LBPL operates a Compressed Bio Gas (CBG) plant with a capacity of 10.2 TPD of CBG located in Karnataka.LBPL’s turnover for the fiscal year 2024-25 was Rs. 28.42 crore. The acquisition, which involved a cash consideration, will not be classified as a related party transaction. GAIL's investment is intended to facilitate the establishment of new CBG projects through LBPL.The acquisition cost totaled Rs. 13,54,32,150, representing 1,35,43,215 equity shares at a face value of Rs. 10 per share. The transaction received concurrence...

Alkem Laboratories to Invest Up to INR 533 Crore in New Manufacturing Facility Alkem Laboratories Limited announced on March 18, 2026, that it has received an allotment letter from DMIC Vikram Udyogpuri Limited for land measuring approximately 30 acres in the Industrial Area DMIC Vikram Udyogpuri Limited, Phase-2, Ujjain, Madhya Pradesh. The land is intended for the establishment of a new greenfield formulations manufacturing facility.The company’s Board of Directors has approved an investment of up to INR 533 crores to be made in phases.Source:

NTPC Green Energy Limited Announces Commercial Operation of Solar Project Capacity NTPC Green Energy Limited announced the declaration of commercial operation for the fourth part capacity of its Khavda-II Solar PV Project. The project, located in Gujarat, added 165 MW to its capacity, bringing the total capacity of the fourth part to 165 MW out of the total 1200 MW. This expansion is attributed to NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Green Energy Limited.The commercial operation commenced at 00:00 hrs on March 19, 2026. With this addition, the total commercial capacity of the NTPC Green Energy Limited Group now stands at 9562.68 MW, increasing to 9727.68 MW overall.Source: