Markets

Mold-Tek Technologies Limited Receives Demand Notice Under Income Tax Act Mold-Tek Technologies Limited announced on March 18, 2026, that it received a demand notice under Section 156 of the Income Tax Act, 1961, for the Assessment Year 2024-25. The notice was issued by the Income Tax Department, Ministry of Finance, Government of India.The company received a tax demand notice of Rs. 30,40,440. According to the company, the order has no financial impact. The company is currently responding to the notice within the stipulated timeframe.Below is a summary of the details related to the notice:ParticularsDescriptionAuthorityIncome Tax Department, Ministry of Finance, Government of IndiaNature of ActionDemand notice under...

Bain Capital Receives RBI Approval for Investment in Manappuram Finance Valapad, Kerala, March 18, 2026 – Manappuram Finance Limited announced today that its subsidiaries, Asirvad Micro Finance Limited (AMFL) and Manappuram Home Finance Limited (MHFL), have received approvals from the Reserve Bank of India (RBI) for indirect changes in control and management related to Bain Capital's investment.The approvals mark a key milestone in Bain Capital’s strategic investment, which totals approximately ₹4,385 crore. This investment will result in Bain Capital affiliates, BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, acquiring joint control of Manappuram Finance and its subsidiaries alongside the existing promoters.The...

Eastern Silk Industries Limited’s Offer for Sale Sees Unsubscribed Portion Reallocated to Retail Segment Mumbai – March 18, 2026 – Baumann Dekor Private Limited, promoter of Eastern Silk Industries Limited, announced today that a portion of the non-retail segment in the company's ongoing Offer for Sale (OFS) on the National Stock Exchange of India (NSE) will be reallocated to retail investors.As of the close of trading on March 18, 2026, only 39,263 out of 2,25,000 shares reserved for the non-retail segment were subscribed. In accordance with the terms of the OFS dated March 17, 2026, the unsubscribed portion is to be made available to retail investors on March 19, 2026.The re-allocation will make an additional 185,737 equity shares...

NMDC Limited Appoints Anurag Kapil as Director (Finance) Hyderabad, India – March 18, 2026 – NMDC Limited announced today the appointment of Anurag Kapil as Director (Finance). The appointment follows an order issued by the Ministry of Steel, Government of India.Anurag Kapil, currently serving as ED, Finance Expenditure, Railway Board (IRAS), will assume the role for a period of five years, commencing from his date of joining or until further notice.The Ministry of Steel’s order, reference number S14013/1/2024-BLA, formalized the appointment. This change to the Board composition is effective March 18, 2026.Pravin Shekhar, Company Secretary & Compliance Officer, confirmed the news.Source:

Physicswallah Ltd. Faces ₹263.34 Crore Tax Demand Physicswallah Limited announced today that it has received an assessment order and demand notice dated March 16, 2026, under Section 143(3) of the Income-tax Act of 1961.According to the notice from the Assessment Unit of the Income Tax Department, investments received during Assessment Year 2023-24 from investors, including SEBI-registered Category II AIF, have been treated as taxable income. This has resulted in a tax demand of ₹263.34 crore.The company stated that this demand notice is not expected to have a material impact on its financial position, operations, or business activities. Physicswallah Limited intends to file an appeal before the appropriate appellate authority...

SoftTech Engineers Limited Powers Digital Transformation of Urban Governance in Jammu & Kashmir Pune, March 18, 2026 – SoftTech Engineers Limited, a Pune-based company specializing in AECO (Architecture, Engineering, Construction & Operations) technology and e-governance solutions, announced the launch of two digital platforms in Jammu & Kashmir. The platforms were developed for the Housing & Urban Development Department (H&UDD), J&K, and are powered by SoftTech's CivitPERMIT(AutoDCR) technology.The platforms include an Auto Scrutiny-based Building Permission and Change of Land Use (CLU) Portal, integrated with GIS-based Master Plans using CivitPERMIT(AutoDCR), and a Unified Web Portal for the Housing & Urban...

Ola Electric Mobility Limited Proposes Variation in IPO Proceeds Utilization Ola Electric Mobility Limited announced on March 18, 2026, that its Board of Directors has approved a proposed variation in the utilization of proceeds from its Initial Public Offering (IPO). The variation is subject to shareholder approval.The company disclosed details of the proposed changes, outlining original IPO objectives, amounts raised, unutilized funds, and revised timelines. Key adjustments include the allocation of funds from Object 3 (Investment into research and product development) to Objects 4 (Organic growth initiatives) and 6 (Repayment or prepayment of debt).A summary of the proposed variation is presented below:Sr. No.Original Object...

GE Vernova T&D India Limited Appoints Internal Auditor March 18, 2026 – GE Vernova T&D India Limited announced the appointment of Grant Thornton Bharat LLP as its Internal Auditor for the financial years 2026-27 to 2028-29. The decision was approved by the Board of Directors at a meeting held on March 18, 2026.Grant Thornton Bharat LLP (Firm Registration no. AAA7677) will serve as the company’s Internal Auditor. The appointment is effective March 18, 2026, with a term extending through the financial year 2028-29.Grant Thornton Bharat LLP is a leading provider of assurance, tax, and advisory services to Indian and global companies, offering expertise in audit, risk management, and compliance, among other areas.The Board meeting...

Utkarsh Small Finance Bank Receives RBI Approval for Executive Compensation Utkarsh Small Finance Bank Limited announced on March 18, 2026, that it has received approval from the Reserve Bank of India (RBI) regarding the variable pay for Managing Director & Chief Executive Officer, Mr. Govind Singh, for the fiscal year 2024-25. The approval also covers the fixed pay for Mr. Singh for the fiscal year 2025-26, aligning with a previous RBI letter dated September 16, 2024. The RBI’s approval was communicated in a letter dated March 17, 2026. Further details are available on the bank’s website at www.utkarsh.bank.in.Source:

G R Infraprojects Limited Secures Project with INR 2440.87 Crore Contract G R Infraprojects Limited has been declared the successful bidder (L-1) for a project to construct a 4-lane Greenfield Section of National Highway 33, connecting Mokama and Munger in Bihar. The project was awarded following a financial bid opening on March 18, 2026.The contract, awarded by the National Highways Authority of India, is valued at INR 2440.87 crore and will be executed under a Hybrid Annuity Mode (HAM). The completion period for the project is 910 days from the appointed date.The company will provide updates on the project's progress as developments occur. Trading window for designated persons will remain closed for 48 hours following the...

Aditya Birla Lifestyle Brands Limited Allots ₹500 Crore in Non-Convertible Debentures Aditya Birla Lifestyle Brands Limited announced the allotment of ₹500 Crore through the issuance of 50,000 Listed, Unsecured, Rated, Redeemable, Non-Cumulative, Non-Convertible Debentures (NCDs). The Finance Committee of the Board of Directors approved the allotment on March 18, 2026.The NCDs have a face value of ₹1,00,000 each and carry a coupon rate of 7.22% per annum. The debentures were issued on a private placement basis. They will be listed on the BSE Limited.Key Terms of the Issue:ParticularsDetailsSize of the Issue50,000 NCDs with a face value of ₹1,00,000 each, aggregating to ₹500 CroreListedYes, on BSE LimitedTenure2 Years...

SoftTech Engineers Limited Powers Digital Transformation of Urban Governance in Jammu & Kashmir Pune, March 18, 2026 – SoftTech Engineers Limited, a Pune-based provider of AECO (Architecture, Engineering, Construction & Operations) technology and e-governance solutions, announced the launch of two digital platforms for the Housing & Urban Development Department (H&UDD) in Jammu & Kashmir. The platforms were inaugurated by Chief Secretary Atal Dulloo and are powered by SoftTech's CivitPERMIT(AutoDCR) technology.The platforms include an Auto Scrutiny-based Building Permission and Change of Land Use (CLU) Portal, integrated with GIS-based Master Plans, and a Unified Web Portal for the Housing & Urban Development...

REC Limited Board Comments on Fines Related to Board Composition REC Limited, a Maharatna Company, reported that its Board of Directors addressed a matter of non-compliance regarding the composition of the Board during a meeting held on March 16, 2026. This follows a communication dated February 27, 2026, from the National Stock Exchange of India Limited (NSE) and BSE Limited regarding non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.The Board noted the non-compliance and the associated fines imposed by the stock exchanges. The Board requested that regular follow-up be made with the Ministry of Power, Government of India, to expedite the appointment of independent directors. They also...

Nupur Recyclers Limited Discloses Share Acquisition by Uninav Developers Private Limited Nupur Recyclers Limited announced on March 18, 2026, that it received a disclosure from Uninav Developers Private Limited regarding the acquisition of 75,000 equity shares of the company on March 16, 2026. This acquisition represents approximately 0.11% of the company’s equity share capital.According to the disclosure, Uninav Developers Private Limited acquired the shares at a price of ₹51.54 per share, for a total consideration of ₹38,65,500 (Rupees Thirty Eight Lakh Sixty Five Thousand Five Hundred only).Anoop Garg, Director of Uninav Developers Private Limited, confirmed the transaction and stated that no provisions of the company's Code or...

ICICI Bank Redeems USD 816 Million in Notes ICICI Bank Limited has completed the redemption of USD 800 million in notes issued under its Global Medium Term Note Programme (GMTN Programme). The redemption occurred on March 18, 2026, with a total sum of USD 816,000,000.00 paid out.The total redemption amount consisted of a principal amount of USD 800,000,000.00 and an aggregate accrued interest of USD 16,000,000.00 from the last interest payment date to the maturity date. The notes were identified by ISINs: US45112FAJ57/ US45112EAG44.Source:

Power & Instrumentation (Gujarat) Limited Allots Equity Shares Following Warrant Conversion Ahmedabad, March 18, 2026 – Power & Instrumentation (Gujarat) Limited announced today that its Board of Directors approved the allotment of 5,43,531 equity shares following the conversion of convertible warrants. The allotment, executed at a premium of Rs. 73.75 per share, pertains to warrants initially issued on September 21, 2024.The conversion was carried out on a preferential basis to both promoter and non-promoter entities, in accordance with SEBI (Issue of Capital & Disclosures Requirement) Regulations, 2018.As a result of this allotment, the company’s paid-up equity capital has increased to Rs. 20,86,89,000, comprising 2,08,68,900...

United Breweries Receives Environmental Clearance for Uttar Pradesh Brewery United Breweries Limited announced it has received Environmental Clearance (EC) for its proposed greenfield brewery in Uttar Pradesh. The clearance, dated March 17, 2026, was granted by the State Environment Impact Assessment Authority (SEIAA) [Ministry of Environment, Forest and Climate Change], Uttar Pradesh, under the EIA (Environmental Impact Assessment) Notification, 2006.The brewery, located at Plot No. 3, Industrial Manufacturing & Logistics Cluster, Unnao, Uttar Pradesh, will have an annual capacity of 1.3 million hectolitres. The approval is subject to specific conditions.Previous updates on the project were provided on February 13, 2025 and...

Bajaj Auto Re-Appoints Pradeep Shrivastava as Whole-time Director Bajaj Auto Limited announced on March 18, 2026, the re-appointment of Shri Pradeep Shrivastava as a Whole-time Director and Executive Director. The decision, based on a recommendation from the Nomination and Remuneration Committee, was approved by the Board of Directors at a meeting held on March 18, 2026.Shri Shrivastava’s new term will commence on April 1, 2026, and extend for five consecutive years, pending shareholder approval.Shri Pradeep Shrivastava joined Bajaj Auto in April 1986. He holds a Mechanical Engineering degree from IIT Delhi and a graduate diploma in Production and Finance from IIM Bangalore. He currently serves on the Supervisory Board of KTM AG and...

Belrise Industries Limited to Acquire Chester Hall Precision Engineering Holdings Limited Belrise Industries Limited announced on March 18, 2026, that its wholly-owned subsidiary, Belrise UK Holdings Limited, has signed a Share Purchase Agreement to acquire 100% of the issued share capital of Chester Hall Precision Engineering Holdings Limited. Chester Hall Precision Engineering Holdings Limited is a company incorporated in England and Wales, with its registered office at 24 Old Bond Street, London W1S 4AP, United Kingdom.The acquisition is expected to support Belrise Industries’ long-term strategic and technological objectives and expand its presence in the aerospace and defense sector. The transaction is not considered a related...

Belrise Industries Limited Acquires Chester Hall Precision Engineering National, 18th March 2026: Belrise Industries Limited (BIL), a leading Indian automotive component manufacturer, announced that its wholly-owned subsidiary, Belrise UK Holdings Limited, has acquired 100% of Chester Hall Precision Engineering Holdings Limited (Chester Hall), a United Kingdom-based precision engineering group. The acquisition marks BIL’s entry into the global aerospace, space, and defence precision engineering supply chain.Chester Hall specializes in machining aerostructures, aero-engine components, and satellite parts, serving major aerospace customers. The company possesses expertise across aerospace alloys, including titanium and high-grade...