Markets

₹865 Crore in Seizures: EC Cracks Down on Campaign Illegalities in Bengal and Tamil Nadu The Election Commission of India has reported a massive crackdown on illegal election financing in Tamil Nadu and West Bengal. Seizures across both states have cumulatively exceeded ₹865 crore, spanning pre-assembly elections and recent by-elections. This unprecedented financial scale highlights the Election Commission's vigilance in enforcing the Model Code of Conduct (MCC).Scale of Pre-Election Seizures Authorities have recovered significant contraband and illegal funds over the past weeks. West Bengal alone recorded seizures worth ₹427 crore since the Election Seizure Management System was activated on February 26th. Similarly, Tamil Nadu...

Coforge Limited Announces Changes in Senior Leadership, Marks Significant M&A Milestones Coforge Limited has announced changes in its senior management personnel, noting the resignation of key executives responsible for global M&A and investor relations.The company confirmed that Anup Kumar, EVP & Head M&A (SMP), and Manish Hemrajani, Head of Investors Relations, are resigning from their respective positions. Both executives' tenure will officially cease at the close of business hours on April 17, 2026, based in the USA.The resignations mark a period of significant operational activity for Coforge, particularly in the areas of Mergers and Acquisitions.Key Personnel Changes The following table details the senior management changes...

Rathi Steel Receives GreenPro Ecolabel Certification for Sustainable TMT Rebars Rathi Steel and Power Limited (RSPL), a leading special steel manufacturer in the National Capital Region, has received the prestigious GreenPro Ecolabel Certification from the Confederation of Indian Industry (CII). The certification was awarded for its Rathi Powertech brand of TMT rebars manufactured at the company's Ghaziabad Unit. This milestone highlights RSPL's dedication to sustainable manufacturing practices and environmental stewardship.The GreenPro certification, recognized as a Type-1 Ecolabel, specifically covers the Fe 550 Grade of TMT Rebars. The award reinforces RSPL's commitment to sustainable steel production and provides significant...

NTPC Group Boosts Installed and Commercial Capacity Following Rajasthan Solar Project COD NTPC Ltd. announced significant additions to its capacity portfolio following the declaration of the Commercial Operation Date (COD) for a major solar project by a group company of NTPC Green Energy Limited (NGEL). The operational expansion enhances the overall installed and commercial capacity of the NTPC group.A group company of NTPC Green Energy Limited (NGEL) declared the COD for 87.50 MW of solar capacity. This newly operational capacity is derived from a larger 150 MW Solar Project located in Rajasthan. The COD for this capacity boost is effective from 19th April 2026.Following this operational update, the total installed capacity of the...

Ministry Approves Revision of HPCL Rajasthan Refinery Project Cost Hindustan Petroleum Corporation Ltd (HPCL) has received approval from the Ministry of Petroleum & Natural Gas for the revision of the cost and investment details for the Hindustan Petroleum Corporation Ltd (HPCL) Rajasthan Refinery Limited (HRRL) Project.The Ministry of Petroleum & Natural Gas advised the revision of the project cost from Rs. 43,129 Crore to Rs. 79,459 Crore. This revision is accompanied by an increased HPCL equity investment of Rs. 19,600 Crore, which is necessary to maintain HPCL's equity stake of 74% in the venture.The revised financial details for the HRRL Project are as follows:Metric Original Value Revised ValueProject Cost Rs. 43,129...

CRISIL Reaffirms AAA/Stable Rating for New India Assurance Company Ltd CRISIL ratings has reaffirmed its CRISIL AAA/Stable rating to The New India Assurance Company Limited, a major undertaking of the Government of India.The rating affirmation, which carries a Stable outlook, reinforces the company's strong credit standing within the financial sector.Issuers holding the CRISIL AAA rating are considered by the agency to possess the highest degree of safety regarding the timely servicing of their debt obligations. Consequently, debt exposures to such issuers are assessed to carry the lowest credit risk.The New India Assurance Company Limited remains a significant entity in the insurance sector, and the reaffirmed rating provides...

Astec Lifesciences Ltd. Board Meeting Scheduled to Approve Financial Results for Year Ending March 31, 2026 Astec Lifesciences Ltd. has scheduled a meeting of its Board of Directors to review and approve its financial results for the quarter and the full financial year ended March 31, 2026.The Board Meeting is set to take place on Monday, April 27, 2026. During the meeting, the primary focus will be considering and approving the Standalone and Consolidated Audited Financial Results and Statements for the period, following a comprehensive review by the Audit Committee.Astec Lifesciences Ltd. maintains a strong commitment to quality and sustainability, evidenced by its adherence to multiple international standards. The company holds...

BHEL Reports 18% Revenue Growth for FY 2025-26, Strong Order Book Sustains Momentum New Delhi, April 17, 2026: Bharat Heavy Electricals Limited (BHEL), a major engineering and manufacturing enterprise in the power and infrastructure sector, reported a strong financial performance for the fiscal year 2025-26. The company announced a provisional and unaudited turnover of around Rs. 32,350 crores for FY 2025-26, representing an 18% growth compared to the previous year.During the reporting period, BHEL secured total order inflows amounting to around Rs. 75,000 crores. Coupled with this performance, the company's total outstanding order book at the close of FY 2025-26 stood at approximately Rs. 2.4 lakh crores.Key Business Segments and...

Axis Bank Receives EPFO Orders for Damages and Interest Related to Fund Remittance Axis Bank Limited confirmed receipt of speaking orders from the Employees Provident Fund Organization (EPFO) concerning the remittance of provident fund and allied dues. The orders pertain to damages and interest calculated for the period between April 1, 2022, and June 13, 2024.The EPFO issued the recovery orders, identifying the recovery of interest under section 7Q and damages under section 14B. The direction and orders were dated March 27, 2026.The total amounts levied are detailed below:Component Authority AmountDamages (s/ 14B) Employees Provident Fund Organization Rs. 91,50,641Interest (s/ 7Q) Employees Provident Fund Organization Rs...

India Ratings Affirms IND BBB-/Stable Ratings for Purple Finance's Debt Instruments India Ratings and Research Private Limited (IND-RA) has affirmed and assigned credit ratings to Purple Finance Limited's (PFL) debt instruments, reflecting the company's current capital structure, growth trajectory, and operational standing.The ratings agency assigned the following ratings to the company's instruments:Instrument Type Size of Issue (million) Rating Assigned Rating ActionNon-Convertible Debenture* INR 500 IND BBB-/Stable AffirmedBank Loan Facilities INR 1,250 IND BBB-/Stable AffirmedNon-Convertible Debentures* INR 500 IND BBB-/Stable AssignedKey Financial Performance and Growth Drivers IND-RA assessed PFL's profile by...

Veedol Corporation Limited Reports Resignation of Executive Director, Group Supply Chain Management Veedol Corporation Limited, formerly known as Tide Water Oil Co. (India) Limited, announced the resignation of a key senior management personnel. The departure involves Mr. Sanjeev Wangoo, who held the position of Executive Director, Group Supply Chain Management.The resignation of Mr. Wangoo is effective from the close of business on Friday, 17th April, 2026.Veedol Corporation Limited provided a detailed summary of the personnel change, confirming the following operational update:Particulars DetailsReason for change ResignationDate of cessation With effect from close of business on 17th April, 2026Position Executive...

Jio Financial Services Announces Availability of Financial Results Presentation Recording Jio Financial Services Ltd provided the audio/video recording of its presentation discussing the Audited Financial Results (Consolidated and Standalone) for the quarter and year ended March 31, 2026.The presentation was made to analysts on April 17, 2026. According to the company, the session concluded on this day at 8.25 p.m. IST.The recorded presentation, covering the audited financial results for the period, is accessible on the company's official website.JIOFIN Stock Price Movement Today, shares of Jio Financial Services Limited gained 1.46% to settle at ₹243.86, reflecting strong buying interest in the financial services sector. The...

Banka BioLoo Limited Announces Resignation of Company Secretary and Compliance Officer Banka BioLoo Limited confirmed the resignation of Mrs. Nitika Lakhotia from the roles of Company Secretary and Compliance Officer. The resignation is effective from the close of business hours on 30 April 2026.The company confirmed that Mrs. Nitika Lakhotia is stepping down to pursue a better career opportunity outside the organization.The board has accepted the resignation, relieving her of her duties and responsibilities effective April 30, 2026.The details surrounding the cessation of her services are as follows:Particulars InformationResignation Details Mrs. Nitika Lakhotia resigned from the position of Company Secretary and...

Uniparts India Limited Reports Full Deletion of INR 25,79,86,410 Tax Demand Following Rectification Order Uniparts India Limited has announced a material development regarding its pending litigation, confirming that a significant tax demand has been fully deleted following a rectification order.The company confirmed that the Assistant Commissioner of Income Tax, Circle 25(1) - New Delhi, issued a rectification order concerning the assessment order for the Assessment Year (AY) 2024-25. This assessment order was initially passed under Section 154 read with Section 143(3) of the Income Tax Act, 1961.As a direct result of this rectification, the tax demand amounting to INR 25,79,86,410/- has been completely deleted. The company received...

Zee Entertainment Enterprises Announces Strategic Investment in PhantomFX to Boost AVGC Content Creation Zee Entertainment Enterprises Ltd. (Z) has announced a strategic investment in Phantom Digital Effects Ltd. (PhantomFX), the renowned visual effects and animation studio. The move aims to significantly enhance Z's presence and content creation capabilities within the high-potential Animation, Visual Effects, Gaming, and Comics (AVGC) segment.The partnership is designed to leverage content creation and distribution synergies at a global level across various platforms. Z plans to acquire Compulsorily Convertible Debentures (CCDs) in PhantomFX, up to Rs. 116 crores, which will be done through preferential allotment in one or more...

Crompton Greaves Consumer Electricals Ltd Launches Premium BLDC Product Energion Niteo Pro Crompton Greaves Consumer Electricals Ltd announced a significant product launch on April 17, 2026. The company introduced its new offering, Energion Niteo Pro, which falls under the Premium BLDC category.The newly launched product is designed for the domestic market. Crompton Greaves Consumer Electricals Ltd confirmed that the initial launch version of the Energion Niteo Pro was available in the 48' Sweep Size, with the 36' size expected to be available later.Details of the product launch are summarized below:Product Name Launch Date Category Market Scope DetailsEnergion Niteo Pro 17-04-2026 Premium BLDC Domestic Launched in 48' Sweep...

Aditya Birla Real Estate Highlights Strong Bookings and Plans Joint Development in North Bangalore Aditya Birla Real Estate Ltd's subsidiary, Birla Estates, is demonstrating strong momentum in the residential real estate sector, recording significant bookings at its premium project in Bengaluru while advancing a major Joint Venture in North Bangalore.Birla Estates, the real estate arm of Aditya Birla Real Estate Limited, reported a robust response to Phase 4 of Birla Trimaya in Bengaluru. The latest phase generated bookings of approximately 650 crores, representing over 85% of the total booking value for the launched inventory. This success was achieved with the sale of around 460 units.The consistent demand for the project is...

Phantom Digital Effects Limited Approves Capital Restructuring and CCD Issuance Phantom Digital Effects Limited announced key corporate actions following a Board of Directors meeting held on April 17, 2026. The board approved plans for a significant increase in the company's authorized share capital, the preferential issuance of Compulsorily Convertible Debentures (CCDs), and the convening of an Extraordinary General Meeting (EGM) to seek shareholder approval for these matters.Capital Structure Enhancement During the meeting, the board approved altering the Memorandum of Association (MOA) and increasing the company’s authorized share capital. The authorized capital is being increased from ₹25,00,00,000/- (Rupees Twenty Five Crore...

Vodafone Idea Limited Receives Financial Disincentive from TRAI Over Unsolicited Communication Compliance Vodafone Idea Limited has received an order from the Telecom Regulatory Authority of India (TRAI), levying a financial disincentive related to compliance failures concerning unsolicited commercial communication. The company stated that it is currently reviewing the order and evaluating its next steps in response to the directive.The financial disincentive of Rs. 21,46,000/- was imposed by TRAI under the Telecom Commercial Communications Customer Preference Regulations, 2018. The directive, which was received on 17 April 2026, relates to specific operational lapses identified by the authority.The order stems from the failure to...

Wherrelz IT Solutions Approves Capital Increase and Share Allotment Plan at Board Meeting Wherrelz IT Solutions Ltd held its Board of Directors meeting on April 17, 2026. During the meeting, the Board approved the audited financial results for the half year and the year ended March 31, 2026, alongside the Auditor's Report and Certificate of unmodified opinion.The company also finalized several key corporate actions, including proposing a significant increase in its authorized share capital and detailing a plan for issuing shares on a preferential basis to non-promoter investors.Capital Structure Expansion The Board proposed increasing the authorized share capital of the Company, subject to the approval of the members in the...