Markets

Mangal Electrical Industries Receives Appellate Order Regarding GST Input Tax Credit Mangal Electrical Industries Ltd. has reported receiving an order in Appeal No. 115/AA-I/GST/2023-24 from the Office of the Appellate Authority (Government of Rajasthan) State Tax, Jaipur-First, Jaipur. The order concerns the provisions of the GST Act, 2017, specifically pertaining to input tax credit and tax demand.The official notice was received on April 8, 2026, via the portal. The core issue highlighted in the order relates to alleged discrepancies in GST returns and excess availment of Input Tax Credit for the Financial Year 2017-18.The details of the order and the compliance points are summarized below:CategoryDetailsAuthorityOffice of...

India Ratings Affirms Torrent Power's Debt Instruments; Rates New NCDs at 'IND AA+/Stable' India Ratings and Research (Ind-Ra) has published rating actions on Torrent Power Limited's (TPL) debt instruments. The agency assigned the long term credit rating for proposed non-convertible debentures (NCDs) amounting to ₹4,000 Crore and re-affirmed the rating for existing non-convertible debentures amounting to ₹3,700 Crore at 'IND AA+/Stable'. Furthermore, Ind-Ra affirmed the rating on the short-term commercial paper at 'IND A1+'.The rating actions reflect TPL's operational structure, which benefits from the regulated cost-plus model of its distribution licensee (DL) business and generation assets, allowing the company to generate a...

Wipro Limited Board Approves Re-appointment of Ms. Tulsi Naidu as Independent Director Wipro Limited announced that its Board of Directors approved the re-appointment of Ms. Tulsi Naidu as an Independent Director. The decision was made during a Board meeting held on April 16, 2026.The re-appointment extends Ms. Naidu's tenure for a second term of five years. Her service period will be effective from July 1, 2026, to June 30, 2031. The appointment remains subject to the subsequent approval of the company's shareholders.Professional Profile and Board Role Ms. Naidu, who initially joined the Company in July 2021, currently serves on the Board and holds key committee positions. She is a member of the Audit, Risk, and Compliance...

AJC Jewel Manufacturers Launches Esthara Jewels, Making Strategic Entry into Silver Retail AJC Jewel Manufacturers Limited, an established leader in the B2B gold manufacturing sector, has announced a strategic pivot into the high-growth silver fashion jewelry market. The company marked this shift with the launch of its dedicated retail vertical, Esthara Jewels. Esthara Jewels has opened its first flagship physical store in Thrissur, Kerala, alongside a dedicated Direct-to-Consumer (D2C) e-commerce platform, signaling the manufacturer's move toward organized retail.Esthara Jewels, operating as a subsidiary of AJC Jewel, is positioned to bridge the gap between luxury aesthetics and accessible pricing. The brand specifically targets...

Hindustan Copper and CODELCO Forge Cooperation on Joint Mining Exploration in Chile Hindustan Copper Ltd. (HCL) has confirmed a collaborative effort with Corporacion Nacional Del Cobre De Chile (CODELCO) focused on identifying and potentially exploiting mineral properties in Chile. The initiative follows an executed Agreement for cooperation and exchange of information between the two companies.The collaboration aims to establish a strategic partnership to enhance capabilities in the fields of mining properties exploration and mineral beneficiation. The primary objective of the agreement is to identify and, if feasible, implement joint activities by sharing experience and knowledge between both parties.The cooperation formalized...

DCM Shriram and Teknor Apex Form Joint Venture PolyTek for Advanced Polymer Solutions DCM Shriram Ltd. has announced a major strategic partnership through a joint venture with Teknor Apex B.V., establishing a dedicated platform to enhance its positioning in advanced polymer compounds. The collaboration brings together domestic manufacturing strength with global polymer material science expertise.The joint venture involves DCM Shriram’s subsidiary, Shriram Polytech Ltd., and Teknor Apex B.V., a subsidiary of Teknor Apex Company, a global leader in plastic material science solutions. The newly formed entity will operate under the brand name PolyTek.This partnership marks a significant step in DCM Shriram's strategy to expand its...

Lumel SA Secures €3 Million Order from Leading German Energy Sector Company Rishabh Instruments Limited's wholly owned subsidiary, Lumel SA, has secured an additional contract worth €3 million (approximately Rs 30 Crores) from a leading Germany-based energy sector company. This contract marks a continued strategic partnership and the second significant order from the same German client.The contract involves the supply of advanced electronic devices specifically designed for industrial automation applications within the energy sector. The agreement is valid through the end of 2027 and represents a major reinforcement of Lumel SA's international expansion strategy.The order details confirm that the contract is valued at €3 million (Rs...

LIC Housing Finance Reports Change in Senior Management Personnel LIC Housing Finance Limited announced a change in its Senior Management Personnel (SMP) effective close of business hours on April 16, 2026.The company confirmed the cessation of duties for Shri Debakanta Padhi, who previously held the designation of General Manager (HR, Staff Discipline and Legal). The change was attributed to his repatriation back to LIC of India.The key details of the management transition are summarized below:Personnel NameDesignationReason for ChangeShri Debakanta PadhiGeneral Manager (HR, Staff Discipline and Legal)Cessation as Repatriated back to LIC of India.The company confirmed that the change in senior management personnel was...

HDFC Bank Board Approves Investment of Up To Rs 1,000 Crore in HDFC Life Insurance HDFC Bank Limited announced that its Board of Directors approved a significant investment in HDFC Life Insurance Company Limited, a subsidiary of the Bank. The decision was made during a board meeting held on April 16, 2026.The board approved the investment of an amount not exceeding Rs 1,000 crore (Rupees One thousand crore only). This investment is structured for the preferential issue of equity shares to be made by HDFC Life Insurance Company Limited, disbursed in one or more tranches.The proposed investment in HDFC Life Insurance Company Limited is subject to necessary approvals, including requisite clearance from the Reserve Bank of India...

Wipro Announces Q4 and Full Year Results for March 31, 2026, Driven by AI Focus and Major Strategic Wins Wipro Limited, a technology services and consulting company, announced its financial results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2026. The company reported significant growth in its service segments while detailing plans for major capital returns to shareholders.In the fourth quarter of the fiscal year (Q4'26), Adjusted Net Income grew 3.7% Quarter-over-Quarter (QoQ) and 2.2% Year-over-Year (YoY). The overall full year (FY'26) margin stood at 17.2%, expanding 0.2% from the previous year, while the Q4 margin reached 17.3%.Financial Highlights (Q4'26 and FY'26) Wipro...

Wipro Announces Audited Financial Results for March 2026, Details Strategic Acquisitions and Buyback Proposal Wipro Ltd. announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The financial results cover the three months ended March 31, 2026, and the full year ended March 31, 2026.The company's earnings and performance data provide insights into its key segments and global operations, alongside announcements of major strategic acquisitions and a shareholder buyback proposal.Financial Highlights (Millions of Indian Rupees) The financial results for the Standalone and Consolidated entities are detailed below.Audited Standalone Financial Results (Ind AS)ParticularsThree...

Investment & Precision Castings Ltd Secures Significant Defence Order from MKU Limited Investment & Precision Castings Ltd has secured a significant purchase order from MKU Limited, a leading defence solutions provider. This development marks a key milestone for the company within the defence and aerospace sector, particularly concerning mission-critical, high-precision applications.The order involves the manufacture and supply of components for thermal weapon sight systems applications.Order DetailsAspectDetailAwarding AuthorityMKU LimitedNature of OrderManufacture and supply for thermal weapon sight systems applicationsOrder ValueThe order is of strategic and substantial value, expected to contribute meaningfully to...

HDFC Life Reports 6% Growth in Profit After Tax for FY26; Highlights Robust Growth in Retail Protection HDFC Life Insurance Company Ltd. announced its audited standalone and consolidated financial results for the year ended March 31, 2026. The company reported a 6% increase in Profit after Tax (PAT) to ₹1,910 crore for the 12 months ending FY26.The financial results underline disciplined execution in a volatile operating environment, with the company reporting strong momentum in its Protection and Sum Assured segments.Performance Highlights and Market Position During FY26, New Business in terms of Annualized Premium Equivalent (APE) grew by 8% year-on-year, achieving a healthy two-year Compound Annual Growth Rate (CAGR) of 12%. The...

HDFC Life Board Approves Financial Results, Dividend, and Mega Preferential Allotment HDFC Life Insurance Company Ltd announced key outcomes from its Board of Directors meeting held on April 16, 2026. The company approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and recommended a final dividend of ₹ 2.10 per equity share for the financial year 2025-26.The Board also approved the re-appointment of Mr. Niraj Shah as Executive Director & Chief Financial Officer (ED & CFO) for a period of five years. Furthermore, the company detailed the issuance of 1,45,23,906 equity shares on a preferential basis to HDFC Bank Limited.Financial Results and Dividend Declaration The company...

Tech Mahindra to Consider Recommendation of Final Dividend at Board Meeting on April 22, 2026 Tech Mahindra Ltd confirmed that its Board of Directors is scheduled to meet to consider the recommendation of a Final Dividend for the financial year 2025-26.The meeting will take place on Wednesday, April 22, 2026.The Board meeting is designed to review the Audited Standalone and Consolidated Financial Results and Statements of the company for the fourth quarter and the full financial year ended March 31, 2026.At its meeting on April 22, 2026, the Board of Directors will also consider the proposal for recommending the Final Dividend for the financial year 2025-26.In terms of trading activity, the company confirmed that the Trading...

Firstsource Solutions Launches Kairos, Operating System to Bridge AI Ambition and Operational Reality Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company, has announced the launch of Kairos, an operating system designed to power enterprise intelligence and close the gap between AI capability and real-world operational performance.The newly unveiled Kairos is described as an embedded intelligence engine capable of designing, building, and operating agentic workflows. It guides enterprise transformation from the initial ambition to the final, accountable outcome in a single, continuous motion.Ritesh Idnani, CEO & Managing Director of Firstsource, noted that the current challenge facing organizations is not a lack of AI...

Samvardhana Motherson International Ltd Subsidiary GIE Groupe AD Completes Dissolution and Deregistration Samvardhana Motherson International Ltd announced the dissolution and deregistration of GIE Groupe AD ('GIE'), an indirect wholly owned subsidiary of the company. The dissolution process was completed on April 14, 2026, following the approval of the Commercial Register in France.GIE Groupe AD was initially acquired by Samvardhana Motherson International Ltd on May 13, 2024, as part of the larger acquisition of ADI Group. The company confirmed that GIE was not carrying out any business or operation, leading the shareholders to approve its dissolution. Accordingly, the Commercial Register formally approved the dissolution of GIE on...

Aditya Infotech Partners with Orient Cables to Form 50:50 Joint Venture for Cable Manufacturing Aditya Infotech Limited (AIL) has finalized a Joint Venture Agreement with Orient Cables (India) Limited (Orient). The agreement formalizes a strategic partnership aimed at establishing a dedicated manufacturing facility for various types of electric cables and related products. The transaction was executed on April 16, 2026.The joint venture, which is expected to be incorporated as a Private Limited Company, is structured on an equal shareholding basis, with both AIL and Orient holding a 50:50 stake. The primary objective of the venture is to manage the business of manufacturing electric cables, including LAN cables and CCTV cables...

TVS Supply Chain Solutions Withdraws NCLAT Appeal Following Settlement with ZTE Telecom TVS Supply Chain Solutions Limited has withdrawn its appeal before the National Company Law Appellate Tribunal (NCLAT) following a settlement reached with ZTE Telecom India Pvt. Ltd. The matter concerned operational dues claimed by TVS Supply Chain Solutions from ZTE Telecom for services provided under the existing business arrangements between the two parties.The Company confirmed the status update regarding the proceedings in the NCLAT, detailing the terms of the settlement.The details of the litigation matter and the subsequent settlement are summarized below:ParticularsDetailsAppellantTVS Supply Chain Solutions Ltd.Opposing PartyZTE...

Kalyani Steels Reports Resignation of Chief Financial Officer, Bal Mukand Maheshwari Kalyani Steels Ltd. confirmed the resignation of Mr. Bal Mukand Maheshwari from the post of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). The resignation was submitted by Mr. Maheshwari due to personal reasons.Mr. Maheshwari's resignation was submitted on April 16, 2026. The company noted that he would be relieved from his duties after the close of business hours on May 8, 2026.The transition of responsibilities is being managed by the company. Mr. Maheshwari stated in his resignation that he would ensure a smooth handover process during his remaining tenure.KSL Stock Price Movement Today, shares of Kalyani Steels Limited edged...