Markets

Prestige Estates Reports Record FY26 Performance, Hitting Highest Sales and Collections Milestones Bengaluru, April 14, 2026: Prestige Estates Projects Limited has reported its operational performance for the quarter and financial year ended March 31, 2026. The company noted sustained momentum across its Residential, Commercial, Retail, and Hospitality verticals, leading to its highest-ever annual sales and collections.The company achieved annual sales of ₹ 3,00,245 million, driven by robust launches, steady demand, disciplined collections, and focused execution. Furthermore, during the financial year, the company undertook significant business development, adding new projects with an estimated Gross Development Value (GDV) exceeding...

Dr. Reddy's Subsidiary Receives Final Penalty Decision from Russian Tax Authority Dr. Reddy's Laboratories Limited announced that its subsidiary, Dr. Reddy's Laboratories LLC, Russia, received a final penalty decision from the Interdistrict Inspectorate of the Federal Tax Service of Russia. The decision was received on April 13, 2026.The penalty relates to the levy of Value Added Tax (VAT) upon the re-classification of marketing services by the Tax Authority.The details of the tax authority action are summarized below:ParameterDetailsAuthorityInterdistrict Inspectorate of the Federal Tax Service of Russia (Tax Authority)Date of Decision ReceiptApril 13, 2026Violation CommittedLevy of Value Added Tax (VAT) upon...

Osel Devices Limited's Subsidiary Bags Co-Developer Status at JNPA SEZ in Navi Mumbai Osel Devices Limited, through its wholly owned subsidiary, Osel Industrial Park Private Limited, has secured a Letter of Intent (LOI) for Co-Developer status at the Jawaharlal Nehru Port Authority Special Economic Zone (JNPA SEZ) in Navi Mumbai.The agreement designates Osel Industrial Park Private Limited to undertake the development, operation, and maintenance of the Processing Zone within the JNPA SEZ. This strategic development marks a significant step in the company’s infrastructure expansion, allowing for the creation of world-class industrial and logistics facilities within the government-notified SEZ framework.The key details associated with...

Nuvoco Vistas Records 5% Volume Growth, Sees EBITDA Jump 35% in FY26 Nuvoco Vistas Corporation Limited, a major building materials company, announced its audited standalone and consolidated financial results for the fiscal year ended March 31, 2026. The company reported solid growth across key operational metrics, achieving a consolidated volume of 20.4 Million Metric Tonnes (MMT).The financial results for FY26 showed robust performance, with the consolidated total income growing 10% year-over-year (YoY) to Rs. 11,362 Cr. The company recorded a significant increase in EBITDA, which rose 35% YoY to Rs. 1,881 Cr. Profit After Tax (PAT) saw an increase to Rs. 360 Cr., marking a sharp rise from Rs. 22 Cr. recorded in FY25.Operational...

PFC Incorporates Four Subsidiaries to Drive Major Transmission Projects Power Finance Corporation Ltd. has established four Special Purpose Vehicle (SPV) companies through its subsidiary, PFC Consulting Limited (PFCCL). These new subsidiaries were incorporated to manage and develop significant Independent Transmission Projects (ITPs) across various regions, following the nomination of PFCCL as the Bid Process Coordinator (BPC) for these schemes by the Ministry of Power, Government of India.PFCCL, which is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), is designated as the Bid Process Coordinator for selecting developers through tariff based competitive bidding for the ITPs.For the development of these...

Shivansh Finserve Ltd Approves Fund Raising, Name Change, and Broadened Energy & Drone Objectives Shivansh Finserve Ltd, formerly known as Mansarovar Financial Services Limited, announced that its Board of Directors held a meeting on April 14, 2026. During the meeting, the board considered and approved several strategic proposals related to fundraising, capital structure, and the company's core business objectives.Key Operational Decisions The Board’s discussions focused on three primary areas: fundraising through a preferential issue, increasing the authorized share capital, and altering the company’s name and main objects clause.1. Preferential Issue for Fundraising The board discussed the proposal to raise funds by issuing equity...

Cellecor Gadgets Limited Board Approves Issue of Foreign Currency Convertible Bonds Cellecor Gadgets Limited, formerly known as Unitel Info Limited and Unitel Info Pvt. Ltd., has announced that its Board of Directors has approved the issuance of Foreign Currency Convertible Bonds (FCCBs). The approval relates to an international offering of these bonds, with the total issue size approved not to exceed USD 33MN, equivalent to approximately INR 300 CR.The board approved several key aspects concerning the FCCB offering. These include the overall issue size, the terms and conditions detailed in the final Offering Circular, and the operational timelines for the bonds.The proposed bonds carry a 2% coupon rate and will be issued as...

Adani Energy Commissions 1,000 MW HVDC Power Link to Boost Clean Energy in Mumbai In a significant development for urban power infrastructure, Adani Electricity Mumbai Infrastructure Limited (AEMIL), a subsidiary of Adani Energy Solutions Limited (AESL), has commissioned a 1,000 megawatt (MW) High Voltage Direct Current (HVDC) transmission link connecting Kudus and Aarey. This project is set to enhance the flow of clean and renewable power into the Mumbai Metropolitan Region (MMR), bolstering energy security across the area.The transmission link, which spans 30 kilometres as an overhead line and includes a 50-kilometre underground corridor, was designed to navigate the complexities of a densely built urban environment. Notably, the...

Physicswallah Ltd Sees Tax Demand Reduce to Rs. 192.76 Crore After Rectification Order; Appeal Filed Physicswallah Limited announced an update regarding its tax demand following the receipt of a rectification order from the Income-tax Authority. The revised order, dated April 13, 2026, significantly reduced the previously assessed tax demand.Initially, the company had reported an assessment order and demand notice related to the Income-tax Act, 1961, involving a tax demand of Rs. 263.34 crore.Following the filing of a rectification application under Section 154 of the Income-tax Act, 1961, the Company received an order on April 13, 2026. This order reduced the overall tax demand to Rs. 192.76 crore. The company confirmed that it has...

Hathway Bhawani Cabletel Releases Audited Financial Results for March 31, 2026 Hathway Bhawani Cabletel & Datacom Ltd. has released its audited consolidated and standalone financial results for the quarter and year ended March 31, 2026. The results, covering the reporting period, reflect the company’s financial performance and position.In a significant operational update, the Statement incorporates the audited financial statements of Hathaway Bhawani NDS Network Limited (Bhawani NDS). The company completed the acquisition of the remaining 49% equity stake (15,190 Equity shares) in Bhawani NDS during Q4 FY-26, establishing it as a wholly owned subsidiary.The financial reports provide a comprehensive look at the group's performance...

Supreme Petrochem Ltd Commences EPS-Phase II Expansion at Maharashtra Plant Supreme Petrochem Ltd has initiated the EPS-Phase II expansion project at its Amdoshi Plant located in Nagothane, Maharashtra. The commissioning of this significant expansion marks a major boost to the company's production capabilities.The expansion increases the company's total production capacity.Operational details regarding the expansion, including capacity figures and investment requirements, are summarized below.ParticularsDetailsExisting Capacity85,000 M.T. per yearExisting Capacity Utilization75%Proposed Capacity Addition30,000 M.T.Period within which the proposed capacity is to be addedEPS- Phase II expansion Project at Amdoshi...

Indian Railway Catering and Tourism Corporation Ltd Announces Change in Independent Director Tenure Indian Railway Catering and Tourism Corporation Ltd (IRCTC), a Government of India Enterprise-Navratna, announced that two of its independent directors have completed their tenure, effective April 14, 2026.The company confirmed that the cessation of the directorship for these individuals occurred on this date. The directors whose tenure has concluded are:Shri Namgyal Wangchuk (DIN: 09397676) Shri Sanjay Gaur (DIN: 09399463)The effective date of the changes to the company's Board of Directors is recorded as April 14, 2026.IRCTC Stock Price Movement On Monday, Indian Railway Catering And Tourism Corporation Limited shares slipped...

TRF Ltd. Announces Change in Head of Manufacturing Personnel TRF Ltd. has announced changes in its Senior Management Personnel, noting the cessation of services for one executive and the appointment of another to the position of Head-Manufacturing.Mr. Kumar Vivek ceased to be associated with the company as Head-Manufacturing, with his change effective April 14, 2026.Following this, Mr. Ravi Rao Manda has been appointed as the new Head-Manufacturing of the company, effective April 15, 2026.Mr. Manda brings a significant professional background to the role, boasting over 31 years of experience within Tata Steel, specializing in Manufacturing Control and Equipment Manufacturing.In addition to his extensive experience, Mr. Manda...

Le Lavoir Limited Signs Three-Year Deal with Hotel Tunga Regency Private Limited for Laundry Services Le Lavoir Limited has secured a significant agreement with Hotel Tunga Regency Private Limited to provide comprehensive wet cleaning, washing, and dry-cleaning services over a three-year period from the date of execution.The contract reinforces Le Lavoir Limited's push to expand its institutional footprint. Operating under the brand name 'Le Lavoir', the Company announced the launch of structured laundry service solutions, specifically addressing the needs for room linen, staff uniforms, and guest laundry associated with the new contract.Speaking on the business outlook, Sachin Kapse, Managing Director of Le Lavoir Limited, stated...

Le Lavoir Limited Forms Tie-Up with Orex Coliving Spaces for Laundry Services Le Lavoir Limited has announced a strategic partnership with Orex Coliving Spaces Private Limited (Union Living). The collaboration involves providing comprehensive wet cleaning, washing, and dry-cleaning services under the established 'Le Lavoir' brand name.The move signals a significant phase of expansion for the company. Le Lavoir Limited plans to expand its service reach across various institutions while also targeting the retail market segment to better cater to consumer needs. Furthermore, the company is introducing its organized laundry service offering, specifically designed for residential communities. This new vertical aims to enhance convenience...

Gala Global Products Ltd Plans to Seek Shareholder Mandate for Insolvency Resolution Gala Global Products Ltd announced that its Board of Directors, during a meeting held on April 14, 2026, reviewed the company's financial position and decided to seek a special resolution from its shareholders regarding insolvency proceedings.The Board noted that the Company's total liabilities significantly exceed the realizable value of its assets. To protect the interests of all stakeholders and preserve the value of the Company as a going concern, the Board resolved to seek an enabling mandate from the shareholders. This mandate is required to initiate the Corporate Insolvency Resolution Process (CIRP) under Section 10 or the Pre-packaged...

Gravita India Ltd Announces Voluntary Dissolution of South African Subsidiary Gravita India Ltd announced that the voluntary dissolution of Recyclers South Africa (PTY) Ltd., a subsidiary of Gravita Netherlands B.V. situated in South Africa, has been completed. The company stated that since the subsidiary was not engaged in any business activity, the dissolution would not result in a material financial impact on the company's books.The details regarding the dissolution of Recyclers South Africa (PTY) Ltd. were reported by Gravita India Ltd on April 14, 2026.In relation to the subsidiary, the following financial and operational details were noted:ParticularsDetailsContribution on Total Income BasisNILContribution on Net...

Billionbrains Garage Ventures Ltd to Hold Board Meeting for FY26 Financial Results Billionbrains Garage Ventures Ltd, formerly Billionbrains Garage Ventures Private Limited, has scheduled a Board Meeting to review the company’s audited financial results for the quarter and the year ending March 31, 2026.The meeting of the Board of Directors is scheduled for Monday, April 20, 2026. The primary purpose of the gathering will be to consider and approve the Audited standalone and consolidated financial results for the period ending March 31, 2026.In related operational news, the trading window for designated persons and/or their immediate relatives concerning the company’s equity shares was previously closed starting Wednesday, April 01...

Landmark Cars Limited Reports Strong Quarterly Sales Momentum for Q4FY26 Landmark Cars Limited reported strong quarterly sales for the period ending March 31, 2026, citing sustained demand momentum post GST 2.0 and robust year-end sales activity, despite global uncertainties.The company released its consolidated financial data, showing significant year-over-year growth across key operational segments.According to the reported figures, the consolidated total revenue from operations, including agency sales, for Q4FY26 stood at 1,790 (Proforma) Rs. Cr. This represented a Year-over-Year (YoY) increase of 17.30% compared to Q4FY25. Furthermore, the total revenue for FY26 reached 6,713 (Proforma) Rs. Cr., marking a 19.32% growth compared...

Tata Chemicals Simplifies Group Structure Following Dissolution of UK Subsidiaries Tata Chemicals Ltd has completed the voluntary strike-off and dissolution of two of its wholly owned subsidiaries: Cheshire Salt Holdings Limited and New Cheshire Salt Works Limited. The dissolution of both entities was effective on April 14, 2026.These corporate changes mean that Cheshire Salt Holdings Limited and New Cheshire Salt Works Limited have officially ceased to operate as wholly owned subsidiaries of the company.The company stated that this action will result in the simplification of the group holding structure. However, the dissolution does not change the ultimate ownership of Tata Chemicals over its remaining UK holding and operating...