Markets

Manali Petrochemicals Limited Secures Favorable Ruling from CESTAT Manali Petrochemicals Limited announced on April 1, 2026, that it received a final order from the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) on March 23, 2026. The ruling supports the company’s appeal against an earlier order from the Adjudicating Authority, DRI, Mumbai, concerning a customs duty demand related to the import of Quicklime.The initial demand, raised in July 2019, totaled Rs. 3.83 crore plus interest, alleging misclassification of the imported goods. CESTAT upheld the company’s classification of the goods under CTI 2522 1000, citing that the Calcium Oxide purity of the imported goods ranged between 91% and 95%, falling below the 98%...

Swaraj Engines Ltd. to Hold Board Meeting, Trading Window Closed Swaraj Engines Limited announced that a meeting of its Board of Directors will be held on April 13, 2026, to review and approve the Audited Financial Results for the year ended March 31, 2026. During the meeting, the board will also consider a recommendation for equity dividend.The company has closed its trading window from April 1, 2026, to April 15, 2026, in accordance with its Code of Conduct for Prevention of Insider Trading in Securities. This measure is designed to ensure fair practices and transparency during the review of the company’s financial performance.Source:

Madhya Bharat Agro Products Limited Commences Enhanced Production Capacity Madhya Bharat Agro Products Limited has commenced commercial production of Diammonium Phosphate & Nitrogen and phosphorus (DAP/NPK) fertilizer from its plant in Banda, Madhya Pradesh, according to a company announcement. The enhanced capacity, effective March 31, 2026, increases production from 240,000 metric tons per annum (MTPA) to 330,000 MTPA, representing a capacity addition of 90,000 MTPA.The project involved an investment of approximately Rs. 107 Crore, financed through a combination of debt and internal accruals. The company cited the need to address the demand and supply gap of DAP/NPK fertilizers in India as the rationale for the expansion.Here's a...

AGI Infra Limited Receives Development License for 'Utopia by AGI' Project AGI Infra Limited announced on April 1, 2026, that it has received License No. LDC-101/2026 dated March 31, 2026, from the Greater Mohali Area Development Authority (GMADA) for the development of its Group Housing Colony, 'Utopia by AGI'.The project, located in a premium residential area in New Chandigarh, encompasses a land parcel of 10.26 acres and features a saleable area of approximately 31,93,697 square feet. 'Utopia by AGI' will consist of 661 residential flats, comprising 189 units of 5BHK, 252 units of 4BHK, and 220 units of 3BHK.The development is expected to contribute to the company’s revenue and profits. The license is valid until March 30...

Lancor Holdings Limited Receives NCLT Sanction for Subsidiary Merger Lancor Holdings Limited announced that the Hon’ble National Company Law Tribunal (NCLT) in Chennai has sanctioned the Scheme of Merger of Lancor Maintenance & Services Limited, a wholly-owned subsidiary, with Lancor Holdings Limited. The hearing took place on April 1, 2026.The company is currently awaiting the formal order and will provide a detailed intimation regarding the merger in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Source:

Sharika Enterprises Ltd. Secures Purchase Order from Larsen & Toubro Limited Sharika Enterprises Limited announced on April 1, 2026, that it has received a purchase order from Larsen & Toubro Limited. The order is for the supply of GPRS Modems, part of the DES-Varanasi-SCADA Smart Technology Integration Project.The total consideration for the contract is Rs. 1,03,63,232. The contract is expected to be completed by December 30, 2026. The order is categorized as a domestic contract, and does not involve any related party transactions.Details of the contract are outlined below:S. No.ParticularsDetails1Entity Awarding ContractLarsen & Toubro Limited2Contract DescriptionPurchase order for Supply of GPRS Modem...

Sharika Enterprises Ltd. Receives Work Order from Punjab Energy Development Agency Sharika Enterprises Limited (SEL) announced on April 1, 2026, that it has received a work order from the Punjab Energy Development Agency, a Punjab Government Undertaking. The work order is for the supply, installation, and commissioning of 12-watt LED-based SPV Street Lighting Systems in the State of Punjab.The total consideration for the contract is Rs. 28,36,130. The contract is to be executed within 119 days.According to details released, neither the promoter group nor any group companies have any interest in the Punjab Energy Development Agency. The contract does not fall under related party transactions.Below is a summary of the work order...

Gaudium IVF and Women Health Ltd Faces Arbitration Proceeding Gaudium IVF and Women Health Ltd. has been named in an arbitration proceeding filed by Neomile Corporate Advisory Limited before the High Court of Judicature at Bombay. The arbitration pertains to an arrangement related to alleged advisory services provided in connection with the company’s Initial Public Offering (IPO).Neomile Corporate Advisory Limited is seeking interim measures of protection for a claimed amount of Rs. 29,20,50,000 (inclusive of GST).Gaudium IVF and Women Health Ltd. maintains that the petition filed by Neomile Corporate Advisory Limited is unsubstantiated and based on factual inaccuracies. The company states it is taking steps to protect its...

Wipro Launches AI-Native Business & Platforms Unit to Drive Growth BENGALURU, India – April 1, 2026 – Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced the launch of a dedicated AI-Native Business & Platforms Unit. The move aims to complement the company’s services business and position it at the forefront of innovation.The new unit will focus on accelerating the development of enterprise-grade agentic AI solutions and enhancing outcome-based value creation. It will also incubate new AI-led business streams through an invest-build-partner approach, working alongside Wipro Ventures and its partner ecosystem.The unit will leverage platforms including...

Yatra Online Ltd. Secures Significant Tax Relief from CESTAT Yatra Online Ltd. announced that the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) in Chandigarh has issued an order in favor of the company and its subsidiary, TSI Yatra Pvt. Ltd., setting aside previously raised tax demands. The orders, dated March 30, 2026, were received by the company on March 31, 2026.The tribunal set aside total duty demands of Rs. 1,11,25,81,653 (approximately Rs. 111.25 Crore) and penalties of Rs. 39,47,89,549 (approximately Rs. 39.47 Crore) for Yatra Online Limited, along with duty demands of Rs. 1,99,42,636 (approximately Rs. 1.99 Crore) and penalties of Rs. 1,99,52,636 (approximately Rs. 1.99 Crore) for TSI Yatra Pvt. Ltd. Interest...

ABB India Limited Faces Customs Order, Plans Appeal ABB India Limited announced it received an order from the Commissioner of Customs, APACC, Bengaluru, on April 1, 2026. The order pertains to the misclassification of goods and a contravention of the Customs Act, 1962.The company has been assessed a penalty of Rs. 3,55,73,125 and a redemption fine of Rs. 11,00,00,000. ABB India Limited intends to file an appeal against the order and anticipates a favorable outcome at the appellate level. The company does not foresee a material impact on its operations.Details of the Customs OrderThe following table summarizes key details of the order:DetailInformationAuthorityCommissioner of Customs, APACC, BengaluruNature of...

Prima Plastics Ltd. Completes Demerger, Effective April 1, 2026 Prima Plastics Limited has completed a scheme of merger with Prima Innovation Limited, effective April 1, 2026. The move follows the receipt of a certified true copy of an order from the Hon'ble NCLT, Ahmedabad Bench, sanctioning the scheme. Both Prima Plastics Limited and Prima Innovation Limited have filed the certified true copy of the order with the Registrar of Companies, Goa, via form INC-28.Prima Plastics Limited will separately announce the record date for the scheme and disseminate this information.The company's manufacturing operations include moulded furniture and roto moulded products. Prima Plastics Ltd. is headquartered at 98/4, Prima House, Daman...

Advik Capital Limited Receives Update on SEBI Interim Findings in Elitecon Case New Delhi | April 1, 2026 – Advik Capital Limited ("the Company") announced that the Securities and Exchange Board of India (SEBI) has issued an Ex-Parte Interim Order dated March 30, 2026, against Elitecon International Limited ("Elitecon"), its promoter, and certain connected persons. The order relates to alleged regulatory violations concerning Elitecon's securities and disclosures.According to the order, SEBI has noted the receipt of ₹64 crore by the Company during August 2024 through banking channels, related to a loan advanced to Elitecon International Limited. SEBI's observations include preliminary findings regarding financial statement...

Madhya Bharat Agro Products Limited Commences Commercial Production of SSP Plant Madhya Bharat Agro Products Limited announced the commencement of commercial production at its Single Super Phosphate (SSP) plant located in Dhule, Maharashtra, starting March 31, 2026. The new facility has a production capacity of 1000 tons per day (TPD).Sourabh Gupta, Whole Time Director & CFO, confirmed the development. The company is registered under CIN No. L24121RJ1997PLC02912 and has its Registered Office in Bhilwara, Rajasthan.Source:

eClerx Services Ltd. Announces Vesting of Employee Stock Options Mumbai – April 1, 2026 – eClerx Services Ltd. announced today that 6,75,870 employee stock options granted to employees of the company and its subsidiaries have vested. The options were initially granted on May 25, 2023, under the Employee Stock Option Scheme 2022 and completed a three-year vesting period, becoming available for exercise with effect from April 1, 2026.The options were granted at an exercise price of Rs. 709.91. A total of 11,74,480 equity shares are covered by these options.According to a disclosure, the Employee Stock Option Scheme 2022 is in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity)...

BLT Logistics Ltd. Establishes Wholly-Owned Subsidiary in Dubai, UAE BLT Logistics Limited announced the registration of a wholly-owned subsidiary, BLT International Logistics FZ-LLC, in the RAKEZ Free Zone, Dubai, UAE, on March 31, 2026.The subsidiary, BLT International Logistics FZ-LLC, is registered with License Number 4703 1369 and has a stated turnover of NIL as it has yet to commence business operations. The company’s primary business activities will focus on consultancy and related services.The investment represents a cash consideration of AED 5,000,000, divided into 500 shares valued at AED 1,000 each. BLT Logistics Limited will hold 100% ownership in the newly formed subsidiary.As a wholly-owned subsidiary, BLT...

Glenmark Pharmaceuticals to Directly Commercialize RYALTRIS® in the U.S. Elmwood Park, New Jersey, April 01, 2026 – Glenmark Pharmaceuticals Inc., USA (Glenmark) announced it will manage end-to-end commercialization and distribution for RYALTRIS® (Olopatadine Hydrochloride and Mometasone Furoate) Nasal Spray, 665 mcg/25 mcg* per spray in the United States, effective April 1, 2026.This marks a step in Glenmark’s expansion in the region with a focus on building a direct commercial presence in the U.S. RYALTRIS® is Glenmark’s first innovative product introduced into the U.S. market and was initially launched in the United States in 2022. It is approved by the U.S. Food and Drug Administration (U.S. FDA) for treating Seasonal Allergic...

Karur Vysya Bank Reports 14.92% Growth in Total Business for Fiscal Year 2026 Karur Vysya Bank Ltd. announced provisional financial figures for the period ending March 31, 2026, indicating a significant increase in key business metrics. Total business for the year reached ₹2,14,409 crore, reflecting a year-on-year growth of 14.92% compared to ₹1,86,569 crore in the previous fiscal year.The bank’s advances portfolio grew to ₹98,743 crore, a 16.87% increase year-on-year. Total deposits reached ₹1,15,666 crore, up 13.31% compared to the previous year. Excluding certificates of deposit, total deposits amounted to ₹1,09,868 crore, exhibiting a 12.33% year-on-year growth.A detailed breakdown of the financial performance is presented...

Rushil Decor Ltd. to Upgrade Manufacturing Unit, Announces Temporary Shutdown Rushil Decor Ltd. announced technological upgrades at its laminate sheet manufacturing unit in Mansa, Gujarat, beginning April 1, 2026. The company is transitioning from a steam boiler system to a Thermic Fluid Heater system, currently used for one of its press machines, to serve all three presses.The upgrade is expected to improve fuel efficiency, reduce water consumption, and enhance overall plant efficiency. The new system will also incorporate automation through auto-feeding mechanisms, enhancing operational safety and reducing manpower dependency. It is anticipated to improve the quality and productivity of final products.The technological upgrade...

Tamilnad Mercantile Bank Reports Strong Business Growth in Fiscal Year 2026 Tamilnad Mercantile Bank Limited announced provisional business figures for the quarter and year ended March 31, 2026, reflecting robust growth across key areas. The bank’s total business reached ₹1,15,092 crore as of March 31, 2026, representing a 17.37% year-over-year increase compared to ₹98,055 crore in the previous fiscal year.Total advances for the bank amounted to ₹53,380 crore, a 20.32% increase year-over-year. Deposits rose to ₹61,712 crore, marking a 14.94% year-over-year gain. The bank’s CASA (Current Account Savings Account) balance reached ₹17,365 crore, reflecting a 22.35% year-over-year growth.ParticularsAs of 31.03.2025As of 31.03.2026...