Markets

Punjab National Bank Announces Changes in Senior Management New Delhi – Punjab National Bank (PNB) announced changes in its senior management, effective April 1, 2026. The changes were disclosed in a communication to the National Stock Exchange of India Limited and BSE Limited.The appointments, detailed in a table, involve several Zonal Managers and General Managers transitioning to new roles within the bank.Here’s a summary of the changes:SI. No.NamePrevious AssignmentNew AssignmentExperience (Years)1Rajesh BhowmickZonal Manager - GM, JaipurZonal Manager- CGM, Jaipur292Ashish Kumar ChaturvediZonal Manager - GM, RaipurZonal Manager- CGM, Raipur343Anju MittalGeneral Manager, Compliance DivisionZonal Manager - GM, Agra32...

Brainbees Solutions Limited Announces Acquisition of Additional Stake in Candes Technology Private Limited Brainbees Solutions Limited announced that its material subsidiary, Globalbees Brands Private Limited, has acquired an additional stake in Candes Technology Private Limited on March 31, 2026. The acquisition was made pursuant to a Securities Subscription and Purchase Agreement dated March 31, 2022.Globalbees acquired a 30% additional shareholding from existing shareholders, increasing its stake in Candes Technology Private Limited from 62% to 92%. The total consideration for the acquisition was INR 37,250.Candes Technology Private Limited, incorporated on January 25, 2021, operates under the brand name 'Candes' and deals in...

Cummins India Limited Receives Rectification Orders from Income Tax Department Cummins India Limited announced it received two rectification orders from the Dy. Commissioner of Income Tax, Pune, under Section 155(18) of the Income-tax Act, 1961. The orders pertain to financial year 2018-19, with a demand of INR 32.98 Crores, and financial year 2016-17, with a demand of INR 12.84 Crores.According to the company's evaluation, the demands were raised due to errors apparent on the face of the record. Cummins India Limited is currently pursuing remedial actions with the relevant authorities to resolve the issues and expects the demands to be quashed.The company stated that the demands have no material impact on its financials or...

Tube Investments Acquires Remaining Stake in TIVOLT Electric Vehicles Tube Investments of India Limited announced that M/s. TIVOLT Electric Vehicles Private Limited has become a wholly-owned subsidiary of M/s. TI Clean Mobility Private Limited, a subsidiary of Tube Investments, effective March 31, 2026. This followed the acquisition of 3,000,000 equity shares, representing the remaining 5.45% stake held by another shareholder, for a consideration of Rs. 30 crore.TIVOLT Electric Vehicles Private Limited is engaged in the manufacture and sale of electric small commercial vehicles (e-SCV). The company was incorporated in 2023 and operates in India. TIVOLT reported a turnover of Rs. 81.55 crore for the fiscal year 2025-26 (unaudited), Rs...

Zaggle Prepaid Ocean Services Limited Enters Agreement with Fanuc India Private Limited Zaggle Prepaid Ocean Services Limited announced it has entered into an agreement with Fanuc India Private Limited. The agreement, effective March 31, 2026, involves Zaggle providing its Zaggle Save (Employee Expense Management &Benefits) platform to Fanuc India Private Limited.The agreement with the domestic entity is for a period of 5 years. According to the terms, Zaggle will provide Zaggle Save (Employee Expense Management &Benefits) to Fanuc India Private Limited. No promoter, promoter group, or group company has any interest in Fanuc India Private Limited. The agreement does not constitute a related party transaction.Sr...

Indian Renewable Energy Development Agency Reports Strong Business Performance for Fiscal Year 2026 Indian Renewable Energy Development Agency Limited (IREDA) announced provisional business performance figures for the year ended March 31, 2026, reflecting robust growth across key metrics. The results, subject to audit, demonstrate a significant expansion of IREDA's renewable energy portfolio.IREDA sanctioned loans totaling ₹51,883 crore for the fiscal year, a 9% increase compared to ₹47,453 crore in the prior year. Loan disbursements reached ₹34,946 crore, marking a 16% rise from ₹30,169 crore in fiscal 2025. The loan book outstanding at the end of the year stood at ₹93,075 crore, representing a substantial 22% growth from ₹76,282...

Centrum Capital Limited Retires from Centrum Alternatives LLP Centrum Capital Limited announced it has executed definitive documents to retire from its subsidiary, Centrum Alternatives LLP (CAL LLP), effective March 31, 2026. As a result of this retirement, CAL LLP will cease to be a subsidiary of Centrum Capital Limited, and Surplus Fincare Private Limited has been inducted as a partner.The turnover and net worth of Centrum Alternatives LLP for the fiscal year 2024-25 were Nil and 141.30 respectively, with a net worth of 6,767.64. CAL LLP’s contribution to the consolidated net worth of Centrum Capital Limited for FY 2024-25 was 2.09%.The company received Rs. 7.50 lakh from Centrum Alternatives LLP towards the settlement of its...

BLS E-Services Extends Deadline for Atyati Technologies Acquisition BLS E-Services Limited has extended the timeline for the acquisition of Atyati Technologies Private Limited (ATPL). Initially anticipated to be completed by March 31, 2026, the acquisition is now expected to be finalized on or before April 30, 2026.In February 2026, BLS E-Services announced a binding offer to acquire 100% equity shares of ATPL, contingent upon approvals from lenders/banks, regulatory/statutory authorities, and fulfillment of other conditions.The company is currently working to execute necessary agreements, including Share Purchase Agreements/Framework Agreement, and secure approvals/confirmations from lenders/banks and regulatory/statutory...

Confidence Futuristic Energetech Limited Responds to Trading Volume Increase Confidence Futuristic Energetech Limited addressed the Bombay Stock Exchange regarding a recent increase in trading volume for its securities. The company confirmed it has been disclosing material information to the Stock Exchanges in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Confidence Futuristic Energetech Limited stated that there is no pending information, announcement, or event that could impact the price or volume of its securities. The company attributes the increased trading volume to market-driven activity and reports no specific reason for the change.Confidence Futuristic Energetech Limited’s...

Bharat Coking Coal Limited Revises Modulated Price for Coking Coal and Washed Coal Products Bharat Coking Coal Limited (BCCL) announced a revision to the modulated price for its coking coal and washed coal products, effective April 1, 2026. The decision, approved by the Committee of Functional Directors (CFDs) in a meeting held on March 31, 2026, affects NRS Linkage auction tranche VI and subsequent auctions, as well as single-window mode agnostic e-auctions.The price adjustment reflects a 0.24% increase based on the Wholesale Price Index (WPI) indexation, compared to the previous year. The revision aligns with Coal India Limited (CIL) guidelines.BCCL, a Miniratna Company and subsidiary of Coal India Limited, is a Government of...

Global Surfaces Limited Receives Income Tax Assessment Order and Notice of Demand Global Surfaces Limited announced it received an assessment order under Section 143(3) of the Income-tax Act, 1961, along with a notice of demand under Section 156 of the Income-tax Act, 1961, for the Assessment Year 2023-24. The communication was received on March 31, 2026, from the Office of the Assistant Commissioner of Income Tax, Central Circle 2(2), Kolkata.The assessment order includes additions and disallowances, resulting in a demand of ₹37,48,89,740.According to a summary of the communication, the company believes it has adequate legal and factual grounds to address the matter and does not anticipate a material adverse impact on its...

Bharat Electronics Limited Secures Orders Worth Rs. 6795 Crore Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Undertaking, announced it has secured additional orders worth Rs. 6795 Crore since March 30, 2026.The orders include mountain radars from the Ministry of Defence (MoD), avionics packages for the Light Combat Aircraft (LCA) from Hindustan Aeronautics Limited (HAL), a major export order for communication equipment, electronic fuzes, strategic components, upgrades, spares, and services.Source:

Goodricke Group Terminates Proposed Sale of Barnesbeg Tea Estate Goodricke Group Ltd. announced the cancellation of a non-binding Memorandum of Understanding (MoU) regarding the proposed sale of Barnesbeg Tea Estate. The MoU was initially executed with Mr. Akshay Shankar Das on February 20, 2026, contingent upon the completion of due diligence by March 31, 2026.The parties were unable to reach an agreement on certain matters during the due diligence process, leading to the mutual termination of the MoU. Consequently, a definitive agreement will not be executed, and the transaction will not proceed.According to Goodricke Group, the cancellation of the MoU will not have a material financial impact on the company. Goodricke Group Ltd...

Dev Information Technology Limited Approves Sale of Products and Business Dev Information Technology Limited announced that its Board of Directors approved the sale/transfer of the company's products along with its business as a going concern on a slump exchange to Byte Technosys Private Limited, an associate company, effective March 31, 2026. The consideration for the transaction is Rs. 11.90 Crores.The decision, based on a recommendation from the Audit Committee, was made in accordance with Section 188 of the Companies Act, 2013. The consideration was determined based on an independent valuation conducted by a registered valuer.Byte Technosys Private Limited specializes in IT infrastructure management services, software...

ACME Solar Holdings Ltd. Commissions Third Phase of Rajasthan BESS Project ACME Solar Holdings Ltd. announced the commissioning of the third phase of a Battery Energy Storage System (BESS) project located in Badi Sid, Rajasthan. The project, undertaken by the company’s wholly-owned subsidiary, ACME Sun Power Private Limited, adds 33.333 MW/160.51 MWh of capacity.The commercial operation date for the newly commissioned phase is April 2, 2026. This brings the total commissioned capacity of the project to 100.003 MW/481.500 MWh, out of a total planned capacity of 300 MW/1409.34 MWh.The update follows previous announcements on March 6, 2026, and March 12, 2026, regarding the project's progress.Source:

Blue Dart Express Limited Receives Income Tax Demand Notice Blue Dart Express Limited announced it received a notice of demand under Section 156 of the Income Tax Act, 1961, on March 30, 2026. The notice pertains to Assessment Year 2018-19 and includes a demand of Rs. 70,58,98,292.The demand primarily arises from a disallowance of Corporate Social Responsibility (CSR) deductions claimed under Section 80G of the Income-tax Act, 1961. The tax officer disallowed a deduction of Rs. 1,68,43,609. Additionally, the notice includes amounts related to short grants of advance tax/self-assessment tax, levy of interest under Sections 234B and 234C of the IT Act, and refunds previously issued.Blue Dart Express Limited is currently evaluating the...

Athena Global Technologies Acquires Medleymed Healthcare Solutions, Disinvests Subsequently Athena Global Technologies Limited announced on March 31, 2026, the acquisition of 100% equity shareholding of Medleymed Healthcare Solutions Private Limited. As a result of the acquisition, Medleymed Healthcare Solutions Private Limited became a wholly-owned subsidiary (WOS) of Athena Global Technologies Limited. Subsequently, the company also announced its disinvestment in Medley Medical Solutions Private Limited, also a subsidiary.The acquisition, valued at Rs. 10,000, is considered a related party transaction as Medleymed Healthcare Solutions Private Limited is a step-down subsidiary of Athena Global Technologies Limited. The transaction...

Ramky Infrastructure Limited Announces Sale of Subsidiary Visakha Pharmacity Limited Hyderabad, March 31, 2026 – Ramky Infrastructure Limited (RIL) announced that it has entered into a Share Purchase Agreement for the sale of shares held in its subsidiary, Visakha Pharmacity Limited (VPCL), on March 30, 2026. The decision follows approval by the company’s Board of Directors on March 28, 2026. Consideration for the transfer of shares has been received. Share transfers will be completed within 10 days from the execution of the agreement.The sale is to Brij Construction Company Private Limited (BGCCPL). Gopal Limited, a promoter, is a buyer in the transaction. The transaction does not constitute a related party transaction.RIL is...

TVS Supply Chain Solutions Receives Order Regarding Tax Liability TVS Supply Chain Solutions Limited has received an order from the Assistant Commissioner of State Tax, Madhya Pradesh, pertaining to the financial year 2019-20. The order alleges short payment of outward liability.The order, received on March 30th, 2026, assesses a tax demand of Rs. 57,88,108.According to the company, this tax demand is not expected to have a material impact on the financials, operations, or other activities. TVS Supply Chain Solutions intends to file a response and appeal the order before the relevant authorities within the stipulated timeframe.Source:

Infosys Limited Secures ₹1,745 Crore Refund Following Tax Order Assessments Infosys Limited announced it has received assessment orders from the Income-tax Department, Government of India, pertaining to Assessment Years 2013-14, 2017-18, 2018-19, 2019-20, 2020-21 and 2021-22. The orders were received on March 26, 2026, March 27, 2026 and March 31, 2026.The company anticipates a cumulative refund of ₹1,745 crore, including interest, as a result of these assessments.Infosys is currently evaluating the impact of the orders on its financial statements for the quarter and year ended March 31, 2026.Source: