Markets

Elecon Engineering Company Limited Pays Penalty to Obtain Release Order Elecon Engineering Company Limited announced that it has paid a penalty of ₹ 11,98,800 to the Dy. Commissioner of State Tax, Enforcement, Div-8, Surat, to obtain a release order related to a dispute concerning a transport vehicle detained due to a name mismatch in a consignment.The incident occurred on March 30, 2026. Elecon Engineering Company Limited anticipates filing an appeal for a refund against the order before the appropriate authority and does not foresee a material impact on its financial or operational activities. The company received formal notice from the authority on March 31, 2026.Details of the Action: The following table summarizes the details...

IB Infotech Enterprises Ltd. to Sub-divide Shares IB Infotech Enterprises Limited announced that its Board of Directors approved a proposal for the sub-division of shares at a meeting held on March 31, 2026. The meeting commenced at 3:00 p.m. and concluded at 4:30 p.m.The company plans to sub-divide 1 (one) equity share with a face value of Rs. 10/- each into 10 (ten) equity shares with a face value of Re. 1/- each. This move aims to improve liquidity, make the shares more affordable for small investors, and broaden the investor base. The sub-division is subject to shareholder approval through Postal Ballot.The Board also approved altering Clause V of the Memorandum of Association to reflect the change in share capital resulting...

Desco Infratech Ltd. Responds to Trading Volume Inquiries Desco Infratech Ltd. addressed inquiries regarding a recent increase in trading volume for its security, according to a communication released March 31, 2026. The company responded to a communication from the BSE Limited dated March 30, 2026, referencing Reference No.: L/SURV/ONL/PV/APJ/2025-2026 /3470.Desco Infratech Ltd. affirmed adherence to the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The company stated it has consistently informed stock exchanges of events and information as mandated by Regulation 30 of the SEBI LODR Regulations.The company reported that, to the best of its knowledge, there is no...

NTPC Green Energy Reports Commercial Operation of Additional Capacity NTPC Green Energy Limited, a subsidiary of NTPC Limited, announced the commencement of commercial operations for additional renewable energy capacity on April 2, 2026.According to a filing, the fourth part capacity of 37.5 MW Solar from a 150 MW Solar Project in Gujarat, operated by Ayana Renewable Power Four Private Limited, a step down subsidiary of the joint venture ONGC NTPC Green Private Limited, began commercial operations.Additionally, the seventh part capacity of 13.2 MW Wind from a 100 MW Hybrid Project in Gujarat, also operated by Ayana Renewable Power Four Private Limited, a step down subsidiary of the joint venture ONGC NTPC Green Private Limited...

SML Mahindra Limited Schedules Board Meeting to Review FY2025-26 Financial Results SML Mahindra Limited, a manufacturer of trucks and buses, announced that a meeting of its Board of Directors is scheduled for April 20, 2026. The primary agenda for the meeting includes reviewing and approving the Audited Financial Results for the fourth quarter and the full financial year ending March 31, 2026 (FY 2025-26). The board will also consider and potentially recommend a dividend on equity shares for the year.In accordance with the company's insider trading policy, the trading window for designated persons, including their immediate relatives, will be closed from April 1, 2026, to April 23, 2026, inclusive. This restriction prohibits trading...

Vedanta Limited Appoints New Director, Extends Timeline for Scheme of Arrangement Vedanta Limited announced several key changes following a board meeting held on March 31, 2026. Mr. Dindayal Jalan will cease to hold his position as a Non-Executive Independent Director with effect from March 31, 2026, and the company expressed appreciation for his contributions.To fill the vacancy, Vedanta Limited appointed Mr. S.V. Murali Dhar Rao as an Additional Director, designated as a Non-Executive Independent Director, for a term of one year, effective April 1, 2026, pending shareholder approval. Mr. Rao brings over 3 decades of experience in the securities market, including a long tenure at the Securities & Exchange Board of India (SEBI), where...

Krishana Phoschem Limited Commences Commercial Production of DAP/NPK Fertilizer Krishana Phoschem Limited announced the commencement of commercial production at its Diammonium Phosphate & Nitrogen and phosphorus (DAP/NPK Complex) fertilizer plant located in Meghnagar, Madhya Pradesh, effective March 31, 2026.The expansion increases the company’s installed production capacity of DAP/NPK to 4,95,000 Metric Tonnes Per Annum.Source:

Refex Renewables Completes Acquisition of 91.43% Stake in Spectrum Renewable Energy Refex Renewables & Infrastructure Ltd., a kelex group company, announced the completion of the acquisition of a 91.43% stake in Spectrum Renewable Energy Private Limited (SREPL) during fiscal year 2026. The acquisition was carried out by Refex Sustainability Solutions Limited (RSSL), a wholly-owned subsidiary of Refex Renewables.The acquisition occurred in stages, with RSSL acquiring 26.07% on August 5, 2025, an additional 45.98% on August 8, 2025, and a final 19.38% stake on March 30, 2026. The transaction, effective from February 11, 2025, follows a Share Purchase Agreement initially announced on January 28, 2025. RSSL intends to acquire the...

PB Fintech Limited Invests in Genesis Group Limited, Utilizing IPO Proceeds PB Fintech Limited announced that its wholly-owned subsidiary, Icall Support Services Private Limited, has invested AED 1,20,06,140 (approximately ₹313.84 million) in the shares of Genesis Group Limited. This investment, made on March 31, 2026, fully utilizes ₹309.21 million of IPO proceeds previously approved by shareholders for expansion outside of India.Genesis Group Limited is the holding company of Policybazaar Middle East Insurance Brokers LLC, an insurance broker in Dubai, UAE. The transaction is classified as a related-party transaction and was completed on an arm’s length basis.According to a report by M/s BMSA & Associated Chartered Accountant, New...

Shri Hare-Krishna Sponge Iron Limited Postpones Commercial Production of Captive Power Plant Shri Hare-Krishna Sponge Iron Limited announced a revision in the timeline for the commencement of commercial production for its captive power plant project. The postponement is attributed to challenges in procuring Liquefied Petroleum Gas (LPG) due to the ongoing war situation, compounded by disruptions in transportation and logistics impacting the timely receipt of necessary components.These factors have delayed testing, commissioning, and trial run operations for the power plant. Commercial production is now anticipated to begin by April 2026, contingent upon the successful completion of trial runs and stabilization of the facility.The...

Craftsman Automation Limited Receives Tax Order from CGST Faridabad Craftsman Automation Limited announced that the Office of the Deputy Commissioner (DC), Division-West, CGST Faridabad, issued an order on March 30, 2026, under Section 74 of the Central Goods and Services Tax Act, 2017, for the Financial Year 2019-20.The order pertains to a tax demand of Rs. 11,07,211, along with applicable interest and a penalty equivalent to the tax amount, related to purported inadmissible Input Tax Credit (ITC). Additionally, a demand of Rs. 40,74,968 is outstanding for interest associated with alleged wrongful availment and utilization of ITC.The company is currently evaluating the implications of the order and plans to pursue legal action...

Dynamic Cables Limited Receives Favorable Income Tax Appeal Order Dynamic Cables Limited announced on March 30, 2026, that it received a favorable order from the Commissioner of Income-tax (Appeals) regarding appeals filed against assessment orders passed under Section 147 of the Income-tax Act, 1961 for Assessment Years 2017-18 and 2019-20.The company had previously received assessment orders from the Office of the Assistant Commissioner of Income Tax. The appeals concerned tax demands of Rs. 3,25,87,400 and Rs. 1,63,92,916, stemming from disallowance of certain expenses and additions to income.The order allows the company’s appeal and deletes the disallowance of expenses and additions to income. The company does not anticipate any...

Mukand Ltd. Completes Slump Sale of Industrial Machinery Business Mukand Ltd. announced the completion of a slump sale of a portion of its Industrial Machinery Business to Mukand Heavy Engineering Limited (MHEL), a wholly-owned subsidiary, as of March 31, 2026. The transferred business includes designing, manufacturing, erecting, and commissioning EOT Cranes, other materials handling equipment, and process plant equipment.The transaction, initially announced on May 16, 2025, and October 18, 2025, involved a purchase consideration of Rs 45.78 Crs. This was discharged through the allotment of 26,347 fully paid-up equity shares by MHEL. Financial Details of the TransactionDetailAmount (Rs Crs)Purchase Consideration45.78Shares...

Kamdhenu Ventures Approves Investment in Subsidiary Kamdhenu Colour and Coatings Limited Kamdhenu Ventures Limited announced on Tuesday, March 31, 2026, that its Board of Directors approved an investment of up to Rs. 21,00,00,000 into its wholly-owned subsidiary, Kamdhenu Colour and Coatings Limited (KCCL).The investment will be made through a right issue, preferential issue, or other fundraising methods by KCCL, in one or more tranches, within a period of one year. An Investment Committee has been formed to oversee the investment process.Kamdhenu Ventures Limited, listed on the National Stock Exchange (NSE Symbol: KAMOPAINTS) and BSE (Scrip Code: 543747), operates from its registered office in Gurugram, Haryana. Further details...

Oricon Enterprises Ltd. Sells Stake in Tecnocap Oriental Private Limited Oricon Enterprises Ltd. announced March 31, 2026, that it signed a Share Purchase Agreement to sell a 25% stake in Tecnocap Oriental Private Limited to TGP TECNOCAP GROUP PARTECIPAZIONI S.R.L. The transaction involves 246,833 equity shares.The consideration for the sale is Rs. 5,50,00,000. TGP TECNOCAP GROUP PARTECIPAZIONI S.R.L. is a company incorporated under the laws of Italy, with its registered office in Cava de' Tirreni.During the financial year ending March 31, 2025, Tecnocap Oriental Private Limited contributed a share of profit of Rs. 74.75 lakhs to Oricon Enterprises Ltd.The Share Purchase Agreement was signed on March 31, 2026. The expected date of...

Muthoot Finance Faces ₹977.81 Crore Tax Demand Muthoot Finance Limited announced that the Office of the Assistant Commissioner of Income Tax, Central Circle 1, Kochi, issued an order on March 30, 2026, imposing a tax demand of ₹977,81,10,347.The company stated that it believes the basis for the additional tax demand is not tenable and plans to file an appeal. Muthoot Finance affirmed that the order will not materially impact its financial, operational, or other activities.The tax demand stemmed from disallowances related to ESOP discounts, non-deduction of TDS on foreign payments, and disallowance of expenses for bad debts write-off. Additionally, the assessing officer assessed the income at a rate of 34.944% instead of 25.168%...

Lakshmi Finance & Industrial Corporation Limited Announces CFO Resignation Lakshmi Finance & Industrial Corporation Limited announced the resignation of its Chief Financial Officer (CFO), U. Vijay Kumar, effective March 30, 2026. Kumar’s departure is attributed to his superannuation.According to a company statement, Kumar confirmed that his resignation was solely due to retirement and that there were no other material reasons for his departure.The company provided the following details regarding the change in leadership:Reason for changeDate of appointment / cessationBrief ProfileResignation of U. Vijay Kumar as CFOMarch 30, 2026Not ApplicableHarish Chandra Prasad Kanuri, Managing Director, provided the information.Source:

Windsor Machines Ltd. Commences Manufacturing at New Rajkot Facility Windsor Machines Ltd. has begun manufacturing operations at its new, state-of-the-art integrated manufacturing facility located in Chibhda, Rajkot, Gujarat. The commencement date for production at the new facility was March 31, 2026.The company previously operated its manufacturing facility at Industrial Plot No. 5403, 5404 and 5405, Phase IV, GIDC, Vatva, Ahmedabad. The shift to the new location, situated at Survey No. 1147, 1148, 1149 and 1177, Village: Chibhda, Sub-District: Lodhika, District: Rajkot, Gujarat, is substantially complete.While a few residual operations remain at the Vatva facility, the company anticipates a full transition to the Rajkot facility...

Sai Silks (Kalamandir) Limited Receives Favorable Outcome in Promoter’s Income Tax Appeal Sai Silks (Kalamandir) Limited announced that appeals filed by Mr. Nagakanaka Durga Prasad Chalavadi, a Promoter of the company, against an income tax demand have been largely resolved. The appeals were related to proceedings initiated on May 2, 2023, by the Office of the Deputy Commissioner of Income Tax.Commissioner of Income Tax appellate orders, dated March 30, 2026, substantially favored the Promoter, overturning the original demand of 58.33 Crore. A minor portion, amounting to 85.79 lakhs, was disallowed due to documentation-related issues, resulting in an estimated tax liability of approximately 50 lakhs, to be discharged by the Promoter...

Mayasheel Ventures Limited Receives Letter of Acceptance for ₹306.53 Crore Infrastructure Project Mayasheel Ventures Limited (MVL), in a joint venture with M/s JSP Projects Pvt. Ltd., has received a Letter of Acceptance (LOA) for a significant infrastructure project in Arunachal Pradesh. The project, awarded by the Ministry of Road Transport & Highways (MoRTH), involves the construction of a 27.43-kilometer stretch of road (Package 1) on NH-913 (Frontier Highway) to Intermediate Lane on an Engineering, Procurement, and Construction (EPC) mode.The order value for the project is ₹3,06,53,00,000, excluding Goods and Services Tax (GST). The project is expected to be completed within 36 months.MVL will primarily execute the project in...