Markets

Garware Hi-Tech Films Limited Receives Income Tax Demand Notice Garware Hi-Tech Films Limited announced today, March 31, 2026, that it received a communication from the Income Tax Department. The company received an order under Section 154 along with a notice of demand for ₹18.37 crore under Section 156 of the Income-Tax Act, 1961.The notice pertains to the Assessment Year 2020-21. According to the company, it believes it has strong grounds to oppose the order and intends to file a rectification application. The company noted that the order was issued without prior notice and without providing an opportunity to be heard (Principle of Natural Justice). Furthermore, the credit of Minimum Alternate Tax of ₹15.12 crore was not taken into...

Zaggle Prepaid Ocean Services Acquires 100% Stake in Rivpe Technology Private Limited Zaggle Prepaid Ocean Services Limited announced the acquisition of a 100% equity stake in Rivpe Technology Private Limited (RTPL) on March 30, 2026. The acquisition includes 67,813 equity shares with a face value of Rs. 10 each.As a result of the acquisition, RTPL has become a wholly owned subsidiary of Zaggle Prepaid Ocean Services Limited. Furthermore, Omnicash Fintech Private Limited, a wholly owned subsidiary of RTPL, is now a step-down wholly owned subsidiary of Zaggle Prepaid Ocean Services Limited.The company is currently in the process of acquiring Compulsory Convertible Preference Shares (CCPS) from existing holders, following a Share...

Vdeal System Limited Receives New Order Worth ₹ 12720079.04 Vdeal System Limited announced it has been awarded a new order for the supply of Power System & Automation Panels from JUPITER TATRAVAGONKA RAILWHEEL. The order, valued at ₹ 12720079.04 (Rupees One Crore Twenty-Seven Lakh Twenty Thousand Seventy-Nine and Four Paise Only), is scheduled to be delivered on or before July 1, 2026.The contract involves the supply of Power System & Automation Panels. According to details provided, the order does not constitute a related party transaction.ParticularsDetailsName of the entity awarding the order(s) /contract(s);JUPITER TATRAVAGONKA RAILWHEELwhether order(s) / contract(s) is awarded to domestic/ international entityDomestic...

IndiGo Appoints William Walsh as Chief Executive Officer InterGlobe Aviation Limited, the parent company of IndiGo, announced the appointment of Mr. William Walsh as its Chief Executive Officer, subject to receipt of security clearance from the Ministry of Civil Aviation (MoCA). Mr. Walsh is expected to join the company no later than August 3, 2026.Mr. Walsh, currently the Director General of IATA (International Air Transport Association), previously held the position of CEO at British Airways and IAG (International Airlines Group).“I am thrilled that Willie will be at the helm of IndiGo," said Mr. Vikram Singh Mehta, IndiGo's Chairman. "His experience in managing large-scale airline operations and navigating complex market dynamics...

Tech Mahindra Schedules Board Meetings to Review FY26 Results Tech Mahindra Ltd. announced it will hold Board of Directors meetings on Tuesday, April 21, 2026, and Wednesday, April 22, 2026, to review and approve the Audited Standalone and Consolidated Financial Results and Statements for the fourth quarter and fiscal year ended March 31, 2026. The financial results will be declared on Wednesday, April 22, 2026.In accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the trading window for the company's securities will be closed from Wednesday, March 25, 2026, to Friday, April 24, 2026, inclusive. The trading window will reopen on Saturday, April 25, 2026, two days after the...

Kalyani Steels Completes Acquisition of Stake in Clean Renewable Energy KK 1B Private Limited Kalyani Steels Limited has finalized its acquisition of equity shares in Clean Renewable Energy KK 1B Private Limited, a special purpose vehicle (SPV) of Hero Rooftop Energy Private Limited. The acquisition was initially announced on March 27, 2026.The company acquired 1,034,453 equity shares with a face value of Rs.10 each, alongside a premium of Rs.18.37 per equity share. This represents 4.85% of the paid-up equity capital of Clean Renewable Energy KK 1B Private Limited.Below is a table summarizing the details of the acquisition:DetailInformationAcquirerKalyani Steels LimitedSPVClean Renewable Energy KK 1B Private Limited...

Hexaware Technologies Faces Penalty for Filing Delay Hexaware Technologies Ltd. announced today that it has received a compounding order from the Reserve Bank of India (RBI) related to a delay in filing Form FC TRS. The order pertains to equity shares acquired by HT Global Holdings B.V. in 2021 during the delisting process.According to the order, Hexaware Technologies will pay a penalty of INR 11,64,167. The company stated that it will proceed to comply with the order.The RBI communication was received on March 30, 2026. The violation involved a delay in filing the FC TRS form for shares transferred to HT Global Holdings B.V. during the 2021 delisting process.Hexaware Technologies confirmed that the order is not expected to have a...

Quess Corp Ltd. Receives Order Regarding GST Penalty Quess Corp Ltd. announced it received an order from the Office of Assistant Commissioner of CGST & C.Ex., Division-X, Mumbai East, Mumbai, imposing a penalty of 39.36 lakhs. The order, dated March 18, 2026, was received on March 30, 2026.The authority alleges a short payment of tax of 2.68 lakhs and excess availment of Input Tax Credit (ITC) of 36.67 lakhs. The discrepancies relate to filings in Forms GSTR-3B, GSTR-1, and GSTR-2A.According to the company, the order is not expected to have a material impact on its financials or operations. Quess Corp Ltd. intends to file an appeal with the Appellate Authority.Sl. No.ParticularsDetails1Name of the authorityOffice of...

Balkrishna Industries Receives Adjudication Order Regarding Input Tax Credit Balkrishna Industries Ltd. (BKT) announced it received an adjudication order from the Assistant Commissioner of CGST, Division Bhuj, Gandhdham (Kutch) on March 30, 2026. The order, pertaining to the financial years 2019-20 and 2020-21, concerns a demand of Rs. 93.73 Lakhs along with penalties related to the disallowance of input tax credit.The adjudication order was issued under section 74(1) of the CGST Act, 2017, along with corresponding provisions of the Gujarat State GST Act, 2017 and Section 20 of the IGST Act, 2017. The company received notification of the order via email at 3:46 p.m. (IST).According to the company, the order has no anticipated...

AI, Cybersecurity, Digital, and Data Skills Emerge as India’s Most Critical Future Capabilities: NIIT India Skills Gap Report New Delhi, March 31, 2026 – NIIT Ltd. launched the NIIT India Skills Gap Report 2026, a nationwide study conducted in partnership with YouGov. The survey, based on insights from 3,500 respondents spanning students, working professionals, recruiters, CXOs, and academic leaders, highlights how digital, data, and cybersecurity skills are emerging as foundational capabilities for employability and workforce growth.The study draws responses from 2,800 students and working professionals and 700 recruiters, CXOs, senior leaders, and academic heads across industries including IT/ITeS, BFSI, manufacturing, healthcare...

Greenply Industries Limited Receives Order Regarding Input Tax Credit Greenply Industries Limited announced it received an order from the Office of the Senior Joint Commissioner of State Tax, Directorate of Revenue Intelligence and Enforcement, Government of West Bengal, dated March 30, 2026.The order, related to the fiscal year 2019-20, concerns input tax credit availed from vendors. The total tax demand initially amounted to Rs. 75,82,119, which the company reports was already paid under protest. Additionally, interest of Rs. 90,86,079 and a penalty of Rs. 75,82,119 were confirmed by the order.The company states that it has fulfilled all conditions prescribed under the WBGST/CGST Act, 2017, regarding input tax credit. Greenply...

Ratnaveer Precision Engineering Limited Receives Approval for ₹338 Crore Copper Clad Laminate Project Ratnaveer Precision Engineering Limited has received approval under the Electronics Component Manufacturing Scheme (ECMS) for its Copper Clad Laminates (CCL) project, the company announced Monday, March 30, 2026. The project will see an investment of approximately ₹338 Crore over the next three years to establish one of India’s first fully integrated CCL manufacturing facilities in Vadodara, Gujarat.The approval was formally received by Managing Director Vijay Sanghavi and Seema Sanghavi from Shri Ashwini Vaishnaw, Minister of Railways, Electronics & IT, and Information & Broadcasting, in New Delhi.Project Details The CCL project...

Kwality Wall's (India) Limited Announces Board Appointments Following Acquisition Mumbai, 31st March 2026 - Kwality Wall's (India) Limited (KWIL), now part of The Magnum Ice Cream Company (TMICC), announced the appointment of Mr. Abhijit Bhattacharya and Mr. Tahir Toloy Tanridagli to its Board of Directors, effective March 30, 2026. These appointments follow the acquisition of a controlling stake in KWIL by The Magnum Ice Cream Company HoldCo 1 Netherlands B.V (TMICC HoldCo).Mr. Abhijit Bhattacharya has been appointed as an Additional (Non-Executive and Non-Independent) Director and Chairperson of the Board. Mr. Tahir Toloy Tanridagli has been appointed as an Additional (Non-Executive and Non-Independent) Director.Mr. Tahir Toloy...

Servotech Renewable Power System Ltd. Appoints Prem Prakash as Chief Operating Officer New Delhi, 31st March, 2026: Servotech Renewable Power System Ltd. (NSE: SERVOTECH) announced the appointment of Prem Prakash as Chief Operating Officer (COO), effective April 01, 2026. The appointment is intended to strengthen the company’s senior leadership as it expands operations and its global presence across clean energy and EV charging solutions.Prem Prakash brings over 25 years of leadership experience across industries including electric vehicle infrastructure, green technology, consumer durables, FMCG, media, e-commerce, and fintech. He holds degrees from FMS, NLSIU Bangalore, and St. Xavier's College Ranchi.In his role, Prem Prakash...

Mahindra Lifespace Developers Limited Reports Dismissal of Litigation Mahindra Lifespace Developers Limited announced that a litigation between Mr. Rajesh Sharma and Mahindra World City (Jaipur) Limited (MWCJL), a subsidiary of the company, has been dismissed in favor of the company/MWCJL. The order was issued on March 30, 2026, by the Court of the Additional District Judge, Jaipur.Previously, the company had intimated regarding the litigation on August 14, 2023. The details of the outcome are provided in Annexure A.Source:

KSH International Ltd. Appoints Hukumchand Lakhotiya as Chief Executive Officer Pune, India, March 31, 2026 – KSH International Limited (BSE: 544664/NSE: KSHINTL), a leading Indian manufacturer and largest exporter of magnet winding wires, announced the appointment of Mr. Hukumchand Lakhotiya as Chief Executive Officer (CEO), effective April 02, 2026.Mr. Lakhotiya brings over thirty years of domestic and international experience in the electrical and power sectors. His previous roles include leadership positions at CG Power & Industrial Systems Ltd. and Schneider Electric Pte Ltd. (Singapore), spanning areas like P&L management, multi-plant operations, sales, business development, green energy, digitalization, and project management...

Vakrangee Ltd. Receives Demand Order from CGST & Central Excise Vakrangee Limited announced that it received an order on March 30, 2026, from the Office of the Assistant Commissioner of CGST & Central Excise, Mumbai. The order details an aggregate demand of Rs. 25,17,600 in the Maharashtra State.The demand of Rs. 25,17,600 is comprised of a CGST amount of Rs. 12,58,800 and an SGST amount of Rs. 12,58,800. The order was issued under section 122(1)(ii) of the CGST Act, 2017, along with similar provisions under the MGST Act, 2017, and section 20 of the IGST Act, 2017.The company stated that the demand relates to a disallowance of Input Tax Credit. Vakrangee Limited believes the demand is not maintainable and intends to file an appeal...

Tamilnad Mercantile Bank Receives Income Tax Demand of Rs. 1775.4 Million Tamilnad Mercantile Bank Limited announced that the Assessment Unit, Income Tax Department, issued a demand notice of Rs. 17,75,40,410 (Rupees Seventeen Crore Seventy-Five Lakh Forty Thousand Four Hundred Ten Only) on March 31, 2026.The demand, communicated via a notice dated March 30, 2026, stems from the disallowance of a claim made under Section 36(1)(viia) of the Income Tax Act, 1961 for Assessment Year 2016-17.According to the Assessment Unit, the action was taken under Section 156 of the Income Tax Act, 1961. The bank intends to file an appeal and anticipates a favorable outcome. Management stated that the demand is not expected to have a material impact...

Advait Energy Transitions Limited Secures Order Worth ₹53.84 Crore Advait Energy Transitions Limited (formerly Advait Infratech Limited) announced it has received an order from Paschim Gujarat Vij Company Ltd. (PGVCL) on March 30, 2026. The order is for the supply, installation, testing, and commissioning of 11 KV Medium Voltage Covered Conductor (MVCC) with its accessories in the Bhavnagar district of PGVCL, as part of the Revamped Reforms-Based and Results-Linked, Distribution Sector Scheme (Package-8).The contract is for 9 months and the total consideration, including taxes, is ₹53,83,92,519.78 (₹53.84 crore). The work involves 11 KV MVCC under the RDSS scheme.Details of the order, as required under SEBI guidelines, are presented...

Advait Energy Transitions Limited Secures Order Worth ₹55.14 Crore Advait Energy Transitions Limited (formerly known as Advait Infratech Limited) has received an order from Paschim Gujarat Vij Company Ltd. (PGVCL) for ₹55,14,40,227.34 (Fifty-Five Crore Fourteen Lakh Forty Thousand Two Hundred Twenty-Seven and Thirty-Four Paise), including taxes.The order, awarded on March 30, 2026, involves the supply, installation, testing, and commissioning of 11 KV Medium Voltage Covered Conductor (MVCC) with its accessories in Morbi District (Morbi circle) of PGVCL under the Revamped Reforms-Based and Results-Linked, Distribution Sector Scheme (Package-7). The project is expected to be completed within nine months.Additional details regarding...