Markets

Kaveri Seed Company Limited Wins Appeal Against Income Tax Demand Kaveri Seed Company Limited announced on March 31, 2026, that it has won an appeal against an Income Tax demand for the Assessment Year 2020-21. The decision, issued by the Office of the Commissioner of Income Tax (Appeals) - 11, Hyderabad, sets aside a previously raised demand.The Income Tax Authorities had initially assessed a demand of Rs. 73,25,39,490, primarily due to the disallowance of an exemption claimed on agricultural income. The Appellate Authority has now allowed the company’s claim, classifying the income as agricultural income and consequently eliminating the demand.This development follows a prior disclosure made by Kaveri Seed Company Limited on...

Quest Flow Controls Limited Divests Subsidiary, Sharpens Strategic Focus Goa, March 31, 2026 – Quest Flow Controls Limited (BSE: 543982), a manufacturer of valves and flow control solutions, has approved the divestiture of its entire stake in H2O Dynamics India Limited, a subsidiary of the Company. The stake was divested to Stellarin Research and Development Private Limited for a consideration of ₹ 7,35,00,000, with the transaction expected to be completed within two months.H2O Dynamics India Limited reported net revenues of ₹ 811.31 Lakhs and carried a net worth of ₹134.96 Lakhs in FY 2024-25.The divestiture represents a strategic move to refocus the Company's portfolio on its core strength in valves and valve control systems...

Adani Energy Solutions Acquires 100% of South Kalamb Power Transmission Limited Adani Energy Solutions Ltd. announced on March 30, 2026, that it executed a Share Purchase Agreement (SPA) with PFC Consulting Limited (PFCCL) to acquire 100% of the equity shares of South Kalamb Power Transmission Limited ('SKPTL'). The agreement was finalized at approximately 3:00 p.m. IST.SKPTL, incorporated in India on September 30, 2025, operates within the Electric Utilities sector as a transmission service provider. The acquisition is intended to bolster Adani Energy Solutions' strategy for enhancing shareholder value through both organic and inorganic growth opportunities. SKPTL strengthens South Kalamb’s evacuation capability by upgrading the...

Shivalik Bimetal Controls Limited Announces Promoter Group Share Acquisition New Delhi, India – March 31, 2026 – Shivalik Bimetal Controls Limited (SBCL) announced that members of its Promoter & Promoter Group acquired shares through open market purchases on March 27 and March 30, 2026. The total acquisition comprised 241,000 equity shares, representing approximately 0.42% of the company's equity share capital.The acquisitions included 86,750 shares by Mr. Kabir Ghumman, 86,750 shares by Mr. Sumer Ghumman, and 67,500 shares by Sirmaur Hospitality Pvt. Ltd."We remain confident in Shivalik's long-term future and in the strength of the business we are continuing to build," said Mr. Kabir Ghumman, Managing Director. "These purchases...

MAS Financial Services Ltd. Acquires Stake in Subsidiary, MAS Rural Housing & Mortgage Finance Limited March 31, 2026 – MAS Financial Services Limited announced the acquisition of equity shares in its subsidiary, MAS Rural Housing & Mortgage Finance Limited (MRHMFL), on a rights issue basis. The company received an allotment of 12,67,170 equity shares, representing 1.20% of MRHMFL’s total equity share capital, as of March 31, 2026.The investment totaled Rs.24,99,99,969 (Rupees Twenty-Four Crores Ninety-Nine Lakhs Ninety-Nine Thousand Nine Hundred Sixty-Nine Only). This investment will be in compliance with the Companies Act, 2013 and applicable regulations.MRHMFL, incorporated on July 24, 2007, is a housing finance company focused...

Leela Palaces Hotels & Resorts Receives Order Regarding Subsidiary Leela Palaces Hotels & Resorts Limited announced that Tulsi Palace Resort Private Limited, a material subsidiary, received an order from the Office of the Assistant Commissioner, Central Goods and Services Tax Division, Jaipur East, on March 30, 2026.The order, passed under Section 74 of the CGST Act, 2017, confirms a demand of INR 39,07,974, along with interest and penalty. The order alleges wrongful reduction of output tax liability through incorrect reporting of credit notes.According to the company, there is no material impact on its financial, operational, or other activities. Tulsi Palace Resort Private Limited is evaluating legal remedies and intends to file...

Reliance Industries Receives Penalty Order from Gujarat State Tax Authority Reliance Industries Limited announced it has received a penalty order from the Assistant Commissioner of State Tax in Junagadh, Gujarat, dated March 30, 2026. The order levies a penalty of Rs. 15,38,402 under Section 74 of the Gujarat Goods and Services Tax, 2017.The penalty is related to an allegation of incorrect availment of input tax credit by the company. Reliance Industries intends to file an appeal against the order.According to the company, the financial impact of the order is limited to the amount of the levied penalty. The order is not expected to affect the company's operations or other activities.The company received notification of the order...

Minda Corporation Subsidiary Receives GST Order, Anticipates Favorable Appeal Minda Corporation Limited announced that Minda Instruments Limited, a material subsidiary, has received an order from the Joint Commissioner of GST & Central Excise in Chennai, Tamil Nadu. The order, dated March 30, 2026, confirms a demand for Goods and Services Tax (GST) amounting to Rs 4,75,88,732 for the fiscal years 2019-2020 and 2020-2021. The demand is related to an alleged short payment of GST due to misclassification of goods under the Central Goods and Services Tax Act, 2017, and similar provisions under the Tamil Nadu Goods and Services Tax Act 2017.The order also includes applicable penalties and interest. Minda Corporation intends to file an...

Servotech Renewable Power System Ltd. Appoints Vipin Kaushik as Chief Financial Officer New Delhi, 31st March, 2026: Servotech Renewable Power System Ltd. (NSE: SERVOTECH), a manufacturer of renewable energy and EV charging solutions, announced the elevation of Vipin Kaushik to Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective April 01, 2026.The appointment was approved by the Board of Directors following a recommendation from the Nomination and Remuneration Committee and the Audit Committee. Kaushik, a Chartered Accountant and member of the ICAI, brings over 20 years of experience in corporate finance, strategy, accounts, taxation, and compliance. He holds diplomas in International Financial Reporting from...

Eurogrip Tyres Expands Retail Presence with New Store in Ludhiana Ludhiana, March 31, 2026 – Eurogrip Tyres, a leading 2 & 3-wheeler tyre brand from TVS Srichakra Ltd., announced the opening of a new exclusive retail store in Ludhiana, Punjab. This marks Eurogrip’s 14th signature store in India, expanding its retail presence and commitment to providing customers with a comprehensive tyre and 2-wheeler care experience.“We continue to bring high-quality products and dependable services closer to our customers," said Mr. T.K.Ravi, Chief Operating Officer of TVS Srichakra Ltd. "Ludhiana is a key market for the brand, and this new store will allow riders to easily access our complete tyre portfolio along with expert support and services.”...

ZF Commercial Vehicle Control Systems India Ltd. Secures ADAS Business Nomination ZF Commercial Vehicle Control Systems India Limited has secured another Advanced Driver Assistance Systems (ADAS) business nomination from an Indian Commercial Vehicle Original Equipment Manufacturer (OEM).The company's ISIN is INE342J01019. The Scrip code is 533023 and the Trading Symbol is ZFCVINDIA.C V Kavviya, Compliance Officer, announced the nomination.Source:

Eurogrip Tyres Expands Retail Presence with New Store in Ahmedabad Ahmedabad, March 31, 2026 – Eurogrip Tyres, a leading 2 & 3-wheeler tyre brand from TVS Srichakra Ltd., has opened a new branded retail store in Ahmedabad. This marks the brand's 13th signature store in India, reinforcing its commitment to providing customers with a complete tyre and 2-wheeler care experience.According to Mr. T.K.Ravi, Chief Operating Officer of TVS Srichakra Ltd., Ahmedabad is a key market due to its growing demand for quality automotive services. The new store offers Eurogrip's full range of two-wheeler tyres and related tubes catering to a diverse range of vehicles, from scooters to superbikes.The store provides services including professional...

Kross Ltd. Announces Acquisition of Shares by Promoter Anita Rai Kross Ltd. announced that Anita Rai, Promoter and Whole Time Director, has acquired 30,000 equity shares in the company through open market transactions. The acquisition occurred on March 30, 2026.According to a regulatory filing, this acquisition represents 0.05% of the total issued and paid-up share capital of Kross Ltd. Following the acquisition, Anita Rai's holding in the company has increased to 1,19,02,170 equity shares, representing 18.45% of the total share capital.Prior to the acquisition, Anita Rai held 1,18,72,170 shares, representing 18.40% of the company’s share capital. The total equity share capital of Kross Ltd. before the acquisition was 6,45,09,422...

Affordable Robotic & Automation Limited Receives In-Principle Approval for Preferential Issue Affordable Robotic & Automation Limited (ARAPL) announced on March 31, 2026, that it has received in-principle approval from the BSE Limited and the National Stock Exchange of India Limited (NSE) for a proposed preferential issue of equity shares.The Board of Directors previously approved a preferential issue of up to 6,04,839 equity shares at a price of Rs. 248 per share, including a premium of Rs. 238 per share. This offering is intended to raise an aggregate amount of up to Rs. 15,00,00,072.The in-principle approvals were granted under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on...

Srinibas Pradhan Constructions Ltd. Secures P.W.D. Contractors Registration Certificate Srinibas Pradhan Constructions Limited announced that its wholly-owned subsidiary, Srinibas Pradhan Infra Private Limited, has received a P.W.D. Contractors Registration Certificate under Special Class from Engineer-In-Chief (Civil), Works Department, Bhubaneswar, Odisha, on March 30, 2026.The certificate, valid until March 31, 2028, enables the subsidiary to bid for and undertake infrastructure projects under the Odisha PWD, which is expected to positively contribute to the company’s consolidated revenue in future quarters.Certificate DetailsS. No.ParticularsDetailsa)Name of the regulatory or licensing authorityEngineer- In Chief (Civil)...

Bajaj Electricals Limited Receives Appeal Order Regarding GST Demand Bajaj Electricals Limited announced on March 31, 2026, that it received an Appeal Order from the Office of the Commissioner (Appeals), Central Excise, Customs & Central Goods and Services Tax, Jaipur. The order pertains to a previous assessment issued by the Additional Commissioner, Circle-I, Jaipur III, Rajasthan, concerning delayed reporting of sales invoices.The Appeal Order, dated March 26, 2026, upholds a total demand of Rs. 80.75 lakh, which initially included a general penalty of Rs. 34.42 lakh. The company had previously appealed this assessment.Bajaj Electricals Limited had withdrawn its appeal for the fiscal year 2017-18 and submitted an application for...

ABS Marine Services Limited Acquires Offshore Support/Supply Vessel Mumbai – March 31, 2026 – ABS Marine Services Limited (NSE: ABSMARINE), a leading maritime company providing ship management, vessel ownership, marine, and port services, announced a contract to acquire an Offshore Support/Supply Vessel (MPSV) from the international market. The vessel is expected to be delivered during the first quarter of fiscal year 2027 (April 2026 - June 2026).Acquisition Highlights:Vessel Type: Offshore Support/Supply Vessel (MPSV) Expected Delivery: Q1 FY27 (April - June 2026) Source: International Market Strategic Purpose: Strengthening owned fleet and offshore capabilitiesThe acquisition aligns with the company’s strategy to expand its...

Ecoboard Industries Ltd. Secures Credit Facility from Indian Overseas Bank Ecoboard Industries Ltd. announced on March 30, 2026, that it has entered into a Loan Agreement with Indian Overseas Bank. The agreement includes a Cash Credit facility of ₹10,00,00,000 (Rupees Ten Crores Only) and a Bank Guarantee facility of ₹5,00,00,000 (Rupees Five Crores Only).Simultaneously, the company has fully repaid and closed all existing banking facilities with Union Bank of India, including a Bank Guarantee facility of ₹1,98,00,000 (Rupees One Crore and Ninety-Eight Lakhs Only) and a Cash Credit facility of ₹2,00,00,000 (Rupees Two Crores Only), with no outstanding amount as of March 27, 2026.The agreement's terms include a registered mortgage of...

Baazar Style Retail Ltd. Receives Order Regarding Product Labeling Baazar Style Retail Limited received an order from the Office of the Senior Inspector of Legal Metrology in Prayagraj, Uttar Pradesh, on March 30, 2026. The order pertains to irregularities found in product labeling, resulting in a settlement fee of ₹ 1,30,000, which the company has since paid.According to the company, the event has no material financial impact.The Legal Metrology Act, 2009, governs the matter.Sr. No.ParticularsRemarks1Name of the AuthorityOffice of the Senior Inspector of Legal Metrology, Noorullah Road, Prayagraj, Uttar Pradesh.2Nature and details of the action(s) take, initiated or order(s) passed by the authorityOrder received to pay an...

Bajaj Electricals Limited Receives Assessment Order Regarding Vendor’s GST Returns Bajaj Electricals Limited announced on March 31, 2026, that it received an Assessment Order from the Office of the Assistant Commissioner of CGST & Central Excise, Division-II, Mumbai South Commissionerate. The order, dated March 30, 2026, stems from an alleged non-filing of GSTR 3B returns by the company's vendors.The GST Authority has raised a gross demand of Rs. 67.31 lakh, including a penalty of Rs. 33.65 lakh. Bajaj Electricals Limited is currently evaluating legal options, including a potential appeal to an appellate authority.According to the company, the financial impact would be limited to the extent of the demand and penalty, and there is no...