Markets

Automobile Products of India Ltd. Faces ₹10.41 Crore Tax Demand Following Order Rejection Automobile Products of India Ltd. has received an order from the Principal Commissioner of Income Tax, Mumbai, rejecting the company’s revision petition under Section 264 of the Income Tax Act, 1961. The order, dated March 30, 2026, upholds additions to the company’s income of ₹10.60 crores for Assessment Year 2015-16.The tax demand, including interest, amounts to ₹10.41 crores, and a penalty under Section 271(1)(c) of ₹3.60 crores has also been levied. The total financial impact on the company is ₹14.01 crores.The company received the order at approximately 11:38 A.M. on March 30, 2026. Automobile Products of India Ltd. is currently reviewing...

DOMS Industries Completes Acquisition of Additional Stake in Pioneer Stationery DOMS Industries Ltd. announced the completion of an acquisition of an additional 6.5% stake in Pioneer Stationery Private Limited, a subsidiary of DOMS Industries Limited, on March 31, 2026.The acquisition involved the purchase of 3,900 equity shares from existing shareholders of Pioneer for a total consideration of ₹55,380,000. This transaction increases DOMS Industries’ shareholding in Pioneer to 64.0% from a previous stake of 57.5%.The Board of Directors had previously approved the acquisition of a 13.0% stake in Pioneer, with the current transaction representing the remaining portion of that approved acquisition.Source:

Sayaji Hotels Limited Receives Credit Rating Reaffirmation from ICRA Sayaji Hotels Limited announced that ICRA Limited has reaffirmed the credit ratings for the company’s instruments. The reaffirmation, communicated in a letter dated March 30, 2026, applies to the following: a long-term fund-based term loan of ₹60 crore, a long-term fund-based working capital limit of ₹15 crore, and unallocated limits of ₹5 crore. All instruments have been reaffirmed at [ICRA]BBB+ (Stable).The ratings are due for surveillance within one year. ICRA reserves the right to review and revise the ratings based on new information or circumstances. Lenders and investors are encouraged to visit ICRA’s website at www.icra.in for the latest ratings.The...

SRF Limited Faces Demand Order for Tax Credit Disallowance SRF Limited announced that it received a demand order from the Additional Commissioner of CGST and Central Excise- Chennai North Commissionerate on March 30, 2026. The order pertains to the disallowance of certain CENVAT credit claimed by the company for the period spanning 2005 to 2011.The tax authority has issued a demand order for Rs. 1,03,10,343, accompanied by an equivalent amount of penalty and applicable interest. The department alleges that SRF Limited improperly availed CENVAT credit during the specified period.SRF Limited is currently reviewing the order and intends to pursue legal remedies by filing an appeal. Management anticipates that the financial impact will...

RailTel Corporation Secures Major Order from Jharkhand Education Project Council RailTel Corporation of India Limited announced it has received a work order from the Jharkhand Education Project Council. The order, received on March 30, 2026, involves the selection of an agency for conducting English language training and establishing English language labs.The contract is for supply and service and is valued at Rs. 29,69,03,155, including tax. The execution period for the order is until April 6, 2029.According to the work order, no promoter, promoter group, or group companies have an interest in the Jharkhand Education Project Council, and the order does not fall under related party transactions.DetailInformationEntity...

Texmaco Rail & Engineering Limited Receives Order Worth Rs. 357.11 Crores from JSW Group Texmaco Rail & Engineering Limited, an Adventz Group company, announced it has received an order from JSW Group valued at Rs. 357.11 crores. The order pertains to the manufacture and supply of BLSS, BLCS and BFNV Rakes along with BVCM Wagons.The contract term is set for 11 months from the effective date or commencement of works. The order is considered domestic in nature and does not involve any related party transactions.According to company disclosures, neither the promoter group nor any group companies have any interest in JSW Group.ParticularsDetailsBroad consideration or size of the order(s)/contract(s)Rs. 357.11 crores (excluding...

Almondz Global Securities Ltd. Sells Stake in Subsidiary Almondz Global Securities Limited announced the transfer of 32,85,000 shares, representing 20.63% of its total share capital, in subsidiary Almondz Global InfraConsultant Limited (AGICL) to Almondz Finanz Limited on March 30, 2026. The transaction was valued at Rs. 18,57,01,050.Following the sale, Almondz Global Securities Limited’s shareholding in AGICL has decreased to 53.08% of the total paid-up share capital. AGICL will continue to be considered a subsidiary of Almondz Global Securities Limited.According to audited financial statements as of March 31, 2025, AGICL contributed an income of Rs. 11,486.96 lacs, representing 76% of the listed entity's income, and a net worth of...

GEM Enviro Management Ltd. Updates Timeline for Solluz Energy Acquisition GEM Enviro Management Ltd. announced a revision to the timeline for its acquisition of shares in Solluz Energy Private Limited. The company had previously indicated an anticipated completion date of March 31, 2026, for the acquisition of up to 26% stake in Solluz Energy Private Limited, a company with CIN: U52100DL2015PTC277648.Due to operational difficulties, the acquisition is now expected to be completed on or before June 30, 2026. The initial announcement regarding the acquisition was made on December 26, 2025.Source:

Hind Rectifiers Ltd. Announces Effective Date for Bonus Share Listing Hind Rectifiers Limited announced that the board approved a bonus issue on February 11, 2026, and received shareholder approval on March 19, 2026.The deemed date of allotment for the bonus shares is March 30, 2026. According to a circular from the BSE Limited dated March 24, 2026, the listing and trading of the shares were initially expected to commence on March 31, 2026. However, due to March 31, 2026 being a trading holiday, the effective listing date has been adjusted to April 1, 2026.April 1, 2026, will serve as the official effective listing date for the bonus shares.Source:

Indobell Insulations Secures Export Order Worth $70,700 Indobell Insulations Limited has secured an export order for Steam Turbine Insulation - Blanket Therm valued at $70,700. The order was awarded by GEVERNOVAPARTS&PRODUCTS GmbH based in Baden, Switzerland.According to the terms of the order, payment is due within 150 days of the invoice date, and the Incoterm is FCA Supplier Factory. The currency for the order is US dollars.The order is scheduled for execution by November 2026. Neither the promoter group nor any group companies have an interest in GEVERNOVAPARTS&PRODUCTS GmbH, and the transaction is not considered a related party transaction.Source:

Tata Communications Maintains a Leader Position for 13th Straight Year in Gartner® Magic Quadrant™ Mumbai, INDIA, March 31, 2026 – Tata Communications, a leading global communications technology player, announced that it has been recognized as a Leader in the 2026 Gartner® Magic Quadrant™ for Global WAN Services, marking its thirteenth consecutive year of recognition for Completeness of Vision and Ability to Execute.Over the past year, Tata Communications has continued to redefine its network fabric through advanced AI and analytics, offering composable, high-speed, on-demand and intent-based connectivity that supports enterprises worldwide across industries such as finance, manufacturing, retail, media, and IT services.Key...

Bajaj Auto Limited Subsidiary Receives Credit Rating Reaffirmation Bajaj Auto Limited announced that Bajaj Auto Credit Limited (BACL), its wholly-owned subsidiary, has received a credit rating reaffirmation from CARE Ratings Limited. The reaffirmation pertains to the long-term bank facilities of BACL.CARE Ratings has reaffirmed a CARE AAA (Stable) rating for BACL's long-term bank facilities, amounting to 10,000 crore. This rating was communicated in a letter dated March 27, 2026. The company received this information on March 31, 2026, at approximately 10:27 A.M. (IST).InstrumentRatingAmount (Rs. in crore)Long-term Bank facilitiesCARE AAA (Stable)10,000Source:

Investment & Precision Castings Ltd. Commissions 4 MWp Solar Power Plant Investment & Precision Castings Limited announced the successful commissioning of a solar power plant on March 30, 2026. The plant, located in Village Ratanpar, Gujarat, has a capacity of 4 MWp (4000 kWp) and will be used for captive consumption.The company anticipates that the new solar power plant will lead to cost optimization and a reduction in carbon emissions. The commissioning was announced in compliance with regulation 30 of SEBI (LODR) Regulations 2015.The announcement was made by Mr. Piyush Tamboli, Chairman & Managing Director.Source:

NTPC Group’s Installed and Commercial Capacity Increases with Renewable Energy Project Commissioning NTPC Ltd. announced on March 31, 2026, that its subsidiary, NTPC Green Energy Limited (NGEL), has declared the commissioning of capacity at renewable energy projects in Gujarat.The twelfth and final part of the 1255 MW Khavda-I Solar PV Project reached completion with 78.02 MW commissioned as of March 31, 2026. Additionally, 90 MW of the 1200 MW Khavda-II Solar PV Project commenced operations on the same date.As a result of these additions, the total installed capacity of the NTPC group now stands at 89,057 MW, with a commercial capacity of 87,977 MW.Source:

Kellton Tech Solutions Ltd. Allots Equity Shares Following Warrant Conversion Kellton Tech Solutions Ltd. announced today, March 31, 2026, that its Board of Directors has approved the allotment of 36,00,000 fully paid-up equity shares of ₹ 1/- each to M/s. Matnic Finvest LLP, a promoter group member, following the conversion of warrants.The allotment was made for a total consideration of ₹ 6,80,40,000. Matnic Finvest LLP received the remaining exercise price of ₹ 18.9/- per share warrant, representing 75% of the warrant exercise price of ₹ 25.2/- per warrant.The equity shares issued rank pari-passu with existing equity shares of the company. As a result of this allotment, the company’s paid-up equity share capital increased to ₹...

AGEasy Introduces India's First Adult Diaper Pants with Smart Liquid Distribution™ Technology Gurugram, March 31, 2026 – AGEasy, a consumer products brand under Antara Senior Care, has launched India's first adult diaper pants featuring Smart Liquid Distribution™ technology. The product is designed specifically for seniors and offers improved absorption, reduces sagging, and delivers more reliable protection.The AGEasy Adult Diaper Pants feature a unique three-layer design and are the result of in-house innovation currently awaiting patent. The technology addresses common issues of sagging, leakage, and uneven absorption, providing up to 12 hours of protection with an antibacterial core.According to Rajit Mehta, Managing Director &...

Igarashi Motors India Ltd. Receives Credit Rating Reaffirmation from CARE Ratings Igarashi Motors India Ltd. announced on March 30, 2026, that it has received a reaffirmed credit rating from CARE Ratings for its bank facilities. The ratings reflect the company’s financial stability and performance.CARE Ratings has reaffirmed the ratings as follows:FacilitiesAmount (Rs. Crore)RatingsRating ActionLong Term Bank Facilities41.65CARE A+ ; Stable (Single A Plus; Outlook: Stable)ReaffirmedLong Term/ Short Term Bank Facilities68.00CARE A+ ; Stable/ CARE A1+ (Single A Plus; Outlook :Stable/ A One Plus)ReaffirmedLong-term / Short- term bank facilities60.00CARE A+ ; Stable/ CARE A1+ (Single A Plus; Outlook :Stable/ A One...

Thermax Ltd. Receives Assessment Order from CGST, Pune Thermax Limited announced it received an assessment order from the Joint Commissioner, CGST, Pune, Maharashtra, on March 30, 2026. The order levies a penalty of 314 million rupees.The assessment relates to the disallowance of a lower Goods and Services Tax (GST) rate due to the incorrect classification of goods under the Harmonized System of Nomenclature (HSN) for the period 2019-20 to 2022-23.According to a filing, Thermax intends to file an appeal challenging the demand. The company anticipates the action will not have a significant impact on its operations.Details of the Assessment OrderSr.Disclosure RequirementsBrief Particulars1Name of the AuthorityJoint...

RMC Switchgears Ltd. Secures Listing and Trading Approval on Mainboards of BSE and NSE RMC Switchgears Ltd. has received final approval for the migration of its equity shares from the BSE SME Platform to the Mainboard of both the BSE Limited and the National Stock Exchange of India Limited (NSE). The approval, effective April 1, 2026, involves 1,05,76,850 equity shares with a face value of Re. 10 each.According to BSE letter reference no. 20260330-19 and NSE letter reference no. NSE/LIST/66, the shares will be listed and admitted to dealings on the Main Board of both exchanges starting Wednesday, April 1, 2026.The company highlighted that this dual listing signifies a significant milestone, demonstrating sustained growth and a...

Bharat Heavy Electricals Receives Credit Rating Outlook Revision from India Ratings Bharat Heavy Electricals Limited (BHEL) announced on March 31, 2026, that India Ratings & Research has revised the company's credit outlook from “Stable” to “Positive.” The revision accompanies the reaffirmation of long-term and short-term credit ratings.According to India Ratings & Research, the ratings are based on BHEL’s operational and financial performance through the third quarter of fiscal year 2025-26.The details of the reaffirmed ratings are as follows:Facilities/InstrumentsRatingTotal Bank Loan Facilities rated (Rs 80000 Crores)Long Term Rating/Outlook: IND AA-/ Positive Short Term Rating: IND Al+ (Outlook revised to "Positive" from...