Markets

Sai Silks (Kalamandir) Limited Secures Extension for IPO Proceeds Utilization Sai Silks (Kalamandir) Limited announced on March 29, 2026, that its Audit Committee and Board of Directors have approved an extension for the timeline to utilize the remaining proceeds from its Initial Public Offering (IPO). The company had raised Rs. 566.23 crore (net of IPO expenses) through the IPO, which concluded on September 23, 2023, with an initial utilization timeline extending to March 31, 2026.The extension is primarily due to optimization in capital utilization and resulting savings. Sai Silks (Kalamandir) has exceeded its targeted retail footprint, expanding by approximately 28% over the planned retail space, adding a total of 1,82,652 sq. ft...

Thyrocare Technologies Receives Notice of Demand from Income Tax Department Thryrocare Technologies Limited announced today, March 29, 2026, that it has received a Notice of Demand under Section 156 of the Income-tax Act, 1961, from the Assessment Unit, Income Tax Department. The notice, dated March 27, 2026, was received on March 28, 2026.The notice pertains to Assessment Year 2024-25 and details a demand of ₹20,282,260.According to the company, there is no expected material impact on the financials, operations, or other activities of the Company, except for the potential payment of the mentioned amount if the company’s submissions are not accepted. The company intends to contest the demand before the appropriate authorities and...

Mumbai – March 28, 2026 – Deepak Builders & Engineers India Limited (NSE - DBEIL, BSE - 544276 | INEOOPAOQI1019) announced it has emerged as the lowest (L1) bidder for a residential infrastructure project adjacent to the Panipat Refinery & Petrochemical Complex Township of Indian Oil Corporation Limited (IOCL) in Haryana.The project involves the construction of 12 high-rise residential buildings (G+13) utilizing advanced monolithic construction technology. The scope of work includes the development of parking facilities, a sewerage treatment plant (STP), utility infrastructure, internal roadworks, and associated amenities. Deepak Builders received confirmation of its L1 status via the IOCL eProcurement portal. The total project value...

Dalmia Bharat Limited Reports Kiln Breakdown and Impact on Cement Sales Dalmia Bharat Limited announced on March 29, 2026, that a kiln at its Rajgangpur, Odisha facility experienced a sudden breakdown on March 13, 2026. The kiln, which supplies clinker to grinding units in Odisha, West Bengal, and Jharkhand, underwent repairs and was successfully relit on March 27, 2026. Operations have since stabilized, and clinker dispatch to grinding units is returning to normal.The 14-day disruption, coupled with low inventory levels, resulted in an approximate impact of 250,000 to 300,000 tons on cement sales in key eastern markets during March 2026.The company expressed regret for the supply disruptions experienced by channel partners during...

Solarworld Energy Solutions Limited Receives BESS EPC Project from NTPC Solarworld Energy Solutions Limited announced on March 29, 2026, that it has been awarded an Engineering, Procurement and Construction (EPC) package for Battery Energy Storage System (BESS) implementation at the Solapur Super Thermal Power Station (Lot-1). The contract was awarded by NTPC Limited.The project, titled 'BESS Implementation at NTPC Thermal Power Stations (Lot-1),' has an award capacity of 132 MW/264 MWh. The value of the order is approximately INR 314.26 crore (excluding taxes). The project execution timeframe is 15 months.According to details released, the BESS EPC project is a domestic order and does not involve any related party transactions...

Avenue Supermarts Limited Expands Retail Footprint with Three New Stores Avenue Supermarts Limited announced the opening of three new stores on March 29, 2026. The new locations include Pipla, Nagpur (Maharashtra), AU Family Hub, Ghaziabad (Uttar Pradesh), and Vijay Nagar, Jabalpur (Madhya Pradesh).The company’s total store count now stands at 481.LocationState/TerritoryPiplaNagpur, MaharashtraAU Family HubGhaziabad, Uttar PradeshVijay NagarJabalpur, Madhya PradeshSource:

EPL Limited and Indovida to Merge, Creating a Consumer Packaging Leader for Emerging Markets EPL Limited, a global leader in flexible packaging solutions backed by Blackstone, and Indovida India Private Limited, a leading global rigid PET packaging platform backed by Indorama Ventures, have signed definitive agreements to merge. The merger will establish a ~$2 billion valuation entity, with EPL being valued at ~$1.2 billion and Indovida being valued at ~$0.7 billion.The combined platform will have ~$1 billion in revenue and is expected to result in sizable synergies driven by complementary geographic footprint and products, procurement & supply chain efficiency, and strong sustainability initiatives. EPL's valuation reflects a premium...

Setco Automotive Ltd. Approves Stake Sale in Subsidiary, Plans Corporate Name Change Setco Automotive Ltd. announced on March 29, 2026, that its board approved the execution of several documents related to a transaction involving its material subsidiary, Setco Auto Systems Private Limited (SASPL).Under the agreements, RSB Transmissions (I) Limited will acquire a 41% stake in SASPL for approximately INR 185 Crores. The consideration is based on SASPL’s financial position as of December 31, 2025, and is subject to adjustments. Deferred consideration may be paid based on SASPL's EBITDA performance and other milestones, potentially adding up to INR 71 Crores. The sale is expected to close within 120 days.In addition to the initial...

New Delhi, March 29: Trading activity on Dalal Street is set for further disruption next week as the National Stock Exchange (NSE) and BSE will remain shut on two separate occasions. The closures are scheduled for Tuesday, March 31, for Mahavir Jayanti and Friday, April 3, for Good Friday.This follows an already shortened trading week, with markets closed on Thursday for Ram Navami.Holiday Calendar Overview for 2026 The Indian stock market has 16 holidays scheduled for 2026, with three already observed earlier in the year. Including the upcoming closures next week, trading will remain suspended on 10 more occasions over the rest of the year.After Good Friday, the next key market holidays are:April 14: Dr Baba Saheb Ambedkar...

EPL Limited Announces Amalgamation with Indovida India Private Limited Mumbai, March 29, 2026 – EPL Limited announced that its Board of Directors has approved a scheme of amalgamation (merger by absorption) of Indovida India Private Limited with the Company. The merger is set to occur on a going-concern basis and is subject to necessary statutory and regulatory approvals.Indovida India Private Limited, along with its subsidiaries and associates, is engaged in the manufacturing of packaging products and trading of raw materials. EPL Limited, along with its subsidiaries and associate, manufactures and sells packaging products globally. As of December 31, 2025, EPL Limited reported a turnover of INR 3,809 crore and a net worth of INR...

Max Financial Services Limited Announces Retirement of Independent Director Max Financial Services Limited announced today, March 29, 2026, the retirement of Mr. K. Narasimha Murthy from his position as an Independent Director. Mr. Murthy’s term concludes at the close of business hours on March 29, 2026.Mr. Murthy was initially appointed as an Independent Director on March 30, 2021, for a five-year term. The company’s shareholders were asked to approve a special resolution for his reappointment for a second consecutive term of five years, commencing March 30, 2026. However, the resolution did not receive the required 75% majority, securing 66.77% of the votes cast at the 37th Annual General Meeting on September 18, 2025.The Board of...

Midwest Gold Ltd. Allots Shares on Preferential Basis Midwest Gold Limited announced the allotment of 4,50,750 equity shares on a preferential basis on March 29, 2026. The shares were issued to a combination of promoters, promoter group entities, and public shareholders. Each share was issued at a price of Rs. 2,000, resulting in a total consideration of Rs. 9,015,000,000.The allotment includes shares allocated to Soumya Kukreti (200,000 shares, Rs. 400,000,000), Tara Rani Kollareddy (3,750 shares, Rs. 7,500,000), Guntaka Ravindra Reddy (1,250 shares, Rs. 2,500,000) and a significant portion to various public shareholders, including Srinidhi Duggirala and Karthik Amar Duggirala, each receiving 75,000 shares for Rs. 150,000,000...

D. P. Abhushan Limited Opens New Showroom in Dhar, Madhya Pradesh D. P. Abhushan Limited (NSE: DPABHUSHAN, BSE: 544131) announced the opening of a new retail showroom for its “D. P. Jewellers” brand in Dhar, Madhya Pradesh, effective March 29, 2026.The new showroom, located at Happy Villa, 104, Indore - Ahmedabad Hwy, Happy Villa Colony, Dhar, (M.P.)-454001, will offer a range of jewellery including gold, silver, and diamond-studded pieces, as well as Kundan, Polki, and other premium varieties.According to the company, the expansion is part of a broader strategy to increase its presence in Tier-II cities. The company does not anticipate a material impact on its financials during the current fiscal year and no shareholder approval...

G R Infraprojects Secures EPC Contract Worth Rs. 413.37 Crores from NTPC Limited G R Infraprojects Limited announced it has received a Notification of Award from NTPC Limited, dated March 28, 2026. The company has been awarded an Engineering, Procurement and Construction (EPC) contract for the implementation of Battery Energy Storage Systems (BESS) at the Mouda Super Thermal Power Station.The contract, awarded on an EPC basis, includes services, Ex-Works (India) supply and comprehensive annual maintenance for the entire design life of the BESS system. The project is considered domestic and is valued at Rs. 413.37 Crores, excluding GST. The completion period for the project is 15 months from the appointed date.According to the...

Stock Market Outlook: Global Tensions, Oil Prices to Drive Equities in Holiday-Shortened Week New Delhi, March 29: Domestic equity markets are expected to remain sensitive to global developments in the coming week, with the ongoing West Asia conflict, crude oil price movements, and broader international trends set to play a decisive role in shaping investor sentiment.Global Cues and Oil Prices in Focus Analysts indicated that developments surrounding the month-long conflict in West Asia will continue to influence market direction. Fluctuations in crude oil prices, driven by geopolitical tensions and progress in US-Iran ceasefire negotiations, are likely to remain a key trigger for equities.Ajit Mishra, SVP Research at Religare...

HealthCare Global Enterprises Ltd. Extends Timeline for Vizag Hospital Acquisition Bangalore, India – March 29, 2026 – HealthCare Global Enterprises Ltd. (HCG) announced an extension to the timeline for the acquisition of shares in Vizag Hospital and Cancer Research Centre Private Limited (Vizag Hospital). The announcement, made today, details a second amendment to both the Share Purchase Agreement (SPA) and the Shareholders Agreement (SHA) initially established in June 2024.The SPA outlines a plan for HCG to acquire an additional 34% of Vizag Hospital's equity share capital. Originally scheduled within 18 months of the first closing date of October 2, 2024, the completion date has been extended by three weeks. This adjustment...

BKM Industries Limited Releases Financial Results and Announces Key Appointments Following Resolution Plan Implementation BKM Industries Limited, formerly Manaksia Industries Ltd., announced on March 29, 2026, that its Board of Directors convened on March 28th and 29th, 2026. The meeting, which began at 6:00 PM on March 28th and concluded at 1:30 PM on March 29th, addressed matters related to the implementation of the Resolution Plan approved by the Hon'ble National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016.The Board approved the Standalone and Consolidated Financial Results for the Financial Year 2021-22, Financial Year 2022-23, and the quarter ended June 30, 2023, for the Financial Year 2023-24. These...

IFCI Limited Receives Petition from SFIO Regarding Company Petition IFCI Limited announced on March 29, 2026, that it has received a Company Petition from the Union of India through the Serious Fraud Investigation Office (SFIO) before the National Company Law Tribunal (NCLT) in New Delhi. The petition, bearing numbers CP 34/241-242/PB/2026, follows an order dated March 12, 2026, from the NCLT.According to a disclosure, the petition relates to an investigation report dated November 16, 2022, by the SFIO. The facilities mentioned in the investigation report and petition were sanctioned and disbursed by IFCI Limited prior to the close of Financial Year 2016-2017. The company stated that the corresponding exposures have either been...

CMS Info Systems Acquires FSS’s Managed Services Business to Strengthen ATM Management Solutions Mumbai, March 29, 2026: CMS Info Systems Limited (BSE: 543441 | NSE: CMSINFO), India's leading business services company, announced the acquisition of the ATM Managed Services business of Financial Software and Systems Private Limited ("FSS") for a purchase consideration of up to ₹115 crores. The transaction, expected to close in Q1 FY27, involves the transfer of operating assets and novation of customer contracts.Rajiv Kaul, Exec. VC & CEO, stated the acquisition aligns with the company's strategic goals, noting the industry's consolidation and CMS's position as a preferred partner for banks.At its Analyst Day in September 2025, CMS had...

Syngene International Limited Receives Order Regarding Tax Litigations Syngene International Limited announced on March 29, 2026, that it received an order dated February 6, 2026, from the National Faceless Appeal Centre (NFAC) concerning Assessment Year 2016-17. This order gives effect to the NFAC’s earlier order.The company previously filed a Writ Petition with the Hon'ble High Court of Karnataka regarding the adjustment of refunds granted for Assessment Years 2010-11 and 2011-12 against outstanding demands and the non-issuance of a refund granted for Assessment Year 2012-13. The High Court allowed the petition.The NFAC partially allowed an appeal filed by the company for Assessment Year 2016-17. Subsequently, the Assessing...