Markets

Vardhman Polytex Limited Allots 65,00,000 Shares Following Warrant Conversion Vardhman Polytex Limited announced the allotment of 65,00,000 equity shares on March 23, 2026, resulting from the conversion of an equal number of warrants. The allotment follows the receipt of an amount totaling Rs.6,11,81,250 from warrant holders, representing 75% of the issue price per warrant.The company initially issued 7,24,50,000 convertible warrants on a preferential basis to a promoter group entity on March 27, 2025. Each warrant was priced at Rs. 12.55 and was convertible into one equity share of Re. 1 each.The newly allotted equity shares carry a face value of Re. 1 each and a premium of Rs. 11.55 per share. The total consideration for the...

Birla Corporation Announces Commencement of Commercial Production at Kundanganj Plant Birla Corporation Limited announced the commencement of commercial production at its Kundanganj grinding unit in Uttar Pradesh on March 23, 2026. The expansion, undertaken by RCCPL Private Limited, a wholly-owned subsidiary of Birla Corporation, adds 1.4 million tons of grinding capacity.The new production line at the Kundanganj unit was successfully commissioned on March 23, 2026, at approximately 4:30 p.m. (IST). This expansion increases the unit’s production capacity by 1.4 million tons.Following the expansion, Birla Corporation's consolidated production capacity now stands at 21.4 million tons. The company anticipates that the enhanced grinding...

Gujarat State Petronet Limited Receives Income Tax Order Gujarat State Petronet Limited announced it received an Income Tax order under Section 143(3) read with Section 144B of the Income-Tax Act, 1961, dated March 23, 2026. The order pertains to the Assessment Year 2024-25 (Fiscal Year 2023-24) and is order number ITBA/AST/S/143(3)/2025-26/1087736929(1).The Income Tax Department’s Scrutiny Assessment Order accepts the returned income as assessed income without adjustments. However, the department has mistakenly calculated the total income at Rs. 1683 crore instead of the correctly returned and assessed income of Rs. 1435 crore. This error resulted in an erroneous demand of Rs. 77.76 crores, including interest.According to the...

Capri Global Capital Limited Receives Credit Ratings from Moody’s and Fitch Mumbai, March 23, 2026 – Capri Global Capital Limited, a leading non-banking financial company (NBFC), has secured credit ratings from Moody’s Ratings and Fitch Ratings, marking a significant milestone for the company.Moody’s has assigned Capri Global a first-time ‘Ba3’ Corporate Family Rating (CFR) with a stable outlook. Fitch Ratings has assigned the company a ‘BB- (Stable)’ Long-Term Issuer Default Rating (IDR), along with a ‘B’ Short-Term IDR and a ‘BB- (Stable)’ Local Currency Long-Term IDR.These ratings reflect Capri Global's diversified lending portfolio, improving asset quality, strong capitalization, and focus on prudent risk management. The stable...

Birla Corporation Subsidiary Expands Kundanganj Unit, Boosting Production Capacity Kolkata, 23 March—RCCPL Private Limited, a wholly-owned subsidiary of Birla Corporation Limited, has commissioned the third line of production at its Kundanganj grinding unit in Uttar Pradesh. This expansion increases the unit's production capacity by 1.4 million tons (mt).Following the expansion, Birla Corporation Limited's consolidated production capacity now stands at 21.4 mt. The company previously announced plans to further expand its capacity to 27.6 mt by 2028-29. The Kundanganj expansion project is estimated to cost approximately Rs 300 crore.The increased grinding capacity is expected to generate close to 100,000 direct and indirect jobs and...

Vedant Fashions Limited Reschedules Investor Meeting Vedant Fashions Limited announced a rescheduling of one meeting with analysts and investors, initially planned for March 23, 2026. The meeting has been moved to March 24, 2026, and will be conducted virtually in a one-to-one format.The company confirmed that discussions during the meeting will be based solely on publicly available information and will not involve any unpublished price-sensitive information.Below is a summary of the meeting rescheduling:Earlier DateRevised DateMode of InteractionType of InteractionMarch 23, 2026 (Monday)March 24, 2026 (Tuesday)VirtualOne-to-oneVedant Fashions Limited noted that the schedule is subject to potential changes due to...

Capri Global Capital Limited Invests in Subsidiary Capri Global Housing Finance Limited Capri Global Capital Limited announced on March 23, 2026, that it has received an allotment of 72,99,270 fully paid-up Equity Shares in Capri Global Housing Finance Limited (CGHFL), its wholly-owned subsidiary. The shares were allotted as part of a rights issue by CGHFL.The allotment followed approval by the Management Committee of CGHFL at a meeting held on March 23, 2026. The shares were issued at an issue price of Rs. 274 per Equity Share, including a premium of Rs. 264 per share.As a result of the allotment, Capri Global Capital Limited's shareholding in CGHFL has increased from 7,88,08,203 shares to 8,61,07,473 shares.Capri Global Housing...

GOCL Corporation Limited Announces Land Monetization Deal in Bengaluru GOCL Corporation Limited announced that its Board of Directors has approved the early monetization of land located in Yelahanka, Bengaluru, within the 'ecopolis' project. The project encompasses approximately 38 acres of land under a joint development agreement with Hinduja Realty Ventures Limited (HRVL). The property is currently in the process of being de-notified from Special Economic Zone (SEZ) purview.The monetization will occur through the sale of the entire land and associated buildings to a leading industrial house. The total consideration for the land and buildings is approximately Rs.2,261 crores, with the sale transaction anticipated to be completed in...

Endurance Technologies Schedules Meetings with Axis Mutual Fund Endurance Technologies Limited announced a one-on-one meeting with Axis Mutual Fund scheduled for March 25, 2026, in Pune. The meeting is slated to run from 3:00 p.m. to 4:00 p.m. Senior management representatives from Endurance Technologies will be present.A presentation potentially used during the meeting is available for review at https://www.endurancegroup.com/wpcontent/uploads/2026/03/CORPORATE-PPT_05.03.2026_.pdf. The company noted the meeting schedule is subject to change.Endurance Technologies Limited, BSE Code: 540153, NSE Code: ENDURANCE, is headquartered in Chhatrapati Sambhajinagar, Maharashtra, with an additional office in Pune, Maharashtra.Source:

Dredging Corporation of India Appoints Capt. S. Divakar as Managing Director & CEO Dredging Corporation of India Limited (DCI) announced the appointment of Capt. S. Divakar as Managing Director & Chief Executive Officer, effective March 23, 2026. The Nomination and Remuneration Committee and Board of Directors approved the appointment at a meeting held on the same date.Capt. Divakar, who currently serves as Chief General Manager, will hold the position of Additional Director until the next General Meeting, scheduled within three months. Shareholder approval will then be sought for his regular appointment as a Non-Independent & Executive Director, extending until he reaches the age of 60 years or until further orders.Capt. Divakar...

Southern Petrochemical Industries Corporation Limited Re-designates K R Anandan as Whole-Time Director Southern Petrochemical Industries Corporation Limited announced the re-designation of Mr. K R Anandan as Whole-Time Director, effective March 23, 2026, to February 12, 2029. Mr. Anandan will continue to serve as Chief Financial Officer (CFO).Previously appointed as Whole-Time Director (Finance) on February 13, 2026, for a three-year period, his role has been updated. The change is subject to shareholder approval.Mr. Anandan, aged 62, is a Chartered Accountant, Cost Accountant, and Company Secretary with over 33 years of experience in diverse sectors including manufacturing, fertilizers, and petrochemicals. Prior roles include Chief...

Orient Green Power Company Limited Subscribes to Delta Renewable Energy Private Limited Share Issue Orient Green Power Company Limited announced on March 23, 2026, that it was allotted 61,44,490 equity shares out of a total 87,77,843 offered in the third tranche of a preferential issue by its subsidiary, Delta Renewable Energy Private Limited. Each share was issued at a face value of Rs. 10.The company’s stake in Delta Renewable Energy remains unchanged at 70% following the allotment. The total consideration for the shares was Rs. 6,14,44,900.Delta Renewable Energy Private Limited was incorporated on November 29, 2023, and currently has a paid-up equity share capital of Rs. 12,60,93,330. The company has commissioned a 7 MW AC / 9.8...

City Union Bank Appoints New Chief Risk Officer City Union Bank Limited announced the appointment of Shri. Venkatakrishnan S as Chief Risk Officer (CRO) effective April 1, 2026. The appointment was approved by the Bank’s Board of Directors at a meeting held on March 23, 2026. Shri. Kalyanaraman M will cease to serve as CRO on March 31, 2026, due to superannuation.Venkatakrishnan S holds a B.Com, CA, and CMA. He currently serves as Senior Deputy General Manager in the Risk Management department of the Bank since July 2024. He brings 26 years of experience, including 19 years in banking, with expertise in credit and operational risk, ICMP, capital adequacy, ECL (Ind AS), and portfolio risk monitoring.Prior to joining City Union Bank...

Avenue Supermarts Limited Opens New Store in Bhopal Avenue Supermarts Limited, owner of the DMart retail chain, announced the opening of a new store located at Bling Square Mall in Bhopal, Madhya Pradesh. The store commenced operations on March 23, 2026.As a result of this expansion, the total number of DMart stores nationwide currently stands at 467.Source:

Music Broadcast Ltd. Receives Rectification Order Reducing Tax Demand to Rs. 0 Music Broadcast Ltd. announced on March 23, 2026, that it received a Rectification Order from the Office of the Deputy Commissioner, Lucknow, Uttar Pradesh, significantly reducing a previously assessed tax demand. The Rectification Order, dated March 19, 2026, lowered the demand to Rs. 0 (including penalty), from the original demand of Rs. 89,63,361.The order pertains to a Demand Order initially issued under Section 73 of the IGST/CGST/SGST Act, 2017, for the financial year 2021-22. The company had previously filed a rectification application regarding the initial order.According to the details of the Rectification Order, the authority reduced the amount...

Diensten Tech Limited to Acquire 35% Share Capital of Klaus Emirates IT Solutions L.L.C-FZ Diensten Tech Limited announced on March 23, 2026, that it is in the process of acquiring 35% of the share capital of Klaus Emirates IT Solutions L.L.C-FZ (UAE). Klaus Emirates IT Solutions L.L.C-FZ is a limited liability company incorporated in Dubai with its registered office at Meydan Grandstand, 6th floor, Meydan Road, Nad Al Sheba, Dubai, U.A.E. This acquisition will result in Klaus Emirates IT Solutions L.L.C-FZ becoming an associate of Diensten Tech Limited.Klaus Emirates IT Solutions L.L.C-FZ has an authorized capital of 100 shares with a value of AED 1,000 per share, totaling AED 100,000. The company's turnover is 54,047 AED...

Avenue Supermarts Opens New Store in Bhopal, Reaching 467 Locations Avenue Supermarts Limited, operating as Dmart, announced the opening of a new store today, March 23, 2026. The new store is located at Bling Square Mall in Bhopal, Madhya Pradesh.With this addition, Avenue Supermarts now operates a total of 467 stores.Table: Store Count as of March 23, 2026MetricValueTotal Number of Stores467Source:

Euro Multivision Limited Cancels Board Meeting Scheduled for March 23, 2026 Euro Multivision Limited announced the cancellation of a board meeting initially scheduled for Monday, March 23, 2026, in Hyderabad. The meeting was previously announced on March 17, 2026, and was intended to consider and approve unaudited financial results for the quarter and nine months ended December 31, 2022, along with audited financial results for the quarter and financial year ended March 31, 2023.The company cited unavoidable circumstances as the reason for the cancellation. Euro Multivision Limited will communicate a revised date for the board meeting in accordance with regulatory timelines.Girish Jain, Managing Director, confirmed the cancellation...

Patel Engineering Ltd. Announces Departure of Independent Director Mumbai, March 23, 2026 – Patel Engineering Ltd. announced today the departure of Ms. Sunanda Rajendran from its board of directors. Ms. Rajendran, an Independent Director, completed her term and ceased to be a director effective at the close of business hours on March 23, 2026.The change in board composition aligns with the company's governance practices and regulatory requirements.Here's a summary of the key details regarding Ms. Rajendran’s departure:DetailInformationNameMs. Sunanda RajendranReason for DepartureCompletion of term as Independent DirectorDate of CessationMarch 23, 2026Kavita Shirvaikar, Managing Director of Patel Engineering Ltd...

Samvardhana Motherson International Expects Completion of HR Dhauliganga Private Limited Acquisition in Q1 FY27 Samvardhana Motherson International Limited (SAMIL) announced a revised timeline for the acquisition of a 28.15% stake in HR Dhauliganga Private Limited (HRDPL). The transaction, initially expected to close in Q4 FY26, is now anticipated to be completed during Q1 FY27.The acquisition follows Power Delivery Agreements executed by SAMIL and its subsidiaries with HRDPL, a special purpose vehicle established by Hinduja Renewables Energy Private Limited. The move aligns with regulatory requirements for captive power generation and consumption under Electricity Laws.The completion of the transaction remains subject to ongoing...