Markets

HEG Limited Receives Dismissal of Show Cause Notice Regarding IGST Refunds HEG Limited announced on March 17, 2026, that the Office of the Deputy Commissioner (SGST) in Mandideep, Bhopal, has dropped a show cause notice related to the tax period FY 2019-20. The notice, previously issued in November 2025, had proposed a recovery of IGST refunds along with a penalty amounting to Rs. 282.34 Crores. The GST authority dropped the proceedings under Section 74 of the MPGST Act 2017 read with section 74 of CGST Act 2017, based on information available on record.The company noted that this development has no impact on its financial, operational, or other activities. The show cause notice related to the tax period FY 2020-21 remains pending...

Strides Strengthens its Africa Business with Acquisition of Generic Brands from Sandoz Bangalore, India, March 17, 2026 – Strides Pharma Science Limited (Strides) announced that its step-down subsidiary, Strides Pharma International AG (SPIAG), has entered into definitive agreements with Sandoz AG and its group entities for the acquisition and in-licensing of a portfolio of branded generic products across Sub-Saharan Africa (SSA).The agreement spans four key markets: Western Sahara, Ghana, Nigeria, and Kenya, encompassing brands across anti-infective, cardiovascular, and dermatology therapeutic segments. Several products individually deliver annual sales exceeding US$1 million.The transaction includes both fully acquired products...

Exato Technologies Ltd. Secures Export Orders from Diligenta Limited Valued at USD 121,700 Exato Technologies Ltd. announced on March 17, 2026, that it has received two export orders from Diligenta Limited, based in Peterborough, England. The orders are for the supply of CXone Mpower Omnichannel, WFM and EEM licenses, as well as related Software Services.The total value of the orders is USD 121,700 (United States Dollars One Lakh Twenty-One Thousand Seven Hundred Only), excluding applicable taxes, duties, levies, or other government-imposed charges.According to a company statement, this development reflects Exato Technologies’ technical expertise and focus on delivering software and technology-driven solutions.CXone Mpower...

Thomas Cook India to Consider Corporate Restructuring Proposal Thomas Cook (India) Ltd. announced that a meeting of its Board of Directors will be held on Friday, March 20, 2026, to consider and approve a corporate restructuring proposal and streamline the company’s existing capital structure.The announcement was made on March 17, 2026.Trading window for designated persons and their immediate relatives has been closed from March 18, 2026, and will remain closed until March 22, 2026, in accordance with the company's policy on prevention of insider trading.Thomas Cook (India) Ltd. is headquartered in Mumbai. The company provides foreign exchange, business travel, MICE, and value-added services.BSE Scrip Code: 500413 NSE Scrip...

NHPC Limited Announces Commercial Operation of Subansiri Lower HE Project Unit #1 NHPC Limited declared the Commercial Operation (CoD) of Unit #1 (250 MW) of the Subansiri Lower Hydro Electric Project, a 2000 MW (8 x 250 MW) project located in Assam/Arunachal Pradesh, starting at 00:00 hours on March 20, 2026.This announcement follows previous updates on the project’s progress dated October 5, 2023, October 13, 2023, May 22, 2024, August 20, 2024, October 22, 2024, December 26, 2024, May 26, 2025, June 30, 2025, October 10, 2025, December 3, 2025, December 18, 2025, December 21, 2025, and January 30, 2026.With the commissioning of Unit #1, a total of three units – Unit #1, Unit #2, and Unit #3 – within the Subansiri Lower HE Project...

Coforge Limited Appoints Rajan Khattar as Senior Management Personnel Coforge Limited announced the appointment of Rajan Khattar as a Senior Management Personnel, effective March 16, 2026. Khattar joined the company as Executive Vice President and Business Head.According to company information, Khattar holds a bachelor’s degree in Engineering and is an alumnus of the strategic management program from the Indian Institute of Management, Calcutta. He is based in the San Francisco Bay Area and brings over 25 years of experience in sales and business leadership within the global IT services and technology consulting industry. Prior to joining Coforge, Khattar held senior leadership positions at other global IT services firms...

Clean Max Enviro Energy Solutions Reports 33% EBITDA Growth in First Nine Months of FY 2026 Mumbai, India – March 2026: Clean Max Enviro Energy Solutions Limited ('CleanMax') announced key operational and financial performance for the first nine months of Fiscal Year 2026, reflecting growth in capacity addition, contracted portfolio, and profitability.As of March 1, 2026, CleanMax has a total contracted energy sales capacity of 5.7 GW, compared to 1.75 GW as of April 1, 2024, 4.4 GW as of April 1, 2025, and 5.5 GW as of December 31, 2025. Of this, 3.0 GW is currently commissioned, representing a 76% growth from 1.7 GW at the start of the fiscal year. During the first 11 months of Fiscal 2026, the company commissioned 1.3 GW of new...

Arrow Greentech Ltd. Receives Demand Order for Rs. 1.80 Crores from Income Tax Department March 17, 2026 – Arrow Greentech Ltd. announced today that it has received a demand order from the Income Tax Department regarding a penalty order issued under Section 270(A) of the Income Tax Act, 1961, for the assessment year 2017-18. The demand order requires the company to pay a penalty of Rs. 1.80 crores.The penalty stems from a dismissal of an appeal under Section 250 against disallowances of certain expenditures and deductions claimed under various provisions of the Income Tax Act. Arrow Greentech Ltd. received the demand order on March 16, 2026.According to the company, the demand order is not expected to have a material impact on its...

Excelsoft Technologies Limited Announces Resignation of Independent Director Excelsoft Technologies Limited announced that Mr. Doreswamy Palaniswamy, an Independent Director, has resigned from his position, effective March 17, 2026. Mr. Palaniswamy's resignation is to pursue a challenging executive position outside the organization.As a consequence of his resignation, Mr. Palaniswamy also ceases to be a member of the Audit Committee and the Nomination & Remuneration Committee of the Company.The Board of Directors expressed appreciation for Mr. Palaniswamy’s contributions and guidance during his tenure.Mr. Palaniswamy confirmed that there are no other material reasons for his resignation. He served as an Independent Director since...

Agro Phos India Limited Enters Marketing Arrangement with Rashtriya Chemicals and Fertilizers Limited Agro Phos India Limited announced on March 17, 2026, that it has entered into a Memorandum of Understanding (MoU) with Rashtriya Chemicals and Fertilizers Limited (RCF). The agreement facilitates a marketing arrangement for certain products manufactured by Agro Phos India Limited.The MoU outlines the distribution of Single Superphosphate (SSP) manufactured by Agro Phos India Limited through RCF’s distribution network in the states of Maharashtra and Uttar Pradesh. The arrangement covers aspects such as supply, order management, quality compliance, pricing, and payment mechanisms. The agreement is valid from March 17, 2026, to June 1...

Sasken Technologies Limited Pays Fine to Stock Exchanges Sasken Technologies Limited announced on March 17, 2026, that it has paid a fine of Rs. 11.28 lakhs plus GST to the BSE Limited and National Stock Exchange of India Limited (NSE). The fine was levied for non-compliance with Regulation 17(1) & 20(2) / (2A) of the Listing Regulations.According to a filing, the company received the order from the stock exchanges on March 16, 2026. Sasken Technologies Limited stated that the action will have no impact on its financial, operational, or other activities, quantifiable in monetary terms.The company remitted the penalty amount by the stipulated timeline, March 16, 2026. Sasken Technologies Limited expressed concern that its request for...

NMDC Limited Appoints Krishna Kumar Thakur as Director (Personnel) NMDC Limited announced the appointment of Krishna Kumar Thakur as Director (Personnel) effective March 17, 2026. The appointment follows an order issued by the Ministry of Steel, Government of India.Krishna Kumar Thakur, who currently serves as Director (HR) at Bharat Heavy Electricals Limited (BHEL), will hold the position for a five-year term or until further orders. His Director Identification Number (DIN) is 10172666.The appointment was made in accordance with Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.Pravin Shekhar, Company Secretary & Compliance Officer at NMDC Limited...

Heritage Foods Limited’s Independent Directors Review Key Business Developments Heritage Foods Limited announced on March 17, 2026, that its Independent Directors convened a meeting to review key business developments, operational performance, and strategic initiatives. The meeting also addressed matters concerning governance, regulatory compliance, and the company’s overall functioning. The Directors provided guidance on the affairs of the company during the meeting.Uma Kanta Barik, Company Secretary and Compliance Officer, M. No: FCS-6317, signed off on the communication.Source:

R&B Denims Limited Receives Favorable Ruling on GST Penalty R&B Denims Limited announced on March 17, 2026, that a penalty of 43,66,118 Indian Rupees imposed by the Assistant Commissioner of Central Goods and Services Tax, Gujarat, has been set aside following a successful appeal.The penalty was initially levied in connection with an issue concerning the availment of Input Tax Credit (ITC). The company filed an appeal against the order with the appropriate appellate authority.R&B Denims Limited anticipates no financial impact as a result of the ruling.This announcement follows a previous notification made on the BSE Limited on April 18, 2025.Source:

Sayaji Hotels Receives Property Tax Order from Indore Municipal Corporation Sayaji Hotels (Indore) Ltd. announced on March 17, 2026, that it received an order from the Commissioner, Indore Municipal Corporation (IMC) on March 16, 2026. The order, initially passed on March 6, 2026, concerns the assessment of property tax and levies a penalty of ₹ 32,69,780 on the company.The company intends to pursue legal action regarding the order and will update the stock exchange on any further developments.DetailInformationAuthorityCommissioner, Indore Municipal CorporationAction TakenImposition of penalty in case of Tax AssessmentDate of Order ReceiptMarch 16, 2026 (Order passed March 6, 2026)Details of ViolationAssessment of...

Promoter & Promoter Group Acquire Shares in Indiqube Spaces Limited Indiqube Spaces Limited announced that Promoter Ms. Meghna Agarwal and Promoter Group Ms. Ashu Agarwal acquired a total of 1,14,751 equity shares in the company through open market purchases. The acquisition took place between February 16, 2026, and March 16, 2026.The acquisition represents less than 2% of the total shareholding or voting rights of the company. While not triggering mandatory disclosure requirements under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the company is voluntarily disclosing the transaction to maintain transparency for investors and stakeholders.According to a company statement, Pawan J. Jain, Chief...

Cube Highways Trust Executes Commitment Letter and ROFO Agreement Cube Highways Trust announced today, March 17, 2026, that its Investment Manager has entered into agreements to acquire equity stakes in several companies.The agreements, made in accordance with SEBI regulations, include a binding commitment letter with Axis Trustee Service Limited, Cube Highways and Infrastructure V Pte. Ltd., Cube Highways and Infrastructure II Pte. Ltd., Baharampore Farakka Highway Limited (BFHL), Devanahalli Tollway Private Limited (DTPL), Western MP Infrastructure and Toll Roads Private Limited (WMTPL), and Chenani Nashri Tunnelway Limited (CNTL). This agreement outlines the acquisition of 100% of the equity share capital of BFHL and DTPL, at least...

Future Consumer Limited Provides Update on NCLT Hearing Regarding Resurgent India Special Situations Fund Dispute Future Consumer Limited provided an update on a case filed against the company at the National Company Law Tribunal (NCLT) in Mumbai by Resurgent India Special Situations Fund. The hearing, initially scheduled for March 9, 2026, was postponed and subsequently held on March 17, 2026.During the proceedings, counsel for Future Consumer Limited, Mr. Shyam Kapadia, submitted a financial affidavit detailing the company’s financial statements for the last three years, including the debt owed to Resurgent. Kapadia argued that the first default occurred in May 2022, exceeding the statute of limitations. He further stated that...

Vaibhav Global Limited Allots Shares to Employee Welfare Trust Vaibhav Global Limited announced the allotment of 18,041 equity shares to "Vaibhav Global Employee Stock Option Welfare Trust" on March 17, 2026, under various employee benefit schemes. Each share has a face value of Rs. 2.The allotment has increased the company's paid-up equity share capital to Rs. 33,41,35,296, comprising 16,70,67,648 equity shares of Rs. 2 each.Yashasvi Pareek, Company Secretary & Compliance Officer, confirmed the allotment.Source:

Texmaco Rail & Engineering Receives Order Worth Rs. 3.54 Crores from Western Railway Texmaco Rail & Engineering Limited, an Adventz Group company, announced it has received an order from Western Railway valued at Rs. 3.54 crores. The order pertains to the provision of anti-bird discs on insulators in the electrified territory of the Vadodara Division.The project, awarded by a domestic entity, requires completion within 18 months from the date of the Letter of Acceptance. The value of the order is stated as Rs. 3.54 crores, excluding taxes. Neither the promoter group, nor any group companies have an interest in Western Railway, and the order does not constitute a related party transaction.ParticularsDetailsName of the entity...