Markets

Manali Petrochemicals Receives Madras High Court Order Regarding Labor Dispute Manali Petrochemicals Limited announced on April 2, 2026, that the Hon’ble Madras High Court has issued an order disposing of Writ Petitions related to a wage revision and service conditions dispute with workmen. The petitions, initially filed in 2016 and 2023, challenged awards previously passed by the Industrial Tribunal, Chennai in I.D. Nos. 35 of 2006 and 51 of 2004.The company received the common order from the Madras High Court on March 31, 2026. Manali Petrochemicals is currently assessing the financial and legal implications of the order in consultation with legal counsel and will take appropriate steps as advised. Further material developments will...

HBL Engineering Ltd. Secures Order Worth Rs. 179.79 Crores from Banaras Locomotive Works HBL Engineering Ltd. announced on April 2, 2026, that it has received a Letter of Acceptance from Banaras Locomotive Works (BLW) for the supply, testing, and commissioning of On-board KAVACH equipment (Version 4.0). The order is valued at Rs. 179.79 Crores, inclusive of 18% Goods and Services Tax (GST).The contract, awarded to a domestic entity, is to be completed on or before February 15, 2027.According to the terms of the order, HBL Engineering Ltd. will be responsible for the supply, testing, and commissioning of the On-board KAVACH equipment. The company secretary, G B S Naidu, made the disclosure. Neither the company nor its promoters have...

Savy Infra and Logistics Limited Receives Significant Work Orders Totaling ₹923 Crores Savy Infra and Logistics Limited announced it has received new work orders from Aakshya Infra Projects Pvt. Ltd. and JSW Utkal Steel Limited. The contracts, disclosed on April 2, 2026, collectively represent a value of ₹923 crores.The company has secured work orders for land development related to a Solar Project for Reliance Industries Limited (RIL) in Kutch, Gujarat. The first work order, valid from November 2025 to June 2027, carries a basic value of ₹207 crores. A second work order for the same project, spanning January 2026 to September 2027, is valued at ₹201 crores.Separately, Savy Infra and Logistics has been awarded work orders from JSW...

BEW Engineering Limited Secures Loan Agreement with SIDBI BEW Engineering Limited announced on April 2, 2026, that it has entered into a Loan Agreement dated April 1, 2026, with the Small Industries Development Bank of India (SIDBI). The agreement secures a Term Loan facility of Rs. 307.65 Lakh for acquiring plant and machinery at FE-10, M.I.D.C. Industrial Area, Phase II, Manpada Road, Dombivli East, Dist. Thane, Maharashtra, 421204; and Plot No. TS-9A, MIDC Phase II, Manpada Road, Dombivli East, Thane, Maharashtra, 421204.According to the agreement, SIDBI is entitled to appoint and withdraw Directors on the Board of Directors of BEW Engineering Limited.The loan agreement includes the provision for assets hypothecation as security...

Garware Marine Industries Receives Notice Regarding Equipment Lease Dispute Garware Marine Industries Ltd. has received a notice from the Deputy Superintendent of Police, Economic Offences Wing-II, Chennai, alleging a failure to repay equipment lease rentals. The notice pertains to an Equipment Lease Agreement and amounts to Rs. 3,54,83,661.50. The company has been directed to appear before the authority within 15 days with payment receipts and relevant documents.The dispute is linked to ongoing litigation involving Integrated Finance Company Limited (IFCL) and Garware Marine Industries Ltd. concerning the recovery of machinery lease rent. Garware Marine has deposited Rs. 30 Lakhs in the Hon. High Court of Madras as part of this legal...

Ujjivan Small Finance Bank Reports Strong Growth in Deposits and Loans for Fiscal Year 2026 Ujjivan Small Finance Bank Limited announced key business highlights for the quarter and financial year ended March 31, 2026, reporting substantial growth in deposits and loan book.Deposit Growth:Total deposits increased by 21.3% year-over-year to ₹45,661 crore compared to ₹37,630 crore in the prior year. The bank’s CASA (Current Account, Savings Account) grew to ₹13,055 crore, a 35.8% increase year-over-year. The CASA ratio stands at 28.6%. The credit-deposit ratio is reported at 89.0%.Loan Book Expansion:The gross loan book expanded by 26.6% year-over-year to ₹40,655 crore from ₹32,122 crore in the previous year. Group Loans constitute...

Freshara Agro Exports Limited Receives Government Subsidy for Expansion Freshara Agro Exports Limited announced it has received a formal sanction letter and approval from the Ministry of Food Processing Industries (MoFPI), Government of India, under the Creation/Expansion of Food Processing & Preservation Capacities ('CEFPPC') scheme of the Pradhan Mantri Kisan Sampada Yojana ('PMKSY'). The approval was received on April 1, 2026.The company is eligible for a Grant-in-Aid/Subsidy of ₹4,20,68,000 (Rupees Four Crore Twenty Lakhs Sixty-Eight Thousand only). This financial assistance will support Freshara Agro Exports Limited’s expansion plans in the food processing segment and strengthen its manufacturing capabilities.The approval...

Bondada Engineering Ltd. Secures Orders Worth Rs. 42.50 Crores Bondada Engineering Limited (BSE: 543971) announced the receipt of multiple orders totaling Rs. 42.50 Crores, bolstering the company’s order book across telecom infrastructure and environmental sustainability segments.The company received a Letter of Award from Telangana Police Housing, Infratech & Consultancy Services Corporation Limited (TGPICS) for the supply of self-supported communication towers and prefabricated equipment rooms. This project is part of a statewide communication network initiative for the Telangana Police IT&C Department.Additionally, Bondada Engineering received an order from Fixity Technologies Private Limited for the execution of Plastic Waste...

Marico Reports Q4 FY2026 Quarterly Update Marico Limited announced a quarterly update detailing operating performance and demand trends for the quarter ended March 31, 2026. A detailed information update will follow once the Board approves the audited consolidated and standalone financial results.The sector experienced stable demand sentiment during the quarter. Marico anticipates a gradual improvement in consumption trends in upcoming quarters, while monitoring the macroeconomic impact of geopolitical developments in the Middle East.India Business Performance The India business sustained high single-digit underlying volume growth, with a slight sequential improvement. The Parachute brand recorded low single-digit volume growth...

Tirupati Sarjan Ltd. Receives Income Tax Demand Notices Tirupati Sarjan Ltd. announced it has received notices of demand under Section 156 of the Income Tax Act, 1961. The notices, received on March 30, 29, 28 and 26, 2026, relate to assessments for the years 2016-17, 2017-18, 2020-21 and 2018-19.The notices pertain to additions of unexplained expenditure and cash credit to the total income, as determined by the Assistant Commissioner of Income Tax, Gandhinagar Circle. The amounts demanded are Rs. 4,697,284.60, Rs. 5,86,36,170, Rs. 1,00,47,730, and Rs. 6,56,19,630 respectively.The company is in the process of preferring an appeal before the Appellate Authority. The notices are part of a larger ongoing review, and the company...

Sai Silks (Kalamandir) Reports Revenue Growth in Q4 FY 2025-26 and Full Year Sai Silks (Kalamandir) Limited announced a business update for the quarter and financial year ended March 31, 2026, reflecting positive revenue performance and expansion of its retail network.Revenue PerformanceThe company reported a turnover of Rs. 419 crores for Q4 FY 2025-26, a 5% increase compared to Rs. 399 crores in Q4 FY 2024-25. For the full financial year FY 2025-26, Sai Silks (Kalamandir) recorded a turnover of Rs. 1,653 crores, up 13% from Rs. 1,462 crores in FY 2024-25.Store ExpansionDuring FY 2025-26, Sai Silks (Kalamandir) expanded its retail presence by launching 13 new stores, adding 78,618 square feet of retail space. The new stores...

Steel City Securities Limited Receives Penalty from National Stock Exchange Steel City Securities Limited (CIN: L67120AP1995PLC019521) announced that it has received a penalty of INR 8,300 from the National Stock Exchange of India Limited (NSEIL). The penalty stems from an inspection conducted in August 2025, covering the F & O and CD segments.NSEIL issued a letter, reference number NSE/lNSPENF/FOCDS/OFFsrrE/25-26/ACT/08061/2025-61226, dated April 1, 2026, outlining the penalty. The company confirmed that the penalty will not have a material impact on its operations.According to a filing, Steel City Securities Limited is a member of NSE, BSE, MSEI, MCX & NCDEX Capital Market, Equity Derivatives, Currency Derivatives & Commodity...

YOGI Ltd. Allots 18.4 Lakh Equity Shares Following Conversion of Warrants YOGI Ltd. announced the allotment of 18,40,000 equity shares on April 2, 2026, resulting from the conversion of an equal number of convertible warrants. The allotment was made in the third tranche and follows a special resolution passed by shareholders on October 24, 2024, and prior in-principle approval from BSE Limited.Mr. Tirth Ghanshyam Patel, an entity belonging to the Promoter Group, received all 18,40,000 shares. He held 43,66,081 shares pre-issue, representing 10.12% of the company, and now holds 62,06,081 shares, which represents 13.79% of the company.The consideration for the allotment was Rs. 32 per share, reflecting a payment of Rs. 24 per share...

TD Power Systems Limited Appoints Deepak Kumar Sinha as Chief Executive Officer TD Power Systems Limited announced the appointment of Mr. Deepak Kumar Sinha as Chief Executive Officer, effective April 3, 2026. The appointment was made following a recommendation from the Nomination and Remuneration Committee and approved by the Board of Directors at a meeting held on April 2, 2026.Mr. Sinha holds a Bachelor’s degree in Electrical Engineering from Bhagalpur Engineering College and a Post Graduate Diploma in Business Administration from the Indian Institute of Management, Kozhikode. He possesses over 30 years of experience in the power sector, most recently serving as Chief Executive and Whole-time Director of L&T-MHI Power Turbine...

Ceigall India Subsidiary Executes 15 Power Purchase Agreements for 130 MW Solar Capacity Ceigall Green Energy MP Limited, a wholly owned subsidiary of Ceigall India Limited, has completed the execution of 15 Power Purchase Agreements (PPAs) with Madhya Pradesh Power Management Company Limited (MPPMCL) on April 1, 2026. The PPAs are for a total awarded solar capacity of 130 MW under the Surya Mitra Krishi Feeder Yojana.Under the agreements, Ceigall Green Energy MP Limited will implement, operate, maintain, and supply power from solar photovoltaic generating stations for a period of 25 years at a tariff of ₹2.85 per unit. The Surya Mitra Krishi Feeder Yojana is a government initiative designed to provide reliable daytime power to the...

Alkem Laboratories Increases Investment in Ujjain Manufacturing Facility Alkem Laboratories Limited announced an increase in investment for its greenfield formulations manufacturing facility in Ujjain, Madhya Pradesh. The company initially received an allotment letter on March 18, 2026, for 30 acres of land within the DMIC Vikram Udyogpuri Limited industrial area, Phase-2, Ujjain. The initial investment approval from the Board of Directors was up to INR 533 crores, to be made in a phased manner.On April 2, 2026, the Board approved an increase in the investment, now totaling up to INR 1036 crores, also to be deployed in phases. The facility is intended to manufacture formulations. A copy of the announcement will be available on the...

Shilchar Technologies Ltd. Receives GST Order Shilchar Technologies Ltd. announced receipt of an order dated March 26, 2026, from The Joint Commissioner of Central Tax, CGST and Central Excise, Vadodara-I. The order was received April 1, 2026.The order confirms a GST demand of Rs. 3,21,20,305, along with an interest amount of Rs. 2,13,023, and a penalty of Rs. 50,000. The total demand is Rs. 3,57,97,625, which includes interest of Rs. 2,78,699 and a penalty of Rs. 2,00,000. Shilchar Technologies has already paid Rs. 1,95,851 in tax, Rs. 1,77,297 in interest, and Rs. 50,000 in penalty, which has been appropriated against the confirmed demand.The interest was levied under Sections 50(1) / (3) of the CGST Act, 2017 and a penalty of Rs...

Pondy Oxides & Chemicals Limited Announces Demise of Chairman Anil Kumar Bansal Pondy Oxides & Chemicals Limited announced the passing of Mr. Anil Kumar Bansal, Promoter, Chairman, and Whole-time Director, on April 1, 2026. The company expressed deep sympathy and sorrow to his family and emphasized the significant loss his passing represents to the company and its employees.Directors acknowledged Mr. Bansal’s dedication and legacy, stating his values and guidance will continue to inspire the company. He was described as an integral part and pillar of strength for Pondy Oxides & Chemicals Limited.Details regarding the change in directorship, as required by regulatory guidelines, are summarized below:DetailInformationNameMr...

Hemant Surgical Industries Ltd. Enters into C-ARM Development and Supply Agreement with GBT Korea Co., Ltd. Hemant Surgical Industries Ltd. announced on April 2, 2026, that it has entered into a C-ARM Development and Supply Agreement with GBT Korea Co., Ltd., based in the Republic of Korea.The agreement aims to collaborate with GBT Korea’s technological expertise to develop and localize x-ray generators, electronic control systems, and c-arm imaging devices. These devices utilize fluoroscopy x-ray technology to provide real-time, high-resolution imaging during surgical orthopaedic, trauma, and cardiovascular procedures.The size of the agreement cannot be disclosed due to confidentiality obligations. Neither party holds any...

United Breweries Ltd. Receives Order Regarding Tax Litigation United Breweries Ltd. has received an order from the Deputy Commissioner of State Tax, Maharashtra State VAT Department. The order, dated March 30, 2026, and received April 1, 2026, concerns the non-submission of declaration forms in C & F for a concessional rate of tax.The demand issued under Section 9(2) of the Central Sales Tax Act 1956 totals ₹ 22,50,12,884, encompassing ₹ 9,65,72,053 in additional tax, ₹ 10,42,97,818 in interest, and ₹ 2,41,43,013 in penalty, all pertaining to the fiscal year 2021-22.The company is currently evaluating its course of action and anticipates defending the matter before the appellate authority. United Breweries Ltd. does not expect a...