Markets

Asian Markets Reverse Gains as Nikkei, Kospi Slide Up to 3% After Trump’s Iran War Remarks Asian Markets Today Asian markets surrendered early gains on Thursday, April 2, as investor sentiment weakened following US President Donald Trump’s latest address on the ongoing Iran war. The speech heightened geopolitical concerns, triggering a broad sell-off across key regional indices.Japan’s Nikkei 225 declined 1.4% after the address, while the broader Topix index slipped 0.94%. In South Korea, the Kospi dropped sharply by 2.82%, and the small-cap Kosdaq fell 3%, reflecting risk-off sentiment among investors.Australia’s S&P/ASX 200, which had opened on a positive note, reversed course to trade 0.48% lower. In Hong Kong, the Hang Seng...

JTL Industries Reports Record Sales Volume in Q4 FY26 Chandigarh, April 2, 2026 – JTL Industries Limited (BSE: 534600 | NSE: JTLIND), a leading manufacturer of structural steel tubes, announced its business performance for Q4 FY26 and FY26.The company achieved its highest-ever quarterly sales volume of 1,23,262 MT in Q4 FY26, surpassing 81,885 MT in Q4 FY25 and 90,429 MT in Q3 FY26, reflecting a 50.5% year-over-year (YoY) and 36.3% quarter-over-quarter (QoQ) growth. This strong performance was driven by robust demand and improved capacity utilization.Export sales in Q4 FY26 reached 11,785 MT, compared to 6,841 MT in Q4 FY25 and 9,592 MT in Q3 FY26, registering a 72.2% YoY and 22.9% QoQ growth. Exports contributed 10.6% to total...

APL Apollo Tubes Ltd. Approves Stock Appreciation Right Units for Employees APL Apollo Tubes Limited announced the approval of 30,00,000 Stock Appreciation Right (SAR) units to eligible employees under its Stock Appreciation Rights Scheme - 2019. The Nomination and Remuneration Committee approved the grant on April 1, 2026.The exercise price per SAR unit was determined at ₹1937. The SAR units will vest and can be exercised within 1 year from the date of last vesting. The total number of shares to be allotted upon exercise of these SAR units will be determined by the appreciation per SAR unit multiplied by the number of SAR units exercised, divided by the market price at the time of exercise. The scheme is administered by the...

Shriram Pistons & Rings Announces Reorganization of Riken Corporation New Delhi – Shriram Pistons & Rings Ltd. announced April 1, 2026, that a reorganization of its technical collaborator, Riken Corporation, a Japanese entity holding 21.30% equity in the company, has become effective.Under the reorganization, Riken Corporation has been renamed NPR-RIKEN Nigata Corporation. Certain business divisions and contractual rights/obligations of Riken Corporation have been transferred to NPR-RIKEN Corporation under Japanese law.The company confirmed that all existing Technical Assistance Agreements and Technical Collaboration Agreements remain in effect, now succeeded by NPR-RIKEN Corporation. This ensures continuity of technical and...

Vedanta Limited Subsidiary Faces Environmental Compensation Order Vedanta Limited announced that its subsidiary, Talwandi Sabo Power Limited (TSPL), has received a direction from the Commission for Air Quality Management in National Capital Region and Adjoining Areas (CAQM) regarding environmental compensation. The order, dated April 1, 2026, requires TSPL to deposit Rs. 33,02,56,800 for allegedly failing to achieve a minimum five percent blend of pellets or briquettes made of crop residue with coal during the fiscal year 2024-25.According to the CAQM’s direction, the penalty is imposed under Rule 3 of the Environment (Utilization of Crop Residue by Thermal Power Plant) Rules, 2023, read with Section 12 of the CAQM Act, 2021. TSPL...

Kesoram Industries Limited Receives Income Tax Assessment Order Kesoram Industries Limited announced receipt of an Income Tax Assessment Order under section 143(3) read with section 144B of the Income Tax Act, 1961. The order, received on March 31, 2026, from the Assessment Unit, Income Tax Department, pertains to Assessment Year 2024-25 and includes a demand of ₹70.54 Crores.The company reported that the tax authorities made additions and disallowed certain deductions claimed in the Income Tax Return for AY 2024-25.Kesoram Industries Limited believes the additions and disallowances are erroneous and maintains it has strong legal grounds to challenge the demand. As a result, the company does not anticipate a significant impact on...

Lemon Tree Hotels Expands Presence in Jammu & Kashmir with New Srinagar Hotel Lemon Tree Hotels Limited announced the signing of Keys Prima by Lemon Tree Hotels in Srinagar, Jammu & Kashmir, on April 1, 2026. The addition strengthens the company's regional presence, bringing the total number of Lemon Tree Hotels in the Jammu & Kashmir cluster to six, with four currently operational and two under development.The hotel, managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited, will be strategically located 2 km from Srinagar International Airport and 11 km from Srinagar Railway Station.Keys Prima will feature 60 rooms, a restaurant, banquet hall, conference room, swimming pool, fitness...

Power Grid Corporation of India Limited Secures Transmission Project Through Competitive Bidding Power Grid Corporation of India Limited (POWERGRID) has been declared the successful bidder for a transmission system strengthening project in Karnataka. The project, awarded through a Tariff Based Competitive Bidding (TBCB) process, aims to facilitate the integration of additional renewable energy potential.The project, “Transmission System Strengthening at Tumkur-II for Integration of Additional RE Potential (2.7 GW),” will be developed on a Build, Own, Operate and Transfer (BOOT) basis. POWERGRID received the Letter of Intent (LoI) on April 1, 2026, following the bidding process.The scope of work includes the construction of a 400 kV...

Lamosaic India Limited Receives Administrative Warning Letter from SEBI Lamosaic India Limited received an administrative warning letter from the Securities and Exchange Board of India (SEBI) on April 1, 2026, via email. The warning relates to delayed compliance with Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.The SEBI’s warning stemmed from Lamosaic India Limited’s delayed disclosure regarding a search and seizure conducted by the Directorate General of Goods and Services Tax Intelligence (DGG) on April 9, 2025. The company was required to disclose this information by April 10, 2025, but initially filed the disclosure on April 24, 2025, with a 14-day delay. A complete...

Sattrix Information Security Ltd. Receives Letter of Intent from Public Sector Bank Sattrix Information Security Ltd. announced it has received a Letter of Intent (LoI) from a leading Public Sector Bank of India. The LoI is for the engagement of the company as a Managed Security Service Provider (MSSP).The contract entails the supply of cybersecurity services for a period of three years with a total value of Rs. 9,30,00,000 (Rupees Nine Crore Thirty Lakhs only), excluding applicable taxes.The table below outlines key details of the agreement:SR. No.ParticularsDetails1Entity Awarding OrderLeading Public Sector Bank of India2Terms and ConditionsSupply of Cybersecurity Services as Managed Security Service Provider (MSSP)...

JTL Industries Subsidiary Renamed to JTL Defence Limited, Adopts New Logo JTL Industries Limited announced on April 2, 2026, a change in the name of one of its subsidiary companies. Following approval from the Ministry of Corporate Affairs, RCI Industries & Technologies Limited has been renamed to JTL Defence Limited, effective April 1, 2026.The company also reported that JTL Defence Limited has formally adopted a new official logo.This change reflects an evolution in the subsidiary's identity.Source:

Shree Cement Limited Receives Draft Assessment Order Shree Cement Limited announced today, April 2, 2026, that it received a draft Assessment Order under section 144C (1) of the Income Tax Act, 1961, pertaining to fiscal year 2022-23. The order was received from the Assistant Commissioner of Income Tax, Central Circle, Ajmer, on March 31, 2026.The draft assessment order proposes disallowances and additions to the returned income, potentially leading to a demand of approximately Rs. 149 Crs (excluding interest), which will be adjusted against pending refunds due to the company.According to Shree Cement Limited, the company, in consultation with its legal counsel, believes the disallowances are not sustainable and will file objections...

Punjab National Bank Announces Senior Management Changes Punjab National Bank announced changes to its senior management team, effective April 1, 2026. The changes, detailed in a communication to the National Stock Exchange of India Limited and BSE Limited, involve several shifts in leadership roles within the bank.Firoz Hasnain will transition from Chief General Manager, MSME & MCC Division, Head Office to Chief General Manager, MSME, MCC & Mid Corporate & Retail, Head Office. Sunil Kumar Goyal will move from Chief General Manager, DBTD, Head Office to Chief General Manager, Data Analytics & Strategic Innovation, Head Office. Sanjay Gupta will assume the role of Chief General Manager, Operations (ADC & Recon and Data Privacy &...

Atlanta Electricals Receives Approval for 400KV Transformer Manufacturing Anand, Gujarat, April 1, 2026 – Atlanta Electricals Limited (NSE, BSE: ATLANTAELE), a manufacturer of power transformers, announced it has received approval from Powergrid Corporation of India Ltd. (PGCIL) for up to 400 kV class transformer manufacturing at its Vadodara facility. The approval was secured within two years of groundbreaking for the facility.This approval validates Atlanta Electricals' commitment to entering the EHV class transformer supply market, contingent upon meeting qualifying requirements for 400KV transformers and completion of a short-circuit test. The PGCIL and National Accreditation Board for Testing and Calibration Laboratories (NABL)...

Emcure Pharmaceuticals Acquires and Amalgamates Cutimed Inc. Emcure Pharmaceuticals Limited announced on April 2, 2026, that its step-down subsidiary, Mantra Pharma Inc., has acquired 100% of the issued and outstanding shares of Cutimed Inc. Consequently, Cutimed has become a step-down wholly owned subsidiary of Emcure Pharmaceuticals. Following the acquisition, Cutimed has been amalgamated with Mantra, effective April 1, 2026 (EDT).Cutimed Inc., incorporated in Canada, is engaged in the cosmetics and personal care products sector, including dermatological creams and cleanser products. It operates primarily in the Canadian market. Cutimed's annual turnover for the last three financial years was approximately CAD$ 2.8 million in 2025...

VIP Industries Limited Faces Penalty from CGST and Central Excise Department VIP Industries Limited announced that the Assistant Commissioner, CGST and Central Excise, Nashik-I Division, Maharashtra, has imposed a penalty of Rs. 41,03,005/- (CGST+SGST) under Section 122 of the CGST Act, 2017.The penalty, received on March 31, 2026, relates to a demand for passing of Input Tax Credit (ITC) in contravention of the CGST Act and related rules.According to the company, the penalty is not expected to have a material impact on VIP Industries Limited's financial performance, operations, or other activities, aside from the aforementioned GST liability. The company intends to appeal the order through the appropriate appellate authorities...

V2 Retail Limited Reports Robust Q4 FY26 and FY26 Performance V2 Retail Limited announced a strong performance for the quarter and fiscal year ended March 31, 2026, marking a significant milestone in its transition to a national platform. The company highlighted accelerated network expansion and focused investments in operational transformation and customer-centric innovation.Q4 FY26 Performance Standalone revenue for Q4 FY26 reached ₹ 798 crore, a 59% increase compared to ₹ 499 crore in Q4 FY25. This growth was achieved on a high base, demonstrating the scalability of the company's value-fashion model.Key highlights for Q4 FY26 include:Same Store Sales Growth (SSSG): 7.74% Monthly Sales Per Square Feet (PSF): ₹ 794 Store...

Ador Welding Limited Receives Income Tax Demand Notice Ador Welding Limited announced today that it received a notice of demand dated March 31, 2026, from the Income Tax Department, Ministry of Finance, Government of India. The notice pertains to matters relating to assessment year 2023-24 and a sum of Rs. 13,68,80,598 has been determined to be payable by the company.According to the assessment order, the Income Tax Department has made additions of Rs. 5,23,35,382 to the company’s returned income. Ador Welding Limited disputes these additions and intends to pursue legal options, including an appeal before the National Faceless Appeal Centre and a rectification application. The company is also evaluating other legal options.The...

Acme Solar Holdings Limited Announces Phase Four Commissioning of Battery Energy Storage System Project Acme Solar Holdings Limited announced the commissioning of the fourth phase of its Battery Energy Storage System (BESS) project located in Rajasthan. The project, undertaken by the company’s wholly-owned subsidiary, ACME Sun Power Private Limited, has a total capacity of 300 MW/1409.34 MWh.The newly commissioned phase has a capacity of 33.333 MW/160.48 MWh. The commercial operation date for this phase is April 3, 2026.With the completion of phase four, ACME Sun Power Private Limited has reached a commissioned capacity of 133.336 MW/641.980 MWh out of the total project capacity. This follows prior updates on March 6, 2026, March...

Texmaco Rail & Engineering Receives Order Worth Rs. 41.47 Crores Texmaco Rail & Engineering Limited, an Adventz Group company, announced it has received an order from M/s. Sushila Transport Pvt. Ltd. The order, valued at Rs. 41.47 crores (excluding taxes), is for Auto Car Taller Wagon type ACT 1 and Brake Van Type BVCM with latest RDSO Drawings.The delivery of the rakes is scheduled to be completed by December 31, 2026. The order is considered domestic and does not involve any related-party transactions. Promoters, promoter groups, or group companies do not have any interest in Sushila Transport Pvt. Ltd.Here’s a summary of the order details:ParticularsDetailsName of entity awarding the order(s)/contract(s)M/s. Sushila...