Markets

Himatsingka Seide Limited Faces Tax Order, Plans Appeal Himatsingka Seide Limited announced receipt of an assessment order from the Income Tax Department, Kolkata, pertaining to the assessment year 2023-24. The order, received on March 31, 2026, proposes additions to income totaling Rs. 51.70 crore under section 92CA(3) and includes a demand notice of Rs. 14.17 crore.The company stated that it filed its return of income within the due date. Himatsingka Seide Limited believes the additions made by the Assessing Officer are not justified and intends to file an appeal against the order.Management indicated that the company does not believe the resultant tax demand is payable and that there is currently no immediate impact on its...

Rathi Steel & Power Ltd. Reports 63.5% YoY Revenue Growth in Q4 FY26 New Delhi, April 1, 2026 – Rathi Steel & Power Limited (BSE -504903), a leading player in stainless steel long products and TMT bars, announced revenue of approximately ₹ 244.8 Crores for the fourth quarter of fiscal year 2026. The company reported annual revenue of approximately ₹ 716.7 Crores for fiscal year 2026, compared to ₹ 505.43 Crores in fiscal year 2025, reflecting a 41.8% year-over-year growth.The company highlights its unique position in the stainless steel wire rod space, noting that it is the only Indian company with direct charging capabilities for rolling stainless steel wire rod. This process minimizes fuel consumption compared to conventional...

Choice International Acquires 100% Stake in Optimo Investment Adviser Private Limited Choice International Limited announced on April 1, 2026, that it has entered into an arrangement to acquire a 100% equity stake in Optimo Investment Adviser Private Limited (Optimo). Following the acquisition, Optimo will become a wholly owned subsidiary of Choice International.Optimo has applied to the Ministry of Corporate Affairs (MCA) to change its name to Choice Unified Services Private Limited or another name approved by the MCA. Additionally, the company intends to alter Optimo’s object clause to align with its proposed business activities.The transaction, valued at Rs. 1,000, will be executed on an arm's length basis and constitutes a...

Ekam Leasing Files First Motion Application with NCLT for Amalgamation Scheme Ekam Leasing & Finance Company Ltd. has filed a Joint First Motion Application with the National Company Law Tribunal (NCLT) in New Delhi on March 31, 2026, concerning a Scheme of Amalgamation. The scheme involves the amalgamation of Rex Overseas Private Limited and S & S Balajee Mercantile Private Limited with Ekam Leasing & Finance Co. Limited, along with their respective shareholders and creditors.The filing, Diary No. 0710102/02425/2026, follows previous notifications dated January 23, 2026, and January 31, 2026.Further updates related to the amalgamation scheme will be provided as necessary, in accordance with applicable laws and regulations.Rakesh...

Lexoraa Industries Acquires Any and Every Export Limited Lexoraa Industries Ltd. announced the acquisition of a 100% shareholding in Any and Every Export Limited on April 1, 2026. The acquisition was made through a Share Transfer Instrument.Any and Every Export Limited is based in Hong Kong and operates in the general trading sector. The company was incorporated on February 14, 2025, and had a turnover of NIL as per its last audited financials for the fiscal year 2024-25.Lexoraa Industries intends to leverage the acquisition for expansion into international trade of goods, sourcing and distribution, and cross-border merchant trading. The total cost of acquisition was INR 10,000. The completion of the acquisition is expected within...

Prime Focus Limited Announces Internal Restructuring of Subsidiaries Prime Focus Limited announced on April 1, 2026, that certain subsidiaries within the group are undergoing internal restructuring to streamline business operations.The restructuring involves two key steps:1. Transfer of Prime Focus Technologies Inc. (PFT US): The entire 100% equity shareholding of PFT US, currently held by Brahma AI Services India Limited (formerly known as Prime Focus Technologies Limited) ('Brahma India'), will be transferred to DNEG S.a.r.l. ('DNEG'). This transfer will also include the conversion of optionally convertible redeemable preference shares issued by PFT US to Brahma India into equity shares, and the conversion of a loan given by...

Hero MotoCorp Increases Investment in Euler Motors Hero MotoCorp Limited announced the completion of an additional investment in Euler Motors Private Limited, an associate company. The investment, finalized on April 1, 2026, involves the acquisition of 268,219 Series E Cumulative Compulsorily Convertible Preference Shares for a total consideration of Rs. 210 crore.Previously, on February 5, 2026, Hero MotoCorp’s Board of Directors had approved a plan to invest up to Rs. 275 crore in Euler Motors, through a combination of primary infusion and secondary purchases. Following this latest acquisition, Hero MotoCorp’s stake in Euler Motors now represents 36.67% on a fully diluted basis.Source:

IndiGo Implements Fuel Charge Revisions Amid Rising ATF Costs National, April 1, 2026 – IndiGo announced revisions to its fuel charges on both domestic and international routes, effective April 2, 2026, at 00:01 hours. The changes are a response to a significant increase in Air Turbine Fuel (ATF) prices.According to IATA’s Jet Fuel Monitor, fuel prices for the region have risen by over 130% on a month-on-month comparison. In a move to mitigate the impact on air travelers and the aviation industry, the Ministry of Petroleum & Natural Gas (MoPNG) and Ministry of Civil Aviation (MoCA) have decided to pass on a partial and staggered increase of 25% to airlines for domestic operations.As a result of this, IndiGo has adjusted its domestic...

Eppeltone Engineers Limited Provides Business Update for April 2026 Eppeltone Engineers Limited announced several updates regarding its business operations for April 2026. The company is focused on driving sustainable and scalable growth across key business segments.Water & Gas Meter Segment: Products are progressing through the approval cycle with order inflows anticipated in the next financial year. The company has added experienced professionals with over 15 years of industry experience to increase throughput.AMISP: Approval under the AMISP framework is expected in the first quarter of fiscal year 2026-27.Meter Installation Business: A dedicated team with over 20 years of experience has been established in a new office near...

ICICI Bank Announces Transfer of Investment Management Rights to ICICI Prudential Asset Management Company Limited ICICI Bank Limited announced the completion of a transfer of investment management rights for several Alternative Investment Funds (AIFs) to ICICI Prudential Asset Management Company Limited (IPru AMC), effective April 1, 2026. This development follows previous disclosures made by the bank on May 9, 2025, and March 2, 2026, concerning the proposed transfer of private equity, venture capital, and real estate fund management businesses from ICICI Venture Funds Management Company Limited (IVen) to IPru AMC.According to a communication received by the bank today at 4:20 p.m., IPru AMC has finalized the transfer, executing the...

Wipro Announces Completion of Step-Down Subsidiary Mergers Wipro Limited announced on April 1, 2026, the completion of mergers involving two of its step-down subsidiaries. The mergers, intended to rationalize and consolidate the overall group structure, were finalized on March 30, 2026 (Eastern Time) and March 31, 2026 (Eastern Time), respectively.Capco RISC Consulting LLC merged with The Capital Markets Company, LLC. Capco RISC Consulting LLC reported a turnover of USD 15,287,915 as of March 31, 2025, while The Capital Markets Company, LLC recorded a turnover of USD 284,878,466 for the same period. Both entities are engaged in providing IT services, consulting, business process services, and IT products globally.Separately...

Aavas Financiers Reports Strong Performance in Fiscal Year 2026 Aavas Financiers Limited announced key performance highlights for the quarter and financial year ended March 31, 2026, indicating a period of substantial growth and improved asset quality.The company's Assets Under Management (AUM) reached approximately INR 235 billion, representing a 15% year-over-year increase. Disbursements for the fourth quarter of fiscal year 2026 totaled approximately INR 23.5 billion, up 16% year-over-year and 36% quarter-over-quarter.Key financial and operational metrics include:ParametersPeriodParticularsAUM31-Mar-26~INR 235 bnDisbursementQ4FY26~INR 23.5 bn1+ DPD31-Mar-26~3.17%Gross Stage 331-Mar-26~1.07%Branches31-Mar-26435...

SBI Cards Appoints Amit Batra as Chief Strategy Officer SBI Cards and Payment Services Limited announced the appointment of Amit Batra as Executive Vice President & Chief Strategy Officer, effective July 1, 2026. The appointment was approved by the Board of Directors on April 1, 2026, based on the recommendation of the Nomination and Remuneration Committee.Amit Batra brings approximately thirty years of experience in leadership roles spanning strategy, operations, sales, environmental, social, and governance (ESG), and business transformation. Prior to joining SBI Card, he served as Chief Operating Officer at TransUnion CIBIL India, where he led enterprise transformation initiatives focused on sustainable growth, regulatory...

CRISIL Schedules Board Meeting to Review Financial Results and Consider Interim Dividend Crisil Limited announced that a meeting of its Board of Directors will be held on Thursday, April 16, 2026, and Friday, April 17, 2026, to review the unaudited consolidated and standalone financial results for the first quarter ended March 31, 2026. The Board will also consider the payment of a first interim dividend for the financial year ending December 31, 2026.The unaudited financial results and dividend proposal will be presented to the Board on April 17, 2026, for approval.A "No Trading Window" for employees of Crisil Limited and its subsidiary companies commenced on March 16, 2026, and will remain in effect until April 21, 2026.Source:

Madhuveer Com 18 Network Ltd. Acquires Media and Entertainment Business from Subsidiary Madhuveer Com 18 Network Limited, now known as JOJO Limited, announced the acquisition of the Media and Entertainment Production Business (Business Vertical-1, including the JOJO digital platform) from its wholly-owned subsidiary, Navkar Events Private Limited, on April 1, 2026. The acquisition will be executed on a going concern basis via a slump sale under Section 50B of the Income-tax Act, 1961, and is subject to shareholder approval and other applicable approvals.The consideration for the acquisition is a lump sum of ₹1,00,000, with a significant portion offset by the adjustment of an outstanding loan extended by the Company to Navkar Events...

Maruti Suzuki Reports Production Volume for March 2026 Maruti Suzuki India Limited announced its production figures for March 2026, indicating a significant increase in overall output compared to the same period last year. The company's total production, encompassing both passenger vehicles and light commercial vehicles, reached 231,933 units, a notable rise from 194,901 units produced in March 2025.Passenger vehicle production accounted for the majority of the output, with 227,942 units manufactured, up from 191,180 units a year prior. Light commercial vehicle production, specifically the Super Carry, totaled 3,991 units, compared to 3,721 units in March 2025.A detailed breakdown of production by category is presented below...

Aprameya Engineering Limited Provides Corporate Guarantee to Subsidiary Aprameya Engineering Limited announced that it has provided a corporate guarantee of 4.00 Crores Indian Rupees in favor of Aprameya Medtech Private Limited, a subsidiary in which the company holds 70% of the paid-up share capital, for credit facilities availed from Punjab National Bank.The guarantee secures credit facilities for Aprameya Medtech Private Limited. The transaction qualifies as a related party transaction and will be conducted at arm’s length. Security provided includes a mortgage of property located in Sanand GIDC, Ahmedabad.Transaction Details A summary of the transaction details is provided below:ParticularsDetailsParties InvolvedAprameya...

Arham Technologies Limited Secures Google EDLA Certification for STARSHINE IFPDs Raipur, 1st April 2026 – Arham Technologies Limited (NSE-SME: ARHAM) announced that its Interactive Flat Panel Displays (IFPDs), marketed under its STARSHINE brand, have received Enterprise Devices Licensing Agreement (EDLA) certification from Google and are now powered by the latest Android 14 operating system.The certification allows for seamless integration with the Google ecosystem, including official access to Google Play Store, YouTube, Google Classroom, and other enterprise-grade applications. It also provides enhanced security, compliance, and regular software updates.According to the company, the EDLA certification strengthens its position in...

Glenmark Pharmaceuticals Receives GST Order, Plans Appeal Glenmark Pharmaceuticals Ltd. announced it received an adjudication order from the Joint Commissioner of Central Goods & Service Tax and Central Excise, Mumbai East Commissionerate, on March 26, 2026. The order, communicated via email on March 31, 2026, relates to the financial years 2019-20 and 2020-21.The order alleges that a transaction involving the sale of a brand in fiscal year 2020-21 should be treated as a mixed supply and assessed for a higher rate of Goods and Services Tax (GST). The total demand includes Rs. 16,05,41,509 in CGST/SGST, applicable interest, and Rs. 16,05,41,509 in penalties.Glenmark Pharmaceuticals stated it does not agree with the demand and intends...

Utkarsh Small Finance Bank Limited Receives Approval for Amalgamation Scheme Utkarsh Small Finance Bank Limited announced that its unsecured creditors have approved the scheme of amalgamation between Utkarsh CoreInvest Limited and Utkarsh Small Finance Bank Limited. The approval followed a meeting of unsecured creditors convened by the Hon'ble National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj, held on March 28, 2026.The scheme was approved with a requisite majority. The voting results, including e-voting results, were detailed in a report issued by Scrutinizer Sumit Agrawal of M/s Sumit K.B. Agrawal & Co., Chartered Accountants, dated March 31, 2026.A total of 19 unsecured creditors participated in the e-voting...