Markets

Berger Paints India Ltd. Announces Board Meeting for Financial Results and Potential Dividend Berger Paints India Ltd. will hold a meeting of its Board of Directors on Tuesday, May 12, 2026. The meeting’s primary agenda is to review and approve the Audited Financial Results for both standalone and consolidated operations for the quarter and financial year ending March 31, 2026.During the meeting, the Board will also consider a recommendation for a dividend on the company’s equity shares for the financial year concluded on March 31, 2026.Source:

Deepak Nitrite Ltd. Receives Order from GST Authorities Impacting Subsidiary Deepak Nitrite Ltd. announced that the Commissioner (Appeal), CGST & Central Excise (Appeals), Vadodara, Gujarat, issued an order against Deepak Phenolics Limited (DPL), a wholly-owned subsidiary of the company, on March 6, 2026. The order, downloaded on March 31, 2026, pertains to the recovery of ineligible Input Tax Credit and imposition of a penalty.The GST Authorities rejected the appeal and upheld the order, resulting in a demand for recovery of ineligible Input Tax Credit of 21,53,47,980, along with applicable interest. Additionally, a penalty of 21,53,47,980 was imposed. The breakdown is as follows:Sr. No.Details of eventsInformation of such...

Fortis Healthcare Receives Income Tax Order Demanding 149.12 Crores Fortis Healthcare Limited announced that its wholly owned subsidiary, Fortis Hospitals Limited, has received an Income Tax Order concerning the Assessment Year 2021-22. The order, dated March 27, 2026, stipulates a demand of 149.12 Crores.The event occurred on March 31, 2026, at 1:35 PM. Fortis Hospitals Limited is currently evaluating options, including filing an appeal and a rectification application against the order. The potential financial implications associated with this demand amount to 149.12 Crores.ParticularsDetailsName(s) of the opposing partyIncome Tax AuthorityCourt/ tribunal/agency where litigation is filedIncome Tax AuthorityBrief details...

Ola Electric Reports Strong March Performance as Daily Orders Surpass 1,000 Units Ola Electric today announced a resurgence in business performance, with daily orders exceeding 1,000 units in the last week of March 2026 and registrations rising to 10,117 units during the month, up from 3,973 units in February. This represents a monthly increase of over 150% in registrations, signaling a sharp recovery in demand momentum. The company also noted a V-shaped monthly recovery in market share.The improved performance is attributed to structural changes in service operations. The company reports that over 80% of vehicles are now serviced on the same day, facilitated by improved parts availability, faster diagnostics, and tighter operational...

Lemon Tree Hotels Elevates Keys Select Property to Keys Prima in Bengaluru Lemon Tree Hotels Limited announced the rebranding of its Whitefield, Bengaluru hotel from Keys Select by Lemon Tree Hotels to Keys Prima by Lemon Tree Hotels, effective April 1, 2026. The repositioning aims to capture evolving, higher-value demand in the area.Located in Whitefield, a prominent IT and commercial corridor in Bengaluru, the hotel offers 222 well-appointed rooms and suites designed for business travelers, along with banquet and meeting facilities. The rebranding marks a move up the value chain, with enhanced design, contemporary spaces, and elevated service.According to Mr. Vishvapreet Singh Cheema, President of Lemon Tree Hotels, the upgrade...

Zydus Lifesciences Limited Receives Demand Order for Tax Period 2019-20 to 2023-24 Zydus Lifesciences Limited announced today, April 1, 2026, that it has received a Demand Order-In-Original from the Assistant Commissioner, Central Goods and Services Tax, Division-Ambala. The order pertains to an alleged reversal of inadmissible Input Tax Credit for the tax period spanning financial years 2019-20 to 2023-24.The total demand, including interest and penalty, amounts to Rs. 14.20 million. The company stated that it firmly believes it has strong merits regarding the matter and intends to appeal the order.According to the company, the Demand Order was received at 11:41 a.m. on March 31, 2026. Zydus Lifesciences anticipates a favorable...

NTPC Group Capacity Reaches 89,145 MW Following Subsidiary’s Project Commissioning NTPC Ltd. announced on April 1, 2026, that a project undertaken by its subsidiary, NTPC Green Energy Limited (NGEL), has reached commercial operation. The announcement, stemming from a disclosure by NGEL, details the commissioning of capacity at a Gujarat-based renewable energy project.Specifically, 37.5 MW of solar power, representing the fourth phase of a 150 MW solar project, commenced operations on April 2, 2026. Additionally, 13.2 MW of wind power, the seventh phase of a 100 MW hybrid project combining wind and solar, also began operations on the same date. The hybrid project’s total installed capacity is 92.4 MW for wind and 37.5 MW for solar.As...

Gallantt Ispat Ltd. Receives Rs. 233.55 Crores in Subsidies from Uttar Pradesh Government Gallantt Ispat Ltd. announced it has received a subsidy of Rs. 233.55 crores from the Uttar Pradesh State Government. The subsidy, stemming from the Infrastructure and Industrial Investment Policy-2012 and 2017, represents a refund of State Goods and Services Tax (SGST) through June 2025.The company confirmed it is not currently utilizing term loans or unsecured financing. As a result of the surplus funds generated by the subsidy, Gallantt Ispat has invested a total of Rs. 300.01 crores as a fixed deposit with HDFC Bank Limited, alongside other available funds. This amount incorporates the received subsidy.Source:

Bank of Maharashtra Announces Senior Management Changes Bank of Maharashtra announced changes to its senior leadership team, effective April 1, 2026. The appointments elevate three executives to the position of Chief General Manager.Devdatta Vitthal Rokade, aged 54, has been appointed Chief General Manager. Rokade joined the Bank in 2004 as a Specialist IT officer and holds a BE in Electronics & Communication. His previous roles included experience across branch, zonal, and head office tiers, most recently overseeing Operations, Strategy, ABC & Resource Planning Departments.Arun Fanidhar Kabade, aged 57, also assumes the role of Chief General Manager. Kabade joined Bank of Maharashtra in 1998 as a Specialist IT officer with an M Sc...

Paradeep Phosphates Ltd. Commissions Sulphuric Acid Plant, Boosts Fertilizer Production Paradeep Phosphates Ltd. announced the successful commissioning of a 300 tonnes per day (TPD) Sulphuric Acid Plant at its Mangalore unit, effective March 31, 2026.The new plant is expected to enhance the company’s captive Sulphuric Acid production, ensuring a reliable supply of a critical raw material for fertilizer manufacturing. This development aims to reduce import dependence and improve operational efficiency. The facility will also utilize waste heat, improving energy efficiency and lowering the company’s carbon footprint.The project involved a total expenditure of approximately Rs. 240 Crores, financed through internal accruals and term...

IRB InvIT Fund Receives Credit Rating Reaffirmation April 1, 2026 – IRB InvIT Fund has received a reaffirmation of its credit ratings from Care Ratings Limited. The ratings reflect the Trust’s financial strength and operational performance.Care Ratings has reaffirmed the long-term bank facilities at CARE AAA; Stable, and the issuer rating at CARE AAA; Stable. The amount for long-term bank facilities has been reduced from Rs. 2,728.18 crore to Rs. 2,501.11 crore.The following table summarizes the reaffirmed ratings:Facilities / InstrumentsAmount (Rs in crore)RatingRating actionLong Term Bank Facilities @2,501.11CARE AAA; StableRe-affirmedIssuer Rating-CARE AAA; StableRe-affirmedSource:

Mahindra & Mahindra Reports Robust Sales Growth in March 2026 Mumbai, April 1, 2026: Mahindra & Mahindra Ltd. (M&M Ltd.) announced auto sales of 99,969 vehicles for March 2026, a 21% growth including exports.In the Utility Vehicles segment, Mahindra sold 60,272 vehicles in the domestic market, a 25% growth. Overall, 62,109 vehicles, including exports, were sold. Domestic sales for Commercial Vehicles stood at 24,928, a 11% growth.The financial year concluded with all-time-high volumes of 660,276 SUVs and 289,597 LCVs (<3.5T), delivering robust year-over-year growth of 20% and 13%, respectively, across both segments.According to Nalinikanth Gollagunta, CEO of the Automotive Division, "The Financial year ended on a very positive...

Power Mech Projects Limited Secures Order from Hindustan Zinc Power Mech Projects Limited announced on April 1, 2026, that it has secured a work order from Hindustan Zinc Limited. The order, valued at ₹ 109.22 Crores (excluding Goods & Services Tax), involves operation and maintenance services for a 91.5MW CPP and transmission line up to the MRSS.Under the terms of the contract, Power Mech will act as an independent contractor, providing comprehensive operation and maintenance services to Hindustan Zinc. The project is expected to be executed within forty-eight months.Hindustan Zinc Limited, a domestic entity, awarded the work order. Neither the company nor its promoters or group companies have any interest in Hindustan Zinc. The...

DEE Development Engineers Limited Secures Tariff Order for Biomass Power Plant, Anticipates ₹5.80 Crore Revenue Recovery DEE Development Engineers Limited announced that the Punjab State Electricity Regulatory Commission (PSERC) has determined a tariff for the 6 MW biomass-based power plant of its wholly owned subsidiary, M/s Malwa Power Pvt. Ltd. (MPPL), located in Punjab. The order, dated March 27, 2026, covers an extended term of 10 years following the expiry of the initial 20-year Power Purchase Agreement (PPA) with Punjab State Power Corporation Limited (PSPCL), which concluded April 26, 2025.During the pendency of the petition, MPPL received an interim tariff of ₹3.50 per kWh. The Commission’s new tariff is ₹5.224 per kWh...

Shipwaves Online Limited Secures Logistics Digitalization Order from FedEx Shipwaves Online Limited has received purchase orders totaling Rs. 35,68,500 from FedEx Express Transportation & Supply Chain Services (India) Pvt. Ltd. The orders are for the implementation and maintenance of a comprehensive, end-to-end logistics digitalization solution tailored to FedEx's operational needs.The contract, awarded on an immediate basis, falls within domestic operations and does not involve any related party transactions. Promoters, promoter groups, or group companies have no interest in FedEx Express Transportation & Supply Chain Services (India) Pvt. Ltd.Order Details:ParticularsDetailsEntity Awarding OrderFedEx Express Transportation...

Power Grid Corporation of India Appoints Burra Vamsi Rama Mohan as Chairman & Managing Director Power Grid Corporation of India Limited (POWERGRID) announced the appointment of Shri Burra Vamsi Rama Mohan as Chairman & Managing Director (CMD) effective April 1, 2026. The appointment follows a Ministry of Power order dated March 18, 2026.Shri Vamsi Rama Mohan, DIN: 09806168, previously served as Director (Projects) at POWERGRID. His term will continue until his superannuation on July 31, 2030, or until further orders.He holds a Post Graduate Diploma in Planning & Project Management and a Post Graduate Diploma in Management from the Management Development Institute (MDI, Gurugram). Shri Vamsi also participated in leadership programs...

DEE Development Engineers Limited Announces Final Tariff Order for Biomass Power Project DEE Development Engineers Limited announced that the Punjab State Electricity Regulatory Commission (PSERC) has determined the tariff for the 6 MW biomass-based power plant of its wholly-owned subsidiary, Malwa Power Pvt. Ltd. (MPPL), located in Village Gulabewala, Mukatsar, Punjab.The order, dated March 27, 2026, follows directions from the Appellate Tribunal for Electricity (APTEL) and concerns the extended 10-year term of the project beyond its initial 20-year period, which expired on April 26, 2025. The plant was initially commissioned on April 27, 2005, under a Power Purchase Agreement (PPA) with Punjab State Power Corporation Limited...

Paisalo Digital Limited Receives Credit Ratings from Infomerics Analytics Paisalo Digital Limited announced that Infomerics Analytics and Research Private Limited has assigned new ratings for its Non-Convertible Debentures (NCDs) and reaffirmed existing ratings for its bank facilities and commercial paper.The ratings, as of March 31, 2026, are detailed in the table below:Borrowings Type / Instrument TypeRatingAmount (Rs. Crores)Rating ActionLong Term Bank FacilitiesIVR AA/Stable4500ReaffirmedNon-Convertible Debentures (NCD)IVR AA/Stable559ReaffirmedNon-Convertible Debentures (NCD)IVR AA/Stable1500AssignedCommercial Paper (CP)IVR A1+540ReaffirmedThe company's total outstanding ratings amount to ₹7,099.00 Crores...

Bosch Home Comfort India Limited Updates on Gas Supply Restriction Bosch Home Comfort India Limited, formerly known as Johnson Controls-Hitachi Air Conditioning India Limited, announced an update on April 1, 2026, regarding the impact of restricted gas supply. The update follows an earlier notification on March 10, 2026, concerning the invocation of force majeure by gas suppliers and a subsequent government order limiting supply due to the ongoing war situation in Asia’s Middle East region.The company has evaluated the situation and confirmed that the restricted gas supply does not currently have a material impact on operations. Bosch Home Comfort India Limited maintains sufficient inventory of finished goods to meet market demand...

Kinetic Engineering Ltd. Invests in Subsidiary Kinetic Watts and Volts Limited Kinetic Engineering Limited announced an investment of INR 10,00,00,000 (Rupees Ten Crore) in its subsidiary, Kinetic Watts and Volts Limited, on April 1, 2026. The investment involves the subscription of 1,00,00,000 equity shares at a price of INR 10 per share.Kinetic Watts and Volts Limited was incorporated on September 27, 2022, and operates in the automobile sector. Following the share allotment, Kinetic Engineering Limited holds an 82.89% stake in Kinetic Watts and Volts Limited.The transaction, which is considered a related-party transaction due to Kinetic Watts and Volts Limited being a subsidiary, was conducted at arm’s length.Kinetic Watts and...