Markets

Vishal Fabrics Ltd. Receives Rectification Order Regarding Input Tax Credit Vishal Fabrics Ltd. announced that it received a Rectification Order from the Office of Commissioner Central GST & Central Excise, Ahmedabad - North, on March 31, 2026. The order revises a previously imposed penalty related to excess/incorrect Input Tax Credit claimed by the company.Previously, on December 31, 2025, the company received an order imposing a penalty of Rs. 24,26,74,876. The Rectification Order reduces the penalty to Rs. 21,35,65,819 under provisions of the CGST/Gujarat GST Act, 2017, the IGST Act, 2017, and the GST (Compensation to states) Act, 2017.The company believes that the revision will have no material financial impact.Table...

Jyothy Labs Resolves ₹110.64 Crore Tax Demand Jyothy Labs Limited announced that it received an Income-tax assessment order on March 30, 2026, under Section 143(3) of the Income-tax Act, 1961 for Assessment Year 2024-25, raising a tax demand of ₹110.64 Crore, including interest of ₹21.84 Crores.Subsequently, on the same date, the company received a rectification order under Section 154 of the Act. Based on a suo-motu rectification by the Income-tax Department, the entire tax demand, including applicable interest, has been nullified.The initial demand stemmed from computational errors during the processing of the Return of Income and issues related to recurring matters. The company has previously received favorable orders from the...

Sangani Hospitals Limited Completes Acquisition of Sadbhavna Hospital Sangani Hospitals Limited announced the successful completion of its acquisition of a 55% stake in Sadbhavna Hospital and Medical Research Centre Private Limited on March 31, 2026. The acquisition, previously approved on March 28, 2025, involves a cash consideration of Rs. 18,81,00,000 (Rupees Eighteen Crores Eighty-One Lakhs only).As a result of the acquisition, Sadbhavna Hospital and Medical Research Centre Private Limited has become a subsidiary of Sangani Hospitals Limited.The acquisition was executed at a share price of Rs. 15,390 (Rupees Fifteen thousand three hundred and ninety Only) per share. Sangani Hospitals Limited acquired 12,223 (Twelve Thousand Two...

Diligent Media Corporation Receives GST Demand Order Diligent Media Corporation Ltd. announced it has received a Goods and Services Tax (GST) Demand Order from the Office of the Assistant Commissioner of State Tax in Mumbai. The order pertains to the tax period of fiscal year 2019-20.According to the order, the company is directed to remit approximately Rs. 3.99 crores, encompassing Rs. 1.26 crores in interest and Rs. 1.47 crores in penalty. The demand arises from the purported non-levy of GST on the transfer and assignment of leasehold rights of an industrial plot in Mumbai, which was sold to M/s CTRL S (India) Pvt. Ltd. The tax authority considers this transfer a taxable supply of services under the Central Goods and Services Tax...

Oval Projects Engineering Ltd. Disagrees with Recent CRISIL Rating Rationale Oval Projects Engineering Limited (OPEPL) has stated that a recent rating rationale issued by CRISIL Ratings Limited on March 30, 2026, does not accurately reflect the company’s position. The rationale, which revised ratings on OPEPL's bank facilities, indicates an "Issuer not cooperating" status.According to a statement released by OPEPL, the company formally disputed the basis of the rating as early as November 2023, citing concerns that it did not account for updated information previously submitted. OPEPL subsequently requested the withdrawal of the rating mandate and sought clarification on the process, submitting banker No Objection Certificates (NOCs)...

Lloyds Engineering Works Limited Grants Employee Stock Options Lloyds Engineering Works Limited announced that its Nomination and Remuneration Committee (NRC) approved the granting of Employee Stock Options (ESOPs) under the Lloyds Steels Industries Limited Employee Stock Option Plan -2021. The decision was made at a meeting held on Tuesday, March 31, 2026. Stock portfolio managementA total of 69,71,000 ESOPs were granted to eligible employees of Lloyds Engineering Works Limited, with an exercise price of ₹ 9.50 per option. Additionally, 12,29,000 ESOPs were granted to eligible employees of Techno Industries Works Limited, a subsidiary of the Company, also at an exercise price of ₹ 9.50 per option.The Lloyds Steels Industries...

RNIT AI Solutions Ltd. Completes ₹26.33 Crore Preferential Allotment Hyderabad, March 31, 2026 – RNIT AI Solutions Limited ('RNIT'), a provider of Artificial Intelligence (AI) and digital transformation solutions, has successfully completed a preferential allotment of equity shares aggregating to approximately ₹26.33 crore.The allotment follows a Resolution Plan approved by the Hon'ble National Company Law Tribunal (NCLT), Jaipur Bench, vide its order dated September 23, 2024. The Board of Directors approved the allotment of 52,66,537 equity shares of face value ₹10 each at a price of ₹50 per share, including a premium of ₹40 per share, to strategic investors under the Public (Non-Promoter) category.The issue garnered participation...

Maxgrow India Ltd. Schedules Board Meeting to Review Financial Results Maxgrow India Limited (formerly Frontline Business Solutions Limited) announced a correction to a previously issued notice regarding an upcoming board meeting. The meeting is scheduled for Friday, April 3, 2026.The board will convene to consider and approve the Unaudited Standalone & Consolidated Financial Results for the quarter and nine months ended December 31, 2025, as well as address other matters with the Chair’s permission. The company initially stated the results were for the quarter and year ended March 31, 2026, which was an error.Shivkumar Ramsagar Pasi, Managing Director, will preside over the meeting. The company’s stock symbol on the BSE Limited is...

Megamont Limited Announces Promoter Share Transfer Megamont Limited, formerly known as VR Woodart Ltd, announced a share purchase agreement involving its promoter entity, Faze Three Limited, and new promoters Mounica Maddukuri and Mrs. Minal Patil.According to the agreement, Faze Three Limited has committed to selling its entire shareholding in the company to Ms. Maddukuri and Mrs. Patil. The transaction details, including the number of shares involved and the sale price, were not disclosed.The change in ownership is reflected in the company's ISIN: INE317D01014 and Scrip Code: 523888, which are listed on the BSE Limited.Minal Patil, Whole-Time Director (DIN:10579156), confirmed the transaction.Source:

Mukka Proteins Limited Acquires Remaining Stake in Haris Marine Products, Creates Wholly Owned Subsidiary Mukka Proteins Limited announced the completion of an acquisition, resulting in Haris Marine Products Private Limited becoming a wholly owned subsidiary of the company, effective March 30, 2026. The acquisition involved purchasing 2,000 equity shares of Haris Marine Products Private Limited, with a face value of Rs. 100 each, for a total consideration of Rs. 19,64,000.Haris Marine Products Private Limited, established on October 30, 2019, is a manufacturer and exporter of fish meal and fish oil. According to the company, Haris Marine Products Private Limited's turnover for the fiscal year 2024-25 was nil, with a profit after tax...

Shantidoot Infra Services Ltd. Board Approves Capital Increase and Rights Issue Shantidoot Infra Services Ltd. announced on March 31, 2026, that its Board of Directors approved a significant increase to the company’s authorized share capital and a proposed rights issue to raise funds.The authorized share capital will increase from ₹3,00,00,000 divided into 30,00,000 equity shares of ₹10 each to ₹13,00,00,000 divided into 1,30,00,000 equity shares of ₹10 each. This increase is subject to approval from the company's shareholders.The Board also approved a rights issue to raise up to ₹12,00,00,000 through the issuance of equity shares with a face value of ₹10 each. The terms and conditions of the rights issue, including the record date...

Viviana Power Tech Limited Receives New Turnkey Contract Worth Rs. 50.61 Crore Viviana Power Tech Limited announced it has been awarded a new turnkey contract from Paschim Gujarat Vij Company Limited (PGVCL), an existing client. The contract is valued at Rs. 50,60,87,055.00 (Rupees Fifty Crore Sixty Lakhs Eighty-Seven Thousand Fifty-Five Only), inclusive of taxes.The scope of work involves the supply and installation of 11 kV AL-59 ACS Medium Voltage Covered Conductor (MVCC) along with accessories and reinforced bar lattice poles. These will be deployed across coastal feeders in the Bhuj, Bhavnagar, and Jamnagar Circles of PGVCL, contributing to the Cyclone Resilient Network under the Viksit Gujarat Scheme.The project is expected to...

Elecon Engineering Company Limited Pays Penalty to Obtain Release Order Elecon Engineering Company Limited announced that it has paid a penalty of ₹ 11,98,800 to the Dy. Commissioner of State Tax, Enforcement, Div-8, Surat, to obtain a release order related to a dispute concerning a transport vehicle detained due to a name mismatch in a consignment.The incident occurred on March 30, 2026. Elecon Engineering Company Limited anticipates filing an appeal for a refund against the order before the appropriate authority and does not foresee a material impact on its financial or operational activities. The company received formal notice from the authority on March 31, 2026.Details of the Action: The following table summarizes the details...

IB Infotech Enterprises Ltd. to Sub-divide Shares IB Infotech Enterprises Limited announced that its Board of Directors approved a proposal for the sub-division of shares at a meeting held on March 31, 2026. The meeting commenced at 3:00 p.m. and concluded at 4:30 p.m.The company plans to sub-divide 1 (one) equity share with a face value of Rs. 10/- each into 10 (ten) equity shares with a face value of Re. 1/- each. This move aims to improve liquidity, make the shares more affordable for small investors, and broaden the investor base. The sub-division is subject to shareholder approval through Postal Ballot.The Board also approved altering Clause V of the Memorandum of Association to reflect the change in share capital resulting...

Desco Infratech Ltd. Responds to Trading Volume Inquiries Desco Infratech Ltd. addressed inquiries regarding a recent increase in trading volume for its security, according to a communication released March 31, 2026. The company responded to a communication from the BSE Limited dated March 30, 2026, referencing Reference No.: L/SURV/ONL/PV/APJ/2025-2026 /3470.Desco Infratech Ltd. affirmed adherence to the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The company stated it has consistently informed stock exchanges of events and information as mandated by Regulation 30 of the SEBI LODR Regulations.The company reported that, to the best of its knowledge, there is no...

NTPC Green Energy Reports Commercial Operation of Additional Capacity NTPC Green Energy Limited, a subsidiary of NTPC Limited, announced the commencement of commercial operations for additional renewable energy capacity on April 2, 2026.According to a filing, the fourth part capacity of 37.5 MW Solar from a 150 MW Solar Project in Gujarat, operated by Ayana Renewable Power Four Private Limited, a step down subsidiary of the joint venture ONGC NTPC Green Private Limited, began commercial operations.Additionally, the seventh part capacity of 13.2 MW Wind from a 100 MW Hybrid Project in Gujarat, also operated by Ayana Renewable Power Four Private Limited, a step down subsidiary of the joint venture ONGC NTPC Green Private Limited...

SML Mahindra Limited Schedules Board Meeting to Review FY2025-26 Financial Results SML Mahindra Limited, a manufacturer of trucks and buses, announced that a meeting of its Board of Directors is scheduled for April 20, 2026. The primary agenda for the meeting includes reviewing and approving the Audited Financial Results for the fourth quarter and the full financial year ending March 31, 2026 (FY 2025-26). The board will also consider and potentially recommend a dividend on equity shares for the year.In accordance with the company's insider trading policy, the trading window for designated persons, including their immediate relatives, will be closed from April 1, 2026, to April 23, 2026, inclusive. This restriction prohibits trading...

Vedanta Limited Appoints New Director, Extends Timeline for Scheme of Arrangement Vedanta Limited announced several key changes following a board meeting held on March 31, 2026. Mr. Dindayal Jalan will cease to hold his position as a Non-Executive Independent Director with effect from March 31, 2026, and the company expressed appreciation for his contributions.To fill the vacancy, Vedanta Limited appointed Mr. S.V. Murali Dhar Rao as an Additional Director, designated as a Non-Executive Independent Director, for a term of one year, effective April 1, 2026, pending shareholder approval. Mr. Rao brings over 3 decades of experience in the securities market, including a long tenure at the Securities & Exchange Board of India (SEBI), where...

Krishana Phoschem Limited Commences Commercial Production of DAP/NPK Fertilizer Krishana Phoschem Limited announced the commencement of commercial production at its Diammonium Phosphate & Nitrogen and phosphorus (DAP/NPK Complex) fertilizer plant located in Meghnagar, Madhya Pradesh, effective March 31, 2026.The expansion increases the company’s installed production capacity of DAP/NPK to 4,95,000 Metric Tonnes Per Annum.Source:

Refex Renewables Completes Acquisition of 91.43% Stake in Spectrum Renewable Energy Refex Renewables & Infrastructure Ltd., a kelex group company, announced the completion of the acquisition of a 91.43% stake in Spectrum Renewable Energy Private Limited (SREPL) during fiscal year 2026. The acquisition was carried out by Refex Sustainability Solutions Limited (RSSL), a wholly-owned subsidiary of Refex Renewables.The acquisition occurred in stages, with RSSL acquiring 26.07% on August 5, 2025, an additional 45.98% on August 8, 2025, and a final 19.38% stake on March 30, 2026. The transaction, effective from February 11, 2025, follows a Share Purchase Agreement initially announced on January 28, 2025. RSSL intends to acquire the...