Markets

CL Educate Limited Receives Income Tax Order CL Educate Limited announced it received an order dated March 30, 2026, from the Office of the Deputy Commissioner of Income Tax, Circle-75(1), Delhi, pertaining to Financial Year 2019-20 (Assessment Year 2020-21). The order, issued under Section 201(1)/201(1A) of the Income Tax Act, 1961, raises a total demand of Rs. 4,85,32,252.The demand comprises Rs. 2,63,11,418 under Section 201(1) and Rs. 2,22,20,834 as interest under Section 201(1A). The order alleges defaults in the deduction and deposit of TDS related to provisions for expenses, salary payments, and instances of incorrect TDS deductions.The company intends to appeal the order before the appropriate appellate authority and does...

Adani Power, Hyundai Motor Among Eight Stocks to Join F&O Segment from April 1 Eight stocks, including Adani Power and Hyundai Motor India, will enter the futures & options (F&O) segment from Wednesday, with the National Stock Exchange (NSE) announcing position limits. The move is anticipated to improve liquidity and trading volumes. Stocks Entering the F&O Segment The National Stock Exchange (NSE) announced earlier this month that Adani Power, Cochin Shipyard, Hyundai Motor India, Force Motors, Godfrey Phillips India, Motilal Oswal Financial Services, Nippon Life India Asset Management, and Vishal Mega Mart will be introduced to the derivatives segment. Recent Stock Performance Here's a summary of how these stocks have performed in the...

Advait Energy Transitions Ltd. Receives Order Worth ₹44.48 Crore Advait Energy Transitions Ltd. announced it received an order from Paschim Gujarat Vij Company Ltd. (PGVCL) on March 30, 2026. The order is for the supply, installation, testing, and commissioning of 11 KV Medium Voltage Covered Conductor (MVCC) with its accessories in Amreli District (Amreli Circle) under the Revamped Reforms-Based and Results-Linked, Distribution Sector Scheme (Package-10).The contract, awarded by a domestic entity, involves work under the RDSS scheme and is to be executed within 9 months. The total value of the order is ₹44,48,34,929.48 (Forty-Four Crore, Forty-Eight Lakh, Thirty-Four Thousand, Nine Hundred Twenty-Nine and Forty-Eight paise)...

Arvind Fashions Limited Receives Demand for Input Tax Credit Arvind Fashions Limited announced that it received a demand for input tax credit (ITC) amounting to Rs. 5,40,75,947 from the I.R.S Joint Commissioner of Central Tax, Bengaluru North Commissionerate, Bengaluru. The demand, received on March 30, 2026, relates to assessment years 2019-2020 and 2020-2021.The demand includes Rs. 5,40,75,947 in IGST and concerns ITC availed in contravention of Section 16(2) of the CGST Act 2017, along with interest as per Section 50(3) of the CGST Act 2017. A penalty of Rs. 5,40,75,947 has also been imposed.According to the company, the demand is not expected to have a financial or operational impact, as Arvind Fashions Limited intends to...

Sensex Delivers Zero Returns in Two Years, Hits Two-Year Low The Sensex has erased two years of optimism, slipping from the 100,000 hype to a two-year low and delivering zero returns. Weak earnings, heavy FII outflows, global tensions, and delayed Fed cuts dragged markets through FY26, leaving investors with caution as FY27 shapes up as a year of selective opportunities. Market Performance in FY26 India's equity markets have delivered little to cheer investors over the past two years, with the benchmark Sensex now hovering near a two-year low and returns effectively flat over this period. The weakness has been particularly visible in FY26, when both headline indices closed the year in negative territory amid a combination of global...

PDS Ltd. Announces Change in Subsidiary Status PDS Ltd. announced on March 31, 2026, that NexStyle Apparel Manufacturing Limited is no longer a wholly owned subsidiary of the company. This change took effect on March 31, 2026, and is a result of the allotment of Employee Stock Options. The announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Source:

Aditya Vision Limited Opens Five New Showrooms Aditya Vision Limited announced the opening of five new showrooms on March 31, 2026. The new additions expand the company’s retail presence in Uttar Pradesh.The showrooms are located in the following locations: Awas Vikash Colony, Unnao; Sulabpuram, Sikandra Bodla Road, Agra; Janakpuri, Ramghat Road, Aligarh; Civil Lines, Hardoi; and Civil Lines, MGRoad, Agra. These represent the 203rd through 207th showrooms for Aditya Vision Limited.The company’s contact information is +91-612-2520854, +91-612-2520674, headoffice@adityavision.in and www.adityavision.in. The registered office is located at Aditya House, R M-20, Road No. 26, S.K nagar, Patna, Bihar- 800 001, INDIA. Aditya Vision Limited...

Canara HSBC Life Insurance Receives GST Demand Order Canara HSBC Life Insurance Company Limited announced it received a demand order under Section 74 of the UPGST and CGST Act, 2017 from the Office of the Deputy Commissioner, Lucknow Sector-20, Lucknow (C), Lucknow II, Uttar Pradesh on March 30, 2026. The order pertains to the financial year 2019-20 and follows a Show Cause Notice dated April 25, 2025.The demand includes ₹ 1,50,82,434 in tax, ₹ 1,78,73,303 in interest, and ₹ 1,50,82,434 in penalty, totaling ₹ 4,80,38,171. The authority alleges non-compliance with sections 16 & 17 of the CGST Act, 2017, and excess Input Tax Credit (ITC) claimed in GST returns.According to the company’s assessment, the demand is not maintainable, and...

Tamilnad Mercantile Bank Limited Receives Monetary Demand from Income Tax Department Tamilnad Mercantile Bank Limited announced that the Assessment Unit, Income Tax Department, issued a Notice of Demand under Section 156 of the Income Tax Act, 1961, on March 30, 2026. The demand amounts to Rs. 5,36,62,680 (Rupees Five Crore Thirty-Six Lakh Sixty-Two Thousand Six Hundred Eighty Only).The order, dated March 30, 2026, under Section 143(3) read with Section 144B, disallowed an amount under Section 14A read with Rule 8D of the Income Tax Act, 1961, for Assessment Year 2024-25.According to the company, the Bank is in the process of filing an appeal, which is expected to be passed in favor of the Bank. The demand notice is not expected to...

Accel Ltd. to Incorporate Wholly-Owned Subsidiary for Technology Park Development Accel Ltd. announced on March 31, 2026, the approval to incorporate a wholly-owned subsidiary, INFINIUUM TECHPARKS PRIVATE LIMITED, engaged in the development of technology parks, cyber parks, and real estate activities. The new company will be based in Chennai, Tamil Nadu, India.INFINIUUM TECHPARKS PRIVATE LIMITED will be involved in the development, acquisition, operation, leasing, and management of technology parks, IT/ITES campuses, data centers, co-working spaces, and real estate activities.The initial paid-up share capital will be subscribed for in cash at a cost of ₹10,00,000, representing 10,00,000 equity shares with a face value of ₹10 per...

Som Distilleries & Breweries Limited Sees Credit Rating Revision Som Distilleries & Breweries Limited announced a revision to its credit ratings by Infomerics Ratings on March 31, 2026. The company's long-term bank facilities rating has been adjusted to BBB+ from A, while the short-term rating now stands at A2, a decrease from the previous A2+.According to Infomerics Ratings, the rating revision is primarily attributed to the impact of a temporary suspension of the company’s manufacturing license by the Excise Department.The long-term bank facilities of Woodpecker Distilleries and Breweries Private Limited, a subsidiary of Som Distilleries & Breweries Limited, have also been revised to BBB+ from A by Infomerics Ratings. The...

NMDC Limited Appoints Anurag Kapil as Director (Finance) NMDC Limited announced the appointment of Anurag Kapil as Director (Finance) on March 31, 2026. The appointment follows an order from the Ministry of Steel, Government of India, dated March 18, 2026. Kapil’s term will be for five years, commencing March 31, 2026, or until further orders.Anurag Kapil is an officer of the Indian Railway Accounts Service (IRAS) with 26 years of experience in Indian Railways and public sector undertakings. He holds a Chemistry Honors degree from Hans Raj College, a Masters in Business Administration (Finance & Marketing) from the University of Delhi, and a Masters in Public Affairs from the University of Minnesota, USA.Previously, he served as...

NMDC Limited Extends Additional Charge for Director (Commercial) New Delhi – NMDC Limited announced that Vinay Kumar, currently Director (Technical), will continue to hold the additional charge of Director (Commercial) for another year. The extension, effective April 7, 2026, was communicated by the Ministry of Steel, Government of India, through order No. S-14013/2/2025BLA-Part(1) dated March 30, 2026. The arrangement will remain in place until a regular incumbent assumes the position or until further orders are issued, whichever occurs first. Pravin Shekhar, Company Secretary & Compliance Officer, made the announcement.Source:

The Magnum Ice Cream Company Completes Majority Acquisition of Kwality Wall's (India) Limited Amsterdam, 30 March 2026 – The Magnum Ice Cream Company (TMICC) announced the completion of its acquisition of 61.9% of the equity shares of Kwality Wall's (India) Limited (KWIL), as detailed in a Share Purchase Agreement with Unilever dated June 25, 2025.KWIL will continue to be listed on the Bombay Stock Exchange (BSE: 544622) and the National Stock Exchange (NSE: KWIL).Abhijit Bhacharya, CFO of The Magnum Ice Cream Company, stated that the transaction strengthens TMICC’s presence in the Indian ice cream market. The combination of TMICC’s global brand strength and innovation capabilities with KWIL’s local heritage, manufacturing...

Marathon Nextgen Realty Ltd. Receives NSE Observation Letter for Composite Scheme of Amalgamation and Arrangement Marathon Nextgen Realty Limited (MNRL) announced it has received an observation letter with “no adverse observations” from the National Stock Exchange of India Limited (NSE) regarding the Composite Scheme of Amalgamation and Arrangement. The letter was received on March 30, 2026.The scheme involves Matrix Water Management Private Limited, Sanvo Resorts Private Limited, Marathon Realty Private Limited, Matrix Enclaves Projects Developments Private Limited, Matrix Land Hub Private Limited, Marathon Nextgen Realty Limited, and Marathon Energy Private Limited.MNRL previously received an observation letter with “no adverse...

Meghmani Organics Ltd. to Convene Board Meeting for Amalgamation Scheme Review Meghmani Organics Ltd. announced that a board meeting is scheduled for Saturday, April 4, 2026, to consider and review a Scheme of Amalgamation. The meeting will be held at the company's registered office, "Meghmani House", in Ahmedabad.The Board of Directors will focus on the review and approval of the proposed amalgamation scheme.Further details regarding the amalgamation scheme will be disclosed at a later date.Jayesh Patel, Company Secretary & Compliance Officer, ICSI Mem. No.: A14898, will oversee the proceedings.Source:

Texmaco Rail & Engineering Ltd. Board Approves Long-Term Incentive Plan Texmaco Rail & Engineering Limited, an Adventz Group company, announced the approval of a Long-Term Incentive Plan ('LTIP') by its Board of Directors on March 31, 2026. The plan authorizes the creation, offer, grant, and allotment of options exercisable into up to 24,00,000 Equity Shares, each with a face value of Rs. 1.The LTIP was recommended by the Nomination and Remuneration Committee ('NRC'). Shareholder approval and other regulatory approvals will be required before the plan becomes effective.According to details disclosed regarding the LTIP scheme, the exercise price per option will be Rs. 1. Vesting will occur three years from the date of grant, and...

Kaveri Seed Company Limited Wins Appeal Against Income Tax Demand Kaveri Seed Company Limited announced on March 31, 2026, that it has won an appeal against an Income Tax demand for the Assessment Year 2020-21. The decision, issued by the Office of the Commissioner of Income Tax (Appeals) - 11, Hyderabad, sets aside a previously raised demand.The Income Tax Authorities had initially assessed a demand of Rs. 73,25,39,490, primarily due to the disallowance of an exemption claimed on agricultural income. The Appellate Authority has now allowed the company’s claim, classifying the income as agricultural income and consequently eliminating the demand.This development follows a prior disclosure made by Kaveri Seed Company Limited on...

Quest Flow Controls Limited Divests Subsidiary, Sharpens Strategic Focus Goa, March 31, 2026 – Quest Flow Controls Limited (BSE: 543982), a manufacturer of valves and flow control solutions, has approved the divestiture of its entire stake in H2O Dynamics India Limited, a subsidiary of the Company. The stake was divested to Stellarin Research and Development Private Limited for a consideration of ₹ 7,35,00,000, with the transaction expected to be completed within two months.H2O Dynamics India Limited reported net revenues of ₹ 811.31 Lakhs and carried a net worth of ₹134.96 Lakhs in FY 2024-25.The divestiture represents a strategic move to refocus the Company's portfolio on its core strength in valves and valve control systems...

Adani Energy Solutions Acquires 100% of South Kalamb Power Transmission Limited Adani Energy Solutions Ltd. announced on March 30, 2026, that it executed a Share Purchase Agreement (SPA) with PFC Consulting Limited (PFCCL) to acquire 100% of the equity shares of South Kalamb Power Transmission Limited ('SKPTL'). The agreement was finalized at approximately 3:00 p.m. IST.SKPTL, incorporated in India on September 30, 2025, operates within the Electric Utilities sector as a transmission service provider. The acquisition is intended to bolster Adani Energy Solutions' strategy for enhancing shareholder value through both organic and inorganic growth opportunities. SKPTL strengthens South Kalamb’s evacuation capability by upgrading the...