Markets

PB Fintech Limited Invests in Genesis Group Limited, Utilizing IPO Proceeds PB Fintech Limited announced that its wholly-owned subsidiary, Icall Support Services Private Limited, has invested AED 1,20,06,140 (approximately ₹313.84 million) in the shares of Genesis Group Limited. This investment, made on March 31, 2026, fully utilizes ₹309.21 million of IPO proceeds previously approved by shareholders for expansion outside of India.Genesis Group Limited is the holding company of Policybazaar Middle East Insurance Brokers LLC, an insurance broker in Dubai, UAE. The transaction is classified as a related-party transaction and was completed on an arm’s length basis.According to a report by M/s BMSA & Associated Chartered Accountant, New...

Shri Hare-Krishna Sponge Iron Limited Postpones Commercial Production of Captive Power Plant Shri Hare-Krishna Sponge Iron Limited announced a revision in the timeline for the commencement of commercial production for its captive power plant project. The postponement is attributed to challenges in procuring Liquefied Petroleum Gas (LPG) due to the ongoing war situation, compounded by disruptions in transportation and logistics impacting the timely receipt of necessary components.These factors have delayed testing, commissioning, and trial run operations for the power plant. Commercial production is now anticipated to begin by April 2026, contingent upon the successful completion of trial runs and stabilization of the facility.The...

Craftsman Automation Limited Receives Tax Order from CGST Faridabad Craftsman Automation Limited announced that the Office of the Deputy Commissioner (DC), Division-West, CGST Faridabad, issued an order on March 30, 2026, under Section 74 of the Central Goods and Services Tax Act, 2017, for the Financial Year 2019-20.The order pertains to a tax demand of Rs. 11,07,211, along with applicable interest and a penalty equivalent to the tax amount, related to purported inadmissible Input Tax Credit (ITC). Additionally, a demand of Rs. 40,74,968 is outstanding for interest associated with alleged wrongful availment and utilization of ITC.The company is currently evaluating the implications of the order and plans to pursue legal action...

Dynamic Cables Limited Receives Favorable Income Tax Appeal Order Dynamic Cables Limited announced on March 30, 2026, that it received a favorable order from the Commissioner of Income-tax (Appeals) regarding appeals filed against assessment orders passed under Section 147 of the Income-tax Act, 1961 for Assessment Years 2017-18 and 2019-20.The company had previously received assessment orders from the Office of the Assistant Commissioner of Income Tax. The appeals concerned tax demands of Rs. 3,25,87,400 and Rs. 1,63,92,916, stemming from disallowance of certain expenses and additions to income.The order allows the company’s appeal and deletes the disallowance of expenses and additions to income. The company does not anticipate any...

Mukand Ltd. Completes Slump Sale of Industrial Machinery Business Mukand Ltd. announced the completion of a slump sale of a portion of its Industrial Machinery Business to Mukand Heavy Engineering Limited (MHEL), a wholly-owned subsidiary, as of March 31, 2026. The transferred business includes designing, manufacturing, erecting, and commissioning EOT Cranes, other materials handling equipment, and process plant equipment.The transaction, initially announced on May 16, 2025, and October 18, 2025, involved a purchase consideration of Rs 45.78 Crs. This was discharged through the allotment of 26,347 fully paid-up equity shares by MHEL. Financial Details of the TransactionDetailAmount (Rs Crs)Purchase Consideration45.78Shares...

Kamdhenu Ventures Approves Investment in Subsidiary Kamdhenu Colour and Coatings Limited Kamdhenu Ventures Limited announced on Tuesday, March 31, 2026, that its Board of Directors approved an investment of up to Rs. 21,00,00,000 into its wholly-owned subsidiary, Kamdhenu Colour and Coatings Limited (KCCL).The investment will be made through a right issue, preferential issue, or other fundraising methods by KCCL, in one or more tranches, within a period of one year. An Investment Committee has been formed to oversee the investment process.Kamdhenu Ventures Limited, listed on the National Stock Exchange (NSE Symbol: KAMOPAINTS) and BSE (Scrip Code: 543747), operates from its registered office in Gurugram, Haryana. Further details...

Oricon Enterprises Ltd. Sells Stake in Tecnocap Oriental Private Limited Oricon Enterprises Ltd. announced March 31, 2026, that it signed a Share Purchase Agreement to sell a 25% stake in Tecnocap Oriental Private Limited to TGP TECNOCAP GROUP PARTECIPAZIONI S.R.L. The transaction involves 246,833 equity shares.The consideration for the sale is Rs. 5,50,00,000. TGP TECNOCAP GROUP PARTECIPAZIONI S.R.L. is a company incorporated under the laws of Italy, with its registered office in Cava de' Tirreni.During the financial year ending March 31, 2025, Tecnocap Oriental Private Limited contributed a share of profit of Rs. 74.75 lakhs to Oricon Enterprises Ltd.The Share Purchase Agreement was signed on March 31, 2026. The expected date of...

Muthoot Finance Faces ₹977.81 Crore Tax Demand Muthoot Finance Limited announced that the Office of the Assistant Commissioner of Income Tax, Central Circle 1, Kochi, issued an order on March 30, 2026, imposing a tax demand of ₹977,81,10,347.The company stated that it believes the basis for the additional tax demand is not tenable and plans to file an appeal. Muthoot Finance affirmed that the order will not materially impact its financial, operational, or other activities.The tax demand stemmed from disallowances related to ESOP discounts, non-deduction of TDS on foreign payments, and disallowance of expenses for bad debts write-off. Additionally, the assessing officer assessed the income at a rate of 34.944% instead of 25.168%...

Lakshmi Finance & Industrial Corporation Limited Announces CFO Resignation Lakshmi Finance & Industrial Corporation Limited announced the resignation of its Chief Financial Officer (CFO), U. Vijay Kumar, effective March 30, 2026. Kumar’s departure is attributed to his superannuation.According to a company statement, Kumar confirmed that his resignation was solely due to retirement and that there were no other material reasons for his departure.The company provided the following details regarding the change in leadership:Reason for changeDate of appointment / cessationBrief ProfileResignation of U. Vijay Kumar as CFOMarch 30, 2026Not ApplicableHarish Chandra Prasad Kanuri, Managing Director, provided the information.Source:

Windsor Machines Ltd. Commences Manufacturing at New Rajkot Facility Windsor Machines Ltd. has begun manufacturing operations at its new, state-of-the-art integrated manufacturing facility located in Chibhda, Rajkot, Gujarat. The commencement date for production at the new facility was March 31, 2026.The company previously operated its manufacturing facility at Industrial Plot No. 5403, 5404 and 5405, Phase IV, GIDC, Vatva, Ahmedabad. The shift to the new location, situated at Survey No. 1147, 1148, 1149 and 1177, Village: Chibhda, Sub-District: Lodhika, District: Rajkot, Gujarat, is substantially complete.While a few residual operations remain at the Vatva facility, the company anticipates a full transition to the Rajkot facility...

Sai Silks (Kalamandir) Limited Receives Favorable Outcome in Promoter’s Income Tax Appeal Sai Silks (Kalamandir) Limited announced that appeals filed by Mr. Nagakanaka Durga Prasad Chalavadi, a Promoter of the company, against an income tax demand have been largely resolved. The appeals were related to proceedings initiated on May 2, 2023, by the Office of the Deputy Commissioner of Income Tax.Commissioner of Income Tax appellate orders, dated March 30, 2026, substantially favored the Promoter, overturning the original demand of 58.33 Crore. A minor portion, amounting to 85.79 lakhs, was disallowed due to documentation-related issues, resulting in an estimated tax liability of approximately 50 lakhs, to be discharged by the Promoter...

Mayasheel Ventures Limited Receives Letter of Acceptance for ₹306.53 Crore Infrastructure Project Mayasheel Ventures Limited (MVL), in a joint venture with M/s JSP Projects Pvt. Ltd., has received a Letter of Acceptance (LOA) for a significant infrastructure project in Arunachal Pradesh. The project, awarded by the Ministry of Road Transport & Highways (MoRTH), involves the construction of a 27.43-kilometer stretch of road (Package 1) on NH-913 (Frontier Highway) to Intermediate Lane on an Engineering, Procurement, and Construction (EPC) mode.The order value for the project is ₹3,06,53,00,000, excluding Goods and Services Tax (GST). The project is expected to be completed within 36 months.MVL will primarily execute the project in...

Bharat Heavy Electricals Receives Relaxation on Land Border Procurement Norms Bharat Heavy Electricals Limited (BHEL) confirmed it has received a relaxation from the Department of Expenditure (DoE) regarding procurement norms for specific items. The clarification follows a news item published on the Economic Times website on March 27, 2026, concerning changes to Land Border norms for BHEL tenders.BHEL received Office Memorandum No. F.7/10/2021-PPD(II) dated March 27, 2026, from the DoE, Ministry of Finance. This allows BHEL a five-year relaxation under Rule 144(xi) of the General Financial Rules (GFR) for procuring 21 items from entities in countries sharing land borders with India.According to BHEL, there were no formal...

Ceinsys Tech Limited Receives Acceptance Letter from MHADA for Project Management System Ceinsys Tech Limited announced it has received an acceptance letter from the Maharashtra Housing and Area Development Authority (MHADA) for a project involving the design, development, and maintenance of an integrated project management system and 3D urban spatial digital model. The project also includes a web-based GIS platform for MHADA.The contract, awarded through E-tender ID: 2026_MHADA_1270506_1, is valued at Rs. 41,25,83,930 (Rupees Forty-One Crores Twenty-Five Lakhs Eighty-Three Thousand Nine Hundred Thirty Only), excluding taxes. The implementation phase of the project is slated for 12 months, followed by a 36-month operations and...

Sterling and Wilson Renewable Energy Receives Order Regarding Input Tax Credit Sterling and Wilson Renewable Energy Limited announced today that it received orders from the Assistant Commissioner of Div- I CGST & C. Ex, Navi Mumbai, Maharashtra, disallowing input tax credit on vendor transactions. The orders pertain to the period of April 2019 to March 2020 and April 2020 to March 2021.The total tax and penalty demanded aggregate to approximately INR 53.40 Lakhs. This includes INR 20.33 Lakhs for the period April 2019 to March 2020, and INR 6.37 Lakhs for the period April 2020 to March 2021.According to the company, there is no material impact on the operations of Sterling and Wilson Renewable Energy Limited. The company is...

GlaxoSmithKline Pharmaceuticals Receives TDS Demand Order GlaxoSmithKline Pharmaceuticals Limited has received a Final Order from the TDS Authority, INT Tax Circle 2(3)(2), imposing a TDS Demand Liability of Rs 2.01 Crores. The order, dated March 31, 2026, relates to a default under Section 201 for the assessment year 2020-2021.The TDS demand includes Rs 1.11 Crores in TDS and Rs 0.90 Crores in interest.According to a filing, the company is contesting the assessment order and intends to file an appeal before the appellate authority. Management stated that the order is not expected to have an impact on the company’s financial statements.ParticularsDetailsAuthorityTDS Authority - INT Tax Circle 2(3)(2)Nature of ActionDemand...

Asahi Industries Ltd. Transitions Management to Safex Realtor Private Limited Following Resolution Plan Approval Mumbai – March 25, 2026 – Asahi Industries Ltd. announced the completion of a key step in its Corporate Insolvency Resolution Process (CIRP) with the handover of management and control to Safex Realtor Private Limited, effective March 24, 2026. This follows an order dated November 13, 2020, from the National Company Law Tribunal (NCLT) Mumbai Bench, which approved a resolution plan submitted by Safex Realtor Private Limited.The transfer of management concludes the role of the Resolution Professional (RP)/Chairman of the Monitoring Committee.As part of the resolution plan, the company’s shareholding structure has been...

PhysicsWallah's Vishwas Diwas Concludes with 36% YoY Growth; Brings in over ₹200 Crores in Collections New Delhi, March 29, 2026 – Education company PhysicsWallah concluded its flagship event Vishwas Diwas (VD), announcing record collections of ₹205 crore from its online categories during the 20-day period ending March 20, 2026. The fifth edition of the academic celebration saw over 3.4 million students tuning in across social media platforms, leading to enrollments from 1500+ new pin codes and a 90% increase in the average daily installs of the PW app.The company saw 439,000 enrollments during the VD period, a 21% growth compared to last year. Most categories experienced growth of over 30% compared to last year's collections...

Camlin Fine Sciences Receives Order Regarding Tax Demand Camlin Fine Sciences Limited announced receipt of an order from the Office of the Assistant/Deputy Commissioner of (CGST & C.Ex.), Division-IV, Palghar Commissionerate, as of March 30, 2026.The order pertains to a demand for 96,65,820 Indian Rupees, comprised of Integrated Goods and Services Tax (IGST). This demand is related to unpaid taxes under Section 74(9) of the CGST Act, 2017, alongside corresponding MGST and IGST Acts. Additionally, applicable interest and a penalty of 96,65,820 Indian Rupees are being levied.The order stems from a tax liability arising from expenses incurred in foreign currency and reimbursed to foreign subsidiaries, where Reverse Charge Mechanism...

Transindia Real Estate Limited Confirms Interest Payment on Debentures Transindia Real Estate Limited announced the completion of an interest payment on its outstanding debentures on March 31, 2026. The payment fulfills obligations outlined in Regulation 57(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Details of the interest payment are summarized below:ParticularsDetailsISININE953L08329SeriesSeries 023Script Code953148Issue Size330 CroresInterest Amount to be paid on due dateRs.4,79,24,406.50FrequencySemi-AnnuallyInterest payment record date16/03/2026Due date for interest payment31/03/2026Actual date for interest payment31/03/2026Amount of interest...