Markets

Igarashi Motors India Ltd. Receives Credit Rating Reaffirmation from CARE Ratings Igarashi Motors India Ltd. announced on March 30, 2026, that it has received a reaffirmed credit rating from CARE Ratings for its bank facilities. The ratings reflect the company’s financial stability and performance.CARE Ratings has reaffirmed the ratings as follows:FacilitiesAmount (Rs. Crore)RatingsRating ActionLong Term Bank Facilities41.65CARE A+ ; Stable (Single A Plus; Outlook: Stable)ReaffirmedLong Term/ Short Term Bank Facilities68.00CARE A+ ; Stable/ CARE A1+ (Single A Plus; Outlook :Stable/ A One Plus)ReaffirmedLong-term / Short- term bank facilities60.00CARE A+ ; Stable/ CARE A1+ (Single A Plus; Outlook :Stable/ A One...

Thermax Ltd. Receives Assessment Order from CGST, Pune Thermax Limited announced it received an assessment order from the Joint Commissioner, CGST, Pune, Maharashtra, on March 30, 2026. The order levies a penalty of 314 million rupees.The assessment relates to the disallowance of a lower Goods and Services Tax (GST) rate due to the incorrect classification of goods under the Harmonized System of Nomenclature (HSN) for the period 2019-20 to 2022-23.According to a filing, Thermax intends to file an appeal challenging the demand. The company anticipates the action will not have a significant impact on its operations.Details of the Assessment OrderSr.Disclosure RequirementsBrief Particulars1Name of the AuthorityJoint...

RMC Switchgears Ltd. Secures Listing and Trading Approval on Mainboards of BSE and NSE RMC Switchgears Ltd. has received final approval for the migration of its equity shares from the BSE SME Platform to the Mainboard of both the BSE Limited and the National Stock Exchange of India Limited (NSE). The approval, effective April 1, 2026, involves 1,05,76,850 equity shares with a face value of Re. 10 each.According to BSE letter reference no. 20260330-19 and NSE letter reference no. NSE/LIST/66, the shares will be listed and admitted to dealings on the Main Board of both exchanges starting Wednesday, April 1, 2026.The company highlighted that this dual listing signifies a significant milestone, demonstrating sustained growth and a...

Bharat Heavy Electricals Receives Credit Rating Outlook Revision from India Ratings Bharat Heavy Electricals Limited (BHEL) announced on March 31, 2026, that India Ratings & Research has revised the company's credit outlook from “Stable” to “Positive.” The revision accompanies the reaffirmation of long-term and short-term credit ratings.According to India Ratings & Research, the ratings are based on BHEL’s operational and financial performance through the third quarter of fiscal year 2025-26.The details of the reaffirmed ratings are as follows:Facilities/InstrumentsRatingTotal Bank Loan Facilities rated (Rs 80000 Crores)Long Term Rating/Outlook: IND AA-/ Positive Short Term Rating: IND Al+ (Outlook revised to "Positive" from...

ACS Technologies Limited Enters Exclusive Partnership with UAE’s Tahaluf Al Emarat for AI/IoT Solutions Hyderabad, March 30, 2026 – ACS Technologies Limited (BSE: 530745), a technology solutions provider, announced a strategic partnership with Tahaluf Al Emarat Technical Solutions L.L.C S.P.C ('Tahaluf'), a UAE-based company specializing in Artificial Intelligence (AI), Internet of Things (IoT), and smart city solutions.Under the agreement, ACS Technologies becomes Tahaluf's Exclusive PAN India Reseller, authorized to distribute and implement Tahaluf’s AI and IoT solutions across government, defence, enterprise, and commercial segments.ACS Technologies will introduce internationally recognized AI innovation to India, leveraging...

Tata Chemicals Simplifies UK Holding Structure Tata Chemicals Ltd. announced a restructuring of its UK operations on March 30, 2026, aimed at simplifying the group’s holding structure. The move involves the transfer of all assets and investments from Gusiute Holdings (UK) Limited (GHUL) to Homefield Pvt. UK Limited (HFUK).As a result of this transfer, GHUL no longer serves as a material subsidiary of Tata Chemicals, while HFUK is now considered a material subsidiary. The changes do not affect the ultimate ownership of the company’s UK subsidiaries.According to the company, the restructuring provides a quantitative and qualitative effect through the rationalization and simplification of the group structure. There are no anticipated...

Central Bank of India Receives Demand Notice for Rs. 296.08 Crores from Income Tax Department Central Bank of India announced that it received a demand notice from the Income Tax Department on March 30, 2026. The notice, dated March 28, 2026, advises the bank to pay Rs. 296.08 Crores related to tax liability for the Assessment Year 2024-25.The bank is challenging the order in the appropriate forum and expects relief. It anticipates that the demand will subside. The bank does not expect any financial or operational impact as a result of this matter.According to a filing, the assessment order was issued under Section 143(3) read with Section 144B of the Income Tax Act, 1961. The assessment pertains to a re-computation of income and...

NMDC Steel Extends Additional Charge for Director (Commercial) NMDC Steel Ltd. announced an extension of the additional charge for the Director (Commercial) position to Vinay Kumar, who currently serves as Director (Technical). The extension, effective April 7, 2026, will continue for one year or until a permanent Director (Commercial) is appointed, whichever occurs first.The decision follows an order from the Ministry of Steel, Government of India, reference S-14013/2/2025-BLA-Part(1) dated March 30, 2026, and Order No. 4(3)/2022-NMDC dated March 20, 2023.NMDC Steel Limited is a Government of India Enterprise.Source:

Crude Oil Prices Decline After Recent Rally Oil prices edged lower on Tuesday, March 31, snapping a recent gaining streak after reports indicated that US President Donald Trump may be open to ending the ongoing conflict with Iran.Brent crude futures for May declined by $1.22, or 1.08%, to $111.56 per barrel, after rising nearly 2% earlier in the session. The more actively traded June contract was quoted at $105.76.US West Texas Intermediate (WTI) crude futures for May fell 98 cents, or 0.95%, to $101.90 per barrel, after touching their highest level since March 9 during early trading.Trump Signals Possible De-escalation Market sentiment shifted after reports suggested that Donald Trump had told aides he may consider halting...

Rossell Techsys Focuses on India's Defence Sector, Plans for Rapid Expansion Rossell Techsys Limited is strategically positioning itself to capitalize on the growth within India’s defence sector, according to a report released by The Week. The company is targeting rapid scale-up to meet anticipated demand.The announcement was made on March 31, 2026, and disseminated to the Bombay Stock Exchange (BSE Scrip Code: 544294) and the National Stock Exchange of India Limited (NSE Scrip Symbol: ROSSTECH).Source:

Grand Continent Hotels Limited Enters into Memorandum of Understanding for Hotel Operation Grand Continent Hotels Limited announced on March 30, 2026, that it entered into a Memorandum of Understanding (MOU) with M/s Idris Hotels and Resorts, a proprietorship firm owned by Ms. Kalima Banu, to facilitate a definitive lease and license/revenue-sharing agreement for hotel operations. The MOU is intended to enable the operation of a hotel by Grand Continent Hotels Limited.The MOU will remain in effect for 12 months, with the subsequent lease and license/revenue-sharing agreement anticipated to extend for nine years.Under the agreement, Grand Continent Hotels Limited will operate a hotel with 30 rooms at a property located in...

International Combustion India Appoints New Company Secretary International Combustion India Ltd. announced the resignation of Company Secretary, Mr. P. R. Sivasankar, effective March 31, 2026. Following a recommendation from its Nomination & Remuneration Committee, the Board of Directors approved the appointment of Mr. Kundan Jaiswal as the new Company Secretary, effective April 1, 2026. Mr. Jaiswal will also serve as the Compliance Officer for the company.Mr. Sivasankar’s resignation, citing personal reasons, will be presented to the Board meeting scheduled for February 6, 2026, and he will serve a three-month notice period.Mr. Kundan Jaiswal holds a B.Com (Hons.) degree and is an Associate Member of the Institute of Company...

City Union Bank Reaffirms Credit Rating with Positive Outlook City Union Bank Ltd. announced that CARE Ratings Limited has reaffirmed its issuer rating of CARE AA-; Positive. The rating action was reviewed by the Rating Committee of CARE Ratings Limited on March 30, 2026.The reaffirmed rating reflects the bank's financial strength and performance. The outlook has been revised from Stable to Positive, indicating a potential for rating upgrade in the future.CARE Ratings Credit Rating DetailsType of RatingRatingRating ActionIssuer RatingCARE AA-; PositiveReaffirmed; Outlook revised from StableThe bank is headquartered at 149, T.S.R. (Big) Street, Kumbakonam, Tamil Nadu.Source:

Blue Cloud Softech Solutions Ltd. Receives Purchase Orders from Hyderabad City Police Hyderabad, Telangana, March 31, 2026 – Blue Cloud Softech Solutions Limited (BCSSL) (BSE: 539607), a provider of AI-driven enterprise and digital infrastructure solutions, announced it has received two purchase orders from the Hyderabad City Police.The orders cover the supply, installation, and commissioning of AI-enabled high-performance rack servers and GPU-powered infrastructure, along with the deployment of 'Blura Saga,' an AI-powered social media monitoring and intelligence platform for the Social Media Unit.About Blura Saga Platform 'Blura Saga' is an AI-powered digital intelligence platform designed to monitor, analyze, and interpret social...

Lupin Receives Tentative FDA Approval for Sugammadex Injection Mumbai, India, Naples, FL, March 31, 2026 – Lupin Limited (BSE: 500257) (NSE: LUPIN) announced today it received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application for Sugammadex Injection, 200 mg/2 mL (100 mg/mL) and 500 mg/5 mL (100 mg/mL) Single-Dose Vial.The FDA’s tentative approval designates Lupin’s Sugammadex Injection as bioequivalent to Merck’s Bridion® Injection. This product is intended for the reversal of neuromuscular blockade induced by rocuronium bromide and vecuronium bromide in adult and pediatric patients aged 2 years and older undergoing surgery.Lupin Limited is a global...

Asian Markets Today: Kospi Slides 4%, Nikkei Drops 2.2% as US-Iran Conflict Escalates Asian markets witnessed broad-based declines on Tuesday, March 31, as rising crude oil prices and escalating tensions in the Middle East weighed heavily on investor sentiment.Asian Stock Market Performance South Korean equities led the losses, with the Kospi plunging more than 4%, while the small-cap Kosdaq index dropped over 3%. The South Korean won also weakened sharply, falling 0.63% to 1,526.9 against the US dollar, marking its lowest level since 2009.In Japan, the Nikkei 225 declined 2.2%, and the broader Topix index slipped 1.4%, reflecting cautious investor positioning amid global uncertainty.Australia’s S&P/ASX 200 edged lower by 0.56%...

NTPC Green Energy Subsidiary Signs Green Ammonia Purchase Agreement NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Green Energy Limited (NGEL), announced on March 31, 2026, that it has entered into a Green Ammonia Purchase Agreement (GAPA) with Solar Energy Corporation of India Limited (SECI). The agreement supports the SIGHT Scheme of the National Green Hydrogen Mission, Government of India.Under the terms of the agreement, NTPC Renewable Energy Limited will supply 70,000 MTPA of Green Ammonia to Krishna Phoschem Limited, located in Meghnagar, Madhya Pradesh. SECI will serve as the intermediary procurer in this transaction.This agreement represents a significant milestone for NGEL’s Green Hydrogen and Green...

Jost’s Engineering Company Limited Completes Sale of Joint Venture Stake Jost’s Engineering Company Limited has finalized the sale of its 50% equity investment in Suryavayu Renewable and Energy Solutions Private Limited (SRESPL) to Kay Cee Energy & Infra Limited. The transaction concluded on March 30, 2026, upon receipt of consideration of Rs. 1,03,100.This follows prior notification on March 24, 2026, regarding the initial approval for the divestment. As a result of the sale, SRESPL is no longer considered a joint venture of Jost’s Engineering Company Limited, effective March 30, 2026.Source:

Thrive Future Habitats Ltd. Completes Sale of Subsidiary Thrive Future Habitats Limited (formerly known as Ador Multiproducts Limited) announced the completion of the sale of its 58% shareholding in Aura Flow Private Limited (formerly Anatomicals Ador India Private Limited), a subsidiary of the company. The transaction follows earlier disclosures made on November 14, 2025.The company received consideration of INR 1,740 (Rupees One Thousand Seven Hundred Forty Only) for the sale. Ms. Mei Ling Foon Ming Lee acquired the 1,73,998 equity shares, representing 58% of Aura Flow Private Limited. As a result of the transaction, Aura Flow Private Limited is no longer a subsidiary of Thrive Future Habitats Limited.According to details...

National Highways Infra Trust Announces Appointed Date for Round 5 Roads National Highways Infra Trust (NHIT) has received confirmation of the appointed date for Round 5 Roads, also known as 'InvIT Bundle 5'. This announcement follows the signing of a Concession Agreement between the National Highways Authority of India (NHAI) and NHIT Western Projects Private Limited (NWPPL) on March 17, 2026, and the fulfillment of necessary condition precedents.The appointed date for the following Concession Agreements is April 1, 2026, at 00:00 hours (midnight March 31, 2026 / April 1, 2026):Amravati-Chikhali-Tarsod Gundugolanu-Chinna AvutapalliThis development marks a significant milestone for the trust and its investors. The declaration of...