Markets

Foreign Investors Pull Record $12 Billion From Indian Stocks in March Amid War Concerns Historic Outflows Signal Weakening Sentiment Toward Indian Equities Foreign investors are exiting Indian equities at an unprecedented pace in March, with net outflows nearing $12 billion, marking what is set to be the steepest monthly withdrawal on record.According to Bloomberg-compiled data, overseas investors have sold a net $11.7 billion worth of Indian shares through March 25. This has pushed total foreign outflows for 2026 beyond $13 billion, approaching levels seen during the previous year.The sharp pullback reflects a broader global shift away from riskier assets, intensified by rising geopolitical tensions and surging energy prices...

Jonjua Overseas Limited Files Copyright Application with US Copyright Office Mohali, March 30, 2026 – Jonjua Overseas Limited announced it has applied for copyright registration with the U.S. Copyright Office for its work, "Business Plan Jonjua Air (Africa)." The application, dated March 28, 2026, carries Case Number 115130038421.The work, which previously received copyright registration in India (Registration Number L-125817/2023 dated June 14, 2023), was first published in India in 2021 and outlines the creation of an airline in Africa. Jonjua Overseas Limited owns the copyright for the work.According to the company, the U.S. copyright registration is expected to strengthen its legal standing in the North American market and...

Palash Securities Limited Announces Departure of Managing Director Palash Securities Limited announced that Chand Bihari Patodia has stepped down from his role as Managing Director and Key Managerial Personnel, effective March 29, 2026. Patodia’s tenure, which began on March 30, 2023, lasted for three years.The company confirmed the change, noting the completion of Patodia’s term.ParticularsDetailsReason for ChangeCompletion of three-year tenureDate of CessationMarch 29, 2026Source:

TAC InfoSec Delivers on Shareholder Commitment, Surpasses 10,000 Clients, and Emerges Among the Top 5 Vulnerability Management Companies Globally TAC Security, a global leader in cybersecurity, today announced that it has surpassed 10,000 clients since April 2024, successfully delivering on its stated commitment to shareholders to achieve this milestone by 2026.The milestone includes 6,500+ clients added through TAC Security and 3,500+ through Cyberscope, reflecting the Group's strong execution, global trust, and ability to scale. TAC Security believes this signifies the creation of a powerful global cybersecurity distribution platform.TAC Security is trusted by the world's most respected brands, including Apple, Microsoft, Google...

MCX Subsidiary Receives Income Tax Demand Notice Multi Commodity Exchange of India Ltd (MCX) announced that its wholly owned subsidiary, Multi Commodity Exchange Clearing Corporation Limited (MCXCCL), has received a Notice of Demand from the Income Tax Department. The notice, dated March 28, 2026, pertains to an Assessment Order for Assessment Year 2024-25.The demand notice, received on March 28, 2026, totals Rs. 9,97,13,980. The demand arises from a disallowance of contributions made by MCXCCL to its Core Settlement Guarantee Fund.According to details released by the company, MCXCCL is preparing to file an appeal against the order. The company stated there is no anticipated impact on the operations or other activities of MCX or its...

ONGC Achieves Milestone in Daman Upside Development Project with Gas Monetisation Oil & Natural Gas Corporation Limited (ONGC) announced a significant milestone in the Daman Upside Development Project (DUDP) on March 29, 2026, with the commencement of gas monetisation through flowing gas from Platform B-12-24P. The DUDP, located in the western offshore approximately 180 kilometers northwest of Mumbai and 80 kilometers south of Pipavav, Gujarat, represents a capital expenditure of approximately USD 1 billion.The platform has been successfully commissioned and gas is now being delivered to the Hazira Plant. The project was completed in under two years from the date of award, attributed to strong project execution, innovative use of the...

Accuracy Shipping Limited Acquires Shares in A.R.S. Liners and A.R.S. Terminals Accuracy Shipping Limited announced on March 29, 2026, that its Board of Directors approved the acquisition of shares in A.R.S. Liners (India) Private Limited (A.R.S. Liners) and A.R.S. Terminals (India) Private Limited (A.R.S. Terminals).Accuracy Shipping Limited will subscribe to 6,78,125 equity shares of A.R.S. Liners with a face value of Rs. 10 each at a premium of Rs. 86, for a total consideration of Rs. 6,51,00,000. For A.R.S. Terminals, the company will subscribe to 49,90,000 equity shares with a face value of Rs. 10 each at par, for a total consideration of Rs. 4,99,00,000.Upon completion of the transaction, both A.R.S. Terminals and A.R.S...

ICICI Lombard General Insurance Receives Stay Order on GST Demand from Bombay High Court ICICI Lombard General Insurance Company Limited announced on March 29, 2026, that it has received an order from the Hon'ble Bombay High Court granting a stay on a previous GST demand. The original demand, issued by the Additional Commissioner of CGST & Central Excise, Palghar Commissionerate, totaled ₹ 31,18,41,716, encompassing a GST demand, interest, and penalty for the period July 2017 to March 2024. The demand relates to the applicability of GST on Group Health Insurance and Group Personal Accident policies to units within Special Economic Zones.The company had previously filed a writ petition against the original order. The Bombay High...

Signatureglobal (India) Limited Acquires Residential Project, Revises RMZ Investment Signatureglobal (India) Limited announced on March 29, 2026, that its Board of Directors approved the acquisition of a residential project from Gurugram Commercity Limited (GCL), a wholly-owned subsidiary, for a lump-sum consideration of Rs. 50,00,00,000 (Rupees Fifty Crores only).The transaction will be executed through a Business Transfer Agreement and other related agreements. As a result of the acquisition, GCL will cease to be a wholly-owned subsidiary of Signatureglobal (India) Limited.Concurrently, the company approved the transfer and sale of 35,69,731 equity shares of face value Rs. 10 each held by Signatureglobal (India) Limited (including...

Texmaco Rail & Engineering Receives Rs. 22.91 Crore Order from North Central Railway Kolkata – Texmaco Rail & Engineering Ltd., an Adventz Group company, announced it has received a new order valued at Rs. 22.91 Crore (excluding taxes) from North Central Railway. The order involves reliability improvements to track circuits through the provision of MSDAC in parallel with existing DCTC and associated work at 14 stations within the Prayagraj Division.The project, categorized as a domestic order, is expected to be completed within 180 days. Texmaco Rail & Engineering confirmed that neither the company nor its promoters, promoter group, or group companies have any interest in North Central Railway. The order does not constitute a related...

Acme Solar Holdings Announces Phase III Commissioning of Rajasthan BESS Project Acme Solar Holdings Limited announced the commissioning of the third phase of its Battery Energy Storage System (BESS) project located in Jaimalsar, Bikaner, Rajasthan. The project, undertaken by the company’s wholly-owned subsidiary, ACME Surya Power Private Limited, adds 11.429 MW / 51.354 MWh of capacity.The commercial operation date for the third phase is scheduled for March 31, 2026. This latest milestone brings the total commissioned capacity of the project to 107.143 MW / 481.440 MWh, representing a significant portion of the overall 250 MW / 1103.392 MWh BESS project. This project contributes to ACME Solar’s broader strategy of expanding its energy...

P N Gadgil Jewellers Opens Two New Stores, Reaching 78 Locations P N Gadgil Jewellers Limited announced the opening of two new retail locations on March 29, 2026.The first store opened at R Square Runwal, LBS Road, Mulund, Mumbai, Maharashtra, at approximately 12:30 P.M. A second store followed at Livin Solitaire, Canada Corner, Nashik, Maharashtra, opening around 5:00 P.M.With these additions, P N Gadgil Jewellers now operates a total of 78 stores.Source:

Sai Silks (Kalamandir) Limited Secures Extension for IPO Proceeds Utilization Sai Silks (Kalamandir) Limited announced on March 29, 2026, that its Audit Committee and Board of Directors have approved an extension for the timeline to utilize the remaining proceeds from its Initial Public Offering (IPO). The company had raised Rs. 566.23 crore (net of IPO expenses) through the IPO, which concluded on September 23, 2023, with an initial utilization timeline extending to March 31, 2026.The extension is primarily due to optimization in capital utilization and resulting savings. Sai Silks (Kalamandir) has exceeded its targeted retail footprint, expanding by approximately 28% over the planned retail space, adding a total of 1,82,652 sq. ft...

Thyrocare Technologies Receives Notice of Demand from Income Tax Department Thryrocare Technologies Limited announced today, March 29, 2026, that it has received a Notice of Demand under Section 156 of the Income-tax Act, 1961, from the Assessment Unit, Income Tax Department. The notice, dated March 27, 2026, was received on March 28, 2026.The notice pertains to Assessment Year 2024-25 and details a demand of ₹20,282,260.According to the company, there is no expected material impact on the financials, operations, or other activities of the Company, except for the potential payment of the mentioned amount if the company’s submissions are not accepted. The company intends to contest the demand before the appropriate authorities and...

Mumbai – March 28, 2026 – Deepak Builders & Engineers India Limited (NSE - DBEIL, BSE - 544276 | INEOOPAOQI1019) announced it has emerged as the lowest (L1) bidder for a residential infrastructure project adjacent to the Panipat Refinery & Petrochemical Complex Township of Indian Oil Corporation Limited (IOCL) in Haryana.The project involves the construction of 12 high-rise residential buildings (G+13) utilizing advanced monolithic construction technology. The scope of work includes the development of parking facilities, a sewerage treatment plant (STP), utility infrastructure, internal roadworks, and associated amenities. Deepak Builders received confirmation of its L1 status via the IOCL eProcurement portal. The total project value...

Dalmia Bharat Limited Reports Kiln Breakdown and Impact on Cement Sales Dalmia Bharat Limited announced on March 29, 2026, that a kiln at its Rajgangpur, Odisha facility experienced a sudden breakdown on March 13, 2026. The kiln, which supplies clinker to grinding units in Odisha, West Bengal, and Jharkhand, underwent repairs and was successfully relit on March 27, 2026. Operations have since stabilized, and clinker dispatch to grinding units is returning to normal.The 14-day disruption, coupled with low inventory levels, resulted in an approximate impact of 250,000 to 300,000 tons on cement sales in key eastern markets during March 2026.The company expressed regret for the supply disruptions experienced by channel partners during...

Solarworld Energy Solutions Limited Receives BESS EPC Project from NTPC Solarworld Energy Solutions Limited announced on March 29, 2026, that it has been awarded an Engineering, Procurement and Construction (EPC) package for Battery Energy Storage System (BESS) implementation at the Solapur Super Thermal Power Station (Lot-1). The contract was awarded by NTPC Limited.The project, titled 'BESS Implementation at NTPC Thermal Power Stations (Lot-1),' has an award capacity of 132 MW/264 MWh. The value of the order is approximately INR 314.26 crore (excluding taxes). The project execution timeframe is 15 months.According to details released, the BESS EPC project is a domestic order and does not involve any related party transactions...

Avenue Supermarts Limited Expands Retail Footprint with Three New Stores Avenue Supermarts Limited announced the opening of three new stores on March 29, 2026. The new locations include Pipla, Nagpur (Maharashtra), AU Family Hub, Ghaziabad (Uttar Pradesh), and Vijay Nagar, Jabalpur (Madhya Pradesh).The company’s total store count now stands at 481.LocationState/TerritoryPiplaNagpur, MaharashtraAU Family HubGhaziabad, Uttar PradeshVijay NagarJabalpur, Madhya PradeshSource:

EPL Limited and Indovida to Merge, Creating a Consumer Packaging Leader for Emerging Markets EPL Limited, a global leader in flexible packaging solutions backed by Blackstone, and Indovida India Private Limited, a leading global rigid PET packaging platform backed by Indorama Ventures, have signed definitive agreements to merge. The merger will establish a ~$2 billion valuation entity, with EPL being valued at ~$1.2 billion and Indovida being valued at ~$0.7 billion.The combined platform will have ~$1 billion in revenue and is expected to result in sizable synergies driven by complementary geographic footprint and products, procurement & supply chain efficiency, and strong sustainability initiatives. EPL's valuation reflects a premium...

Setco Automotive Ltd. Approves Stake Sale in Subsidiary, Plans Corporate Name Change Setco Automotive Ltd. announced on March 29, 2026, that its board approved the execution of several documents related to a transaction involving its material subsidiary, Setco Auto Systems Private Limited (SASPL).Under the agreements, RSB Transmissions (I) Limited will acquire a 41% stake in SASPL for approximately INR 185 Crores. The consideration is based on SASPL’s financial position as of December 31, 2025, and is subject to adjustments. Deferred consideration may be paid based on SASPL's EBITDA performance and other milestones, potentially adding up to INR 71 Crores. The sale is expected to close within 120 days.In addition to the initial...