Markets

Thomas Cook (India) Limited Increases Investment in Indian Horizon Marketing Services Limited Mumbai – March 27, 2026 – Thomas Cook (India) Limited announced a further investment of INR 2,50,00,000 (Two Crore fifty lakh Only) in Indian Horizon Marketing Services Limited (IHMSL). The investment, authorized by the company's Sub-Committee of Board of Directors on March 27, 2026, involves the subscription to 25,00,000 Class A Equity Shares of Rs. 10/- each in a preferential offer.The additional investment will be used for the co-development of a Travel AI Platform.IHMSL is a joint venture between Thomas Cook (India) Limited and Atirath Technologies Private Limited, incorporated on December 26, 1989. The preferential offer allotment is...

Pine Labs Limited Receives Penalty from Reserve Bank of India Mumbai – March 27, 2026 – Pine Labs Limited announced today that it has received an order from the Reserve Bank of India (RBI) imposing a monetary penalty.The RBI order, dated March 23, 2026, levies a penalty of Rs. 3,10,000 (Rupees Three Lakh Ten Thousand only) under Section 30(1) read with Section 26(6) of the Payment and Settlement Systems Act, 2007.According to the RBI, the penalty stems from supervisory findings related to the issuance of Full-KYC Prepaid Payment Instruments. The findings indicate that Pine Labs issued these instruments without completing the Know Your Customer (KYC) verification of the respective instrument holders.Pine Labs Limited stated that...

Suditi Industries Ltd. Completes Acquisition of SAA & Suditi Retail Private Limited Suditi Industries Ltd. announced the successful completion of an acquisition on March 27, 2026, acquiring the remaining 50% equity shareholding in SAA & Suditi Retail Private Limited. This acquisition transforms SAA & Suditi Retail Private Limited into a wholly-owned subsidiary of Suditi Industries Limited.The acquisition was conducted at an arm's length basis based on an independent valuation report, with the shareholding acquired from Project Anushka Sharma Lifestyles Private Limited. The cost of acquisition was Rs. 5,000.SAA & Suditi Retail Private Limited, incorporated on September 19, 2017, is engaged in the manufacturing of textile garments and...

MPS Limited Receives Income Tax Assessment Order and Demand Notice MPS Limited announced today that it received an Assessment Order under Section 143(3) of the Income-tax Act, 1961, and a Demand Notice under Section 156 of the Act for the Assessment Year 2024-25. The notices were dated March 23, 2026, and received on March 24, 2026, from the Assessment Unit, Income Tax Department.The assessment order resulted from scrutiny proceedings, with the returned income assessed at a higher amount, leading to a tax demand of INR 9,10,68,600. The variations stem from differences in interpreting specific transactions related to withholding tax and outstanding creditor balances.MPS Limited stated that it believes it has strong factual grounds...

Samhi Hotels Ltd. Allots Shares Under Employee Stock Option Plan Samhi Hotels Ltd. announced the allotment of 9,28,582 equity shares on Friday, March 27, 2026, following the exercise of options granted under the Employees Stock Option Plan - 2023 (ESOP - 2023).The company received in-principle approval for the share issuance from the BSE Limited (letter no. DCS/IPO/JP/ESOP-IP/3120/2023-24 dated March 27, 2024) and the National Stock Exchange of India Limited (letter no. NSE/LIST/39644 dated March 28, 2024). These shares have no lock-in period and will rank equally with existing shares.The company's issued, subscribed, and paid-up share capital increased as a result of the allotment:FromToINR 22,12,06,154 divided into...

JSW Cement to Appeal Order Regarding ITC Disallowance and Penalty JSW Cement Ltd. announced on March 27, 2026, that it received an order from the Additional Commissioner, CGST & C.X. Haldia Commissionerate. The order pertains to the disallowance of Input Tax Credit (ITC) and imposition of a penalty.According to the order dated March 27, 2026, JSW Cement is facing a disallowance of ITC amounting to ₹6,88,81,340 and an associated penalty of ₹6,88,81,340. The authority cited provisions of section 74, alleging suppression of facts, and violations of section 16 conditions, resulting in ineligible ITC.The company believes the order is incorrect and did not adequately consider the company's contentions. JSW Cement intends to file an appeal...

SBFC Finance Ltd. Schedules Board Meeting, Closes Trading Window SBFC Finance Ltd. announced a board meeting scheduled for Saturday, April 25, 2026. The meeting’s agenda includes reviewing and approving the audited financial results for the quarter and fiscal year ending March 31, 2026, and the audited financial statements for the fiscal year ending March 31, 2026.The board will also consider and approve an increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013, pending shareholder approval at the upcoming Annual General Meeting. This proposed increase includes borrowings through debt instruments such as Non-Convertible Debentures and other securities, potentially in multiple tranches.In accordance with the...

Crompton Greaves Consumer Electricals Limited Launches New Stabilizer Crompton Greaves Consumer Electricals Limited announced the launch of a new product, the Energion EA4150 AC Stabilizer (150-280V), on March 27, 2026. The product falls under the B2C Lighting category and is initially targeted for the domestic market.According to a company statement, the product launch reflects a commitment to good corporate governance practices. The company noted the launch did not meet the threshold for materiality.Source:

Pine Labs Limited Subsidiary to Initiate Voluntary Strike-Off Process Mumbai – March 27, 2026 – Pine Labs Limited announced today that its wholly-owned subsidiary, Mopay Services Private Limited (MSPL), has initiated the process of voluntary strike-off from the register of companies. The decision was approved by MSPL’s shareholders during a meeting held on March 27, 2026.MSPL is not currently engaged in any business operations and has no activity. The move aims to streamline the group structure and reduce administrative and compliance overheads. The company will file an application with the Registrar of Companies under Section 248 of the Companies Act, 2013, to remove MSPL from the register.The dissolution is subject to approval...

Swan Corp Ltd. Issues Corporate Guarantee for Subsidiary Swan Corp Ltd. announced on March 27, 2026, that it has issued a corporate guarantee for a sum of Rs. 72.57 crores (Rupees Seventy Two Crores and Fifty Seven lakhs) to secure the repayment obligations of Swan LNG Private Limited, a subsidiary company.According to details released, there is no direct interest of Swan Corp Ltd. promoters or promoter group companies in the transaction, except for the fact that Swan LNG Private Limited is a subsidiary of Swan Corp Ltd.The corporate guarantee of Rs. 72.57 crores is in relation to the repayment obligations of Swan LNG Private Limited. Swan Corp Ltd. stated that the issuance of the guarantee will have no immediate pecuniary impact on...

Jindal Steel Ltd. Announces Directorate Changes Jindal Steel Ltd. announced several changes to its board of directors on March 27, 2026. The company appointed Mr. Debojyoti Roy as an Additional Director and Wholetime Director for a three-year term, pending shareholder approval. Mr. Damodar Mittal was also reappointed as a Wholetime Director for a further three-year term, also subject to shareholder approval.Concurrently, Mr. Sabyasachi Bandyopadhyay stepped down from his role as a Whole-time Director and Director with effect from the close of business hours on March 27, 2026, upon completion of his tenure.Mr. Debojyoti Roy brings approximately 27 years of experience, previously serving as Chief - Corporate Strategy & Planning at...

The Bombay Burmah Trading Corporation Ltd. Sells Tea Plantations for ₹120 Crores The Bombay Burmah Trading Corporation Limited announced the sale of its Tea Plantations (Dunsandle Estate) located in Village Sholur, Taluka - Udhagamandalam, District - Nilgiris. The transaction involved an Asset Purchase Agreement executed on March 27, 2026, with a total consideration of ₹1,20,00,00,000 (Rupees One hundred and twenty crores). As of the announcement date, ₹110 Crores has been received, with the remaining balance to be received as per the agreement.The buyers involved in the transaction are Mr. Rangasamy S/o Kanthasamy Gounder, Mrs. Rathinambal W/o. Rangasamy, Mr. Durai Arun S/o. Rangasamy, Mr. Saran S/o. Rangasamy, and Poomex Clothing...

Tamilnad Mercantile Bank to Open Three New Branches on March 30, 2026 Tamilnad Mercantile Bank Limited announced plans to expand its network with the opening of three new branches on March 30, 2026. The new branches will be located in Ballari, Karnataka; Anand, Gujarat; and Pandalkudi, Tamil Nadu.Branch Details:Name of the BranchAddress of the BranchDate of OpeningBallariSri Basawa Square, Gandhi Nagar 2nd Cross, Ballari, Karnataka -583 10130.03.2026AnandS.No.2739, T.P.No.2, Plot No.417, Shop No.G/4,G/5,G/6,Ground Floor 'Radhasoami Sulay' Opp to Fire Station Sardar Gunj, Baliyadev Chowkdi,Vyayam Shala Road Anand, Gujarat - 388 00130.03.2026PandalkudiNo.8/139 A3, Sooranayakkanpatti Street, Pandalkudi, Aruppukottai Taluk...

The Bombay Burmah Trading Corporation Limited Sells Tea Plantations for ₹120 Crores The Bombay Burmah Trading Corporation Limited announced the sale of its Tea Plantations (Dunsandle Estate) located in Village Sholur, Taluka Udhagamandalam, District Nilgiris. The transaction was executed through an Asset Purchase Agreement with multiple buyers for a total consideration of ₹1,20,00,00,000 (Rupees One hundred and twenty crores).As of the date of the agreement, ₹110 Crores has been received, with the remaining consideration expected according to the terms of the agreement.The buyers involved in the transaction are Mr. Rangasamy S/o Kanthasamy Gounder, Mrs. Rathinambal W/o. Rangasamy, Mr. Durai Arun S/o. Rangasamy, Mr. Saran S/o...

Saatvik Green Energy Limited Subsidiary Secures INR 14.48 Crore Order for Solar PV Modules Mumbai, India – March 27, 2026 – Saatvik Green Energy Limited announced today that its material subsidiary, Saatvik Solar Industries Private Limited, has received and accepted an order valued at INR 14.48 Crores from a domestic Independent Power Producer/Engineering, Procurement, and Construction (EPC) player. The order is for the supply of Solar PV Modules.The order, awarded to Saatvik Solar Industries Private Limited, will be executed by March 2026. The commercial consideration for the order aggregates to INR 14.48 Crores.According to details released, the order is of a commercial nature and does not involve any related party transactions...

Aequs Limited Completes Acquisition of Stake in Aequs Foundation Aequs Limited announced the completion of its acquisition of a 50% stake in Aequs Foundation. The acquisition, initially disclosed on February 23, 2026, involved the purchase of 1,000 equity shares from Hubballi Durable Goods Cluster Private Limited through a secondary transaction.The acquired shares represent 50% of the total share capital of Aequs Foundation, with each share carrying a face value of 10 Indian Rupees. The total consideration for the acquisition amounted to 10,000 Indian Rupees. The transfer of the equity shares to Aequs Limited was finalized today.Further details regarding the acquisition are available on the company’s website at...

Crompton Greaves Consumer Electricals Receives Income Tax Demand Notice Crompton Greaves Consumer Electricals Limited announced today, March 27, 2026, that it has received a notice of demand under Section 156 of the Income Tax Act of 1961 from the office of the Assessment Unit, Income Tax Department, Mumbai. The demand totals ₹42,60,90,820, comprising ₹34,53,31,204 in tax and ₹8,07,59,616 in interest for the Assessment Year 2024-25.The demand is related to disallowances including ESOP expenses, provisions against warranty and after-sales service expenses, depreciation on intangible assets, and payments to non-filers of income tax returns.The company anticipates a favorable outcome at the Appellate level and plans to file an appeal...

Marathon Nextgen Realty Ltd. Invests in Multiple Projects Through Subsidiary Marathon Nextgen Realty Ltd. announced that its wholly-owned subsidiary, Nexzone IT Infrastructures Private Limited (NZIT), has acquired a controlling interest in DVK Developers Private Limited (DVK), Shree S S Developers Private Limited (SSSD), and Shree Swami Samarth Builders, a partnership firm (SSSB), for a total investment of Rs. 70.00 Crores.The investment, detailed in filings received by the company on March 27, 2026, is expected to support vertical expansion, business growth, and an improved customer base. The combined gross development value (GDV) of the projects is projected to exceed Rs. 245 Crores, Rs. 385 Crores and Rs. 210 Crores over the life...

Inventurus Knowledge Solutions Limited Completes First Tranche of Investment in Subsidiary Inventurus Knowledge Solutions Limited announced the acquisition of 29,541 shares in its wholly owned subsidiary, Inventurus Knowledge Solutions, Inc. ('IKS Inc.'), on March 27, 2026. This investment represents the first tranche of a larger commitment, totaling USD 19,000,476. The move follows prior board approval for the investment in IKS Inc., as disclosed on March 13, 2026.The acquisition was made in accordance with the provisions of Regulation 30(7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Source:

Manorama Industries Receives Credit Rating Upgrade Manorama Industries Limited announced on March 27, 2026, that Care Edge Ratings has upgraded the ratings for its bank loan facilities. The upgrade reflects a positive assessment of the company’s financial health and performance.The ratings summary is detailed below:Facilities/InstrumentsAmount (Rs. in Crore)RatingRating ActionLong term bank facilities577.90 (Enhanced from 492.90)CARE A+; StableUpgraded from CARE A; StableLong term / Shortterm bank facilities105.00 (Enhanced from 10.00)CARE A+; Stable CARE Al+LT rating and Stable outlook assigned and ST rating upgraded from CARE AlFurther details regarding the ratings are available on the company’s website at...