Markets

Manappuram Finance to Consider Borrowing Program, Debt Securities Issuance Manappuram Finance Limited has announced that a meeting of its Board of Directors is scheduled for Monday, March 30, 2026. The meeting’s agenda includes consideration and approval of a borrowing program encompassing the issuance of redeemable non-convertible debentures, notes, bonds, and other debt securities.The company intends to issue these securities in both onshore and offshore markets through private placement and/or public issue, as well as other permissible borrowing modes for the financial year 2026-27.The announcement was made following a reference number SEC/SE/218/2025-26 from India International Exchange (IFSC) Ltd. dated March 24, 2026. The...

Olympic Cards Ltd. Receives Fine Waiver from BSE Olympic Cards Ltd. (Scrip code: 534190) has received a waiver of fines levied by the Bombay Stock Exchange (BSE) related to non-compliance with certain provisions of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015. The decision follows a review by the BSE's Internal Regulatory Oversight and Review Group on March 20, 2026.The company’s representations for waiver of fines were considered, taking into account written submissions from Olympic Cards Ltd. The waivers are attributed to factors including the impact of the COVID-19 pandemic and prolonged illness of the Company Secretary, which led to inadvertent omissions in...

Oriana Power Limited Receives EPC Orders for 32 MW Solar Power Projects Oriana Power Limited announced on March 25, 2026, that it has received three separate fixed price contract purchase/work orders for setting up ground mounted solar power projects aggregating to 32 MW capacity, along with Battery Energy Storage Systems (BESS) of 20 MWh capacity.The scope of work includes end-to-end execution of the solar power projects, encompassing design, supply, installation, testing, commissioning, and Operation and Maintenance (O&M) services for a period of 2 years.The aggregate EPC contract value for the three work orders is ₹1,62,68,20,000, and the aggregate O&M contract value is ₹1,00,00,000, both amounts being exclusive of applicable...

Brainbees Solutions Limited Resolves Income Tax Assessment Discrepancy March 24, 2026 – Brainbees Solutions Limited (NSE: FIRSTCRY, BSE: 544226) announced a significant rectification in an income tax assessment for the Assessment Year 2022-23. The adjustment follows an earlier communication on January 31, 2026, regarding an initial assessment order.The Office of the Assistant Commissioner of Income Tax, Central Circle 1(1), Pune, had previously issued an order and notice of demand dated January 30, 2026, totaling Rs. 31,36,30,330. This figure stemmed from an addition of Rs. 93,57,99,520 to the company's total income for the year.Following an application by the company and subsequent review by the authority, the total income for AY...

Ambuja Cements Receives ‘Care EDGE - ESG 1+’ Rating Ambuja Cements Limited has been assigned an ESG rating of 'Care EDGE - ESG 1+' by CARE ESG Ratings Limited. The rating signifies a leadership position in managing environmental, social, and governance (ESG) risks, attributed to the company’s best-in-class disclosures, policies, and performance.The rating was assigned on March 24, 2026. Further information will be available on the company’s website at www.ambujacement.com.Source:

HDFC Bank Board Meeting Scheduled for April 18, 2026 HDFC Bank Ltd. announced a board meeting scheduled for April 18, 2026, to consider several key matters. The agenda includes approval of the audited standalone financial results for the quarter and year ended March 31, 2026, and audited consolidated financial results for the same period. The board will also consider recommending a dividend for the financial year 2025-26, including setting a record date.Trading in the bank's securities will be restricted for designated employees and their immediate relatives from March 25, 2026, to April 20, 2026, in accordance with the bank's share dealing code.Ajay Agarwal, Group Head - Secretarial & Group Oversight and Company Secretary...

Nexome Capital Markets Limited Rights Issue Oversubscribed by 100.79% Mumbai, March 25, 2026 – Nexome Capital Markets Limited (formerly SMIFS Capital Markets Limited) announced the successful closure of its rights issue on March 23, 2026. The offering, which began on March 13, 2026, was oversubscribed by 100.79%.The total size of the rights issue was Rs. 22,03,87,500. The Rights Issue Committee approved the allotment of 29,38,500 fully paid-up equity shares at an issue price of Rs. 75 per share, including a share premium of Rs. 65 per share.Following the allotment, the company's paid-up equity share capital stands at 88,15,500 shares. The post-issue paid-up share capital of the company is Rs. 8,81,55,000.The Rights Issue Committee...

Freshara Agro Exports Limited Recognized as ‘Top Exporter MSME of the Year - Manufacturing’ Freshara Agro Exports Limited announced on March 24, 2026, that it has received the ‘Top Exporter MSME of the Year - Manufacturing’ award at the Economic Times MSME Awards 2025. The award was conferred on March 24, 2026. The company’s stock symbol is FRESHARA, and its ISIN is INE0SFW01015. Additional information will be available on the company website at www.fresharaagroexports.com.Source:

SGL Resources Ltd. Pays Fine for Non-Compliance SGL Resources Limited announced that it received a fine of 88,500 Indian Rupees, including Goods and Services Tax (GST), from the BSE Limited for non-compliance related to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The non-compliance concerned the timely filing of unaudited financial results for the quarter ended December 31, 2025.The company remitted the full fine amount of 88,500 Indian Rupees to the BSE Limited on March 24, 2026. SGL Resources Limited disclosed its unaudited financial results for the quarter ended December 31, 2025, on March 3, 2026. The payment was made to avoid further penalties and to ensure continued compliance...

IRB Infrastructure Developers Limited Enters into Project Implementation Agreement for TOT-18 Project IRB Infrastructure Developers Limited has executed a Project Implementation Agreement with IRB Chandibhadra Tollway Private Limited, a wholly-owned special purpose vehicle of IRB Infrastructure Trust. This agreement follows a disclosure dated February 13, 2026, and shareholder approval via postal ballot on March 23, 2026.Under the agreement, IRB Infrastructure Developers Limited will serve as the Project Manager for IRB Chandibhadra Tollway Private Limited in relation to the implementation of the TOT-18 Project, aligning with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, as amended...

JM Financial Ltd. Subscribes to Shares in Overseas Holdings Subsidiary JM Financial Limited announced on March 25, 2026, that it has subscribed to 24,25,000 ordinary shares of USD 1 each in JM Financial Overseas Holdings Private Limited, a wholly owned subsidiary. The subscription was made at a premium of USD 0.48 per share, totaling a consideration of USD 3.59 million, equivalent to approximately Rs. 33.70 crore.JM Financial Overseas Holdings Private Limited, incorporated in October 2008, is registered with the Financial Services Commission in Mauritius. It operates as an investment holding company and had a turnover of Rs. 13.59 crore as of March 31, 2025.The acquisition, considered a related party transaction due to the...

Sasken Technologies Limited Receives Assessment Order from Income Tax Department Sasken Technologies Limited announced that it received an assessment order from the Assessment Unit, Income Tax Department on March 24, 2026.The order, issued under section 143(3) read with section 144B, includes additional disallowances and adjustments to the company's reported income. Specifically, the assessment unit has added the following to the returned income, resulting in a tax demand of Rs. 8,14,70,360:Additional disallowance under section 14A of the Income Tax Act: Rs. 33,74,000 Income disclosed under Schedule A-OI not offered for tax: Rs. 11,52,81,541According to the company, there is no anticipated material impact on its financial or...

Brainbees Solutions Limited Income Tax Demand Reduced Following Rectification Order Brainbees Solutions Limited announced a significant reduction in an income tax demand following a rectification order from the Office of the Assistant Commissioner of Income Tax, Central Circle 1(1), Pune. The update follows a previous intimation dated January 31, 2026, regarding an initial assessment order and notice of demand totaling Rs. 31,36,30,330 for Assessment Year (AY) 2022-23.The initial assessment included an addition of Rs. 93,57,99,520 to the company’s total income for AY 2022-23. However, after the company applied for rectification and the authority reviewed the case records, the total income for AY 2022-23 has been recomputed to Rs...

Fino Payments Bank Limited Addresses Legal Developments, Highlights Deposit Growth Fino Payments Bank Limited announced on March 24, 2026, that the Hon'ble High Court of Telangana dismissed a Writ petition filed by Rishi Gupta, the MD & CEO of the bank. The petition challenged his recent arrest.The bank stated that the ongoing investigation relates to certain program managers associated with multiple banks and is separate from Fino Payments Bank's GST compliance. Legal recourse will be pursued regarding the court's decision. A bail application for Rishi Gupta has been filed with the Hon'ble Special Judge for Economic Offences in Hyderabad.Fino Payments Bank reaffirmed its commitment to strong governance practices, regulatory...

Kajaria Ceramics Acquires Remaining Stake in Kajaria Surfaces, Making it a Wholly-Owned Subsidiary Kajaria Ceramics Limited announced on March 25, 2026, that it has acquired an additional 950,000 equity shares of Kajaria Surfaces Private Limited. This acquisition represents 10% of the company’s equity, making Kajaria Surfaces a wholly-owned subsidiary of Kajaria Ceramics.Kajaria Surfaces Private Limited, incorporated in December 2023, manufactures tiles. The company reported a turnover of Rs. 109.97 crores and a profit after tax of Rs. 1.09 crores as of March 31, 2025.The acquisition was completed on March 24, 2026, for a cash consideration of Rs. 1.16 crores. The transaction, which involved acquiring shares from other shareholders...

Melstar Information Technologies Limited Announces Director Resignation Melstar Information Technologies Limited announced on March 24, 2026, that Uttam Prakash Agarwal has resigned from his position as Non-Executive Chairman and Independent Director, effective March 23, 2026. Agarwal cited preoccupation with other professional commitments and responsibilities as the reason for his departure.According to disclosures, Uttam Prakash Agarwal holds directorships in Zee Entertainment Enterprises Limited and 3I Infotech Limited. In Zee Entertainment Enterprises Limited, he serves as a Non-Executive Independent Director, chairing the Audit and Stakeholders Relationship Committees. At 3I Infotech Limited, he is a Non-Executive Independent...

R R Kabel Limited Receives Re-assessment Orders from Income Tax Department R R Kabel Limited announced it received Re-assessment Orders from the Office of the Deputy Commissioner of Income Tax concerning Assessment Years 2018-19, 2019-20, and 2021-22. The communication was received on March 24, 2026, for AY 2018-19 and AY 2019-20, and March 23, 2026, for AY 2021-22.The Income Tax Department’s orders indicate a demand of ₹66.58 Crores, including ₹42.27 Crores in interest, due to additions and disallowance of expenditures under various sections of the Income Tax Act.R R Kabel Limited stated it believes the demand is higher due to computational errors in one of the reassessment orders and intends to file rectification under section 154...

RKEC Projects Limited Receives New Work Order from National Highways Authority of India RKEC Projects Limited announced on March 25, 2026, that it has been awarded a work order by the National Highways Authority of India (NHAI). The project involves the balance work of a new bridge on the Gandak river, including approaches, and the rehabilitation of existing Gandak Bridge and Mahi Bridge. The project is situated on the Chappara-Hajipur section of NH-19 in Bihar and will be executed on an Engineering, Procurement, and Construction (EPC) mode.The value of the awarded work order is Rs. 40.50 Crore. The company stated that this order falls within its ordinary course of business.For further information, contact: M: 0891-2574517 Tele Fax...

HMT Limited Appoints N. Ramesh Kumar as Chairman and Managing Director (Additional Charge) HMT Limited announced that N. Ramesh Kumar, Executive Director (SBD) of Bharat Heavy Electricals Limited (BHEL), has been appointed as the Additional Charge of Chairman and Managing Director, effective March 25, 2026. The appointment was approved by the Ministry of Heavy Industries, Government of India, through an order dated March 24, 2026.This appointment is for a period of one year or until a regular incumbent joins, whichever occurs first, and is subject to the approval of the Appointment Committee of the Cabinet (ACC).The company is currently completing the necessary appointment formalities in accordance with the Companies Act, 2013 and...

Cummins India Limited Receives Favorable Order from CIT(A) Regarding Assessment Year 2014-15 Pune, March 24, 2026 – Cummins India Limited announced today that the Commissioner of Income Tax (Appeals) (CIT(A)) has issued a favorable order dated March 23, 2026, concerning an appeal filed against an assessment order for the assessment year 2014-15.The CIT(A)’s order grants relief to the company regarding additions totaling INR 8.38 Crores, resulting in a tax impact of INR 2.85 Crores, which the company is expected to receive.The details of the favorable order are as follows:Sr. No.Particular(s)Information of such event(s)1aName of opposing partyIncome Tax Department1bCourt/ tribunal/agencyCommissioner of Income Tax (Appeals)...