Markets

Tamilnad Mercantile Bank Faces Income Tax Demand of Rs. 204.23 Crore Tamilnad Mercantile Bank Limited (TMB) announced that the Assessment Unit of the Income Tax Department issued a demand notice on March 18, 2026. The notice, dated March 17, 2026, details a demand of Rs. 2,04,23,11,454 (Rupees Two Hundred Four Crore Twenty-Three Lakh Eleven Thousand Four Hundred Fifty-Four Only).The demand stems from a disallowance of a claim under Section 36(1)(viia) of the Income Tax Act, 1961, for the Assessment Year 2013-14. The action was taken under Section 156 of the Income Tax Act, 1961, and sections 147 and 254 read with section 144B.According to the company, the demand notice would not have a material impact on the bank’s financial...

Physicswallah Limited Receives Income Tax Assessment Order, Faces ₹263.34 Crore Demand Physicswallah Limited announced today that it received an assessment order and demand notice dated March 16, 2026, under Section 143(3) of the Income-tax Act, 1961.According to the notice from the Assessment Unit of the Income Tax Department, investments received during Assessment Year 2023-24 from investors, including SEBI-registered Category II AIF, have been treated as taxable income. This has resulted in a tax demand of ₹263.34 crore.The company stated that this Demand Notice is not expected to have a material impact on its financial position, operations, or business activities. Physicswallah Limited plans to file an appeal before the...

Nazara to Acquire Controlling Stake in Social Gaming Platform Bluetile and BestPlay for USD 100.3 Million Positions Nazara at the forefront of AI-driven gaming through an integrated content, engagement and distribution platformMumbai, India – March 18, 2026 – Nazara Technologies Limited (BSE: 543280 | NSE: NAZARA) announced that its wholly owned subsidiary, Nazara Technologies UK Limited ('Nazara UK'), has signed definitive agreements to acquire a 50% controlling stake in Bluetile Games S.L. (formerly known as Playvalve S.L.) and BestPlay Systems S.L. for a consideration of USD 100.3 million (INR ~918 crores).Business OverviewBluetile operates a portfolio of globally popular casual, social mobile games including Yatzy, Domino...

Aditya Birla Lifestyle Brands Limited Receives Tax Orders Aditya Birla Lifestyle Brands Limited (ABLBL) announced today, March 18, 2026, that the Office of Superintendent of Central Tax, Range-AED5, East Division-5 Bangalore-East Commissionerate has issued multiple orders dated March 17, 2026.The orders, related to the business that was demerged from Aditya Birla Fashion and Retail Limited (ABFRL) as of May 1, 2025, involve demands for tax, interest, and penalty.Here’s a summary of the orders:ParticularsDetailsDetailsDetailsDetailsDetailsTax₹ 16,48,626₹ 14,28,059₹ 18,41,608InterestNot quantifiedNot quantifiedNot quantifiedPenalty₹ 16,48,626₹ 14,28,059₹ 18,41,608Total Demand₹ 32,97,252₹ 28,56,118₹ 36,83,216Date...

South Indian Bank Revises Marginal Cost of Funds Based Lending Rates South Indian Bank Ltd. announced changes to its Marginal Cost of Funds Based Lending Rates (MCLR) effective March 20, 2026. The revisions, detailed below, apply to multiple tenors.The overnight MCLR has been set at 8.00%, while the one-month MCLR is at 8.45%. The three-month MCLR is 9.40%, the six-month MCLR is 9.45%, and the one-year MCLR is 9.50%.The revised rates are available on the bank's website at www.southindianbank.bank.in.TenorMCLROvernight MCLR8.00%One-month MCLR8.45%Three-month MCLR9.40%Six month MCLR9.45%One year MCLR9.50%Source:

Indo Count Industries Limited Concludes GST Inspection, Rectifies Discrepancies Indo Count Industries Limited announced the conclusion of a GST inspection conducted by the Maharashtra State GST Department at the company’s premises on Tuesday, March 17, 2026. The inspection, which began earlier in March, was initiated under Section 67 of the Maharashtra Goods and Services Tax Act, 2017.According to a filing, Indo Count Industries has proactively addressed certain discrepancies by agreeing to pay Integrated Goods and Services Tax (IGST) for the period from April 1, 2020, to the present. This payment is subject to restitution and restoration.The company stated that the inspection is not expected to have a material impact on its...

Waaree Energies Ltd. Transfers Shares to Educational Institution Waaree Energies Ltd. announced the transfer of shares to Shri Mahavira Jaina Vidyalaya (SMJV) on March 17, 2026, as part of a philanthropic initiative by the Promoter Group. Mr. Chimanlal Tribhovandas Doshi, a member of the Promoter Group, transferred 90,000 equity shares to SMJV, representing 0.031% of the company’s total paid-up equity share capital.The transfer is intended to support charitable initiatives and educational purposes. This action follows a previous communication on October 6, 2025, regarding the Promoter Family's intention to donate 1% of the company's equity share capital for charitable causes.Additional information is available on the company's...

Navkar Corporation Limited Receives Income Tax Assessment Order and SCN Navkar Corporation Limited announced today, March 18, 2026, that it received an Assessment Order and a Show Cause Notice (SCN) from the Income Tax Department. The order pertains to the Assessment Year 2024-25 and was received via email at 06:36 AM.The assessment order, issued on March 16, 2026, includes an addition of Rs. 44,051/- related to interest income. Additionally, the company received an SCN regarding a potential penalty linked to the adjustments made in the assessment order.According to the company, the assessment and potential penalty are not expected to have a material impact on its financial performance, operations, or other activities.Details of...

IKS Health Wins Three Top Honors in Black Book’s 2026 AI-Driven RCM, Medical Coding, and Clinical Documentation & AI Services Categories Mumbai, India | Dallas, TX - March 18, 2026 - IKS Health, a global leader in care enablement solutions, has been recognized with three 2026 Black Book Research awards: AI-driven revenue cycle management (RCM) for a second year, medical coding for the fourth year in a row, and clinical documentation and AI services for 13 straight years.According to Black Book Research, continued market growth is anticipated across all three segments, driven by a broader shift toward outcomes-based contracting, integrated service delivery, and enterprise-grade accountability. 35% to 55% of surveyed providers expect to...

Minda Corporation Ltd. Redeems Commercial Paper of ₹100 Crores Minda Corporation Limited announced the redemption of commercial paper totaling ₹100 crores (ISIN INE842C14198) on March 18, 2026. The commercial paper was initially issued on December 22, 2025. The company confirmed the redemption in accordance with SEBI circular Number. SEBI/HO/DDHS/P/CIR/2021/613 dated April 13, 2022.Source:

Times Green Energy (India) Ltd. Sets Record Date for Bonus Share Issue Times Green Energy (India) Ltd. has announced March 24, 2026, as the record date for a bonus share issue. The company will issue 1 new fully paid-up equity share for every 1 existing fully paid-up equity share held. The bonus share initiative was approved by the company's shareholders.The Scrip Code for Times Green Energy (India) Ltd. on the BSE Limited is 543310.Source:

CWD Ltd. Receives Purchase Order Worth Rs. 45.24 Crores CWD Ltd. announced today, March 18, 2026, that it has received a purchase order valued at Rs. 45.24 Crores. The order was placed by a Fintech Company based in India.The purchase order is for the supply of Communication products and is expected to be executed within 3 months. The value of the order is Rs. 45.24 Crores plus applicable taxes.According to details released by the company, neither the awarding entity’s name nor the specific terms and conditions of the contract are being disclosed due to competitive reasons.The company confirmed that neither the awarding entity is a domestic or international entity, nor do any promoters, promoter groups, or group companies have an...

DCX Systems Limited Receives New Purchase Orders Worth INR 12.81 Crores DCX Systems Limited announced today, March 18, 2026, that it has received purchase orders totaling approximately INR 12.81 Crores from both domestic and international customers. The orders are for the manufacture and supply of Cable and Wire Harness Assemblies.The company detailed the order information as follows:Sl. No.Nature of Order(s)Name of the CustomerOrder Value1Manufacture and supply of Cable and Wire Harness AssembliesDomestic & International CustomersINR 12.81 CroresThe purchase orders were received in the normal course of business.Source:

Bright Outdoor Media Successfully Concludes Bright Real Estate Expo 2026, Marking Its Sixth Curated Event in Six Months Mumbai, March 2026: Bright Outdoor Media Limited has successfully concluded the Bright Real Estate Expo 2026, further strengthening its strategic expansion beyond out-of-home advertising into curated experiential platforms and industry-led events. The three-day property showcase was held from March 13 to March 15, 2026 at Kora Kendra Ground No. 2 in Borivali West, Mumbai.The expo, presented in association with the Shreeji Group of Companies, brought together 25+ leading real estate developers and over 50 residential and commercial projects, offering homebuyers and investors a comprehensive platform to explore premium...

Mangalam Drugs and Organics Limited Announces Release of Pledged Shares Mangalam Drugs and Organics Limited announced on March 18, 2026, the release of pledged shares held by promoter Shree Rasbihari Trading and Investments Private Limited. The release involved 173,000 shares, representing 1.09% of the company's total share capital. This release follows an earlier encumbrance of 982,563 shares, which constituted 6.20% of the total share capital, pledged as security for debt to M/s Famy care Private Ltd. Following the release, Shree Rasbihari Trading and Investments Private Limited holds 982,563 shares, representing 6.20% of the company’s total share capital. The release was reported to both the BSE Limited and the National Stock...

Mold-Tek Technologies Limited Receives Demand Notice Under Income Tax Act Mold-Tek Technologies Limited announced on March 18, 2026, that it received a demand notice under Section 156 of the Income Tax Act, 1961, for the Assessment Year 2024-25. The notice was issued by the Income Tax Department, Ministry of Finance, Government of India.The company received a tax demand notice of Rs. 30,40,440. According to the company, the order has no financial impact. The company is currently responding to the notice within the stipulated timeframe.Below is a summary of the details related to the notice:ParticularsDescriptionAuthorityIncome Tax Department, Ministry of Finance, Government of IndiaNature of ActionDemand notice under...

Bain Capital Receives RBI Approval for Investment in Manappuram Finance Valapad, Kerala, March 18, 2026 – Manappuram Finance Limited announced today that its subsidiaries, Asirvad Micro Finance Limited (AMFL) and Manappuram Home Finance Limited (MHFL), have received approvals from the Reserve Bank of India (RBI) for indirect changes in control and management related to Bain Capital's investment.The approvals mark a key milestone in Bain Capital’s strategic investment, which totals approximately ₹4,385 crore. This investment will result in Bain Capital affiliates, BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, acquiring joint control of Manappuram Finance and its subsidiaries alongside the existing promoters.The...

Eastern Silk Industries Limited’s Offer for Sale Sees Unsubscribed Portion Reallocated to Retail Segment Mumbai – March 18, 2026 – Baumann Dekor Private Limited, promoter of Eastern Silk Industries Limited, announced today that a portion of the non-retail segment in the company's ongoing Offer for Sale (OFS) on the National Stock Exchange of India (NSE) will be reallocated to retail investors.As of the close of trading on March 18, 2026, only 39,263 out of 2,25,000 shares reserved for the non-retail segment were subscribed. In accordance with the terms of the OFS dated March 17, 2026, the unsubscribed portion is to be made available to retail investors on March 19, 2026.The re-allocation will make an additional 185,737 equity shares...

NMDC Limited Appoints Anurag Kapil as Director (Finance) Hyderabad, India – March 18, 2026 – NMDC Limited announced today the appointment of Anurag Kapil as Director (Finance). The appointment follows an order issued by the Ministry of Steel, Government of India.Anurag Kapil, currently serving as ED, Finance Expenditure, Railway Board (IRAS), will assume the role for a period of five years, commencing from his date of joining or until further notice.The Ministry of Steel’s order, reference number S14013/1/2024-BLA, formalized the appointment. This change to the Board composition is effective March 18, 2026.Pravin Shekhar, Company Secretary & Compliance Officer, confirmed the news.Source:

Physicswallah Ltd. Faces ₹263.34 Crore Tax Demand Physicswallah Limited announced today that it has received an assessment order and demand notice dated March 16, 2026, under Section 143(3) of the Income-tax Act of 1961.According to the notice from the Assessment Unit of the Income Tax Department, investments received during Assessment Year 2023-24 from investors, including SEBI-registered Category II AIF, have been treated as taxable income. This has resulted in a tax demand of ₹263.34 crore.The company stated that this demand notice is not expected to have a material impact on its financial position, operations, or business activities. Physicswallah Limited intends to file an appeal before the appropriate appellate authority...