Markets

VA Tech Wabag Secures EIB-Funded Wastewater Treatment Plant Project in Georgia Chennai, March 20, 2026 : VA TECH WABAG ('WABAG') has been awarded a consortium contract from United Water Supply Company of Georgia LLC ('UWSCG') for the construction of a 19 Million Litres Per Day (MLD) Wastewater Treatment Plant ('WWTP') in Georgia. The project, funded by the European Investment Bank ('EIB'), will develop a state-of-the-art wastewater and sludge treatment facility at Kutaisi. The WWTP is designed for future expansion up to a capacity of 56 MLD.WABAG, as the Consortium Leader, will undertake design, engineering, supply, installation, and commissioning of the treatment systems, along with training of client personnel and supervision of...

NMDC Steel Limited Appoints Krishna Kumar Thakur as Director (Personnel) NMDC Steel Limited announced the appointment of Shri Krishna Kumar Thakur as Director (Personnel) to its Board, effective March 19, 2026. The appointment follows an order from the Ministry of Steel (MoS), Government of India, dated March 17, 2026, and an earlier order dated March 20, 2023. Thakur’s tenure is for a period of five years or until further orders. His Director Identification Number (DIN) is 10172666.Shri Thakur, aged 52, previously served as Director (Human Resources) at Bharat Heavy Electricals Limited (BHEL) from July 4, 2023. He is a 1998 batch officer of the Indian Railway Personnel Service (IRPS) and holds a Post-Graduate Diploma in Management...

AVG Logistics Ltd. Responds to Share Price Movement AVG Logistics Ltd. stated that recent fluctuations in the company's share price are primarily due to broader market conditions and macroeconomic uncertainties. The company made this announcement in response to a query received on March 19, 2026, from the National Stock Exchange of India.According to the company, the movement in share price is entirely market-driven. AVG Logistics Ltd. confirmed that there is no unpublished price-sensitive information or pending announcement that would impact the company’s share price or trading volume.Sanjay Gupta, Managing Director, signed the communication. The company reiterated its commitment to complying with regulatory requirements and...

Infosys Establishes Subsidiary in Australia to Expand Business Services Infosys Ltd. announced the incorporation of a step-down wholly owned subsidiary, Infosys Enterprise Business Services Pty. Ltd., in Australia. The announcement follows a previous communication on March 18, 2026.The new subsidiary, incorporated on March 19, 2026, has a share capital of AUD 10 and is operating in the Information Technology and Information Technology enabled Services sector.Infosys Singapore Pte. Ltd., a step-down wholly-owned subsidiary of Infosys Limited, holds 100% of the shareholding in Infosys Enterprise Business Services Pty. Ltd. The transaction does not constitute a related party transaction.The incorporation of the subsidiary is not...

Asgard Alcobev Limited Appoints Ronak Jain as Managing Director Asgard Alcobev Limited, formerly known as Banganga Paper Industries Limited, announced the appointment of Mr. Ronak Jain as Managing Director, effective March 19, 2026. Mr. Jain brings over 15 years of experience in the liquor and beer industry, spanning manufacturing, packaging, distribution, corporate strategy, business expansion, operational efficiency, and financial management. He is set to drive the company's strategic realignment and long-term growth.Simultaneously, the company strengthened its leadership team with the appointments of Ms. Priyanka Jain as Additional Director (Non-Executive) and Chief Financial Officer (CFO) & Finance Director, and Mr. Binit...

Adani Power Expresses In-Principle Interest in Jaiprakash Associates Resolution Plan Adani Power Ltd. has conveyed its in-principle interest in becoming an Implementing Entity for the resolution plan of Jaiprakash Associates Limited (JAL). The announcement follows the approval of a resolution plan submitted by Adani Enterprises Limited by the Hon'ble National Company Law Tribunal, Allahabad bench, Prayagraj, on March 17, 2026. The order was subsequently uploaded to the Hon'ble NCLT website on March 18, 2026.The approved resolution plan allows Adani Enterprises Limited to designate Implementing Entities to carry out the plan or portions thereof, which involves acquiring assets from JAL. Adani Power's potential involvement would focus...

GeeCee Ventures Ltd. Completes Conversion of Bharti Airtel Shares GeeCee Ventures Limited announced the completion of a conversion related to its investment in Bharti Airtel Limited (BAL) on March 20, 2026. The company, which holds 2,30,976 party paid-up equity shares of BAL, remitted Rs. 9,26,79,120 towards the first and final call notice issued by BAL. This payment, at Rs. 401.25 per share, converted the partly paid-up equity shares into fully paid-up equity shares.The Special Committee of Directors for Rights Issue of BAL approved this conversion. The converted shares now rank pari passu with existing fully paid-up equity shares. BAL notified the approval for conversion to the Bombay Stock Exchange (BSE) and the National Stock...

Artson Ltd. Receives Rs. 42.22 Crore Order from Anuppur Thermal Energy Artson Ltd. announced today, March 20, 2026, that it has received an award for Rs. 42.22 Crores from Anuppur Thermal Energy (MP) Pvt. Ltd. The order, awarded to the company’s domestic subsidiary, encompasses the supply, fabrication, testing, painting, packing, forwarding, loading, transportation including transit insurance of prefabricated steel structures for CHP on a DAP site basis.The contract is structured as an item rate order with a six-month execution period. The award does not involve any related party transactions and no promoters, promoter groups, or group companies have an interest in Anuppur Thermal Energy.S. No.ParticularsResponse1Name of the...

Welspun Corp Limited Acquires 45% Stake in Welspun Corporate Services Limited Welspun Corp Limited announced the acquisition of a 45% stake in Welspun Corporate Services Limited (WCSL), formerly known as Welspun Home Textiles Limited, for a consideration of Rs. 45,000. The acquisition will be completed by March 31, 2026. The remaining 55% stake will be acquired by other Welspun Group entities.WCSL is being positioned as a centralized corporate services platform for Welspun Group entities, offering services including human resources, legal, regulatory and compliance, taxation, corporate restructuring, mergers and amalgamations, strategic advisory, and other corporate services. The acquisition is intended to support the establishment...

RNIT AI Solutions Limited Receives Multiple Work Orders from Telangana Government RNIT AI Solutions Limited (NSE: 517286) announced on March 20, 2026, that it has received multiple work orders from Telangana Technology Services Limited (TGTS), a Government of Telangana undertaking. The work orders are for the implementation and maintenance of AI-based Facial Recognition Attendance Management Systems.These orders pertain to deployment of the solution for the Government Higher Education Department across the State of Telangana, covering the State Board of Technical Education and Training (SBTET), Collegiate Education Department, and ITI institutions. The project spans a period of three years.The company stated this engagement...

JSW Cement Commissions New Integrated Cement Plant in Rajasthan JSW Cement Limited has successfully commissioned a greenfield integrated cement plant in Nagaur, Rajasthan, marking the company's entry into the North Indian market. The plant features a cement grinding capacity of 2.5 MTPA and a clinkerisation capacity of 3.3 MTPA.The commissioning of the new facility has increased JSW Cement’s total grinding capacity to 24.1 MTPA. The company’s total clinker manufacturing capacity, including its joint venture JSW Cement FZC, now stands at 9.74 MTPA.The information is available on the company website at www.jswcement.in.Source:

Amber Enterprises to Invest Approximately Rs. 296.02 Crore in Subsidiary IL JIN Electronics Amber Enterprises India Limited announced on March 19, 2026, that it has approved an investment of approximately Rs. 296.02 crore in IL JIN Electronics (India) Private Limited, a material subsidiary. This investment will be made through a subscription to IL JIN’s rights issue.IL JIN Electronics is a leading provider of high-precision Electronics Manufacturing Services (EMS) serving sectors including automotive, smart electronics, consumer durables, telecom, healthcare, industrial, renewable energy, aerospace, and defence. The company’s registered office is located in Pune, Maharashtra.Financial Details of IL JIN Electronics:ItemDetails...

Archean Chemical Industries Limited Approves Merger of Subsidiaries March 20, 2026 – Archean Chemical Industries Limited announced that its Board of Directors has approved the merger of its wholly-owned subsidiary, Idealis Chemicals Private Limited (ICPL), with its wholly-owned subsidiary, Idealis Mudchemie Private Limited (IMPL). The merger will be implemented in accordance with the Companies Act, 2013, the Income Tax Act, 1961, and other applicable laws.ICPL, incorporated on October 5, 2023, is involved in the manufacturing of various chemical products. IMPL provides services including drilling, work over, geological surveys, pipeline construction, and mud engineering. Both companies have registered offices located at No. 2, North...

IREDA Board Approves Enhanced Borrowing Plan and Resource Mobilization Program Indian Renewable Energy Development Agency Limited (IREDA) announced on March 19, 2026, that its Board of Directors has approved an enhancement to its borrowing plan for the fiscal year 2025-26, raising the limit from up to ₹30,800 Crore to up to ₹35,800 Crore. The borrowing will be sourced through various instruments, including taxable bonds, subordinated Tier-II bonds, perpetual debt instruments, term loans, lines of credit, and external commercial borrowings.Furthermore, the Board approved a market borrowing program of up to ₹40,000 Crore for the fiscal year 2026-27, excluding funds raised under Extra Budgetary Resource (EBR). This program encompasses a...

GMR Power and Urban Infra Announces Subsidiary Formation for Renewable Energy Initiatives GMR Power & Urban Infra Limited announced the incorporation of GMR Andhra Pradesh Renewable Energy-I Limited (GAPREL) as a wholly-owned subsidiary of its subsidiary, GMR Energy Limited. The new entity was incorporated on March 19, 2026, and has a current paid-up capital of Rs. 5 lakh.GAPREL is intended to explore business opportunities in the renewable energy sector. The company noted that GAPREL is yet to engage in active business operations.The incorporation does not constitute a related party transaction, and the promoter/promoter group/group companies of GMR Power & Urban Infra Limited do not have any interest in GAPREL beyond its...

Patel Retail Limited Updates Investors at Meetings Mumbai, India – March 20, 2026 – Patel Retail Limited announced it held one-on-one and group meetings with several investors on Wednesday, March 18, 2026. The interactions, conducted online, included discussions with Prudent Equity Private Limited, Sapphire Capital, Hornic Investment, Family Investments, Counter Cyclical Investments, and a group of High Net Worth Individuals (HNIs).The company stated that management discussions during the investor meetings were based on publicly available information and no unpublished price-sensitive information was disclosed.Sr.noCompany/Institution/Analysts/ OrganizationMode of Meeting1Prudent Equity Private limitedonline2Sapphire...

ICICI Lombard General Insurance Company Acquires Shares in HDFC Bank Limited Mumbai – March 20, 2026 – ICICI Lombard General Insurance Company Limited announced that its investment function acquired shares in HDFC Bank Limited in multiple tranches over a period of time. As of March 19, 2026, the company’s cumulative holding in HDFC Bank Limited stands at 0.05%.HDFC Bank Limited, incorporated on August 30, 1994, is India’s largest private sector bank. The bank provides a wide range of banking services including commercial, investment, and retail banking. As of March 19, 2026, HDFC Bank Limited’s market capitalization was ₹ 12.31 trillion.The acquisition of shares is being made in the ordinary course of the company's investment...

Windsor Machines Limited Receives NCLT Approval for Amalgamation of Global CNC Private Limited March 19, 2026 – Windsor Machines Limited announced that the National Company Law Tribunal (NCLT), Ahmedabad Bench, has sanctioned the Scheme of Amalgamation between Global CNC Private Limited, a wholly-owned subsidiary of Windsor Machines Limited, and Windsor Machines Limited, along with their respective shareholders and creditors.The Scheme, which has an Appointed Date of April 1, 2025, was listed for pronouncement of order on March 19, 2026. The NCLT order has been uploaded on the NCLT website.Global CNC Private Limited has a registered office at Survey No 1148, Village-Chibhda, Sub-District-Lodhika, District-Rajkot, Gujarat-360035...

HCL Technologies Releases Guarantee on USD 500 Million Senior Notes HCL Technologies Limited announced the full repayment of outstanding senior notes issued by its wholly owned step-down subsidiary, HCL America Inc. The notes, initially valued at USD 500 million and issued in March 2021, carried a guarantee from HCL Technologies.HCL America Inc. repaid the remaining balance of USD 252.207 million on March 10, 2026. Previously, in February 2023, the company bought back and cancelled USD 247.793 million worth of the notes.With the outstanding notes now fully repaid, the unconditional and irrevocable guarantee provided by HCL Technologies has been released by the Trustee of the notes.Source:

CarTrade Tech Limited Issues Corrigendum for Share Allotment CarTrade Tech Limited announced a corrigendum to its previous notification regarding the allotment of 35,100 equity shares under employee stock option schemes (ESOPs) dated March 13, 2026. The correction addresses an inadvertent omission of the Employee Stock Option Plan 2015 in the original filing.The company clarified that while the number of shares allotted was accurate in the initial notification, the corrigendum provides comprehensive details regarding the ESOP Schemes and aligns with the requirements of Regulation 10(c) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.Detailed information pertaining to the Employee Stock Option Plan 2010...