Markets

State Bank of India to Sell Stake in SBI Funds Management Limited Through IPO State Bank of India announced on March 20, 2026, that SBI Funds Management Limited (SBIFML), a subsidiary, has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering (IPO). The IPO aims to offer up to 203,709,239 equity shares with a face value of Rs. 1 each, representing up to 10.0013% of SBIFML's paid-up equity share capital.The IPO includes an offer for sale of up to 128,334,397 Equity Shares by State Bank of India (6.3007% of SBIFML's paid-up equity share capital) and up to 75,374,842 Equity Shares by Amundi India Holding (3.7006% of SBIFML's paid-up equity share capital). The number of shares...

Bluspring Enterprises Limited to Acquire STEAG Energy Services (India) Private Limited Bluspring Enterprises Limited announced on March 20, 2026, that its wholly-owned subsidiary, Bluspring New Horizon One Private Limited, has entered into a Share Purchase Agreement with STEAG Energy GmbH and STEAG Energy Services (India) Private Limited for the acquisition of 100% of the paid-up share capital of STEAG Energy Services (India) Private Limited (SESI) on a fully diluted basis. Following the transaction, SESI will become a wholly-owned subsidiary of Bluspring Enterprises Limited. The agreement was executed on March 19, 2026.The acquisition is not considered a related party transaction, and no promoter, promoter group, or group companies...

Delhivery Appoints Neelam Dhawan as Board Chairperson, Announces Deepak Kapoor’s Departure Gurugram, India – March 19, 2026 – Delhivery Limited announced the appointment of Ms. Neelam Dhawan as a Non-Executive Independent Director, effective March 20, 2026. She will assume the role of Chairperson of the Board of Directors on April 1, 2026, succeeding Mr. Deepak Kapoor, who is stepping down after over eight years, a departure previously announced on January 31, 2026.“We are delighted to welcome Neelam Dhawan to the Delhivery Board as our Chairperson,” said Sahil Barua, MD & Chief Executive Officer, Delhivery. “Her exceptional track record in leading technology companies and experience as a seasoned Board Member will be invaluable as...

KFin Technologies Receives No-Objection for Promoter Group Reclassification KFin Technologies Limited announced on March 19, 2026, that it has received no-objection letters from the BSE Limited and the National Stock Exchange of India Limited regarding the reclassification of House of Anita Dongre Private Limited (HADPL) from the 'Promoter(s) Group' category to the 'Public' category.This reclassification means HADPL is no longer considered part of the 'Promoter(s) Group' for KFin Technologies. The company previously filed an application with the BSE and NSE for this reclassification.According to a summary of key elements disclosed in Form A, in compliance with Regulation 30(13) of the Securities and Exchange Board of India (Listing...

J.G.Chemicals Schedules Investor Meetings J.G.Chemicals Ltd. announced plans for an upcoming meeting with institutional investors. The meeting is scheduled to occur virtually on March 24, 2026.The company noted that the schedule is subject to change due to unforeseen circumstances. J.G.Chemicals emphasized that no unpublished price-sensitive information will be disclosed during the meeting.Source:

Artefact Projects Ltd. Secures DPR Project for Uttar Pradesh Road Augmentation Artefact Projects Ltd., a project management consultancy, engineering, and planning firm, has been awarded a project by the National Highways Authority of India (NHAI) for the preparation of a Detailed Project Report (DPR) related to the capacity augmentation of the Varanasi-Jaunpur-Sultanpur-Lucknow stretch in Uttar Pradesh. The project is being executed in association with Dhruv Consultants services limited.Artefact Projects Ltd. received a letter of award for the project. The contracted fees for the project total Rs. 3,94,88,232, exclusive of Goods and Services Tax (GST). The project is slated for completion within a timeframe of seven months.According...

Vibhor Steel Tubes Ltd. Receives New Work Order Worth Rs. 16.87 Crores Vibhor Steel Tubes Limited announced on March 19, 2026, that it has received a new work order from Agrawal Infracab Pvt Ltd for the supply of Transmission Towers. The order is valued at approximately Rs. 16.87 Crores.The work order, PO/AGINFRACAB/25-26/078 dated March 19, 2026, involves the supply of Transmission Towers by Vibhor Steel Tubes. Agrawal Infracab Pvt Ltd, a domestic entity, awarded the contract. Promoters, promoter groups, group companies, and related parties have no interest in Agrawal Infracab Pvt Ltd.ParticularsDetailsName of the entity awarding the order(s)/contract(s)Agrawal Infracab Pvt LtdNature of order(s)/contract(s)Transmission...

Praxis Home Retail Ltd. Receives Order from National Company Law Tribunal Praxis Home Retail Ltd. announced that the Hon’ble National Company Law Tribunal, Mumbai Bench, passed an order regarding an Interlocutory Application in Company Petition (IB) No. 865 of 2022, filed by Aegis Resolution Services Private Limited, the Resolution Professional of Ojas Tradelease and Mall Management Private Limited.The order, issued March 18, 2026, directs Praxis Home Retail Ltd. to hand over control and possession of a leased premises located at 'The Acropolis Mall' in Thaltej, Ahmedabad, within 30 days, and settle outstanding lease rentals.According to the NCLT order, the Lease Deed has been determined to be a transaction covered under Section 66...

Leo Dryfruits & Spices Trading Ltd. Enters Supply Agreement with Haldiram Leo Dryfruits & Spices Trading Limited announced on March 19, 2026, that its subsidiary, Vandu Food Processing Private Limited (VFPPL), has entered into a Supply Agreement with Haldiram Marketing Private Limited, effective March 19, 2026.Under the agreement, VFPPL will process and supply processed cashew nuts, related products, and other food products according to specifications and quality standards provided by Haldiram. The agreement involves the processing of raw cashew nuts into finished products, including broken cashew pieces and cashew powder.The agreement has a term of five years, renewable by mutual consent, and is considered to be in the ordinary...

Asahi India Glass Ltd. Responds to Trading Volume Inquiry Mumbai – March 19, 2026 – Asahi India Glass Limited (AIS) responded to a query from the BSE regarding a recent increase in trading volume of its securities. The BSE’s inquiry, referenced as L/SURV/ONL/PV/SG/2025-2026/986, sought clarification on the matter.AIS confirmed that all material information and price-sensitive details impacting the company's operations and performance have been disclosed in a timely manner, in accordance with the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.The company attributed the increased trading volume to higher intra-day trading activity in AIS stocks, based on data from the stock exchange. AIS stated that there are...

Praxis Home Retail Limited Receives Order from National Company Law Tribunal Praxis Home Retail Limited announced that the Hon’ble National Company Law Tribunal, Mumbai Bench, has issued an order concerning an Interlocutory Application in Company Petition (IB) No. 865 of 2022, filed by Aegis Resolution Services Private Limited, the Resolution Professional of Ojas Tradelease and Mall Management Private Limited.The order, dated March 18, 2026, directs Praxis Home Retail Limited to hand over control and possession of the leased premises located at 'The Acropolis Mall' in Thaltej, Ahmedabad, within 30 days. The company is also required to settle outstanding lease rental payments.The tribunal determined that the Lease Deed is a...

Motilal Oswal Financial Services Limited Settles Algo Platform Investigation with SEBI Mumbai – March 19, 2026 – Motilal Oswal Financial Services Limited announced today that it has settled an investigation initiated by the Securities and Exchange Board of India (SEBI) concerning its association with certain algorithmic (algo) platforms.SEBI previously observed that some algo platforms displayed strategies offering assured returns, and that certain SEBI-registered stock brokers, including Motilal Oswal Financial Services Limited, were associated with these platforms. The regulator's examination revealed that Application Programming Interfaces (APIs) of 122 stock brokers were integrated with platforms describing strategies with...

Kuantum Papers Limited Announces Management Changes Kuantum Papers Limited announced changes to its board of directors on March 19, 2026, following shareholder approval through a postal ballot process.Shri Munishwar Kumar has been redesignated from Non-Executive Director to Independent Director for a term of five years, commencing February 7, 2026, and expiring February 6, 2031. Kumar brings over 35 years of experience, including expertise in global biodegradable packaging and business development.Additionally, Shri Jagdeep Hira has been appointed as a Director and Whole Time Director for a period of three years, effective February 7, 2026. Hira possesses 31 years of experience in the specialty paper manufacturing and paper mill...

KFin Technologies Receives No-Objection for Promoter Group Reclassification KFin Technologies Limited announced today, March 19, 2026, that it has received no-objection letters from the BSE Limited and the National Stock Exchange of India Limited regarding the reclassification of House of Anita Dongre Private Limited (HADPL). HADPL was previously categorized as an entity forming part of the 'Promoter(s) Group.'The reclassification follows an application filed by KFin Technologies with both exchanges. As a result of this reclassification, HADPL no longer constitutes part of the 'Promoter(s) Group' category for the company.According to a summary provided in Form A, as per SEBI’s Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated...

Vardhman Polytex Limited Announces Board Decisions Including Fund Raising and Land Sale Vardhman Polytex Limited announced several key decisions following a board meeting held on March 19, 2026. The company approved a fundraising initiative involving the issuance of debt instruments and outlined plans for a land sale to augment funds for debt repayment and future growth.Fund Raising Initiatives The board approved the issuance of debt instruments through a private placement. This includes up to INR 35,00,00,000 in listed, secured, rated, redeemable Non-Convertible Debentures (NCDs) and up to INR 25,00,00,000 in unlisted, secured, redeemable, optionally convertible debentures (OCDs). The OCDs are convertible into equity shares at a...

Vibhor Steel Tubes Limited Receives New Work Order Valued at Rs. 16.87 Crores Vibhor Steel Tubes Limited announced on March 19, 2026, that it has received a new work order from Agrawal Infracab Pvt Ltd for the supply of Transmission Towers. The order is valued at approximately Rs. 16.87 Crores.The work order, PO/AGINFRACAB/25-26/078 dated March 19, 2026, involves the supply of Transmission Towers by Vibhor Steel.Key details of the order are summarized below:ParticularsDetailsName of entity awarding the order(s)/contract(s)Agrawal Infracab Pvt LtdNature of order(s)/contract(s)Transmission Towers- Vibhor Steel Make vide Purchase Order PO/AGINFRACAB/25-26/078 dated 19 th March 2026Order ValueApproximately Rs. 16.87 Crores...

JB Chemicals & Pharmaceuticals Receives Order from Tamil Nadu Tax Authority JB Chemicals & Pharmaceuticals Ltd. announced that it received an order from the State Tax Officer, Intelligence, Chennai, on March 18, 2026, at 7:23 pm. The order, issued under Section 74 of the Goods and Services Act, 2017, imposes a penalty of INR 80,81,126.The order alleges a reversal of tax liability related to differences between tax returns and company books for the period of April 2019 to March 2020.According to a company assessment, an appeal will be filed, and JB Chemicals anticipates a favorable outcome at the appellate level. The company does not reasonably expect the order to have a material financial impact.Source:

Shanthi Gears Limited Announces Departure of Chief Financial Officer Coimbatore, India – March 19, 2026 – Shanthi Gears Limited announced today the resignation of Mr. Ranjan Kumar Pati as Chief Financial Officer, effective at the close of business today. This follows a prior notification made on January 22, 2026, regarding the matter.Walter Vasanth P J, Company Secretary & Compliance Officer, confirmed the change.Shanthi Gears Limited is headquartered in Coimbatore, India, and operates from "C" Unit, Avinashi Road. The company’s stock code on the National Stock Exchange is SHANTIGEAR, and 522034 on the BSE Limited.Source:

5Paisa Capital Limited Receives Settlement Order from SEBI 5Paisa Capital Limited announced on March 19, 2026, that it received a Settlement Order from the Securities and Exchange Board of India (SEBI) under the 'Settlement Scheme for Association with Certain Algo Platforms, 2025'.The Settlement Order, dated March 17, 2026, and displayed on the SEBI website on March 18, 2026, relates to an examination by SEBI concerning Tradetron and other algo platforms. The examination focused on stock brokers whose Application Programming Interfaces (APIs) were integrated with these platforms, which were observed to be displaying or marketing strategies indicating assured or consistent returns. This association was considered an alleged violation...

DCM Shriram Receives ITAT Order in Tax Litigation Case DCM Shriram Ltd. announced on March 19, 2026, that it received an order from the Income-tax Appellate Tribunal (ITAT) in New Delhi regarding assessment year 2021-22. The ITAT adjudicated a case related to Section 143(3) read with Section 144C(13).The ITAT order involved a tax effect of 12.20 rupees, with a relief granted of 9.79 rupees, resulting in matters referred back to the Assessing Officer amounting to 2.41 rupees.The company noted that the order has no material impact on its profit and loss. DCM Shriram also referenced an earlier, separate case involving unwarranted additions of 238.02 crore rupees, with a tax effect, that was referred to the Assessing Officer for...