Markets

JBF Industries Resolution Plan Rejected by NCLT JBF Industries Limited, currently under the Corporate Insolvency Resolution Process (CIRP), announced on March 18, 2026, that the Resolution Professional’s submitted Resolution Plan has been rejected by the National Company Law Tribunal (NCLT), Ahmedabad Bench.The NCLT orally pronounced the order rejecting the plan under Section 31 of the Insolvency and Bankruptcy Code, 2016. The matter has been referred back to the Committee of Creditors (COC).Mr. Mukesh Verma, Resolution Professional (Registration No: IBBI/IPA-001/IP-P01665/2019-2020/12522), conveyed the information.Source:

Kirloskar Industries Limited Updates on Subsidiary's Scheme of Arrangement and Merger Kirloskar Industries Limited announced that Kirloskar Ferrous Industries Limited (KFIL), a material subsidiary, has received an order from the National Company Law Tribunal (NCLT) Mumbai on March 17, 2026, regarding a scheme of arrangement and merger. This scheme involves the absorption of Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL), both wholly-owned subsidiaries, with Kirloskar Ferrous Industries Limited.The NCLT order directs dispensation from holding meetings of equity shareholders of OEPL, AESPL and KFIL, as well as meetings of unsecured creditors of OEPL and AESPL, and creditors of KFIL. It also...

Orchid Pharma Limited Receives Reserve Order for Dhanuka Laboratories Merger Orchid Pharma Limited has received a reserved order from the National Company Law Tribunal (NCLT) regarding the scheme of amalgamation with Dhanuka Laboratories Limited. The order was reserved for pronouncement on March 18, 2026.The amalgamation involves Dhanuka Laboratories Limited and Orchid Pharma Limited, along with their respective shareholders and creditors.Orchid Pharma Limited will provide updates to the National Stock Exchange of India Limited and the BSE Limited, as well as make the information available on the company’s website, upon receipt of the NCLT order.Manish Dhanuka, Managing Director of Orchid Pharma Limited, confirmed the development...

Suryoday Small Finance Bank Promoter Acquires 50,000 Equity Shares Suryoday Small Finance Bank Limited announced that Mr. Baskar Babu Ramachandran, the Promoter and Managing Director & CEO, purchased 50,000 equity shares through open market transactions. The acquisitions occurred in two phases: 14,000 shares on March 17, 2026, and 36,000 shares on March 18, 2026.Following this transaction, the total promoter and promoter group holding in the bank increased to 22.48%, up from 22.44%. Mr. Ramachandran’s individual holding now stands at 5.22%, an increase from 5.18%. The holding remains compliant with regulatory provisions and RBI pre-approved limits.A separate disclosure related to the Securities and Exchange Board of India...

NMDC Steel Limited Announces Appointment of Director (Finance) Nagarnar, Chhattisgarh, March 18, 2026 – NMDC Steel Limited announced the appointment of Shri Anurag Kapil as Director (Finance) on its Board, effective immediately. The appointment follows a communication from the Ministry of Steel, Government of India, dated March 18, 2026, through Order No. 14013/1/2024-BLA.Shri Anurag Kapil, currently ED (Finance) - Expenditure at the Railway Board, will serve as Director (Finance) for a period of five years or until further orders.The Ministry of Steel’s earlier order, dated March 20, 2023, stipulated that the Chairman and Managing Director, Functional Directors, and Government Directors of NMDC Limited will also serve in the same...

Petronet LNG Limited Reports Penalty Payment for Non-Compliance with Listing Regulations Petronet LNG Limited announced that it has paid a penalty related to non-compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information follows notifications received from the National Stock Exchange of India Limited and BSE Limited.The company received letters from the National Stock Exchange of India Limited, dated February 27, 2026, and from BSE Limited, via email dated February 27, 2026, regarding the non-compliance.The matter was subsequently reviewed by the Board of Directors during a meeting held on March 18, 2026, and the Board took note of the details.Source:

Euro Pratik Sales Limited Schedules Board Meeting to Consider Interim Dividend Euro Pratik Sales Limited (formerly Euro Pratik Sales Pvt. Ltd.) announced that a board meeting is scheduled for Monday, March 23, 2026. The meeting's agenda includes consideration of an interim dividend on the company’s paid-up equity shares for the financial year 2025-26.In accordance with the SEBI (Prohibition of Insider Trading) Regulations, the trading window for company securities is closed for directors and designated persons from Wednesday, March 18, 2026, and will remain closed until March 25, 2026, in relation to the proposed interim dividend declaration.Source:

Solara Active Pharma Sciences Limited Receives Income Tax Demand Notice Solara Active Pharma Sciences Limited announced on March 18, 2026, that it received a Notice of Demand under Section 156 of the Income Tax Act, 1961, from the Deputy Commissioner of Income Tax, Central Circle-3, Thane. The notice pertains to the assessment year 2019-20.The order, passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961, resulted in a Tax Demand of Rs. 161.92 Crores due to disallowance of certain expenses claimed by the Company in its Income Tax Return for Assessment Year 2019-20.The Company intends to file an appeal against the order before the concerned Appellate Authority. Solara Active Pharma Sciences believes it has...

Varun Beverages Limited Completes Acquisition of Twizza Proprietary Limited Varun Beverages Limited announced the completion of its acquisition of 100% of the share capital of Twizza Proprietary Limited on March 18, 2026. The acquisition was made through The Beverage Company Proprietary Limited, a subsidiary of Varun Beverages Limited in South Africa.The enterprise value for Twizza Proprietary Limited, post due diligence adjustments, is ZAR 2,053 million, equivalent to INR 11,398 million, based on an exchange rate of 5.55 INR per ZAR. As a result of the acquisition, Twizza Proprietary Limited has become a step-down subsidiary of Varun Beverages Limited, effective March 18, 2026.Previously, a detailed disclosure regarding this...

Crompton Greaves Consumer Electricals Receives Order from Income Tax Department Crompton Greaves Consumer Electricals Limited announced today that it has received an order from the office of the Assistant Commissioner of Income Tax, Circle-5(1)(1), Mumbai, concerning the assessment year 2019-20. The order pertains to a rectification application filed by the company.The total demand imposed, inclusive of interest, amounts to INR 4,21,07,197. The company is currently evaluating its response to the department, considering the merits of the matter, prevailing law, and advice from consultants.According to the order, the demand was raised against an alleged excess refund of tax. While the potential financial impact is quantified at INR...

Ugro Capital Ltd. Completes Acquisition of Datasigns Technologies Private Limited Ugro Capital Ltd. announced the completion of its acquisition of Datasigns Technologies Private Limited (MyShubhLife) on March 18, 2026. The acquisition involved the purchase of 100% of the shares of Datasigns Technologies Private Limited, as outlined in the Amended and Restated Share Purchase Agreement dated March 5, 2026.As a result of the acquisition, Datasigns Technologies Private Limited has become a wholly owned subsidiary of Ugro Capital Ltd., effective March 18, 2026. Ekagrata Finance Private Limited, a wholly owned subsidiary of Datasigns Technologies Private Limited, is now considered a subsidiary (step-down subsidiary) of Ugro Capital Ltd...

GAIL (India) Ltd. Acquires 49% Stake in Leafiniti Bioenergy Private Limited GAIL (India) Limited announced on March 18, 2026, the acquisition of a 49% equity stake in Leafiniti Bioenergy Private Limited (LBPL). LBPL operates a Compressed Bio Gas (CBG) plant with a capacity of 10.2 TPD of CBG located in Karnataka.LBPL’s turnover for the fiscal year 2024-25 was Rs. 28.42 crore. The acquisition, which involved a cash consideration, will not be classified as a related party transaction. GAIL's investment is intended to facilitate the establishment of new CBG projects through LBPL.The acquisition cost totaled Rs. 13,54,32,150, representing 1,35,43,215 equity shares at a face value of Rs. 10 per share. The transaction received concurrence...

Alkem Laboratories to Invest Up to INR 533 Crore in New Manufacturing Facility Alkem Laboratories Limited announced on March 18, 2026, that it has received an allotment letter from DMIC Vikram Udyogpuri Limited for land measuring approximately 30 acres in the Industrial Area DMIC Vikram Udyogpuri Limited, Phase-2, Ujjain, Madhya Pradesh. The land is intended for the establishment of a new greenfield formulations manufacturing facility.The company’s Board of Directors has approved an investment of up to INR 533 crores to be made in phases.Source:

NTPC Green Energy Limited Announces Commercial Operation of Solar Project Capacity NTPC Green Energy Limited announced the declaration of commercial operation for the fourth part capacity of its Khavda-II Solar PV Project. The project, located in Gujarat, added 165 MW to its capacity, bringing the total capacity of the fourth part to 165 MW out of the total 1200 MW. This expansion is attributed to NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Green Energy Limited.The commercial operation commenced at 00:00 hrs on March 19, 2026. With this addition, the total commercial capacity of the NTPC Green Energy Limited Group now stands at 9562.68 MW, increasing to 9727.68 MW overall.Source:

Brightcom Group Limited Reports Strong Financial Performance for Q3 FY26 Brightcom Group Limited (formerly Lycos Internet Limited) announced a total income of ₹2,231.89 Crores and a Profit After Tax of ₹310.60 Crores for the quarter ended December 31, 2025, representing year-on-year growth of 33.3% and 27.5% respectively. For the nine months ended December 31, 2025, the company’s total income was ₹5,331.28 Crores, with a Profit After Tax of ₹754.50 Crores.Key Highlights – Consolidated Financial Performance (Q3 FY26)MetricAmount (₹ Crores)Total Income2,231.89Profit Before Tax (PBT)446.87Profit After Tax (PAT)310.60Basic Earnings Per Share (EPS)1.54Revenue Growth (vs Q3 FY25)33.3%PAT Growth (vs Q3 FY25)27.5%...

Thomas Cook (India) Limited Receives Orders from Regulatory Authorities Thomas Cook (India) Limited announced receipt of orders from two regulatory authorities on March 18, 2026.Rectification Order Received from Maharashtra AuthorityThe company received a rectification order from the Deputy Commissioner, DIVISION III, Mumbai Central, Maharashtra, dropping a penalty of INR 2,80,175 imposed under Section 74 of the CGST Act 2017. No further steps are required.Order Received from Tamil Nadu AuthorityThomas Cook (India) Limited also received an order from the Commercial Tax Officer, Chennai Central, Tamil Nadu, confirming a demand on short payment of GST amounting to INR 16,13,449, applicable interest of INR 17,17,063, and a penalty...

Ugro Capital Limited Acquires 100% of Datasigns Technologies Private Limited Ugro Capital Limited announced the completion of its acquisition of Datasigns Technologies Private Limited (MyShubhLife) on March 18, 2026. The acquisition, initially disclosed on March 5, 2026, involved the purchase of 100% of the shares of Datasigns Technologies Private Limited through an Amended and Restated Share Purchase Agreement.As a result of this acquisition, Datasigns Technologies Private Limited is now a wholly-owned subsidiary of Ugro Capital Limited. Ekagrata Finance Private Limited, previously a wholly-owned subsidiary of Datasigns Technologies Private Limited, has consequently become a subsidiary of Ugro Capital Limited.The transaction was...

Nazara Technologies Acquires Stakes in Bluetile Games and Bestplay Systems Nazara Technologies Limited announced on March 18, 2026, that its wholly-owned subsidiary, Nazara Technologies UK Limited (Nazara UK), has received in-principle approval to acquire stakes in Bluetile Games, S.L. (Bluetile) and Bestplay Systems, S.L. (Bestplay).The acquisition includes 50.00049% of Bluetile’s share capital for a consideration of USD 88.4 million (INR ~809 crores), and 50.00033% of Bestplay’s share capital for a consideration of USD 11.9 million (INR ~109 crores). The Target Companies have demonstrated strong growth, with revenues growing from USD 50.1 million in calendar year 2023 to USD 153.6 million in calendar year 2025 on a combined basis...

Delta Corp Limited and Subsidiary Receive GST Notices Totaling Over INR 17.5 Billion Delta Corp Limited and its subsidiary, Highstreet Cruises and Entertainment Private Limited, have received notices under Section 74(1) of the CGST Act, 2017 and Goa GST Act, 2017 from the Office of the Commissioner of Commercial Taxes, Government of Goa, dated March 17, 2026, pertaining to the Financial Year 2022-23.The notices allege a tax shortfall totaling INR 17,52,38,53,312 . Delta Corp Limited faces a demand of INR 13,50,25,82,872 (Indian Rupees One Thousand Three Hundred and Fifty Crore Twenty Five Lakh Eighty Two Thousand Eight Hundred Seventy Two), while Highstreet Cruises and Entertainment Private Limited is notified of a demand for INR...

R Systems International Limited Launches EXIQO to Accelerate Agentic AI Integration Greater Noida, India; El Dorado Hills, CA, March 18, 2026 – R Systems International Limited, a global leader in digital product engineering, today announced the launch of EXIQO, an AI Studio designed to enable enterprises to scale production-grade agentic AI across business and technology functions.According to research commissioned by R Systems and produced by Everest Group, only 15% of enterprises have successfully operationalized agentic AI at scale, citing integration complexity, governance risks, legacy system constraints, and talent readiness gaps as barriers to enterprise-wide deployment."Mid-market enterprises are at an inflection point, with...