Markets

Reliance Industries Faces Customs Order, Plans Appeal Reliance Industries Limited announced it received an order from the Additional Commissioner of Customs, Mundra, levying a redemption fine and penalty totaling Rs. 17,06,958. The order, dated March 16, 2026, alleges the company discharged a lesser customs duty due to the incorrect classification of imported goods in a Bill of Entry.The company received the order via email on March 17, 2026, at 09:49 a.m. (IST). Reliance Industries intends to file an appeal against the order.The financial impact of the order is limited to the levied redemption fine and penalty amount. According to the company, the order has no impact on its operations or other activities.Source:

Acme Solar Holdings Limited Announces Further Wind Power Project Commissioning Acme Solar Holdings Limited announced the commissioning of an additional 8 megawatts (MW) of capacity at its wind power project, bringing the total commissioned capacity to 84 MW out of the total 100 MW project. The project is located at Village: Titoda, Taluka: Sayla, Dist: Surendranagar, Gujarat, and is managed by ACME Eco Clean Energy Private Limited, a subsidiary of Acme Solar Holdings Limited.The commissioning was confirmed by officials from Gujarat Energy Development Agency ('GEDA') and Paschim Gujarat Vij Company Limited ('PGVCL'). A formal certificate is expected to be issued shortly. This update follows previous announcements dated October 17...

BF Utilities Limited Appoints Independent Woman Director, Addresses NSE Compliance Concerns BF Utilities Limited (BFUL) announced on March 17, 2026, that it has appointed an Additional, Non-Executive Independent Woman Director to the company. The appointment, recommended by the Nomination and Remuneration Committee, is for a period of three consecutive years, effective March 17, 2026, to March 16, 2029, and is subject to shareholder approval via postal ballot.The move comes after the company addressed concerns raised by the National Stock Exchange of India (NSE) regarding non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically related to the composition of the...

Prithvi Exchange Receives In-Principle Approval from Visa for Forex Card Launch Prithvi Exchange (India) Limited announced it has received an In-Principle Approval from Visa for the launch of its Forex Card program. This development is part of the company’s product and digital expansion strategy.The approval indicates Visa's preliminary validation of Prithvi Exchange’s compliance framework, operational readiness, and customer onboarding processes. The company can now move towards rollout, subject to completion of final requirements for the BIN sponsorship model of issuance.The proposed Forex Card is intended to provide a secure and convenient payment solution for travelers, students, and corporations. It is designed to strengthen...

SBI Life Insurance Allots Equity Shares Under Employee Stock Option Scheme SBI Life Insurance Company Limited announced the allotment of 75,325 equity shares following the exercise of vested options under the 'SBI Life Employee Stock Option Scheme 2018'. The decision was approved by the Board’s Stakeholders' Relationship & Sustainability Committee on March 17, 2026.The allotment increases the company's paid-up share capital to Rs. 10,03,09,21,210, comprised of 100,30,92,121 equity shares with a face value of Rs. 10 each.Further details regarding the allotment are available on the company website at https://www.sbilife.co.in/.Source:

Madhav Bansidhar Shriram Acquires Significant Stake in DCM Shriram International Ltd. DCM Shriram International Ltd. announced that Madhav Bansidhar Shriram, acting as a Person Acting in Concert (PAC), has significantly increased their shareholding in the company. The acquisition occurred off-market on March 13, 2026.According to filings, Madhav Bansidhar Shriram’s holding increased by 4,643,075 shares, representing a 5.34% stake in the company. Prior to the acquisition, Madhav Bansidhar Shriram held 4,299,224 shares, equating to 4.94% of the total share/voting capital and 4.94% of the total diluted share/voting capital. Following the acquisition, Madhav Bansidhar Shriram’s total shareholding stands at 8,942,299 shares, representing a...

Unitern Revives Parth Gardenia Project Through DaaS Model, Targets INR 300 Crore Launch Mumbai, India, March 17, 2026 – Arisinfra Solutions Limited (ARIS | 544419 | INE0H9P01028) announced that ArisUnitern RE Solutions Pvt Ltd. (Unitern) has successfully revived the stalled Parth Gardenia project in Bengaluru utilizing its Developer-as-a-Service (DaaS) platform. The project is being transformed into a high-value residential development.The project, previously facing financial leverage and regulatory delays, has undergone a turnaround in under 12 months through Unitern's comprehensive strategy. Unitern collaborated with the project promoter to achieve financial closure, secure all regulatory approvals including RERA, and implement...

HEG Limited Receives Dismissal of Show Cause Notice Regarding IGST Refunds HEG Limited announced on March 17, 2026, that the Office of the Deputy Commissioner (SGST) in Mandideep, Bhopal, has dropped a show cause notice related to the tax period FY 2019-20. The notice, previously issued in November 2025, had proposed a recovery of IGST refunds along with a penalty amounting to Rs. 282.34 Crores. The GST authority dropped the proceedings under Section 74 of the MPGST Act 2017 read with section 74 of CGST Act 2017, based on information available on record.The company noted that this development has no impact on its financial, operational, or other activities. The show cause notice related to the tax period FY 2020-21 remains pending...

Strides Strengthens its Africa Business with Acquisition of Generic Brands from Sandoz Bangalore, India, March 17, 2026 – Strides Pharma Science Limited (Strides) announced that its step-down subsidiary, Strides Pharma International AG (SPIAG), has entered into definitive agreements with Sandoz AG and its group entities for the acquisition and in-licensing of a portfolio of branded generic products across Sub-Saharan Africa (SSA).The agreement spans four key markets: Western Sahara, Ghana, Nigeria, and Kenya, encompassing brands across anti-infective, cardiovascular, and dermatology therapeutic segments. Several products individually deliver annual sales exceeding US$1 million.The transaction includes both fully acquired products...

Exato Technologies Ltd. Secures Export Orders from Diligenta Limited Valued at USD 121,700 Exato Technologies Ltd. announced on March 17, 2026, that it has received two export orders from Diligenta Limited, based in Peterborough, England. The orders are for the supply of CXone Mpower Omnichannel, WFM and EEM licenses, as well as related Software Services.The total value of the orders is USD 121,700 (United States Dollars One Lakh Twenty-One Thousand Seven Hundred Only), excluding applicable taxes, duties, levies, or other government-imposed charges.According to a company statement, this development reflects Exato Technologies’ technical expertise and focus on delivering software and technology-driven solutions.CXone Mpower...

Thomas Cook India to Consider Corporate Restructuring Proposal Thomas Cook (India) Ltd. announced that a meeting of its Board of Directors will be held on Friday, March 20, 2026, to consider and approve a corporate restructuring proposal and streamline the company’s existing capital structure.The announcement was made on March 17, 2026.Trading window for designated persons and their immediate relatives has been closed from March 18, 2026, and will remain closed until March 22, 2026, in accordance with the company's policy on prevention of insider trading.Thomas Cook (India) Ltd. is headquartered in Mumbai. The company provides foreign exchange, business travel, MICE, and value-added services.BSE Scrip Code: 500413 NSE Scrip...

NHPC Limited Announces Commercial Operation of Subansiri Lower HE Project Unit #1 NHPC Limited declared the Commercial Operation (CoD) of Unit #1 (250 MW) of the Subansiri Lower Hydro Electric Project, a 2000 MW (8 x 250 MW) project located in Assam/Arunachal Pradesh, starting at 00:00 hours on March 20, 2026.This announcement follows previous updates on the project’s progress dated October 5, 2023, October 13, 2023, May 22, 2024, August 20, 2024, October 22, 2024, December 26, 2024, May 26, 2025, June 30, 2025, October 10, 2025, December 3, 2025, December 18, 2025, December 21, 2025, and January 30, 2026.With the commissioning of Unit #1, a total of three units – Unit #1, Unit #2, and Unit #3 – within the Subansiri Lower HE Project...

Coforge Limited Appoints Rajan Khattar as Senior Management Personnel Coforge Limited announced the appointment of Rajan Khattar as a Senior Management Personnel, effective March 16, 2026. Khattar joined the company as Executive Vice President and Business Head.According to company information, Khattar holds a bachelor’s degree in Engineering and is an alumnus of the strategic management program from the Indian Institute of Management, Calcutta. He is based in the San Francisco Bay Area and brings over 25 years of experience in sales and business leadership within the global IT services and technology consulting industry. Prior to joining Coforge, Khattar held senior leadership positions at other global IT services firms...

Clean Max Enviro Energy Solutions Reports 33% EBITDA Growth in First Nine Months of FY 2026 Mumbai, India – March 2026: Clean Max Enviro Energy Solutions Limited ('CleanMax') announced key operational and financial performance for the first nine months of Fiscal Year 2026, reflecting growth in capacity addition, contracted portfolio, and profitability.As of March 1, 2026, CleanMax has a total contracted energy sales capacity of 5.7 GW, compared to 1.75 GW as of April 1, 2024, 4.4 GW as of April 1, 2025, and 5.5 GW as of December 31, 2025. Of this, 3.0 GW is currently commissioned, representing a 76% growth from 1.7 GW at the start of the fiscal year. During the first 11 months of Fiscal 2026, the company commissioned 1.3 GW of new...

Arrow Greentech Ltd. Receives Demand Order for Rs. 1.80 Crores from Income Tax Department March 17, 2026 – Arrow Greentech Ltd. announced today that it has received a demand order from the Income Tax Department regarding a penalty order issued under Section 270(A) of the Income Tax Act, 1961, for the assessment year 2017-18. The demand order requires the company to pay a penalty of Rs. 1.80 crores.The penalty stems from a dismissal of an appeal under Section 250 against disallowances of certain expenditures and deductions claimed under various provisions of the Income Tax Act. Arrow Greentech Ltd. received the demand order on March 16, 2026.According to the company, the demand order is not expected to have a material impact on its...

Excelsoft Technologies Limited Announces Resignation of Independent Director Excelsoft Technologies Limited announced that Mr. Doreswamy Palaniswamy, an Independent Director, has resigned from his position, effective March 17, 2026. Mr. Palaniswamy's resignation is to pursue a challenging executive position outside the organization.As a consequence of his resignation, Mr. Palaniswamy also ceases to be a member of the Audit Committee and the Nomination & Remuneration Committee of the Company.The Board of Directors expressed appreciation for Mr. Palaniswamy’s contributions and guidance during his tenure.Mr. Palaniswamy confirmed that there are no other material reasons for his resignation. He served as an Independent Director since...

Agro Phos India Limited Enters Marketing Arrangement with Rashtriya Chemicals and Fertilizers Limited Agro Phos India Limited announced on March 17, 2026, that it has entered into a Memorandum of Understanding (MoU) with Rashtriya Chemicals and Fertilizers Limited (RCF). The agreement facilitates a marketing arrangement for certain products manufactured by Agro Phos India Limited.The MoU outlines the distribution of Single Superphosphate (SSP) manufactured by Agro Phos India Limited through RCF’s distribution network in the states of Maharashtra and Uttar Pradesh. The arrangement covers aspects such as supply, order management, quality compliance, pricing, and payment mechanisms. The agreement is valid from March 17, 2026, to June 1...

Sasken Technologies Limited Pays Fine to Stock Exchanges Sasken Technologies Limited announced on March 17, 2026, that it has paid a fine of Rs. 11.28 lakhs plus GST to the BSE Limited and National Stock Exchange of India Limited (NSE). The fine was levied for non-compliance with Regulation 17(1) & 20(2) / (2A) of the Listing Regulations.According to a filing, the company received the order from the stock exchanges on March 16, 2026. Sasken Technologies Limited stated that the action will have no impact on its financial, operational, or other activities, quantifiable in monetary terms.The company remitted the penalty amount by the stipulated timeline, March 16, 2026. Sasken Technologies Limited expressed concern that its request for...

NMDC Limited Appoints Krishna Kumar Thakur as Director (Personnel) NMDC Limited announced the appointment of Krishna Kumar Thakur as Director (Personnel) effective March 17, 2026. The appointment follows an order issued by the Ministry of Steel, Government of India.Krishna Kumar Thakur, who currently serves as Director (HR) at Bharat Heavy Electricals Limited (BHEL), will hold the position for a five-year term or until further orders. His Director Identification Number (DIN) is 10172666.The appointment was made in accordance with Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.Pravin Shekhar, Company Secretary & Compliance Officer at NMDC Limited...

Heritage Foods Limited’s Independent Directors Review Key Business Developments Heritage Foods Limited announced on March 17, 2026, that its Independent Directors convened a meeting to review key business developments, operational performance, and strategic initiatives. The meeting also addressed matters concerning governance, regulatory compliance, and the company’s overall functioning. The Directors provided guidance on the affairs of the company during the meeting.Uma Kanta Barik, Company Secretary and Compliance Officer, M. No: FCS-6317, signed off on the communication.Source: