Markets

Maiden Forgings Ltd. Reaffirms Credit Rating with Crisil Maiden Forgings Limited announced on April 2, 2026, that it has received a reaffirmed credit rating of 'Crisil BBB/Stable' from Crisil Ratings Limited for its bank facilities. The rating pertains to a total bank loan facility of ₹42.5 crore.According to Crisil Ratings, the outstanding ratings for the company’s debt instruments and facilities are detailed below:Total Bank Loan Facilities RatedRs.42.5 CroreLong Term RatingCrisil BBB/Stable (Reaffirmed)A breakdown of the bank-wise facilities is presented in the following table:S.No.Bank FacilityBankAmount (Rs. in Crore)Outstanding Rating1Cash CreditAxis Bank Limited16.5Crisil BBB/Stable2Cash CreditBank of...

JSW Energy Receives Observations from BSE and NSE Regarding Scheme of Arrangement with GE Power India Limited JSW Energy Limited announced it has received observation letters from the BSE Limited and the National Stock Exchange of India Limited (NSE) regarding the Scheme of Arrangement between GE Power India Limited and JSW Energy Limited. The observations, dated April 1, 2026, were issued as required under Regulation 37 and 59A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.The company received the observation letter with "no adverse observations" from BSE and a “No objection” letter from NSE.The Scheme remains subject to receipt of applicable regulatory and other...

The Jammu & Kashmir Bank Limited Reports Provisional Business Figures for Fiscal Year 2026 The Jammu & Kashmir Bank Limited announced provisional business figures for the period ending March 31, 2026, demonstrating a significant year-over-year increase. Total business reached ₹290,341 crore, reflecting a 13.61% growth compared to ₹255,555 crore in the fiscal year 2025.Key highlights from the reported figures include:Total Deposits: Increased to ₹165,354 crore, an 11.30% rise year-over-year. CASA Deposits: Grew to ₹75,478.4 crore, an 8.07% increase. Gross Advances: Reached ₹124,987 crore, showing a substantial 16.83% growth. Gross Investment: Stood at ₹41,319.5 crore, a decrease of 1.55%.The figures were released in compliance...

Hariom Pipe Industries Receives Temporary Closure Order from Tamil Nadu Pollution Control Board Hariom Pipe Industries Limited announced April 2, 2026, that it has received closure directions from the Tamil Nadu Pollution Control Board (TNPCB) through the Electricity Board for a temporary shutdown of operations at its unit located in the SIPCOT Industrial Growth Centre, Perundurai, Erode District, Tamil Nadu.The company stated it has initiated steps to rectify the situation and restore operations as quickly as possible. To minimize potential sales impact, Hariom Pipe Industries will continue operations through its Telangana unit during the closure period.The company anticipates the closure will be temporary and will provide updates...

Thermax Ltd. Receives Assessment Order from Customs Authority Thermax Limited announced it has received an assessment order from the Office of the Principal Commissioner of Customs, Ahmedabad, on April 1, 2026.The order relates to a penalty demand of ₹1.52 crores plus applicable interest. The demand stems from customs duty and Integrated Goods and Services Tax (IGST) assessed against damage to plant and goods resulting from a fire incident at the company's SEZ facility in Dahej in 2020.Thermax stated it intends to file an appeal challenging the demand. The company believes this matter will have an impact on its financial and operational activities.Details of the Assessment OrderDetailParticularsAuthorityOffice of Principal...

SEBI Proposes Re-introduction of Open Market Buy-Backs Through Stock Exchanges The Securities and Exchange Board of India (SEBI) is seeking public comments on a proposal to re-introduce open market buy-backs of shares or other specified securities through stock exchanges. This move follows a period where this method was discontinued and comes amid changes to the taxation framework for buy-backs.Previously, the open market method for buy-back was discontinued effective April 1, 2025, due to concerns regarding equitable treatment of shareholders and the prevailing taxation framework. Under the prior method, there were concerns that the entire purchase order of a company could be matched with the sale order placed by one or a few...

Emami to Acquire Complete Stake in Axiom Ayurveda, Enters Beverage Sector Kolkata, April 2, 2026 – Emami Limited has executed a definitive agreement on April 1, 2026, to acquire the remaining stake in Axiom Ayurveda Pvt Ltd ('Axiom'), subject to customary closing conditions.The acquisition will be completed in a phased manner over the next three months. In the initial tranche, Emami acquired an additional ~36.7% stake, building on its existing ~26.5% stake. The total consideration for the acquisition is capped at Rs.200 crores.Axiom's portfolio includes beverage products under the brand 'AloFrut', health juices under the brand 'Axiom Jeevan Ras', and beauty products under the brand 'Mukti Gold'. AloFrut juices, featuring aloe vera...

Matrix Geo Solutions Limited Receives INR 5.14 Crore Order for Narmada Parikrama Survey Matrix Geo Solutions Limited has received a Letter of Acceptance from the Madhya Pradesh State Electronics Development Corporation Limited (MPSEDC) for a Narmada Parikrama Survey. The order, valued at INR 5,14,16,000, will be executed over a period of 30 months.The survey will utilize drones, aircraft, and helicopters to conduct aerial data acquisition along the Narmada River corridor, which spans approximately 1,312 kilometers. MPSEDC operates under the Department of Science and Information Technology, Government of Madhya Pradesh.The project reflects the increasing use of drone-based geospatial technology in state governance and planning...

SoftTech Launches India's First TDR Trading Exchange Platform-e-TDR Pune, April 2, 2026 – SoftTech Engineers Limited has launched e-TDR, India’s first unified digital platform for Transfer of Development Rights (TDR) transactions, in partnership with the Brihanmumbai Municipal Corporation (BMC) under the direction of the Urban Development Department (UDD), Government of Maharashtra. The platform serves over 18,000 registered developers and TDR owners in BMC.What is TDR? TDR is an urban planning mechanism allowing landowners to receive additional construction rights when land is acquired or surrendered for public purposes. This enables efficient land use and supports planned city development.About e-TDR e-TDR is an online platform...

Central Bank of India Reports Provisional Business Figures for Q4 FY 2025-26 Central Bank of India announced provisional business figures for the quarter ended March 31, 2026, indicating growth across key metrics. Total business reached ₹812814 crore, reflecting a year-over-year growth of 15.65% and a sequential increase of 5.00%.Total deposits stood at ₹467885 crore, up 13.37% year-over-year and 3.84% quarter-over-quarter. CASA deposits rose to ₹220886 crore, representing 9.80% year-over-year growth and 4.30% sequential growth. The CASA ratio improved to 47.31%.Gross advances amounted to ₹344929 crore, showing a year-over-year increase of 18.90% and a quarterly rise of 6.61%. The CD ratio reached 73.88%.Here's a summary of the...

Silverline Technologies Announces Platform Upgrade and Strategic AI Focus Silverline Technologies Ltd. (SILVERLINE) announced a scheduled platform maintenance and a strategic shift in its Artificial Intelligence (AI) branch on April 2, 2026.The company is undertaking a platform upgrade to address a recent surge in Daily Active Users (DAU), which increased by approximately 45%. The maintenance period is expected to last 24 to 72 hours, with services resuming with enhanced capacity and optimized performance.Silverline Technologies has also decided to strategically pivot the focus of its AI division. The AI branch will now concentrate on developing proprietary AI solutions in three key sectors: Cyber Warfare, Supply Chain Management...

New India Assurance Appoints Key Management Personnel Mumbai – April 2, 2026 – The New India Assurance Company Limited announced appointments to key management positions, effective April 2, 2026. The changes were made in accordance with SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.Ms. Mary Abraham has been appointed as Chief Risk Officer. Currently serving as General Manager, Ms. Abraham brings over 35 years of experience in the insurance industry, with a diverse background across various business lines. She holds an MBA in Finance and is a Fellow of the Insurance Institute of India.Mr. S. Dinakaran has been appointed as Chief Underwriting Officer. Also currently serving as General Manager, Mr. Dinakaran...

Zaggle Prepaid Ocean Services Ltd. Invests Nearly ₹50 Crore in Rivpe Technology Private Limited Zaggle Prepaid Ocean Services Limited announced an investment of ₹49,99,99,939.92 in Rivpe Technology Private Limited (RTPL) on April 2, 2026.The investment, as previously intimated in a letter dated December 4, 2025, resulted in the allotment of 3,42,147 equity shares with a face value of ₹10 each to Zaggle Prepaid Ocean Services Limited.The investment will not alter Zaggle’s ownership stake in RTPL, which remains a wholly owned subsidiary.Source:

Nuvama Wealth Management Ltd. Invests Rs. 100.00 Crores in Subsidiary Nuvama Wealth Management Ltd. announced an investment of Rs. 100,00,00,175 (Rupees one hundred crore and one hundred seventy-five only) through a subscription in the right issue of equity shares of Nuvama Wealth Finance Limited, a wholly-owned subsidiary of the company. The investment was approved on April 2, 2026.Nuvama Wealth Finance Limited ('NWFL') is a Systemically important non-deposit taking Non-Banking Finance Company. As of March 31, 2025, NWFL’s total revenue was Rs. 632.68 Crores, and its net worth stood at Rs. 900.70 Crores.The transaction, undertaken at an arm’s length basis, does not constitute a related party transaction according to SEBI (Listing...

KFin Technologies Receives Perpetual Certificate of Registration as Central Recordkeeping Agency KFin Technologies Limited announced on April 2, 2026, that it has received a Perpetual Certificate of Registration from the Pension Fund Regulatory and Development Authority (PFRDA) to act as a Central Recordkeeping Agency (CRA) under the National Pension System (NPS) architecture. The certificate supersedes previous registrations and remains valid unless suspended or canceled by the Authority.The registration is in accordance with the PFRDA (Central Recordkeeping Agency) Regulations, 2015, and allows KFin Technologies to continue providing recordkeeping services for the NPS.According to a summary of key elements provided in Form A, the...

Kothari Industrial Corporation Ltd. Receives Amendment to Service Contract with Integral Coach Factory Kothari Industrial Corporation Ltd. announced on April 2, 2026, that it has received an amendment to an existing service contract from Integral Coach Factory (ICF), Chennai, a unit of Indian Railways. The amendment involves an increase in the contract quantity from 100% to 125%, representing a 25% expansion.The revised total contract value is approximately ₹6.33 Crores, inclusive of Goods and Services Tax (GST). The contract period has been extended up to July 24, 2026. The original contract value was ₹5,06,43,224.85, with the quantity enhancement adding ₹1,26,60,806.21.Below is a summary of the contract details...

Orchid Pharma Ltd. Downgraded by CARE Ratings April 2, 2026 – Credit rating agency CARE Ratings Limited downgraded Orchid Pharma Limited’s Long Term Bank Facilities rating to CARE BBB+; Stable from CARE A- and removed it from Rating Watch with Developing Implications. The Short Term Bank Facilities rating was reaffirmed at CARE A2 and also removed from Rating Watch with Developing Implications.The downgrade reflects recent developments including the company's operational and financial performance for fiscal year 2025 (audited) and the nine-month period ending September 30, 2026. The rating action also considers the final order on the scheme of amalgamation being reserved for pronouncement by the National Company Law Tribunal (NCLT)...

Concord Biotech Acquires 100% Stake in Celliimune Biotech Concord Biotech Limited announced the completion of an acquisition of Celliimune Biotech Private Limited on April 2, 2026. The acquisition, completed on an arm’s length basis, will see Concord Biotech advance research in DNA engineering for cancer therapeutics and develop innovative alternatives to conventional chemotherapy.Celliimune Biotech Private Limited was incorporated on January 15, 2025, in India. The company’s authorized share capital is Rs. 12,00,000 divided into 12,00,000 equity shares of Rs. 10 each, with an issued share capital of Rs. 66,00,000 divided into 6,60,000 equity shares of Rs. 10 each. Celliimune Biotech has had Nil Turnover.Concord Biotech acquired...

Indian Bank Revises Treasury Bills Linked Lending Rates Indian Bank announced a revision to its Treasury Bills Linked Lending Rates (TBLR), effective April 3, 2026, according to a regulatory filing. The Asset Liability Management Committee (ALCO) reviewed existing rates and implemented the changes.The revised TBLR rates are detailed in the table below:TenorExisting Rate (%)Revised Rate (%)<= 3 months5.35%5.30%>3 months &<=6 months5.50%5.50%>6 months &<=1 year5.60%5.60%>1 year &<= 3 Years5.60%5.60%The bank confirmed that its Marginal Cost of Funds based Lending Rate (MCLR), Base Rate, Benchmark Prime Lending Rate (BPLR), Policy Repo Rate, and Repo Linked Benchmark Lending Rates (RBLR) remain unchanged.Current rates...

Monarch Networth Capital Receives SEBI Approval for Mutual Fund Business Mumbai, April 2, 2026 – Monarch Networth Capital Limited (MNCL) has received final registration from the Securities and Exchange Board of India (SEBI) to launch its mutual fund business through its subsidiary, Monarch Networth Asset Management Company. This approval marks a milestone in Monarch's development as a fully integrated financial services platform.The new mutual fund will operate under the name ‘Monarch Mutual Fund.’ Monarch Asset Management Private Limited, a wholly owned subsidiary of MNCL, has also received SEBI approval to act as the Asset Management Company (AMC) for ‘Monarch Mutual Fund.’India’s mutual fund industry has experienced significant...