Markets

Hemant Surgical Industries Ltd. Enters into Agreement with Sonomed Escalon for Manufacturing Hemant Surgical Industries Ltd. announced on April 1, 2026, an agreement with Sonomed Escalon, USA, a global leader in ophthalmic diagnostic imaging. The strategic Semi Knocked Down (SKD) Manufacturing Agreement will enable Hemant Surgical Industries Ltd. to undertake SKD manufacturing and localize 100% of manufacturing in India for ophthalmic ultrasound diagnostic devices.Under the terms of the agreement, Sonomed Escalon will supply components in SKD form at a preferential "Transfer Price." This price excludes taxes, duties, customs, statutory levies, and shipping unless otherwise agreed.Hemant Surgical Industries Ltd. confirmed that...

Welspun Corp Limited Delays Acquisition of Stake in Welspun Mauritius Holdings Limited Welspun Corp Limited announced a delay in the acquisition of a 2.57% equity stake in Welspun Mauritius Holdings Limited (WMHL), a subsidiary of the company. The acquisition, initially expected to be completed by March 31, 2026, is now anticipated to be finalized on or before September 30, 2026.The delay is attributed to ongoing procedural and transactional formalities. Upon completion, WMHL will become a direct wholly-owned subsidiary of Welspun Corp Limited. The objective of the acquisition is to streamline the company's overseas holding structure. The transaction, involving a wholly-owned subsidiary, will not impact the consolidated financials...

Rallis India Appoints Rashmi Joshi as Additional Director Rallis India Limited announced the appointment of Ms. Rashmi Joshi (DIN:06641898) as an Additional Director, serving in an Independent capacity. The appointment was approved by the Board of Directors on March 31, 2026, following a recommendation from the Nomination and Remuneration Committee.Ms. Joshi's term begins April 3, 2026, and extends for an initial period of five years, concluding on April 2, 2031, pending shareholder approval.Ms. Joshi is a Chartered Accountant and Company Secretary with over three decades of experience in diverse sectors, including Fast-Moving Consumer Goods, pharmaceuticals, and lubricants. She previously served as Executive Director and Chief...

NMDC Limited Appoints Anurag Kapil as Director (Finance) and CFO NMDC Limited announced the appointment of Shri Anurag Kapil as Director (Finance) effective March 31, 2026. This change follows an order from the Ministry of Steel, Government of India, dated March 18, 2026. Shri Kapil’s appointment is for a period of five years or until further orders.As Director (Finance), Shri Kapil will also serve as the company’s Chief Financial Officer (CFO) and Key Managerial Person (KMP). Smt. G Anupama, previously the CFO and KMP, has ceased to hold these positions effective March 31, 2026.Shri Anurag Kapil, an Indian Railway Accounts Service (IRAS) officer, brings over 26 years of experience across Indian Railways and Central Public Sector...

Adani Ports and Special Economic Zone Ltd. Surpasses 500 Million Tonnes Cargo Milestone Ahmedabad, 1 April 2026: Adani Ports and Special Economic Zone Ltd. (APSEZ), India's largest integrated transport utility and the nation's leading port developer and operator, announced today that it has surpassed a milestone of 500 million tonnes of cargo handled.This achievement marks a defining moment in APSEZ's evolution and underscores the growing strength of India's infrastructure-led transformation. The company has grown into a critical enabler of India's trade, industrial growth and global competitiveness, evolving from a single port-led vision in 1998 to a network spanning 19 ports and terminals across India and beyond.Speaking on the...

Adani Enterprises Subsidiary Divests Stake in Vishakha Industries Private Limited Adani Enterprises Limited announced that its wholly-owned subsidiary, Adani Agri Fresh Limited (AAFL), has divested its entire 50% stake in Vishakha Industries Private Limited (VIPL) on March 31, 2026. Consequently, VIPL is no longer considered an associate of AAFL.The transaction was completed on March 31, 2026, with AAFL receiving a consideration of Rs. 13.27 crore for the sale of 146,685 shares. The buyer, Adani Properties Private Limited (APPL), is affiliated with the promoter and promoter group of Adani Enterprises Limited and will now hold a 50% stake in VIPL. The transaction was conducted at arm's length.Financial details related to VIPL for the...

Punjab National Bank Announces Changes in Senior Management New Delhi – Punjab National Bank (PNB) announced changes in its senior management, effective April 1, 2026. The changes were disclosed in a communication to the National Stock Exchange of India Limited and BSE Limited.The appointments, detailed in a table, involve several Zonal Managers and General Managers transitioning to new roles within the bank.Here’s a summary of the changes:SI. No.NamePrevious AssignmentNew AssignmentExperience (Years)1Rajesh BhowmickZonal Manager - GM, JaipurZonal Manager- CGM, Jaipur292Ashish Kumar ChaturvediZonal Manager - GM, RaipurZonal Manager- CGM, Raipur343Anju MittalGeneral Manager, Compliance DivisionZonal Manager - GM, Agra32...

Brainbees Solutions Limited Announces Acquisition of Additional Stake in Candes Technology Private Limited Brainbees Solutions Limited announced that its material subsidiary, Globalbees Brands Private Limited, has acquired an additional stake in Candes Technology Private Limited on March 31, 2026. The acquisition was made pursuant to a Securities Subscription and Purchase Agreement dated March 31, 2022.Globalbees acquired a 30% additional shareholding from existing shareholders, increasing its stake in Candes Technology Private Limited from 62% to 92%. The total consideration for the acquisition was INR 37,250.Candes Technology Private Limited, incorporated on January 25, 2021, operates under the brand name 'Candes' and deals in...

Cummins India Limited Receives Rectification Orders from Income Tax Department Cummins India Limited announced it received two rectification orders from the Dy. Commissioner of Income Tax, Pune, under Section 155(18) of the Income-tax Act, 1961. The orders pertain to financial year 2018-19, with a demand of INR 32.98 Crores, and financial year 2016-17, with a demand of INR 12.84 Crores.According to the company's evaluation, the demands were raised due to errors apparent on the face of the record. Cummins India Limited is currently pursuing remedial actions with the relevant authorities to resolve the issues and expects the demands to be quashed.The company stated that the demands have no material impact on its financials or...

Tube Investments Acquires Remaining Stake in TIVOLT Electric Vehicles Tube Investments of India Limited announced that M/s. TIVOLT Electric Vehicles Private Limited has become a wholly-owned subsidiary of M/s. TI Clean Mobility Private Limited, a subsidiary of Tube Investments, effective March 31, 2026. This followed the acquisition of 3,000,000 equity shares, representing the remaining 5.45% stake held by another shareholder, for a consideration of Rs. 30 crore.TIVOLT Electric Vehicles Private Limited is engaged in the manufacture and sale of electric small commercial vehicles (e-SCV). The company was incorporated in 2023 and operates in India. TIVOLT reported a turnover of Rs. 81.55 crore for the fiscal year 2025-26 (unaudited), Rs...

Zaggle Prepaid Ocean Services Limited Enters Agreement with Fanuc India Private Limited Zaggle Prepaid Ocean Services Limited announced it has entered into an agreement with Fanuc India Private Limited. The agreement, effective March 31, 2026, involves Zaggle providing its Zaggle Save (Employee Expense Management &Benefits) platform to Fanuc India Private Limited.The agreement with the domestic entity is for a period of 5 years. According to the terms, Zaggle will provide Zaggle Save (Employee Expense Management &Benefits) to Fanuc India Private Limited. No promoter, promoter group, or group company has any interest in Fanuc India Private Limited. The agreement does not constitute a related party transaction.Sr...

Indian Renewable Energy Development Agency Reports Strong Business Performance for Fiscal Year 2026 Indian Renewable Energy Development Agency Limited (IREDA) announced provisional business performance figures for the year ended March 31, 2026, reflecting robust growth across key metrics. The results, subject to audit, demonstrate a significant expansion of IREDA's renewable energy portfolio.IREDA sanctioned loans totaling ₹51,883 crore for the fiscal year, a 9% increase compared to ₹47,453 crore in the prior year. Loan disbursements reached ₹34,946 crore, marking a 16% rise from ₹30,169 crore in fiscal 2025. The loan book outstanding at the end of the year stood at ₹93,075 crore, representing a substantial 22% growth from ₹76,282...

Centrum Capital Limited Retires from Centrum Alternatives LLP Centrum Capital Limited announced it has executed definitive documents to retire from its subsidiary, Centrum Alternatives LLP (CAL LLP), effective March 31, 2026. As a result of this retirement, CAL LLP will cease to be a subsidiary of Centrum Capital Limited, and Surplus Fincare Private Limited has been inducted as a partner.The turnover and net worth of Centrum Alternatives LLP for the fiscal year 2024-25 were Nil and 141.30 respectively, with a net worth of 6,767.64. CAL LLP’s contribution to the consolidated net worth of Centrum Capital Limited for FY 2024-25 was 2.09%.The company received Rs. 7.50 lakh from Centrum Alternatives LLP towards the settlement of its...

BLS E-Services Extends Deadline for Atyati Technologies Acquisition BLS E-Services Limited has extended the timeline for the acquisition of Atyati Technologies Private Limited (ATPL). Initially anticipated to be completed by March 31, 2026, the acquisition is now expected to be finalized on or before April 30, 2026.In February 2026, BLS E-Services announced a binding offer to acquire 100% equity shares of ATPL, contingent upon approvals from lenders/banks, regulatory/statutory authorities, and fulfillment of other conditions.The company is currently working to execute necessary agreements, including Share Purchase Agreements/Framework Agreement, and secure approvals/confirmations from lenders/banks and regulatory/statutory...

Confidence Futuristic Energetech Limited Responds to Trading Volume Increase Confidence Futuristic Energetech Limited addressed the Bombay Stock Exchange regarding a recent increase in trading volume for its securities. The company confirmed it has been disclosing material information to the Stock Exchanges in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Confidence Futuristic Energetech Limited stated that there is no pending information, announcement, or event that could impact the price or volume of its securities. The company attributes the increased trading volume to market-driven activity and reports no specific reason for the change.Confidence Futuristic Energetech Limited’s...

Bharat Coking Coal Limited Revises Modulated Price for Coking Coal and Washed Coal Products Bharat Coking Coal Limited (BCCL) announced a revision to the modulated price for its coking coal and washed coal products, effective April 1, 2026. The decision, approved by the Committee of Functional Directors (CFDs) in a meeting held on March 31, 2026, affects NRS Linkage auction tranche VI and subsequent auctions, as well as single-window mode agnostic e-auctions.The price adjustment reflects a 0.24% increase based on the Wholesale Price Index (WPI) indexation, compared to the previous year. The revision aligns with Coal India Limited (CIL) guidelines.BCCL, a Miniratna Company and subsidiary of Coal India Limited, is a Government of...

Global Surfaces Limited Receives Income Tax Assessment Order and Notice of Demand Global Surfaces Limited announced it received an assessment order under Section 143(3) of the Income-tax Act, 1961, along with a notice of demand under Section 156 of the Income-tax Act, 1961, for the Assessment Year 2023-24. The communication was received on March 31, 2026, from the Office of the Assistant Commissioner of Income Tax, Central Circle 2(2), Kolkata.The assessment order includes additions and disallowances, resulting in a demand of ₹37,48,89,740.According to a summary of the communication, the company believes it has adequate legal and factual grounds to address the matter and does not anticipate a material adverse impact on its...

Bharat Electronics Limited Secures Orders Worth Rs. 6795 Crore Bharat Electronics Limited (BEL), a Navratna Defence Public Sector Undertaking, announced it has secured additional orders worth Rs. 6795 Crore since March 30, 2026.The orders include mountain radars from the Ministry of Defence (MoD), avionics packages for the Light Combat Aircraft (LCA) from Hindustan Aeronautics Limited (HAL), a major export order for communication equipment, electronic fuzes, strategic components, upgrades, spares, and services.Source:

Goodricke Group Terminates Proposed Sale of Barnesbeg Tea Estate Goodricke Group Ltd. announced the cancellation of a non-binding Memorandum of Understanding (MoU) regarding the proposed sale of Barnesbeg Tea Estate. The MoU was initially executed with Mr. Akshay Shankar Das on February 20, 2026, contingent upon the completion of due diligence by March 31, 2026.The parties were unable to reach an agreement on certain matters during the due diligence process, leading to the mutual termination of the MoU. Consequently, a definitive agreement will not be executed, and the transaction will not proceed.According to Goodricke Group, the cancellation of the MoU will not have a material financial impact on the company. Goodricke Group Ltd...

Dev Information Technology Limited Approves Sale of Products and Business Dev Information Technology Limited announced that its Board of Directors approved the sale/transfer of the company's products along with its business as a going concern on a slump exchange to Byte Technosys Private Limited, an associate company, effective March 31, 2026. The consideration for the transaction is Rs. 11.90 Crores.The decision, based on a recommendation from the Audit Committee, was made in accordance with Section 188 of the Companies Act, 2013. The consideration was determined based on an independent valuation conducted by a registered valuer.Byte Technosys Private Limited specializes in IT infrastructure management services, software...