Markets

Indian Overseas Bank Receives Demand Notice for Rs. 642.74 Crores Indian Overseas Bank announced on March 27, 2026, that it received a demand notice from the Income-tax Department regarding a tax liability for the Assessment Year 2016-17. The notice, received on March 26, 2026, advises the bank to pay an amount of Rs. 642.74 Crores.The demand follows an order from the Income Tax Appellate Tribunal (ITAT) ITA No. 202 & 253/Chny/2023, dated December 31, 2024, implemented under Section 254 read with Section 143(3) of the Income Tax Act, 1961. The notice originated from the Joint Commissioner of Income-tax (in-situ), Non-Corporate Circle-8, Chennai.Indian Overseas Bank stated that it is in the process of challenging the order in the...

Sheetal Cool Products Limited Launches New Ice Cream Café in Ahmedabad Sheetal Cool Products Limited announced the launch of a new Ice Cream Café in Ahmedabad, Gujarat, on March 26, 2026. The café commenced operations at 6:30 P.M.The new outlet, located at Sheetal Ice Cream Café, Magnifico Complex, Opp. Avalon Hotel, Nr. Motilal Oswal Tower, Sindhu Bhavan, Ahmedabad, Gujarat 380059, is part of the company’s strategy to expand its retail presence and bolster its brand within key markets. The café will offer Sheetal’s range of premium ice cream products and related items, aiming to enhance the customer experience.The café's business will focus on the retail sale of ice cream and allied products through a café format.Source:

QMS Medical Allied Services Limited Applies to Migrate to Main Board on NSE QMS Medical Allied Services Limited has applied to the National Stock Exchange of India (NSE) to migrate its equity shares from the NSE Emerge platform to the Main Board. The application, submitted on March 25, 2026, is currently pending approval from the Exchange.The company's registered office is located at 9 1A-1B / 2A-2B, Navkala Bharati Building, Plot No. 16, Prabhat Colony, Road No. 3, Santacruz (East), Mumbai. Further information can be found at www.qmsmas.com. T oral Bhadra, Company Secretary and Compliance Officer (Membership No.: A56927), confirmed the application on behalf of QMS Medical Allied Services Limited.Source:

Saatvik Green Energy Subsidiary Secures INR 14 Crore Order for Solar PV Modules Saatvik Green Energy Limited announced that its subsidiary, Saatvik Solar Industries Private Limited, has received and accepted an order totaling INR 14 Crores from a renowned domestic Independent Power Producer/EPC player. The order is for the supply of Solar PV Modules.The order, awarded by a domestic entity, is considered commercial in nature and is expected to be executed by March 2026.According to details released, the order aggregates to INR 14 Crores and no promoter, promoter group, or group company has any interest in the entity that awarded the order. The transaction does not fall under related party transactions.Below is a summary of the key...

Magnanimous Trade & Finance Limited Appoints Additional Director and CFO Magnanimous Trade & Finance Limited announced several key appointments following a board meeting held on March 27, 2026.The Board of Directors appointed Ms. Shweta [DIN: 10283634] as an Additional Director in the category of Non-Executive Independent Director, effective March 27, 2026. This appointment is for a period of five years, pending regulatory and shareholder approval. Ms. Shweta brings experience in corporate governance, marketing, and communication. She holds a Bachelor of Arts and Master of Arts from State University, Allahabad, and is currently pursuing an LL.B. She is currently associated with Leading Leasing Finance and Investment Company Limited...

Omax Autos Limited Confirms Ransomware Attack on IT Infrastructure Omax Autos Limited reported a ransomware attack on its IT infrastructure on March 27, 2026. The company’s IT department initially suspected a cyber security incident on March 26, 2026, which was subsequently confirmed as a ransomware attack.According to the company, the attack has not impacted core systems and operations. Omax Autos Limited is currently assessing the potential loss or impact resulting from the incident and has initiated a detailed investigation. Remedial actions are underway based on preliminary findings.The company stated that it is closely monitoring the situation and implementing measures to enhance its cyber security systems. Further updates will...

Mazagon Dock Shipbuilders Acquires Additional Shares in Colombo Dockyard PLC, Reaching 51% Ownership Mazagon Dock Shipbuilders Limited announced on March 27, 2026, that it has completed the acquisition of 3,66,49,271 fully paid ordinary shares in Colombo Dockyard PLC (CDPLC). This acquisition is part of a Tripartite Agreement involving CDPLC and Onomichi Dockyard Co. Ltd.The acquisition was executed through a Mandatory Offer, as per Rule 31(i) (a) of the Company Takeovers and Mergers Code 1995 (as amended in 2003) of Sri Lanka. With this latest purchase, Mazagon Dock Shipbuilders' total shareholding in CDPLC now stands at 51%.Lalatendu Acharya, Company Secretary and Compliance Officer of Mazagon Dock Shipbuilders Limited, provided...

Fabtech Technologies Limited Appoints Additional Director, Notes Director Tenure Completion, and Reconstitutes Board Committees Mumbai – Fabtech Technologies Limited announced several changes to its Board of Directors on March 27, 2026. The company appointed Ms. Rupal Dhiren Haria as an Additional Non-Executive, Independent Director, effective April 03, 2026, for a term of five consecutive years, subject to shareholder approval.Ms. Haria, a fellow member of The Institute of Chartered Accountants of India since 1993, is currently a Partner at Atul C. Beda & Company, Chartered Accountants. She specializes in taxation and related areas and has extensive experience in training professionals.The company also noted the completion of the...

Tamilnadu Petroproducts Limited Completes Expansion at Heavy Chemicals Division Tamilnadu Petroproducts Limited announced the successful completion of expansion activities at its Heavy Chemicals Division (HCD) plant. Operations are set to commence on March 28, 2026.The expansion at the HCD plant increases the capacity to 250 tonnes per day (TPD) of Caustic Soda production. The Tamil Nadu Pollution Control Board has granted Consent to Operate for the expanded capacity, permitting operations and emissions discharge under the Air (Prevention and Control of Pollution) Act, 1981 and the Water (Prevention and Control of Pollution) Act, 1974.This update follows previous communications on November 11, 2024, and March 17, 2026. Sangeetha...

SJVN’s Rampur Hydro Power Station Achieves Record Generation SJVN Limited announced on March 27, 2026, that its 412 MW Rampur Hydro Power Station in Himachal Pradesh surpassed its previous generation record. The station generated 2098.03 million units, exceeding the record set during fiscal year 2019-20.Bhupender Gupta, Chairman & Managing Director of SJVN, reported the achievement. Director (Personnel) Ajay Kumar Sharma witnessed the milestone during a visit to the Power House of Rampur HPS and commended the dedication of the operations and maintenance (OEM) teams and other employees.Vikas Marwah, Head of Project at Rampur HPS, attributed the achievement to the leadership of the SJVN Management and the teamwork of its employees...

Dev Information Technology Limited Enters Exclusive Distribution Agreement with A21 Technologies to Expand Talligence Reach Mumbai – March 27, 2026 – Dev Information Technology Limited (DEV IT) (NSE - DEVIT, BSE - 543462 | INE060X01034), a global IT services company, announced an exclusive Master Distributor agreement with A21 Technologies LLP for the nationwide distribution of its AI-powered business intelligence software, Talligence.Strategic Partnership to Accelerate Nationwide Reach The agreement will enable DEV IT to significantly expand its reach across India through A21 Technologies LLP’s partner-led distribution ecosystem. The collaboration aims to strengthen last-mile connectivity and accelerate the adoption of advanced...

Reliance Chemotex Industries Limited Re-Appoints Ram Niwas Sharma as Independent Director Reliance Chemotex Industries Limited announced the re-appointment of Ram Niwas Sharma as a Non-Executive Independent Director, effective February 10, 2026. The decision, approved by the Board of Directors through a resolution on February 9, 2026, grants Mr. Sharma a second term of five years, extending until February 9, 2031. He will continue in his role as Chairperson of the Company, with existing committee memberships and chairpersonships remaining unchanged.Mr. Sharma holds a Bachelor's Degree in Textile Technology from the Technological Institute of Textile & Sciences (TIT) and brings over 53 years of experience in the textile industry. He is...

Apcotex Industries Approves Investments in Solar Power Producers and Re-appoints Executive Director Apcotex Industries Ltd. announced Friday that its Board of Directors approved investments in two power producers, Amplus Ceres Solar Private Limited and Amplus Energy One Private Limited. The company will subscribe to a minimum of 2.55% of Amplus Ceres Solar’s equity shares for a total value of INR 72,00,000 and 2.14% of Amplus Energy One’s equity shares for a total value of INR 1,32,00,000. These investments are intended to facilitate captive consumption of solar power. Both entities are subsidiaries of Amplus Energy Solutions PTE Limited and are structured as Special Purpose Vehicles. As these entities have not yet initiated business...

NIIT Learning Systems Receives Income Tax Assessment Order for Assessment Year 2023-24 NIIT Learning Systems Limited announced March 27, 2026, that the Assessment Unit of the Income Tax Department has passed an order under Section 143(3) and issued a Notice of Demand under Section 156 of the Income-tax Act, 1961, for the Assessment Year 2023-24.The Notice of Demand pertains to a sum of Rs. 14,93,39,220 (including interest). According to the company, the demand arose due to an apparent mistake in the computation sheet issued by The Assessment Unit of the Income Tax Department.NIIT Learning Systems intends to file an application for rectification under Section 154 of the Income-tax Act, 1961, and expects the demand to be rectified...

Befound Movement Limited Appoints Additional Independent Director Befound Movement Limited, formerly known as Regency Trust Limited, announced the appointment of Ms. Sakshi Dubey as an Additional Non-Executive Women Independent Director on March 27, 2026. The appointment was approved at a Board meeting that commenced at 4:00 P.M. and concluded at 4:20 P.M. Ms. Dubey’s tenure is for a period of five years, pending approval from the company’s members.Ms. Dubey’s profile highlights over three years of experience in operations management. She possesses a foundational understanding of financial markets, risk awareness, and compliance principles. She holds a Bachelor of Arts degree from PRSU (Allahabad State University). She has no...

Ethos Ltd. Opens New Boutique in Srinagar, Expanding Retail Presence Ethos Ltd. has inaugurated a new Ethos Watch Boutique located at Unit No-3, the Edition Mall, Sanat Nagar, Srinagar, Jammu & Kashmir - 190005. The opening represents a key step in the company's strategy to expand its luxury brand portfolio and strengthen its position in the Indian luxury retail market.With this new location, Ethos Ltd. now operates a total of 92 boutiques across India, making exclusive luxury brands more accessible to customers. The company’s stock code on the BSE Limited is 543532, and its ISIN is INE04TZ01018. On the National Stock Exchange of India Limited, the trading symbol is ETHOSLTD.Shubham Kandhway, Company Secretary & Compliance...

Pearl Global Industries Announces Subsidiary Incorporation in Singapore Pearl Global Industries Limited (PGIL) announced the incorporation of a new subsidiary, Pearl Global Fashion Singapore Pte Limited, in Singapore, effective March 27, 2026. The new entity is a step-down subsidiary of PGIL, held through Pearl Global (HK) Limited, a wholly-owned subsidiary of PGIL.The subsidiary will operate as a trading company focusing on apparel and serving clients in Asia, Japan, Europe, and the United States. Pearl Global Fashion Singapore Pte Limited was approved by the Accounting and Corporate Regulatory Authority (ACRA) in Singapore.The initial investment in the subsidiary consists of one share valued at 1 USD. PGIL now holds 100% of the...

Eris Lifesciences Provides Corporate Guarantee of INR 75 Crores to Subsidiary Eris Lifesciences Limited announced on March 27, 2026, that it has executed a corporate guarantee of INR 75 Crores in favor of Eris Bionxt Private Limited (EBPL), a wholly-owned subsidiary. The guarantee secures a term loan sanctioned to EBPL by HDFC Bank. The proceeds from the term loan will be used by EBPL for repayment of existing loan liabilities.According to details released, the corporate guarantee agreement was finalized on March 27, 2026.The corporate guarantee details are as follows:ParticularsDetailsName of the party for which such guarantee was given:Eris Bionxt Private Limited ( ' EBPL ') Wholly Owned Subsidiary of the Company...

Shera Energy Limited Invests in Buntingwa Resources Limited Shera Energy Limited announced that its material subsidiary, Shera Zambia Limited, has invested in Buntingwa Resources Limited, a company incorporated in Zambia, marking the company as a step-down associate. The investment was completed on March 27, 2026.Buntingwa Resources Limited, established on December 7, 2022, is involved in the mining of non-ferrous metals ores and related activities. The company is currently in an investment phase and has not commenced commercial production, resulting in zero turnover.Shera Zambia Limited acquired a 32.5% stake in Buntingwa Resources Limited for USD 267. While initially not a related party, Buntingwa Resources Limited now falls under...

Prozone Realty Limited to Acquire Shares in Three Subsidiaries Prozone Realty Limited (PRL) announced on March 27, 2026, that its Board of Directors has approved the purchase of equity shares of Empire Mall Private Limited, Omni Infrastructure Private Limited, and Hagwood Commercial Developers Private Limited from Prozone Liberty International Limited, a wholly owned subsidiary in Singapore.The acquisition, involving a cash consideration, aims to enhance PRL's cash management efficiency, restructure the group's legal entity structure, and unlock strategic flexibility, including potential asset-level monetisation or partnerships.Details of the Acquisition:The following table outlines key details regarding the acquisition of each...