Markets

Reliance Industries Denies Reports of Iranian Crude Oil Purchase Reliance Industries Limited has refuted recent media reports claiming the company purchased crude oil of Iranian origin. The company described the allegations as “entirely baseless, factually incorrect, and misleading.”In a statement, Reliance Industries urged media outlets to verify information thoroughly before publication, emphasizing the potential for unsubstantiated reports to misinform stakeholders and the public.Source:

SSMD Agrotech India Ltd. Announces Resignation of Whole-Time Director SSMD Agrotech India Ltd. announced the resignation of Whole-Time Director, Surbhi Munjal, effective the date of board meeting acceptance. Munjal’s resignation, submitted via email on March 26, 2026, is due to personal reasons.The company expressed appreciation for Munjal's contributions during her tenure. Surbhi Munjal’s Director Identification Number (DIN) is 09593268.Rajesh Thakur, Company Secretary & Compliance Officer (Membership No.: A71143), confirmed the resignation.Source:

Vikram Solar Limited Presents Analysts and Investors Day Insights Vikram Solar Limited, a leading solar module manufacturer, hosted an Analysts and Investors Day on March 24, 2026, in Mumbai, highlighting its strategic initiatives and financial performance. The company reported $682 Cr in revenue, reflecting a 154% year-over-year increase. Earnings before interest, taxes, depreciation, and amortization (EBITDA) saw growth of 150% year-over-year, totaling $3,350 Cr.Strategic Context and Market OpportunitiesThe presentation underscored India's role in energy security and its growing renewable energy appetite, noting a $137 billion annual crude import bill. Vikram Solar emphasized India's position as a key global supply chain and the...

Fino Payments Bank Announces Bail for MD & CEO, Rishi Gupta Fino Payments Bank Ltd. (Symbol: FINOPB) announced on March 26, 2026, that Rishi Gupta, the Managing Director & CEO, has been granted bail by the Hon'ble Special Judge for Economic Offences in Hyderabad.The ongoing investigation concerns program managers associated with multiple banks, and Fino Payments Bank confirmed that it does not relate to the bank's Goods and Services Tax (GST) compliance. The bank stated it will continue to fully cooperate with the authorities.Despite the ongoing investigation, Fino Payments Bank noted it continues to experience positive momentum in its core business, with sustained increases in deposits and growth in referral assets.The bank...

KNR Constructions Receives Letter of Acceptance for Telangana Road Project KNR Constructions Limited has received a Letter of Acceptance for a road project in Telangana, the company announced on March 26, 2026. The project involves widening and strengthening of a pipeline road from Shankarpally road at MGIT to Manikonda, including junction development at NPCI. The contract is with Hyderabad Growth Corridor Limited.The value of the project is Rs. 83,64,72,062.44, excluding GST. The construction period for the project is 9 months.Trading window for securities of the company will be closed from March 27, 2026, to March 28, 2026, inclusive, in accordance with the company’s insider trading policy.Source:

Rane Holdings Limited Reports Insider Trading Disclosures Rane Holdings Limited announced that Harish Lakshman and Malavika Lakshman, both belonging to the promoter group, have made purchases of equity shares in open market.Harish Lakshman acquired 2,800 equity shares on March 23, 2026, increasing his holding to 1,72,417 shares, representing a 1.21% stake in the company. The transaction value was 28,47,684.00.Malavika Lakshman purchased 5,450 equity shares on March 23, 2026, and an additional 1,350 shares on March 25, 2026, bringing her total holding to 27,517 shares, representing a 0.20% stake in the company. The total transaction value was 14,55,016.50.The transactions were executed on the BSE and NSE exchanges on March 23 and...

Utkarsh Small Finance Bank Approves Sale of Stressed Assets to ARC Utkarsh Small Finance Bank Limited announced on March 26, 2026, that its Management Committee has approved a proposal to sell non-performing assets (NPAs) and written-off loans to an Asset Reconstruction Company (ARC). The sale involves two portfolios of unsecured stressed Micro Finance Institution (MFI) loans.The first portfolio, designated as Pool 1, includes assets with an aggregate principal outstanding of approximately Rs. 1,016.24 crore as of December 31, 2025. The reserve price or binding offer for this pool is Rs. 133.10 crore. The sale structure involves a combination of cash payment and security receipts.The second portfolio, Pool 2, comprises assets with...

Themis Medicare Receives Notice Regarding Outstanding Tax Demands Themis Medicare Ltd. announced today, March 26, 2026, that it received a notice under Section 226(3) of the Income Tax Act, 1961, from the Office of the Assistant Commissioner of Income Tax, Vapi Circle, Vapi. The notice pertains to outstanding tax demands for assessment years 2017-18, 2018-19, and 2020-21.The company is taking steps to defend the matter, including planning to file an appeal within the prescribed timelines. Themis Medicare believes it has adequate grounds to support its position.The aggregate outstanding tax demands are approximately Rs. 13.32 crore, comprised of demands for AY 2017-18 (Rs. 8.71 crore), AY 2018-19 (Rs. 4.17 crore), and AY 2020-21 (Rs...

Zaggle Prepaid Ocean Services Receives Income Tax Demand Notice Zaggle Prepaid Ocean Services Limited announced receipt of an Assessment Order and Notice of Demand under Section 156 of the Income Tax Act, 1961, for the Assessment Year 2024-25. The notice, received from the Assessment Unit, Income Tax Department on March 25, 2026, seeks a tax demand of Rs. 6,60,51,200.The assessment order was issued under Section 143(3) and includes ad-hoc additions to taxable income. Zaggle Prepaid Ocean Services intends to appeal the demand notice before the Commissioner of Income Tax (Appeals) or the NATIONAL FACELESS APPEAL CENTRE (NFAC).According to the company, the demand notice is based on primarily ad-hoc additions and will not have a...

Aegis Vopak Terminals Limited Assigns Rights to Acquire Ammonia Storage Terminal Aegis Vopak Terminals Limited entered into a Deed of Assignment with its subsidiary, Aegis Terminal (Pipavav) Limited (ATPL), on March 26, 2026. This agreement pertains to the assignment of rights for a specialized storage terminal for Ammonia at Pipavav Port to ATPL. The terminal has a static capacity of 36,000 MT.ATPL is a subsidiary of Aegis Vopak Terminals Limited, with the company currently holding an 86% equity stake. The company is in the process of transferring shares to Itochu Corporation.The assignment is considered a related party transaction, but it was completed on an arms-length basis.Details of the Agreement The table below summarizes...

Fino Payments Bank Limited Announces Bail for MD & CEO, Maintains Business Momentum Fino Payments Bank Limited announced that Rishi Gupta, its Managing Director & CEO, was granted bail by the Hon'ble Special Judge for Economic Offences in Hyderabad on March 26, 2026. The update follows previous disclosures on February 27, 2026, and March 24, 2026, regarding the ongoing investigation.The investigation, which involves program managers associated with multiple banks, does not relate to the Bank’s GST compliance. Fino Payments Bank Limited stated it will continue to fully cooperate with the authorities.Despite the ongoing investigation, the Bank reported continued healthy momentum in its core business. This is evidenced by a sustained...

RateGain Travel Technologies Ltd. Allots Equity Shares Under Employee Benefit Schemes RateGain Travel Technologies Limited announced the allotment of 41,309 equity shares under its RateGain - Stock Appreciation Rights Scheme - 2022 (SAR 2022) and RateGain Employee Stock Option Scheme - 2015. The allotment occurred on March 26, 2026.The move resulted in an increase in the company’s paid-up equity share capital from 118,124,117, representing 118,124,117 shares with a face value of Re. 1 each, to 118,165,426 shares, with a total share capital of Rs. 118,165,426.A breakdown of the allotments is provided in the table below:SchemeNumber of Shares AllottedRateGain - Stock Appreciation Rights Scheme - 202230,509RateGain Employee...

AVI Products India Ltd. Holds Adjourned Extraordinary General Meeting AVI Products India Ltd. held an adjourned Extraordinary General Meeting (EGM) on March 24, 2026, at 2:00 P.M. (IST) via video conferencing and other audio-visual means. The meeting was convened to address business matters outlined in a notice dated February 12, 2026.Pursuant to Regulation 44(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company disclosed the consolidated outcome of voting along with a report from Scrutinizer Mr. Suprabhat Chakraborty of Suprabhat & Co.Key Resolutions and Voting ResultsThe following resolutions were put to a vote, with results as detailed in the attached...

Axiscades Technologies Appoints Giridhar Aramane as Additional Director March 26, 2026 – Axiscades Technologies Ltd. announced the appointment of Mr. Giridhar Aramane as an Additional Director (Non-Executive, Independent) effective March 26, 2026. The appointment was approved through a circular resolution by the Board of Directors, based on the recommendation of the Nomination and Remuneration Committee. Mr. Aramane’s appointment is subject to shareholder approval.Mr. Giridhar Aramane, an Indian Administrative Service (IAS) officer, brings extensive experience to the role. He was appointed as a Non-Executive Director on the Board of IL&FS on May 23, 2025. Previously, he served as Defence Secretary to the Government of India from...

RateGain Travel Technologies Ltd. Grants Equity Shares Under Employee Stock Purchase Scheme RateGain Travel Technologies Limited announced on March 26, 2026, that its Nomination and Remuneration Committee has approved the grant of equity shares under the RateGain Employee Stock Purchase Scheme - 2023. A total of 67,631 shares were granted at a price of Rs. 750 per share.The vesting schedule for the granted shares is structured over a four-year period, with a 10% release in year one, 20% in year two, 30% in year three, and 40% in year four. The exercise period for these shares is three years.Below is a summary of the grant details:SchemeShares grantedOffer/Grant PriceScheduleExercise periodRateGain ESPS Scheme - 202367,631Rs...

3i Infotech Ltd. Receives Cybersecurity Work Order Valued at ₹1.26 Crores March 26, 2026 – 3i Infotech Ltd. announced today that its U.S.-based subsidiary, 3i Infotech Inc., has secured a work order from a leading U.S. credit union. The order, received on March 25, 2026, involves the design and implementation of Zero Trust - Identity and Access Governance (IAG) within the cybersecurity domain.The engagement entails the end-to-end implementation of the Saviynt IAM platform, architecture of tailored IAM solutions, and optimization of existing environments. Services also include the configuration and deployment of Saviynt connectors, along with risk identification and reporting. The total value of the work order is approximately ₹1.26...

Sadbhav Engineering Ltd. Allots Debentures in Two Tranches Sadbhav Engineering Ltd. announced the allotment of non-convertible debentures (NCDs) in two tranches to existing lenders on March 25, 2026, as part of a debt restructuring plan.The first tranche comprises 36,376 NCDs with a face value of Rs. 1,00,000 each, totaling Rs. 3,63,76,00,000. The second tranche includes 34,949 NCDs with the same face value, aggregating to Rs. 3,49,49,00,000.The debentures are unlisted, secured, taxable, redeemable, and non-convertible, issued at par on a private placement basis and held in dematerialized form.Interest on NCD-I debentures is set at 9% per annum, payable along with the principal amount on the redemption date. NCD-II debentures have...

STL Networks Ltd. Announces Board Decisions and Postal Ballot Notice Mumbai – March 26, 2026 – STL Networks Ltd. announced today that its Board of Directors met on March 26, 2026, commencing at 7:15 PM and concluding at 8:30 PM.During the meeting, the Board approved the Notice of Postal Ballot for several items of business, including entering into material related party transactions with Sterlite Technologies Limited and Sterlite Tech Cables Solutions Limited, both fellow subsidiaries.The Board also approved the exercise of the Company's borrowing powers under section 180 (1)(c) of the Companies Act, 2013, and the creation of charges on the movable and immovable properties of the company, both present and future, in respect of...

Sadbhav Engineering Limited Enters Master Restructuring Agreement for Debt Sadbhav Engineering Limited announced on March 26, 2026, that it has entered into a Master Restructuring Agreement (MRA) with a majority of the consortium lenders for a debt restructuring plan.The MRA, executed on March 25, 2026, involves debt aggregating to Rs. 1,516.71 Crores, comprising a fund-based exposure of Rs. 906.35 Crore and non-fund based limits of Rs. 610.36 Crore. The fund-based exposure will be restructured as convertible debentures.Parties Involved and Terms of AgreementThe MRA was executed by Sadbhav Engineering Limited, IDBI Trusteeship Services Limited (as security and debenture trustee), and the following lenders: Punjab National Bank...

Varroc Engineering Limited Announces Resignation of Chief Technical Officer Varroc Engineering Limited announced on March 26, 2026, that Fritz Abraham, Chief Technical Officer and Senior Managerial Personnel (SMP), has resigned, effective March 27, 2026, due to personal reasons.According to a letter dated July 30, 2025, Abraham's resignation is motivated by a family medical reason, which involves a relocation to Austria. The company has initiated a search for a successor and anticipates the new appointment will be made in the second quarter of fiscal year 2026-27. A further disclosure will be made upon appointment.Below is a summary of the details related to the resignation, as required by regulations.Details of Resignation...