Markets

HMT Limited Appoints N. Ramesh Kumar as Chairman & Managing Director (Additional Charge) HMT Limited announced the appointment of Shri N. Ramesh Kumar as the additional Chairman & Managing Director, effective March 25, 2026. Shri Kumar, an Executive Director at Bharat Heavy Electricals Limited (BHEL), will hold the position for a period of one year or until a regular incumbent is appointed, whichever occurs first, pending approval from the Appointments Committee of the Cabinet (ACC).According to a filing, Shri Kumar is not debarred from holding the office of Director by any order from the Securities and Exchange Board of India (SEBI) or any other authority.About N. Ramesh Kumar Shri N. Ramesh Kumar, aged 57, graduated from BITS...

Steel Exchange India Ltd. Issues Corrigendum to Extraordinary General Meeting Notice Steel Exchange India Limited announced on March 25, 2026, a corrigendum to the Notice of the 1st Extraordinary General Meeting (EGM) for Fiscal Year 2025-26. The EGM is scheduled to be held on March 30, 2026, at 11:30 a.m. IST via Video Conferencing (VC) / Other Audio-Visual Means (OAVM). The corrigendum addresses amendments to the Explanatory Statement, stemming from suggestions and comments received from Stock Exchanges.The changes pertain to Item No. 1 concerning the issuance of Convertible Equity Warrants to the Promoter Group and Non-Promoter Entities on a preferential basis. Specifically, updates were made to points (iii) on page 15 & 16, (xvi)...

Punjab National Bank Announces Change in Statutory Central Auditors Punjab National Bank announced a change in its Statutory Central Auditors (SCAs) effective March 25, 2026. The change follows a letter from the Reserve Bank of India (RBI) dated March 25, 2026, reference DOS.ARG.No.59687/08:10:003/2025-26. As a result, M/s P S D & Associates, Chartered Accountants, has ceased to be part of the bank’s SCA team.The following firms will continue to serve as Statutory Central Auditors for Punjab National Bank for the financial year 2025-26:Name of the Audit FirmTenure as SCA in PNB (year)M/s Ummed Jain & Co., Mumbai (FRN 119250W, UCN 290292)3rdM/s N K Bhargava & Co., Delhi (FRN 000429N, UCN 005772)M/s Prem Gupta & Co., Delhi...

G R Infraprojects Transfers Three Subsidiaries to Indus Infra Trust G R Infraprojects Limited announced the successful transfer of three wholly-owned subsidiaries – GR Bilaspur Urga Highway Private Limited (GBUHPL), GR Ujjain Badnawar Highway Private Limited (GUBHPL), and GR Ena Kim Expressway Private Limited (GEKEPL) – to Indus Infra Trust on March 25, 2026.The transfer follows receipt of consideration from Indus Infra Trust and effectively terminates GBUHPL, GUBHPL, and GEKEPL’s status as wholly-owned subsidiaries of G R Infraprojects.GR Ena Kim Expressway Private Limited was a material subsidiary and required shareholder approval, which was obtained via postal ballot.According to financial data as of March 31, 2025, GEKEPL...

Popular Vehicles & Services Extends Corporate Guarantees Popular Vehicles and Services Limited announced on March 25, 2026, that it has extended corporate guarantees to support its subsidiaries and affiliated companies.The company continued to provide a corporate guarantee of Rs. 2,00,00,000 to Sundaram Finance Limited related to a trade advance facility and another guarantee of Rs. 22,50,00,000 to IndusInd Bank Limited regarding credit facilities granted to Prabal Motors Private Limited, a subsidiary. Additionally, Popular Vehicles & Services continued a corporate guarantee of Rs. 5,00,00,000 to Sundaram Finance Limited for a trade advance facility to Popular Mega Motors (India) Private Limited, a wholly-owned subsidiary.According...

Network 18 Media & Investments Ltd. Approves Amalgamation of News18 Marathi Network 18 Media & Investments Ltd. announced on March 25, 2026, that its Board of Directors has approved a scheme of amalgamation with News18 Marathi Private Limited, a wholly-owned subsidiary. The move aims to consolidate operations of the Marathi news channel.The amalgamation will occur under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The appointed date for the scheme is April 1, 2026. As a merger of a wholly-owned subsidiary, the transaction is considered a related party transaction at arm’s length and will not result in any changes to the shareholding pattern of the Company.Network 18 Media & Investments Ltd...

KPI Green Energy Reaffirms Credit Ratings with ICRA KPI Green Energy Limited announced on March 25, 2026, that ICRA Limited has reaffirmed its credit ratings for the company’s bank facilities and Non-Convertible Debentures (NCDs). The ratings reflect the company’s financial performance and outlook.Bank Facility RatingsICRA has reaffirmed and assigned enhanced amounts to the following bank facilities:InstrumentRated Amount (Rs. crore)Rating ActionOutlookLong term - Fund based - Term loan4009.54[ICRA]A (Stable); reaffirmed and assigned to enhanced amountRevised from PositiveLong term - Fund based - Cash credit487[ICRA]A (Stable); reaffirmed and assigned to enhanced amountRevised from PositiveShort term - Working capital...

Gail (India) Ltd. Revises Completion Schedule for Pipeline Sections Gail (India) Ltd. announced revisions to the completion schedules for sections of the Integrated Jagdishpur-Haldia-Bokaro-Dhamra pipeline project on March 25, 2026. The changes were approved by the company’s Board of Directors during a meeting held on the same day.The project, which includes the 3,266-kilometer pipeline laid and commissioned out of a total authorized length of 3,306 kilometers, experienced delays primarily due to challenges related to the Right of Use (RoU) and fisheries front availability.Specifically, the completion schedule for the Kolkata-Haldia section and the Dhamra-Haldia (West Bengal) section has been extended. The revised completion...

GAIL (India) Ltd. Invests in GAIL Global (USA) Inc. GAIL (India) Ltd. announced on March 25, 2026, that its Board of Directors approved an equity investment in its wholly-owned subsidiary, GAIL Global (USA) Inc. (GGUI). The investment will be used primarily to reduce GGUI's outstanding loan obligations for its shale assets in the Eagle Ford basin, Texas, USA.GGUI, incorporated in the USA, had a standalone turnover of US$7.6 million for the calendar year 2025, US$11.6 million for 2024, and US$10.7 million for 2023. The company currently holds a 20% ownership in shale assets within the Eagle Ford basin.The Board approved the equity investment as a cash consideration for subscription and authorized an investment of up to US$64 million...

Consecutive Commodities Limited Appoints New Director, Announces Committee Reconstructions Kolkata – Consecutive Commodities Limited, formerly known as Consecutive Investments & Trading Company Limited, announced several corporate governance updates following a board meeting held on March 25, 2026.The company appointed Ms. Reema Magotra (DIN: 09804839) as an Additional Non-Executive and Independent Director, effective March 25, 2026. Ms. Magotra is described as an education professional with expertise in leadership and organizational development. The board also acknowledged the resignation of Ms. Promila Sharma (DIN: 09735554) from the post of Non-Executive and Independent Director, also effective March 25, 2026, citing personal...

IIRM Holdings India Ltd. Acquires Stake in Saferisk Insurance Brokers Private Limited IIRM Holdings India Limited (formerly Sudev Industries Limited) announced the acquisition of Safe Risk Insurance Brokers Private Limited (SafeRisk) by its wholly-owned subsidiary, India Insure Risk Management and Insurance Broking Services Private Limited. The announcement was made on March 25, 2026, in continuation of previous disclosures dated July 31, 2025, and October 30, 2025.SafeRisk, incorporated on December 1, 2014, is primarily engaged in insurance broking, risk management, and claims consultancy. It is based in Bhubaneswar.Financial Details of SafeRisk (2024-2025):The table below outlines key financial details of SafeRisk for the past...

Gail (India) Ltd. Revises Completion Schedule for Mumbai-Nagpur-Jharsuguda Pipeline Project Gail (India) Ltd. announced a revision in the completion schedule for the Mumbai-Nagpur-Jharsuguda (MNJPL) pipeline project. The change, approved by the company’s Board of Directors on March 25, 2026, extends the completion timeline from March 1, 2026, to June 30, 2026.The MNJPL project encompasses three pipeline segments: a 693-kilometer Mumbai-Nagpur segment (Part-A), a 692-kilometer Nagpur-Jharsuguda segment (Part-B), and a 317-kilometer Nagpur-Jabalpur segment (Part-C), for a total pipeline length of 1702 kilometers.According to the company, the Mumbai-Nagpur, Nagpur-Jharsuguda, and Nagpur-Jabalpur pipeline segments are currently...

Multi Commodity Exchange of India Subsidiary Transfers Funds to Guarantee Fund Following Technical Glitch Multi Commodity Exchange of India Limited announced that its subsidiary, Multi Commodity Exchange Clearing Corporation Limited (MCXCCL), transferred 50 Lakh rupees to its Core Settlement Guarantee Fund on March 23, 2026.The transfer, categorized as a "Financial Disincentive," stems from a technical glitch that occurred on December 23, 2025. The company previously disclosed the pending transfer in a letter dated March 24, 2026.Further details regarding the event will be available on the company’s website at www.mcxindia.com.Source:

Indus Infra Trust Completes Acquisition of ROFO Assets Indus Infra Trust announced the completion of its acquisition of 100 percent equity shares in three entities from G R Infraprojects Limited on March 25, 2026. The acquired entities are GR Ena Kim Expressway Private Limited, GR Ujjain Badnawar Highway Private Limited, and GR Bilaspur Urga Highway Private Limited, collectively referred to as the ROFO Assets.The acquisition follows an earlier intimation issued on March 25, 2026. Further details regarding the acquisition are available on the Trust's website at https://indusinvit.com/investor-information.html.Source:

Bandhan Bank Appoints Debashish Mukherjee as Independent Director Bandhan Bank Limited announced the appointment of Debashish Mukherjee as an Additional Director (Independent) and Independent Director, effective March 25, 2026. The appointment follows approval from the Ministry of Finance.Mukherjee’s term is for three consecutive years and he is not liable to retire by rotation, subject to shareholder approval within three months. He is not related to any other directors and is not debarred or disqualified from holding a director’s position.Debashish Mukherjee’s Director Identification Number is 08193978. The appointment was initially approved by the Board of Directors on February 12, 2026, pending Ministry of Finance approval...

JSW Steel Completes Acquisition of Minas de Revuboe Limitada Stake JSW Steel Limited announced the completion of its acquisition of a 92.19% equity stake and shareholder loans in Minas de Revuboe Limitada (MdR) on March 25, 2026. The acquisition was made through JSW Natural Resources Limited, a wholly-owned subsidiary of JSW Steel.According to a regulatory update, JSW Natural Resources transferred USD 74.24 million to designated escrow accounts to finalize the transaction. This follows previous announcements regarding the acquisition made on May 17, 2024, January 28, 2025, and March 26, 2025.The information is available on the company’s website at www.jsw.in.Source:

Welspun Corp Limited Grants Stock Options to Employees Welspun Corp Limited announced today, March 25, 2026, that its Nomination and Remuneration Committee has approved the grant of 86,717 stock options to eligible employees under the Welspun Corp Employee Benefit Scheme 2022. The scheme is managed through the Welspun Corp Employees Welfare Trust.The grant details are outlined below:DetailInformationNumber of Stock Options Granted86,717 Stock OptionsRegulatory ComplianceThe scheme adheres to the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.Vesting PeriodOptions vest over three years, with 30% vesting after the first year, 35% in the second year, and the remaining 35% in the third year...

Deepak Fertilizers and Petrochemicals Enters Novation Agreement for LNG Supply Deepak Fertilizers and Petrochemicals Corporation Limited announced on March 25, 2026, that it has entered into a Novation Agreement with Equinor ASA and Deepak Globalchem PTE. LTD. (DGPL), a wholly-owned subsidiary of the company. The agreement novates a long-term supply agreement for Liquefied Natural Gas (LNG) previously entered into with Equinor on February 19, 2024, to DGPL.The novated LNG supply arrangement provides for annual supplies of LNG up to 0.65 million tonnes for a period of 15 years, commencing from 2026. The terms of the new agreement mirror those of the original supply agreement.Under the terms of the agreement, DGPL assumes all rights...

Welspun Living Limited Completes Acquisition of Stake in Welspun Corporate Services Limited Welspun Living Limited announced the completion of its acquisition of a 35% stake in Welspun Corporate Services Limited (formerly known as Welspun Home Textiles Limited) on March 25, 2026. The acquisition involved 3,500 equity shares with a face value of Rs. 10 each, representing 35% of WCSL’s total paid-up equity share capital. The total consideration for the acquisition was Rs. 35,000.Following the completion of the acquisition, Welspun Living Limited holds a 35% equity stake in Welspun Corporate Services Limited, classifying WCSL as an associate company.Source:

City Union Bank Receives Income Tax Assessment Order City Union Bank Ltd. announced today, March 25, 2026, that it received an assessment order for income tax from The Assessment Unit, Income Tax department.The order pertains to the assessment year 2024-25. The Income Tax department reduced the bank’s refund claim by Rs. 97,22,24,47L and raised Nil demand. The order disallowed certain deduction claims made by the bank under sections 36(lXviia) and 36(lXvii), along with three other deductions.According to the bank, its deduction claims are fully allowable based on judicial pronouncements and previous assessments by the same unit, which had allowed similar claims in earlier years. The bank intends to file an appeal, and anticipates a...