Markets

Harish Textile Engineers Ltd. Receives Income Tax Notice Harish Textile Engineers Limited received a notice under Section 148A(1) of the Income-tax Act, 1961 from the Office of the Assistant Commissioner of Income Tax, Circle 2(1)(1), Mumbai, dated March 30, 2026, pertaining to Assessment Year 2021-22 (Financial Year 2020-21).The notice stemmed from information received from the Directorate General of GST Intelligence (DGGI), Surat Zonal Unit, which flagged observations related to GST compliance from January 2021 to March 2021. The Income Tax Department is examining whether any income chargeable to tax escaped assessment for the Assessment Year 2021-22.The company is directed to submit a response with supporting documents through...

Eris Lifesciences Completes Acquisition of Velbiom Probiotics’ Business Eris Lifesciences Limited announced the completion of its acquisition of the probiotics business of Velbiom Probiotics Private Limited. The transaction achieved closure on March 31, 2026, following an initial notification provided on March 20, 2026. The acquisition details were previously outlined in the earlier notification. Milind Talegaonkar, Company Secretary & Compliance Officer, confirmed the completion.Source:

Cupid Limited Announces Strongest Quarter, Forecasts Revenue of ₹600 Cr in FY27 Mumbai, March 31, 2026 (BSE: 530843 | NSE: CUPID) – Cupid Limited, a premier manufacturer of male and female condoms, water-based personal lubricants, and In Vitro Diagnostics (IVD) kits, announced its strongest quarterly performance in the company’s history. The company is set to surpass its FY26 annual guidance of ₹335 crore in revenue and ₹100 crore in net profit.Cupid Limited indicated expectations of achieving revenue of at least ₹600 crore in FY27 and a net profit margin in excess of 30%.The company cited robust growth across key business segments, strong execution, improving operating leverage, and sustained demand momentum as drivers of the...

Ramkrishna Forgings Commences Commercial Production of Horizontal Casting Line Ramkrishna Forgings Ltd. announced the commencement of commercial production for its Horizontal Casting Line, "DISA FLEX 80," on March 31, 2026. The new line, located at the company’s PLANT VIII in Jharkhand, has a production capacity of 28,800 metric tonnes per annum.The company stated the casting line is designed to meet quality standards and customer requirements. The total investment for the expansion amounts to Rs. 249.00 Crores, financed through a mix of debt and internal accruals.According to a company statement, the expansion is intended to broaden Ramkrishna Forgings' product offerings in the automotive casting sector, allowing the company to...

Manali Petrochemicals Receives Madras High Court Order Regarding Labor Dispute Manali Petrochemicals Ltd. announced on March 31, 2026, that the Hon'ble Madras High Court has issued a common order disposing of Writ Petitions (W.P. Nos. 5850, 5851 of 2016 and 2731 of 2023). These petitions were previously filed by the company challenging awards passed by the Industrial Tribunal, Chennai in I.D. Nos. 35 of 2006 and 51 of 2004, concerning wage revision and service conditions for workmen.The company is currently evaluating the financial and legal implications of the court’s order in consultation with legal counsel and will take appropriate steps as advised. Manali Petrochemicals stated that it will update the stock exchanges on any further...

Advait Energy Transitions Ltd. Secures Battery Energy Storage System Project in Gujarat Advait Energy Transitions Ltd. has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) to establish 150MW/300MWh standalone Battery Energy Storage Systems (BESS) in Gujarat. The project will be executed under a Tariff-Based competitive bidding process (Phase-VIII), featuring Viability Gap Funding supported through PSDF and E-RA.The contract involves setting up the BESS projects within a domestic context. The execution period is 18 months from the date of the Battery Energy Storage Purchase Agreement. The project’s broad consideration is Rs 2,10,000 per MW per month, inclusive of taxes.According to company disclosures...

Kitex Garments Limited Invests ₹171.23 Crores in Subsidiary Kitex Apparel Parks Limited Kitex Garments Limited, along with Kitex Childrenswear Limited, has invested an additional ₹171.23 Crores in Kitex Apparel Parks Limited, a subsidiary company. Of the total investment, 70% was contributed by Kitex Garments Limited.Kitex Apparel Parks Limited, incorporated in India on November 18, 2021, has a paid-up capital of ₹601,79,00,000. The company’s turnover from business operations was nil until fiscal year 2024-25, as it commenced business operations in fiscal year 2025-26. The company is engaged in the establishment and operation of a textile manufacturing facility producing yarn, fabrics, and garments including children's wear.The...

AvenuesAI Subsidiary Rediff.com India Limited Files Pre-Draft Red Herring Prospectus for Proposed IPO AvenuesAI Limited announced that its subsidiary, Rediff.com India Limited, has filed a Pre-Filed Draft Red Herring Prospectus (Pre-DRHP) with the Securities and Exchange Board of India, the BSE Limited, and the National Stock Exchange of India Limited. This filing pertains to a proposed initial public offering (IPO) of Rediff’s Equity Shares under Chapter IIA of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Stock trading guideThe IPO is planned for the main board of the BSE Limited and the National Stock Exchange of India Limited. AvenuesAI Limited noted that the filing of...

Emami Ltd. to Acquire Remaining Stake in Axiom Ayurveda Emami Limited announced on March 31, 2026, that its Board of Directors approved the purchase of approximately 73.5% of the paid-up capital of Axiom Ayurveda Private Limited (AAPL), an associate company, from existing shareholders. This acquisition will increase Emami’s ownership in AAPL to 100%, making it a wholly-owned subsidiary.The total consideration for the acquisition is up to Rs. 200 Crores. The transaction is expected to be completed by June 30, 2026.Axiom Ayurveda Private Limited was incorporated on November 14, 2019, in Haryana. The company operates in the Fast Moving Consumer Goods sector, specifically in the healthy beverage segment. It has a registered office in...

HDFC Life Board to Review FY’26 Financial Results on April 16 HDFC Life Insurance Company Limited announced that a meeting of its Board of Directors is scheduled for Thursday, April 16, 2026. The board will consider the audited standalone and consolidated financial results for the quarter and year ending March 31, 2026. Additionally, the board will consider a recommendation for a final dividend, if any, for the financial year ending March 31, 2026.In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, a trading window will be closed for promoters, designated persons, directors, and their immediate relatives from April 1, 2026, to April 18, 2026, inclusive.Source:

Kamdhenu Ventures Subsidiary Board Approves Right Issue of Shares Kamdhenu Colour and Coatings Limited (KCCL), a wholly-owned subsidiary of Kamdhenu Ventures Limited, announced the approval to issue shares on a rights basis to its existing shareholders. The decision was made at a board meeting held on Tuesday, March 31, 2026.The board authorized the issuance of 3,800 equity shares with a face value of Rs. 10 each, priced at Rs. 36,000 per share. The total amount to be raised through this rights issue is Rs. 13,68,00,000.The rights issue offer letter will be dispatched on March 31, 2026, and the offer will be open for subscription from April 4, 2026, to April 10, 2026, inclusive.The Investment committee of Kamdhenu Ventures Limited...

PNC Infratech Limited Announces Resignation of CFO PNC Infratech Limited announced on March 31, 2026, that Devendra Kumar Agarwal has resigned from his position as Chief Financial Officer (CFO) due to health issues. The resignation has been accepted by the Board of Directors and will be effective from the close of business hours on March 31, 2026.According to a regulatory filing, Mr. Agarwal confirmed that there are no material reasons for his resignation beyond those stated in his resignation letter.The company is currently in the process of appointing a new CFO, and further details will be provided to the stock exchanges in due course. Corporate actions calendarDetails of the CFO Change:ParticularsDetailsReason for...

Cera Sanitaryware Limited Receives Demand Order from Andhra Pradesh Authority Cera Sanitaryware Limited announced the receipt of a demand order from the Deputy Commissioner, Gudur, Chittoor, Andhra Pradesh, on March 30, 2026. The order, issued under sections of the CGST Act, 2017 and the Andhra Pradesh GST Act, 2017, pertains to the financial year 2019-2020.The demand order totals Rs. 44,58,234, comprised of Rs. 20,21,225 for taxes and Rs. 24,37,009 for penalties. The authority alleges that Cera Sanitaryware Limited short paid taxes and availed excess Input Tax Credit.Cera Sanitaryware Limited stated that the company does not anticipate a material impact on its financials, operations, or other activities resulting from the order...

Aditya Birla Lifestyle Brands Limited Receives Tax Order Aditya Birla Lifestyle Brands Limited announced that the Additional Commissioner of Central Tax, Bangalore-East Commissionerate, issued an order on March 30, 2026. The order, OIO No- 537/GST/ADC/ED5/2026, is in Form DRC-07 and pertains to the company’s business operations, which were previously part of Aditya Birla Fashion and Retail Limited (ABFRL) following a scheme of arrangement effective May 1, 2025.The order imposes a total demand of ₹ 3,10,13,33,083, which includes ₹ 59,06,52,705 in tax, ₹ 23,80,86,318 in interest, and ₹ 2,27,25,94,060 in penalty. The demand stems from an audit proceeding related to the irregular availment of Input Tax Credit (ITC), interest on reversal...

ICICI Prudential Life Insurance Company Limited Receives Order Regarding Maharashtra GST Appeal ICICI Prudential Life Insurance Company Limited announced on March 31, 2026, that it received an order from the Joint Commissioner of State Tax, Appeals, Maharashtra, concerning an appeal filed against an earlier order passed under the Maharashtra Goods and Service Tax Act, 2017, for fiscal year 2019. The appeal petition was partially allowed in favor of the company and partially upholding the tax demand.The tax demand stemmed from reasons including the reversal of input tax credit, a mismatch in Input Tax Credit (ITC) claimed in GSTR-3B, GSTR-2A and GSTR-9, and non-payment of tax on the sale of fixed assets.The financial implications...

Akme Fintrade (India) Limited Secures Term Loan of Rs. 80 Million Akme Fintrade (India) Limited has received sanction for a term loan of Rs. 8,00,00,000 from MAS Financial Services Limited. The loan amount, equivalent to Rupees Eight Crores, was formally sanctioned as of March 31, 2026.Manoj Kumar Choubisa, Company Secretary and Compliance Officer (M. No.: A66176), provided the notification.Source:

Shanti Gold International Limited Revises Incorporation Timeline for Dubai Subsidiary Shanti Gold International Limited announced a revision to the timeline for the incorporation of its wholly-owned subsidiary in Dubai, United Arab Emirates (UAE). The expected date of incorporation has been revised to June 30, 2026, from the previously stated March 31, 2026.The delay is attributed to ongoing geopolitical tensions and conflict in the region. These conditions have caused disruptions to normal business operations and have resulted in delays in obtaining necessary approvals, documentation verification, and the issuance of licenses. Coordination with local authorities and service providers has also been impacted by reduced operational...

Apollo Pipes Limited Postpones Commercial Operations at Mirzapur Plant Apollo Pipes Limited announced a postponement in the commencement of commercial operations at its new manufacturing plant located in Mirzapur, near Varanasi, Uttar Pradesh. The update follows previous notifications on May 20, 2024, May 10, 2025, and January 29, 2026.The company now anticipates the start of commercial production towards the end of April 2026, contingent on achieving operational readiness.Gourab Kumar Nayak, Company Secretary and Compliance Officer, conveyed the information.Source:

Supreme Infrastructure India Limited Allots Equity Shares Upon Warrants Conversion Supreme Infrastructure India Limited announced that its Board of Directors approved the allotment of 7,67,000 equity shares to Mr. Vikas Vijaykumar Khemani following the exercise of his right to convert an equal number of warrants. The allotment was finalized at a meeting held on March 31, 2026.Mr. Khemani received the shares upon payment of a total of Rs. 5,00,12,235, equivalent to Rs. 65.205 per warrant, representing 75% of the warrant exercise price of Rs. 86.94 per warrant. The allotted shares rank pari passu with existing equity shares.As a result of this conversion, the company's issued, subscribed, and paid-up equity share capital has...

Rathi Steel & Power Ltd. Receives Demand Order from State Tax Authority Rathi Steel & Power Ltd. announced that it received a demand order from the Office of the Deputy Commissioner, State Tax, SGST, Sector -11, Ghaziabad, Uttar Pradesh, dated March 30, 2026. The order pertains to Section 74 of the CGST / SGST Act, 2017, and includes a demand for INR 3,06,07,072 along with a penalty of a similar amount and applicable interest.The company refutes the allegations, stating that the demand is not maintainable and that it will pursue appropriate legal remedies. Management does not anticipate a material impact on the company's financial, operational, or other activities as a result of this order.Details of the Demand Order...