Markets

Panacea Biotec Receives Demand Order for ₹22.88 Crore Panacea Biotec Limited announced it received a Demand Order dated March 30, 2026, from the Office of the Joint Commissioner, Central Goods & Services Tax (CGST) Sub-Commissionerate Mohali, Chandigarh. The demand aggregates to approximately ₹22.88 crore, encompassing ₹11.44 crore for alleged non-payment of Goods and Services Tax and ₹11.44 crore in penalties.The demand stems from a previous Show Cause Notice received on September 27, 2025, concerning the alleged non-payment of GST on a corporate guarantee of ₹864 crore provided for 1,074 days, from April 6, 2019, to March 15, 2022. The company filed a writ petition with the Punjab & Haryana High Court in November 2025, which has...

NCC Limited Secures New Orders Worth Rs. 2469.53 Crore in March 2026 NCC Limited announced the receipt of five new orders totaling Rs. 2469.53 Crore (excluding GST) during March 2026. The new order intake reflects continued business momentum across several divisions of the company.The awarded projects are segmented across the Water, Buildings, and Transportation divisions, contributing Rs. 1291.9 Crore, Rs. 793.48 Crore, and Rs. 384.15 Crore respectively.DivisionOrder Value (Rs. Crore)Water1291.9Buildings793.48Transportation384.15Total2469.53These orders represent standard business activities and do not involve any internal orders. Additionally, the company confirmed that the Promoters, Promoter Group, or Group...

Kamdhenu Ventures Limited Appoints Rohit as Company Secretary and Key Managerial Personnel Kamdhenu Ventures Limited announced the appointment of Mr. Rohit as Company Secretary and Key Managerial Personnel for its wholly-owned subsidiary, Kamdhenu Colour and Coatings Limited (KCCL), effective April 1, 2026. The appointment was approved unanimously by the KCCL’s Board of Directors during a meeting held on March 31, 2026, on the recommendation of the Nomination and Remuneration Committee and Board of Directors of Kamdhenu Ventures Limited.Mr. Rohit, who currently serves as Company Secretary and Compliance Officer of Kamdhenu Ventures Limited, will hold the position with effect from April 1, 2026. He is a member of the Institute of...

NGEL Signs MoU with PTC India Limited for Renewable Energy Collaboration NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, announced on March 31, 2026, that it has signed a Memorandum of Understanding (MoU) with PTC India Limited.The agreement explores potential collaborations for the sale of Renewable Energy (RE) power through bilateral arrangements and other market mechanisms. The MoU was signed by Sarit Maheshwari, CEO (NGEL), and Dr. Manoj Kumar Jhawar, CMD (PTC) India Limited, in a ceremony attended by senior officials from both organizations.Source:

Banco Products (India) Limited Announces Resignation of Whole-time Director and CTO Banco Products (India) Limited announced that Mr. Venkata Ranganath Kumar Sami has resigned from his position as Whole-time Director (Innovations) & Chief Technical Officer (CTO), effective March 31, 2026, following the close of business hours. The resignation is due to personal reasons.Mr. Sami’s resignation letter was submitted on January 2, 2026, and includes a notice period of three months, culminating in his last working day on March 31, 2026.The following table details the changes:ParticularsDetailsReason for ChangeResignation as Whole-time Director (Innovations) & Chief Technical Officer (CTO)Date of Cessationw.e.f. March 31, 2026...

Presstonic Engineering Limited Secures Order from Alto-Shaam Inc. Presstonic Engineering Limited announced on March 31, 2026, that it has secured an order from Alto-Shaam Inc., USA. The order, received on the same date, represents a strategic diversification for the company beyond its core Metro and Railway business segments.The order for commercial kitchen accessories carries a value of USD 384,144.30, equivalent to INR 3,61,41,640. The contract involves export of the products, under purchase order number ASI-AGMT-0474.This achievement is viewed as a key milestone in the company’s expansion into new industry verticals, strengthening its order book and highlighting its ability to identify and capitalize on new opportunities...

Maruti Suzuki India Limited Receives Adjudication Order from Haryana GST Authority Maruti Suzuki India Limited (MSIL) announced it has received an Adjudication Order from the Haryana GST Authority. The order pertains to a tax demand related to Tax Credit Notes for the period April 2019 to March 2024.The Haryana GST Department confirmed a tax demand of Rs. 384.17 million, along with applicable interest, and a penalty of Rs. 384.17 million. MSIL intends to file an appeal against the order to the first appellate authority.According to the company, the Adjudication Order is not expected to have a major impact on its financial, operational, or other activities. The order was received on March 31, 2026.DetailInformation...

Vishal Fabrics Ltd. Receives Rectification Order Regarding Input Tax Credit Vishal Fabrics Ltd. announced that it received a Rectification Order from the Office of Commissioner Central GST & Central Excise, Ahmedabad - North, on March 31, 2026. The order revises a previously imposed penalty related to excess/incorrect Input Tax Credit claimed by the company.Previously, on December 31, 2025, the company received an order imposing a penalty of Rs. 24,26,74,876. The Rectification Order reduces the penalty to Rs. 21,35,65,819 under provisions of the CGST/Gujarat GST Act, 2017, the IGST Act, 2017, and the GST (Compensation to states) Act, 2017.The company believes that the revision will have no material financial impact.Table...

Jyothy Labs Resolves ₹110.64 Crore Tax Demand Jyothy Labs Limited announced that it received an Income-tax assessment order on March 30, 2026, under Section 143(3) of the Income-tax Act, 1961 for Assessment Year 2024-25, raising a tax demand of ₹110.64 Crore, including interest of ₹21.84 Crores.Subsequently, on the same date, the company received a rectification order under Section 154 of the Act. Based on a suo-motu rectification by the Income-tax Department, the entire tax demand, including applicable interest, has been nullified.The initial demand stemmed from computational errors during the processing of the Return of Income and issues related to recurring matters. The company has previously received favorable orders from the...

Sangani Hospitals Limited Completes Acquisition of Sadbhavna Hospital Sangani Hospitals Limited announced the successful completion of its acquisition of a 55% stake in Sadbhavna Hospital and Medical Research Centre Private Limited on March 31, 2026. The acquisition, previously approved on March 28, 2025, involves a cash consideration of Rs. 18,81,00,000 (Rupees Eighteen Crores Eighty-One Lakhs only).As a result of the acquisition, Sadbhavna Hospital and Medical Research Centre Private Limited has become a subsidiary of Sangani Hospitals Limited.The acquisition was executed at a share price of Rs. 15,390 (Rupees Fifteen thousand three hundred and ninety Only) per share. Sangani Hospitals Limited acquired 12,223 (Twelve Thousand Two...

Diligent Media Corporation Receives GST Demand Order Diligent Media Corporation Ltd. announced it has received a Goods and Services Tax (GST) Demand Order from the Office of the Assistant Commissioner of State Tax in Mumbai. The order pertains to the tax period of fiscal year 2019-20.According to the order, the company is directed to remit approximately Rs. 3.99 crores, encompassing Rs. 1.26 crores in interest and Rs. 1.47 crores in penalty. The demand arises from the purported non-levy of GST on the transfer and assignment of leasehold rights of an industrial plot in Mumbai, which was sold to M/s CTRL S (India) Pvt. Ltd. The tax authority considers this transfer a taxable supply of services under the Central Goods and Services Tax...

Oval Projects Engineering Ltd. Disagrees with Recent CRISIL Rating Rationale Oval Projects Engineering Limited (OPEPL) has stated that a recent rating rationale issued by CRISIL Ratings Limited on March 30, 2026, does not accurately reflect the company’s position. The rationale, which revised ratings on OPEPL's bank facilities, indicates an "Issuer not cooperating" status.According to a statement released by OPEPL, the company formally disputed the basis of the rating as early as November 2023, citing concerns that it did not account for updated information previously submitted. OPEPL subsequently requested the withdrawal of the rating mandate and sought clarification on the process, submitting banker No Objection Certificates (NOCs)...

Lloyds Engineering Works Limited Grants Employee Stock Options Lloyds Engineering Works Limited announced that its Nomination and Remuneration Committee (NRC) approved the granting of Employee Stock Options (ESOPs) under the Lloyds Steels Industries Limited Employee Stock Option Plan -2021. The decision was made at a meeting held on Tuesday, March 31, 2026. Stock portfolio managementA total of 69,71,000 ESOPs were granted to eligible employees of Lloyds Engineering Works Limited, with an exercise price of ₹ 9.50 per option. Additionally, 12,29,000 ESOPs were granted to eligible employees of Techno Industries Works Limited, a subsidiary of the Company, also at an exercise price of ₹ 9.50 per option.The Lloyds Steels Industries...

RNIT AI Solutions Ltd. Completes ₹26.33 Crore Preferential Allotment Hyderabad, March 31, 2026 – RNIT AI Solutions Limited ('RNIT'), a provider of Artificial Intelligence (AI) and digital transformation solutions, has successfully completed a preferential allotment of equity shares aggregating to approximately ₹26.33 crore.The allotment follows a Resolution Plan approved by the Hon'ble National Company Law Tribunal (NCLT), Jaipur Bench, vide its order dated September 23, 2024. The Board of Directors approved the allotment of 52,66,537 equity shares of face value ₹10 each at a price of ₹50 per share, including a premium of ₹40 per share, to strategic investors under the Public (Non-Promoter) category.The issue garnered participation...

Maxgrow India Ltd. Schedules Board Meeting to Review Financial Results Maxgrow India Limited (formerly Frontline Business Solutions Limited) announced a correction to a previously issued notice regarding an upcoming board meeting. The meeting is scheduled for Friday, April 3, 2026.The board will convene to consider and approve the Unaudited Standalone & Consolidated Financial Results for the quarter and nine months ended December 31, 2025, as well as address other matters with the Chair’s permission. The company initially stated the results were for the quarter and year ended March 31, 2026, which was an error.Shivkumar Ramsagar Pasi, Managing Director, will preside over the meeting. The company’s stock symbol on the BSE Limited is...

Megamont Limited Announces Promoter Share Transfer Megamont Limited, formerly known as VR Woodart Ltd, announced a share purchase agreement involving its promoter entity, Faze Three Limited, and new promoters Mounica Maddukuri and Mrs. Minal Patil.According to the agreement, Faze Three Limited has committed to selling its entire shareholding in the company to Ms. Maddukuri and Mrs. Patil. The transaction details, including the number of shares involved and the sale price, were not disclosed.The change in ownership is reflected in the company's ISIN: INE317D01014 and Scrip Code: 523888, which are listed on the BSE Limited.Minal Patil, Whole-Time Director (DIN:10579156), confirmed the transaction.Source:

Mukka Proteins Limited Acquires Remaining Stake in Haris Marine Products, Creates Wholly Owned Subsidiary Mukka Proteins Limited announced the completion of an acquisition, resulting in Haris Marine Products Private Limited becoming a wholly owned subsidiary of the company, effective March 30, 2026. The acquisition involved purchasing 2,000 equity shares of Haris Marine Products Private Limited, with a face value of Rs. 100 each, for a total consideration of Rs. 19,64,000.Haris Marine Products Private Limited, established on October 30, 2019, is a manufacturer and exporter of fish meal and fish oil. According to the company, Haris Marine Products Private Limited's turnover for the fiscal year 2024-25 was nil, with a profit after tax...

Shantidoot Infra Services Ltd. Board Approves Capital Increase and Rights Issue Shantidoot Infra Services Ltd. announced on March 31, 2026, that its Board of Directors approved a significant increase to the company’s authorized share capital and a proposed rights issue to raise funds.The authorized share capital will increase from ₹3,00,00,000 divided into 30,00,000 equity shares of ₹10 each to ₹13,00,00,000 divided into 1,30,00,000 equity shares of ₹10 each. This increase is subject to approval from the company's shareholders.The Board also approved a rights issue to raise up to ₹12,00,00,000 through the issuance of equity shares with a face value of ₹10 each. The terms and conditions of the rights issue, including the record date...

Viviana Power Tech Limited Receives New Turnkey Contract Worth Rs. 50.61 Crore Viviana Power Tech Limited announced it has been awarded a new turnkey contract from Paschim Gujarat Vij Company Limited (PGVCL), an existing client. The contract is valued at Rs. 50,60,87,055.00 (Rupees Fifty Crore Sixty Lakhs Eighty-Seven Thousand Fifty-Five Only), inclusive of taxes.The scope of work involves the supply and installation of 11 kV AL-59 ACS Medium Voltage Covered Conductor (MVCC) along with accessories and reinforced bar lattice poles. These will be deployed across coastal feeders in the Bhuj, Bhavnagar, and Jamnagar Circles of PGVCL, contributing to the Cyclone Resilient Network under the Viksit Gujarat Scheme.The project is expected to...

Elecon Engineering Company Limited Pays Penalty to Obtain Release Order Elecon Engineering Company Limited announced that it has paid a penalty of ₹ 11,98,800 to the Dy. Commissioner of State Tax, Enforcement, Div-8, Surat, to obtain a release order related to a dispute concerning a transport vehicle detained due to a name mismatch in a consignment.The incident occurred on March 30, 2026. Elecon Engineering Company Limited anticipates filing an appeal for a refund against the order before the appropriate authority and does not foresee a material impact on its financial or operational activities. The company received formal notice from the authority on March 31, 2026.Details of the Action: The following table summarizes the details...