Markets

Thermax Subsidiary Secures Boiler Package Order Worth Approximately Rs. 1600 Crore Thermax Limited announced that Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly-owned subsidiary, has secured a significant order. The contract, signed on March 27, 2026, is from M/s Anuppur Powerprojects Private Limited.The order entails the supply and supervision of installation and commissioning of a boiler package for a 1 × 800 MW ultra-supercritical thermal power plant located in Anuppur district, Madhya Pradesh, India. The scope of work includes design, engineering, manufacturing, supply, supervision of installation and commissioning, and conduct of performance guarantee tests.The value of the order is approximately Rs. 1600...

Adroit Infotech Limited Offers Final Opportunity for Payment of Outstanding Calls Adroit Infotech Limited announced that its Rights Issue Committee approved a final opportunity for shareholders to settle outstanding call monies related to a rights issue conducted in February 2024. The decision was made at a meeting held on March 27, 2026.A total of 30,91,222 shares have outstanding call money, amounting to INR 3,03,08,948. The breakdown of the outstanding amounts is detailed below:No of sharesAmountPremiumPaid only Appln money -(Rs.7.50 + Rs.3.75 premium) is due per share18999421,42,49,56571,24,783Paid upto first call -(Rs.5 + Rs.2.50 premium) is due per share119128059,56,40029,78,200T O T A...

Sun Pharma Partners Report Clinical Updates on Fibromun and Nidlegy Sun Pharmaceutical Industries Limited announced updates on Fibromun and Nidlegy, based on clinical data reported by its partner, Philogen, as part of Philogen’s financial results.Regarding Fibromun, the Phase II FLASH study in last-line soft tissue sarcoma did not meet its primary endpoint for Progression Free Survival (PFS), enrolling 94 patients randomized 1:1 to receive either Fibromun + dacarbazine or dacarbazine alone. Similarly, the Phase II GLIOSTAR clinical trial in 163 second-line glioblastoma patients also did not meet its primary endpoint. However, survival improvements were observed in GLIOSTAR among patients with limited exposure to alkylating agents...

Cigniti Technologies Merger with Coforge Awaits NCLT Pronouncement Cigniti Technologies Limited announced on March 28, 2026, that the National Company Law Tribunal (NCLT) has reserved its order for pronouncement regarding the proposed scheme of amalgamation with Coforge Limited. The decision follows proceedings initiated on March 27, 2026.The scheme involves the amalgamation of Cigniti Technologies Limited with and into Coforge Limited, impacting both companies' shareholders and creditors. The process is being carried out under sections 230 to 232 and other applicable provisions of the Companies Act, 2013.Statutory Authorities have indicated their no-objection to the scheme's sanction. Cigniti Technologies will provide updates to...

LIC Receives Income Tax Demand Order Mumbai – March 28, 2026 – Life Insurance Corporation of India (LIC) announced today that it has received a communication/demand order for Income Tax and Interest from the Income Tax Department. The order pertains to the financial year 2023-24.The total demand includes INR 85,76,81,60,095 for Income Tax and INR 17,54,45,02,265 for Interest. LIC intends to file an appeal before the Commissioner of Income Tax (Appeals).The demand arose from disallowances related to the addition of Interim Bonus as Income, addition of Negative Reserve as Income, and disallowance of Deduction u/s 80M.The financial impact of the demand is limited to the stated Income Tax and Interest amount. LIC stated that there is...

Coforge Limited Appoints Vivek Sharma as Independent Director Coforge Limited announced the appointment of Vivek Sharma as an Additional Director and Non-Executive Independent Director, effective April 1, 2026. The appointment was approved by the Board of Directors on March 27, 2026, following a recommendation from the Nomination and Remuneration Committee. Mr. Sharma’s term will extend for five years and is subject to shareholder approval.Mr. Sharma brings extensive experience in advising boards and executive teams on AI, data science, and digital transformation. He currently serves on the boards of Kaiser Permanente and JetBlue Airways (NASDAQ: JBLU). He is also an adjunct professor of data science at the University of Southern...

United Heat Transfer Limited Receives Purchase Order Worth Rs. 93,00,000 United Heat Transfer Limited announced the receipt of a purchase order from Gardner Denver Engineered Products India Private Limited. The order is for the manufacturing and supply of a Shell and Tube Heat Exchanger to be delivered at the company’s domestic plant.The total value of the order is approximately Rs. 93,00,000, excluding tax. The delivery date is scheduled for July 20, 2026. Payment terms for the order are Net 45 days.The order does not involve a related party transaction. A summary of the order details is presented below:ParticularsDescriptionEntity Awarding OrderGardner Denver Engineered Products India Private LimitedPayment TermsNet 45...

HFCL to Host Plant Visits for Institutional Investors in April 2026 HFCL Ltd. announced plans to host plant visits for institutional investors on April 6, 2026, and April 7, 2026. The visits will take place at the company’s Hyderabad and Hosur manufacturing facilities, respectively.During the visits, institutional investors will engage with HFCL’s senior management to discuss general business updates and industry developments. These interactions may occur in group meetings and/or one-on-one sessions. The company noted that the schedule is subject to change. Information already in the public domain will be shared with the investors.The schedule is available on the company’s website at https://www.hfcl.com/.Source:

Markolines Pavement Technologies Limited Submits Scheme Application and Corrects Merchant Banker Details Markolines Pavement Technologies Limited has submitted filings with the National Stock Exchange of India Ltd. and BSE Limited regarding the Scheme of Amalgamation of Markolines Infra Limited with Markolines Pavement Technologies Limited, according to a company update released March 27, 2026.The action follows a board meeting held on March 6, 2026, where the amalgamation scheme received approval.An inadvertent clerical error in the previous Outcome filing resulted in the incorrect listing of the Merchant Banker providing the Fairness Opinion. The correct Merchant Banker is Sobhagya Capital Options Private Limited (SEBI...

Kaiser Corporation Adjourns Board Meeting to Consider Amalgamation Scheme Mumbai – March 27, 2026 – Kaiser Corporation Ltd. announced today the adjournment of its Board meeting, initially scheduled for March 27, 2026. The meeting was to consider and approve a Scheme of Amalgamation involving Emazing Deals Limited and Kaiser Corporation Limited, along with their respective shareholders.According to a statement, the meeting was adjourned to Tuesday, March 31, 2026, due to the need for additional information, clarifications, and expert opinion. The Board meeting commenced Friday, March 27, 2026, and concluded at 9:00 p.m., and will reconvene on March 31, 2026. The amalgamation is being pursued in accordance with Regulation 37 of the SEBI...

Titagarh Rail Systems to Sell Subsidiary Titagarh Singapore Pte. Limited Titagarh Rail Systems Limited announced on March 27, 2026, that its Board of Directors approved the sale of its entire 100% shareholding in Titagarh Singapore Pte. Limited (TSPL) to Worldvmc Singapore Pte. Limited (WSPL).TSPL, incorporated in 2008 to expand the company’s business in overseas markets, has remained dormant and is no longer part of Titagarh Rail Systems' strategic vision. Following the completion of the transaction, TSPL will cease to be a subsidiary of Titagarh Rail Systems, and the name "Titagarh" will be removed from TSPL. The sale is expected to be completed by June 30, 2026, pending statutory approvals.The consideration for the sale is USD...

Sun Pharma Highlights Advances in Alopecia Areata, Psoriasis, and Acne Research at 2026 AAD Annual Meeting MUMBAI, India and PRINCETON, N.J., March 27, 2026 – Sun Pharmaceutical Industries Limited (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) announced it will present 14 abstracts during the 2026 American Academy of Dermatology (AAD) Annual Meeting on March 27-31, 2026, in Denver, Colorado. The data reinforce the company's expertise across dermatology and immunology and its commitment to safe, effective medications for psoriasis, alopecia areata and acne.“The data we are presenting at AAD underscore our commitment to advancing dermatology and immunology through meaningful science – spanning not only clinical...

Thomas Cook (India) Limited Increases Investment in Indian Horizon Marketing Services Limited Mumbai – March 27, 2026 – Thomas Cook (India) Limited announced a further investment of INR 2,50,00,000 (Two Crore fifty lakh Only) in Indian Horizon Marketing Services Limited (IHMSL). The investment, authorized by the company's Sub-Committee of Board of Directors on March 27, 2026, involves the subscription to 25,00,000 Class A Equity Shares of Rs. 10/- each in a preferential offer.The additional investment will be used for the co-development of a Travel AI Platform.IHMSL is a joint venture between Thomas Cook (India) Limited and Atirath Technologies Private Limited, incorporated on December 26, 1989. The preferential offer allotment is...

Pine Labs Limited Receives Penalty from Reserve Bank of India Mumbai – March 27, 2026 – Pine Labs Limited announced today that it has received an order from the Reserve Bank of India (RBI) imposing a monetary penalty.The RBI order, dated March 23, 2026, levies a penalty of Rs. 3,10,000 (Rupees Three Lakh Ten Thousand only) under Section 30(1) read with Section 26(6) of the Payment and Settlement Systems Act, 2007.According to the RBI, the penalty stems from supervisory findings related to the issuance of Full-KYC Prepaid Payment Instruments. The findings indicate that Pine Labs issued these instruments without completing the Know Your Customer (KYC) verification of the respective instrument holders.Pine Labs Limited stated that...

Suditi Industries Ltd. Completes Acquisition of SAA & Suditi Retail Private Limited Suditi Industries Ltd. announced the successful completion of an acquisition on March 27, 2026, acquiring the remaining 50% equity shareholding in SAA & Suditi Retail Private Limited. This acquisition transforms SAA & Suditi Retail Private Limited into a wholly-owned subsidiary of Suditi Industries Limited.The acquisition was conducted at an arm's length basis based on an independent valuation report, with the shareholding acquired from Project Anushka Sharma Lifestyles Private Limited. The cost of acquisition was Rs. 5,000.SAA & Suditi Retail Private Limited, incorporated on September 19, 2017, is engaged in the manufacturing of textile garments and...

MPS Limited Receives Income Tax Assessment Order and Demand Notice MPS Limited announced today that it received an Assessment Order under Section 143(3) of the Income-tax Act, 1961, and a Demand Notice under Section 156 of the Act for the Assessment Year 2024-25. The notices were dated March 23, 2026, and received on March 24, 2026, from the Assessment Unit, Income Tax Department.The assessment order resulted from scrutiny proceedings, with the returned income assessed at a higher amount, leading to a tax demand of INR 9,10,68,600. The variations stem from differences in interpreting specific transactions related to withholding tax and outstanding creditor balances.MPS Limited stated that it believes it has strong factual grounds...

Samhi Hotels Ltd. Allots Shares Under Employee Stock Option Plan Samhi Hotels Ltd. announced the allotment of 9,28,582 equity shares on Friday, March 27, 2026, following the exercise of options granted under the Employees Stock Option Plan - 2023 (ESOP - 2023).The company received in-principle approval for the share issuance from the BSE Limited (letter no. DCS/IPO/JP/ESOP-IP/3120/2023-24 dated March 27, 2024) and the National Stock Exchange of India Limited (letter no. NSE/LIST/39644 dated March 28, 2024). These shares have no lock-in period and will rank equally with existing shares.The company's issued, subscribed, and paid-up share capital increased as a result of the allotment:FromToINR 22,12,06,154 divided into...

JSW Cement to Appeal Order Regarding ITC Disallowance and Penalty JSW Cement Ltd. announced on March 27, 2026, that it received an order from the Additional Commissioner, CGST & C.X. Haldia Commissionerate. The order pertains to the disallowance of Input Tax Credit (ITC) and imposition of a penalty.According to the order dated March 27, 2026, JSW Cement is facing a disallowance of ITC amounting to ₹6,88,81,340 and an associated penalty of ₹6,88,81,340. The authority cited provisions of section 74, alleging suppression of facts, and violations of section 16 conditions, resulting in ineligible ITC.The company believes the order is incorrect and did not adequately consider the company's contentions. JSW Cement intends to file an appeal...

SBFC Finance Ltd. Schedules Board Meeting, Closes Trading Window SBFC Finance Ltd. announced a board meeting scheduled for Saturday, April 25, 2026. The meeting’s agenda includes reviewing and approving the audited financial results for the quarter and fiscal year ending March 31, 2026, and the audited financial statements for the fiscal year ending March 31, 2026.The board will also consider and approve an increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013, pending shareholder approval at the upcoming Annual General Meeting. This proposed increase includes borrowings through debt instruments such as Non-Convertible Debentures and other securities, potentially in multiple tranches.In accordance with the...

Crompton Greaves Consumer Electricals Limited Launches New Stabilizer Crompton Greaves Consumer Electricals Limited announced the launch of a new product, the Energion EA4150 AC Stabilizer (150-280V), on March 27, 2026. The product falls under the B2C Lighting category and is initially targeted for the domestic market.According to a company statement, the product launch reflects a commitment to good corporate governance practices. The company noted the launch did not meet the threshold for materiality.Source: