The board of Samhi Hotels has approved a significant investment to acquire 70 per cent partnership interest and equivalent profit share in Rare India for ₹47.39 crore. Rare India is a New Delhi-based partnership firm specialising in conscious luxury travel aggregation. The transaction comprises a primary capital contribution of ₹23.39 crore and acquisition of existing partnership interests worth ₹24 crore, structured in two successive tranches.
Tata Power has announced its collaboration with Salesforce to digitally transform its rapidly expanding rooftop solar (RTS), EV charging, and smart home solutions businesses. The collaboration reinforces Tata Power’s long-term clean energy roadmap aligned with India’s net-zero ambitions by establishing a secure, intelligent, and fully integrated clean energy ecosystem powered by AI, automation, and data-driven insights. The platform will enable scalable growth, deeper partner and customer engagement, and operational excellence across the renewable energy value chain.
Tax disputes: Meesho, Go Digit
Meesho Ltd has received an assessment order from the Assessment Unit of the Income Tax Department raising a tax demand of ₹1,499.73 crore for the assessment year 2023–24, including applicable interest.
Go Digit General Insurance Ltd informed the exchanges that it has received an order from Chennai GST authorities re-affirming a demand of ₹154.81 crore plus penalty of ₹15.48 lakh for the period July 2017 to March 2022. The demand relates to non-payment of GST on co-insurance premium and reinsurance commission, which the company describes as an industry-wide issue. This follows the Bombay High Court’s earlier direction in July 2025 to re-adjudicate the matter. The company plans to pursue an appeal and evaluate other legal actions against the order.
Cement players: Niraj Cement, UltraTech
Niraj Cement Structurals Ltd has received three major EPC contracts totalling ₹179.65 crore (including GST) from government infrastructure authorities. The Ministry of Road Transport and Highways (MoRTH) awarded a ₹80.12 crore order for constructing vehicular underpasses at Zarap Sawantwadi Junction in Sindhudurg District, Maharashtra, with a 12-month execution period. The National Highways Authority of India (NHAI) granted ₹91.33 crore to the company’s JV for three vehicular underpasses in Odisha, executable in 18 months. Additionally, Odisha’s Public Works Department (PWD) issued a ₹8.20 crore order for a new minor bridge across Jeriguda Nallah at Km 297.520 (NH-326) including approaches, also on 18-month EPC terms.
UltraTech Cement Ltd has informed the exchanges that it has entered into an energy supply agreement and a share subscription and shareholders agreement to acquire a 26.20 per cent equity stake in Sunsure Solarpark Thirty Eight Pvt Ltd. The cash transaction involves an equity investment of up to ₹6.72 crore. According to the cement major, this strategic acquisition is aimed at meeting its green energy needs, optimising energy costs, and ensuring compliance with regulatory requirements for captive power consumption under electricity laws.
Order wins: RailTel, RITES, United Drilling, 3C IT Solutions
Sun Drops Energia Ltd, subsidiary of KPI Green Energy, has executed a battery energy storage purchase agreement (BESPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) following a Letter of Intent received on January 3, for developing self-owned Independent Power Producer (IPP) standalone Battery Energy Storage System (BESS) projects totalling 445 MW/890 MWh capacity at multiple Gujarat locations. The projects emerged from GUVNL’s tariff-based competitive bidding under Phase-VII, supported by Viability Gap Funding (VGF) via the Power System Development Fund (PSDF).
RailTel Corporation of India Ltd has received a Letter of Acceptance (LoA) worth ₹26.73 crore from South East Central Railway for a comprehensive optical fiber cable (OFC) infrastructure project. The order encompasses supply, transportation, trenching, laying, backfilling, horizontal directional drilling, HDPE pipe insertion, blowing, jointing, and termination of OFC and has to be executed by March 5, 2027.
RITES Ltd has received a major work order worth ₹45.19 crore from Public Works (Roads) Directorate, Government of West Bengal, for consultancy services as Project Management Consultant. The contract covers entire design and construction supervision as Authority Engineer for a proposed 4-lane extra dosed bridge over river Muriganga including approaches, connecting Kachuberia (Sagar Island) with Kakdwip in South 24 Parganas district. The domestic order carries a 48-month execution period.
United Drilling Tools Ltd, a leading oil drilling equipment manufacturer and services provider, has received a domestic commercial order worth ₹3.73 crore from Oil and Natural Gas Corporation Ltd (ONGC). The order involves the supply of large OD casing pipes executable within 5-6 months.
3C IT Solutions & Telecoms (India) Ltd has received a purchase order of ₹3.21 crore for supply of Lenovo laptops. The order has been received in the ordinary course of business and reflects the growing demand for products/services and reaffirms our commitment to providing high-quality solutions to organisations.
Pharma stocks: Lupin, Cipla, Neogen Chem, IOL Chem
The board of Kabra Drugs Ltd, which proposes to change its name to ‘Aanjaay Industries Ltd’ and thus marking a strategic pivot towards defence technology, has approved a Bilateral Strategic Comprehensive Joint Venture Agreement with PT. Bhinneka Dwi Persada, an Indonesian firm specialising in strategic defence equipment including Rajawali 330 UAV, Rajawali Cargo Drone, Hovercraft Rajawali TD1000, and MCCV. PT. Bhinneka holds intellectual property rights over these technologies.
Lupin informed the exchanges that the USFDA has concluded an inspection at its manufacturing facility in Ankleshwar from March 2 to 7 and closed with the issuance of a Form-483 with two observations. The company will address the observations and respond to the USFDA within the stipulated timeframe. The company is committed to being compliant with CGMP standards across all our facilities.
A US-based subsidiary of Cipla is recalling over 400 cartons of generic anti-cancer medication due to a manufacturing issue, according to the US Food and Drug Administration (USFDA). Warren (New Jersey)-based Cipla USA, Inc is recalling Nilotinib Capsules in two strengths (150 mg and 200 mg), the US health regulator said in its latest Enforcement Report. The company is recalling the affected lot (271 and 164 cartons) due to “failed tablet/capsule specifications”, it stated.
The board of Neogen Chemicals approved the issuance of 10,00,000 equity shares of ₹10 face value each at ₹1,610 a share (including ₹1,600 premium), aggregating ₹161 crore, through preferential allotment to Cadamba Solutions Private Limited (promoter group entity). Post-allotment, Cadamba’s holding rises from zero to 3.65 per cent, with shares locked-in for 18 months per Regulation 167 of SEBI ICDR Regulations, 2018.
The European Directorate for the Quality of Medicines & Health Care (EDQM) has granted a Certificate of Suitability (CEP) for IOL Chemicals and Pharmaceuticals Limited’s API product “Metformin Hydrochloride Process-II” on March 5 in addition to the existing valid CEP already held by the company. Metformin Hydrochloride is an anti-diabetic drug which is used to manage high blood sugar levels in diabetes patients.
Banks: Kotak Mahindra Bank, YES Bank, AU Small Finance
AU Small Finance Bank has informed the exchanges that the Reserve Bank of India has modified its in-principle approval to become a universal bank. Previously, RBI stipulated that promoters/promoter group shareholding in the transitioned Universal Bank must be held through a Non-Operative Financial Holding Company (NOFHC). This NOFHC requirement is now deferred and will only apply if the Bank or its promoter group establishes any new group entity in the future.
Kotak Mahindra Bank has informed the bourses that the Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha to the board as a Whole-time Director (Executive Director) and Key Managerial Personnel. Following the approval, Saha’s appointment took effect immediately.
YES Bank has appointed veteran Vinay Muralidhar Tonse as its managing director and chief executive officer (designate) following the receipt of approval of the Reserve Bank of India. Tonse would serve in the designated role from March 12, 2026, until April 5, 2026. He is slated to officially take the helm as the full-time MD and CEO on April 6, 2026, YES Bank said.
Coromandel, Maruti, GAIL
Coromandel International Ltd had announced regarding setting up of Phosphoric acid (PA) and Sulphuric acid (SA) plants at Kakinada, Andhra Pradesh. In line with our earlier indication to commission the PA and SA plants in Quarter 4 of FY 2025-26, the Company has commenced trial production at the new facilities. Operations are currently being stabilised and will be progressively ramped up in a phased manner to achieve the rated capacities of 650 Tonnes Per Day (TPD) for PA and 2,000 TPD for SA.
Maruti Interior Products has announced that its Rights Issue Committee approved key terms for a rights issue aggregating up to ₹45.30 crore following BSE in-principle approval. The issue comprises 4,53,00,000 fully paid-up equity shares of ₹10 face value each at ₹10 per share (no premium), offered at a 3:1 rights entitlement ratio to eligible equity shareholders as of the record date, March 12, 2026. Assuming full subscription, post-issue outstanding equity shares will rise to 6,04,00,000 from the current 1,51,00,000.
The ongoing war in West Asia has adversely impacted the supply of Liquefied Natural Gas (LNG). In this regard, GAIL (India) Limited (GAIL), the Company’s supplier of Re-gasified Liquefied Natural Gas (RLNG), has received a Force Majeure Notice from its upstream supplier, Petronet LNG Limited (PLL), citing transit constraints affecting the supply of LNG. Since the supply of RLNG to Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) under its agreement with GAIL is dependent upon the receipt of RLNG by GAIL from PLL, GAIL has consequently issued a Force Majeure Notice to GNFC.
Flomic Global Logistics Ltd has executed the shipment of critical industrial machinery for a steel melting plant from India to Nigeria. The project highlights Flomic’s growing capabilities in handling specialised project cargo and heavy industrial logistics across international routes. The complex project cargo operation involved the transportation of equipment forming a complete production line for a 500 TPD DRI (Sponge Iron) plant, demonstrating Flomic’s expertise in handling heavy and high-value industrial cargo.
Published on March 9, 2026
