Magnum Ice Cream Netherlands has completed the acquisition of a 61.9 per cent majority stake in Kwality Wall’s (India) Ltd (KWIL), resulting in a change in the promoter classification.

“On 30th March, 2026, the Incoming Promoter acquired the Sale Shares from the Outgoing Promoters in accordance with the SPA and other applicable laws,” KWIL said in a regulatory filing.

Pursuant to this transaction, the Incoming Promoter has acquired control over the company and is classified as a “promoter” of the company in accordance with the Listing Regulations, it added.

Meanwhile, the outgoing promoters have been reclassified from the “promoter” category to the public category.

This acquisition is done as per the Share Purchase Agreement (SPA) executed on June 25, 2025, which includes The Magnum Ice Cream Company Netherlands BV and Unilever PLC, among others.

The “incoming Promoter (Magnum) agreed to acquire an aggregate of 145.44 crore equity shares of KWIL” representing 61.9 per cent of the equity share capital of the company from the Outgoing Promoters Unilever.

KWIL has also announced changes at the top level. It has approved the appointment of Abhijit Bhattacharya as an Additional (Non-Executive and Non- Independent) Director of the company and Chairman of the board. While Ritesh Tiwari resigned as Additional (Non-Executive and Non-Independent) Director of the company.

Published on March 31, 2026

Brokerage Emkay Global Financial Services has reiterated a selective stance on metal stocks, with a preference for Steel Authority of India Ltd and Jindal Steel and Power Ltd in the ferrous space, while naming Vedanta Ltd as its top pick among non-ferrous players, according to its latest sector report.

The brokerage said rising geopolitical tensions in West Asia have disrupted key trade routes, pushing up freight costs and reducing the competitiveness of imports. This has supported domestic steel prices and enabled Indian producers to sustain higher realisations.

Domestic steel prices have seen steady gains, with hot rolled coil (HRC) and rebar prices increasing by ₹1,000–₹3,500 per tonne since the onset of the conflict. On a year-to-date basis, this translates to about a 16 per cent rise in HRC prices and a 22 per cent increase in rebar prices, reflecting strong demand and improved pricing power for steelmakers.

Emkay noted that the impact on raw material costs remains contained in the near term due to India’s self-sufficiency in iron ore and adequate coking coal inventories. However, a prolonged disruption could lead to higher input costs, particularly for imported coal, thereby affecting margins.

In the non-ferrous segment, aluminium has emerged as a key beneficiary of supply disruptions. The report highlighted that West Asia accounts for 8–9 per cent of global aluminium supply, and recent curtailments have tightened availability.

Emkay expects aluminium prices to remain elevated in the range of $3,200–$3,500 per tonne, with potential upside if disruptions persist.

Among stocks, Vedanta is seen as well-positioned to benefit from higher aluminium prices, given its significant exposure to the metal. The brokerage also flagged potential value unlocking from the company’s proposed demerger as an additional catalyst.

The report further noted that rising oil and gas prices have driven substitution-led demand for thermal coal, boosting prices and improving realisations for companies such as Coal India Ltd.

Despite the recent correction in metal stocks amid broader market volatility, Emkay maintained a “neutral-to-positive” outlook on both ferrous and non-ferrous segments, advising investors to remain selective as geopolitical uncertainties continue to influence commodity prices and sector dynamics.

Nifty Metal index has corrected over 11 per cent since March 2, 2026. In the previous trading session, the index staged resilience amid the broader market slump. National Aluminium, SAIL, Hindalco and Vedanta emerged as top gainers, while Hindustan Copper depreciated the most.

Published on March 31, 2026

Based on the data uploaded by banks on the Jan Dhan Darshak (JDD) App, almost 100 per cent of villages in the country are covered with banking outlets, the Finance Ministry has informed.

“99.92 per cent of villages in the country and 100 per cent of villages in the UT of Dadra and Nagar Haveli are covered with banking outlets (Bank Branch / BC / IPPB) within a radius of 5 km (as on 06.03.2026),” according to a statement released by the Ministry of Finance.

The Government endeavours to ensure availability of banking outlet (Bank branch / Business Correspondent (BC) / India Post Payments Bank (IPPB)) within 5 kilometres (kms) of all inhabited villages in the country.

Availability of banking outlets is monitored by a Geographic Information System (GIS) based application, namely, the Jan Dhan Darshak (JDD) App. Major impediments in the augmentation of banking infrastructure are a lack of connectivity and infrastructure along with non-availability of suitable premises.

Furthermore, as per the extant RBI guidelines, rolling out of banking outlets in uncovered areas is a continuous process looked after by the State Level Bankers’ Committee (SLBC)/ Union Territory Level Bankers Committee (UTLBC), in consultation with the concerned State Government, member banks and other stakeholders.

Banks, inter alia, consider proposals for opening banking outlets in the light of RBI’s instructions, their business plans and commercial viability. To further assess the viability of opening a banking outlet, banks carry out surveys as required.

This information was given by the Minister of State in the Ministry of Finance, Pankaj Chaudhary, in the Lok Sabha today.

Published on March 31, 2026