Bharat Electronics Limited (BEL) has signed a Memorandum of Understanding (MoU) with RRP Electronics Limited and RRP Defence Limited, both part of the RRP Group, a leading integrated technology company specialising in advanced manufacturing of semiconductors and Aerospace & Defence systems, to jointly pursue business opportunities in the domains of Semiconductors, Electro-Optics, Unmanned Systems and other advanced Defence technologies. This collaboration marks a significant milestone in India’s Defence technology landscape, reinforcing national objectives focused on indigenisation and capability acceleration.
The board of United Spirits has entered into definitive agreements for the sale of the 100% equity stake held in its wholly owned subsidiary Royal Challengers Sports Private Ltd to a consortium comprising Aditya Birla Group, The Times of India Group, Bolt Ventures and Blackstone’s perpetual private equity strategy, BXPE, for Rs 16,660 crore in an all-cash transaction. RCSPL owns and operates Royal Challengers Bengaluru (”RCB”) franchises that participate in the Indian Premier League and Women’s Premier League. Upon completion of this transaction, the consortium will, through its ownership of RCSPL, acquire the rights to own and operate the IPL and WPL franchise. This announcement concludes the strategic review of RCSPL initiated by USL on November 5, 2025. The transaction is subject to the satisfactory completion of customary closing conditions and legal, regulatory, and other approvals, including those from the Board of Control for Cricket in India and the Competition Commission of India.
Energy/Power sector
Waaree Energies Ltd has approved the acquisition of an additional equity stake in its subsidiary, Waaree Transpower Private Ltd (formerly Kotsons), increasing ownership from 64.04 per cent to 75.10 per cent via the issuance of 2.53 crore shares at Rs 75 each (Rs 190 crore cash consideration). The board sanctioned Rs 3,900 crore capital expenditure for a 2,500 TPD glass manufacturing plant in the wholly owned subsidiary Waaree Green Glass Private Limited, funded by debt and internal accruals. Waaree Transpower manufactures transformers (oil-filled, dry type, special purpose, renewable energy applications) with 4,000 MVA capacity; FY25 turnover Rs 8.47 crore.
NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC Ltd, has signed a Memorandum of Understanding (MoU) with Nxtra Data Limited (Nxtra) on March 24 at NTPC Bhawan, New Delhi. The MoU was signed by Sarit Maheshwari, CEO (NGEL & NTPC REL) and Ashish Arora, CEO (Nxtra).
The MoU aims to explore business opportunities of mutual interest to develop Renewable Energy Projects for the supply of RE RTC power to Nxtra Datacenters on a pan-India basis for their captive consumption.
ACME Solar Holdings Ltd, through its wholly owned subsidiary, i.e. ACME Surya Power Private Limited, has commissioned the second phase of 35.714 MW / 160.48 MWh out of the 250 MW / 1103.392 MWh capacity of the Battery Energy Storage System (BESS) Project located at Village: Jaimalsar, Dist: Bikaner, State: Rajasthan. The Commercial Operation Date (COD) for the stated phase II will be March 26.
Steel/gold mining
Tata Steel Limited has acquired 178,57,14,286 equity shares, valued at USD 180 million, in its wholly owned subsidiary, T Steel Holdings Pte. Ltd, as part of an ongoing fund infusion program since May 2025. The transaction, valued at ₹1,680.27 crore, was completed on March 24, 2026, with full regulatory compliance under SEBI listing obligations.
Jindal Steel has completed its 6 MTPA expansion at its Angul Integrated Steel Complex in Odisha by commissioning the third Basic Oxygen Furnace (BOF-3) of 3 MTPA, taking the plant’s total crude steel capacity to 12 MTPA, positioning it among India’s largest single-location integrated steel complexes.
Less than two years after announcing a 40 per cent expansion in its melting capacity, India’s leading stainless steel manufacturer, Jindal Stainless, has commissioned the 1.2 million tonnes per annum (MTPA) stainless steel melt shop (SMS) in Indonesia, developed through the company’s joint venture, ahead of schedule. The company’s total melting capacity will hence be ramped up to 4.2 MTPA, including 3 MTPA in India.
Deccan Gold Mines Limited (Deccan Gold), India’s only listed gold and critical minerals mining company, has commenced diamond drilling programmes across two high-potential critical minerals projects in India and Europe, marking a significant step in advancing its strategic resource portfolio. The Company has initiated drilling at its Bhalukona Nickel-Copper-PGE project in Chhattisgarh, aimed at testing subsurface mineralisation in zones identified through anomalous rock chip sampling and supported by promising geophysical signatures.
Tax Demand
HDFC Life Insurance Company has received an Income Tax order asking it to pay a little over ₹172 crore. The order from the Income Tax authorities in Mumbai, totalling ₹126.46 crore in tax demand, ₹45.55 crore in interest, and nil penalty, is for the Assessment Year 2023-24 (financial year 2022-23) and relates to multiple alleged violations.
State-owned general insurer New India Assurance Company has been issued an assessment order by the Income Tax Department asking it to pay more than ₹189.37 crore for AY2023-24. The order was issued by the National Faceless e Assessment Centre, disallowing certain expenses, New India Assurance said in a filing on Tuesday.
Rights/bonus/pref issues
The board of Dev Accelerator has approved a fundraise of up to ₹35 crore through the preferential issuance of Convertible Warrants and Equity Shares to Promoters and Non-Promoter investors, subject to shareholder approval and applicable regulatory compliances. The proceeds from this fundraise will be exclusively utilised towards the payment of an interest-free refundable security deposit of ₹35.10 crore for securing a managed workspace in Ahmedabad. The company has entered into a Letter of Intent (LOI) for approximately 4,50,000 sq. ft. of space in a to-be-constructed building proposed to be named “Winston”, located on Bopal-Ambli Road, Ahmedabad. The centre will be operated under DevX’s Straight Lease Model.
Triton Valves Ltd has fixed April 1 as the “Record Date” for determining the entitlement of Equity Shareholders for the purpose of the issue of bonus equity shares in the ratio of 3:1.
The board of Gujarat Cotex Ltd has approved key terms for the rights issue of 8,54,64,000 fully paid-up equity shares of Rs 5 face value at par (Rs 5 per share), aggregating Rs 42.73 crore. Shareholders receive 6 rights shares for every 1 held as of the record date, April 1, 2026. Issue opens April 10, closes May 8, 2026; market renunciation deadline May 5.
Order wins
Ceigall India Ltd has received 2 (two) Work Orders dated 23rd March, 2026, from Purvah Green Power Pvt Ltd to be executed in the State of Andhra Pradesh. An order worth Rs. 119.96 crore (inclusive of GST) for supply, transportation, erection, including civil work on a turnkey basis for a 220 kV transmission line, including the Right of Way and statutory approvals – Work Order No. 300000188.
Cosmic CRF Ltd has received purchase orders worth Rs 32.54 crore (inclusive of GST) from multiple Indian Railway divisions for wagon components. The domestic supply contracts are to be fulfilled within 4-6 months. In a separate notice, it said that it subsidiary NS Engineering Projects Private Ltd has bagged an order worth Rs. 8.35 crore (inclusive of GST) to be completed by September. Sharika Enterprises Ltd partners with Larsen & Toubro Limited, Chennai, for the supply of 998 Communicable Overhead Fault Passage Indicators (FPI), for the ultimate customer Paschimanchal Vidyut Vitran Nigam Limited, Varanasi, under the Government of India’s Revamped Distribution Sector Scheme.
Other key announcements
Pasupati Acrylon Ltd has announced that shipments of raw materials are delayed by 15-20 days due to the ongoing war in the Middle East. Since the raw materials could not reach the plant due to logistics disruptions, the Company’s Acrylic Fibre plant has been temporarily shut down from March 24 until the first half of April 2026, depending on the arrival of the vessel carrying the raw materials.
IKS Health, a global leader in care enablement solutions, and Certilytics, Inc., an innovator in AI-driven healthcare intelligence, have announced an expansion of their strategic partnership. The new collaboration is designed to bridge the historic divide between payers and providers by turning predictive insights into safe, coordinated clinical actions.