Market & News

CG Power & Industrial Solutions announced change in senior management as follows:

Deven Jani, Vice President - Strategic Sourcing who was heading the strategic sourcing function and also taking care of initiatives under i2v (Innovate to Value) and ESG will be moving out of strategic sourcing and re-designated as Vice President - i2v & ESG Head. Under the new role Mr. Deven will take on a focused role as i2v & ESG Leader and cease to be part of the Senior Management Personnel of the Company w.e.f 14 April 2026.

Shirish Shah has been appointed as Vice President - Strategic Sourcing, in the category of Senior Management of the Company w.e.f. 14 April 2026.

JK Tyre & Industries has appointed Mandar Vighnahari Deo has joined the Company as President - India, effective 14 April 2026, as a regular employee, who will form part of the Senior Management.

Larsen & Toubro announced that its wholly owned subsidiary, L&T Realty Properties has completed the acquisition of 100% stake in International Green Scapes on 13 April 2026.

TVS Holdings has received reaffirmation in credit ratings from CRISIL Ratings as under:

Long term bank facility (Rs 650 crore) - CRISIL AA+; Stable (Withdrawn)
Non convertible debentures (Rs 1000 crore) - CRISIL AA+; Stable (Reaffirmed)

Poonawalla Fincorp announced the successful completion of its Qualified Institutions Placement (QIP), raising Rs 2,500 crore.

The issue saw strong participation from institutional investors, long-term funds, reflecting continued confidence in the Company's strategy and growth outlook.

Key Transaction Highlights: 

• The Company issued 67,430,883 equity shares of face value Rs 2 each to Qualified Institutional Buyers (QIBs) at an issue price of Rs 370.75 per equity share. The issue price represents a 5% discount to the floor price of Rs 390.26 per equity share, resulting in aggregate proceeds of Rs 2,500 crore.
• The QIP, which opened on 09 April 2026, and closed on 13 April 2026, saw subscription from a diversified pool of investors, including Domestic Mutual Funds (MFs), Domestic Insurance Companies, and Foreign Institutional Investors (FIIs).

UCO Bank announced that Rajeev Gupta, General Manager, has been appointed as the Chief Risk Officer (CRO) of the Bank, in place of Shashi Kant Kumar, General Manager.

Indian Overseas Bank announced that the Asset Liability Management Committee (ALCO) of the Bank, in its meeting held on 13 April 2026, has reviewed the MCLR workings as on 10 April 2026 and decided to reduce the Overnight, 1- Year & 2- Year MCLR by 5 bps each w.e.f 15 April 2026. The revised MCLR shall be effective from 15.04.2026. The effective MCLR will be as per details given below until further review.

Overnight - 7.90%
One month - 8.20%
Three month - 8.40%
Six month - 8.65%
One year - 8.75%
Two year - 8.75%
Three year - 8.85%

The board of Life Insurance Corporation of India at its meeting held on 13 April 2026 has approved the issuance of bonus shares in ratio of 1:1.

The existing Authorised equity share capital of LIC is Rs. 25,000 crore and the paid up equity share capital is Rs. 6,324.99 crore. Post proposed bonus issuance of 1:1, the paid up equity share capital shall increase to Rs. 12,649.99 crore. The Reserves & Surplus (In India) stood at Rs. 1,46,440.58 crore as at 31st December 2025 and the Profit After Tax for nine month period ended 31st December, 2025 was Rs. 33,998 crore.

The board of NHPC at its meeting held on 14 April 2026 has approved the proposal for monetization of future cash flow (Return on Equity) of Uri-II & Dhauliganga Power Stations or any other power station(s) for 10 years in single tranche during F.Y. 2026-27.

Minda Corporation announced the incorporation of a joint venture company in the name and style of Spark Minda Turntide. The company's wholly owned subsidiary, Spark Minda Green Mobility Systems holds 49% stake in the new joint venture while 51% stake is held by Turntide Drives , United Kingdom. The venture will engage in the development and manufacturing of advanced new generation motor controllers, axial flux motors, pumps for thermal applications , and other customized controllers tailored primarily for India's growing EV segment including any activities reasonably incidental or ancillary thereto.