Author: Legal Parivar

The International Monetary Fund (IMF) has recommended that Pakistan remove the finance secretary from the State Bank of Pakistan (SBP) board and amend a law to revoke the federal government’s authority to direct inspections of commercial banks, according to media reports on Tuesday. The global lender has also urged Islamabad to promptly fill two vacant deputy governor positions at the SBP. The recommendations were outlined in the IMF’s Governance and Corruption Diagnosis Mission report, which appears aimed at enhancing the central bank’s independence, despite the federal government being the SBP’s sole shareholder. This marks the second attempt in three years…

Following the unexpected resignation of Vice President Jagdeep Dhankhar on July 21, citing “medical advice,” the contest for India’s next Vice President is now underway. The NDA has announced Maharashtra Governor CP Radhakrishnan as its candidate, while the INDIA bloc has nominated former Supreme Court judge B Sudershan Reddy. Originally scheduled for 2027, the 17th Vice Presidential election will now be held on September 9. Historically, of the 16 Vice Presidential elections held so far, four were won uncontested, three due to disqualification of rival nominations, and one due to absence of an opponent. Vice President Election Process The Vice…

Shares of BlueStone Jewellery and Lifestyle Ltd surged more than 6% on their first day of trading on Tuesday, bouncing back from a soft opening and offering modest gains to investors in line with pre-listing grey market projections. On the BSE, the stock debuted at ₹508.80, 1.6% below its IPO price, while on the NSE, it opened at ₹510, a 1.4% discount. Following the initial trade, the share price climbed to an intraday high of ₹542 on both exchanges, reflecting gains of 6.5% on the BSE and 6.3% on the NSE from the opening levels. The listing performance closely mirrored…

Shares of Usha Financial Services, a small-cap stock trading below ₹50, surged 8% in intraday trading on Tuesday, August 19, as the stock went ex-bonus in a 1:1 ratio. The stock opened at ₹47.55, above its adjusted price of ₹45.90, and reached a high of ₹49.70 during the session, marking significant intraday gains. Bonus Record Date and AllotmentThe NSE SME-listed company had announced August 19, 2025, as the record date for determining shareholders eligible for the bonus shares. Investors holding shares on this date will receive one additional share for every share held. The bonus shares are set to be…

Indian equity markets extended their winning streak on Tuesday, August 19, driven by optimism over a potential GST rate cut that could boost consumption. The Nifty 50 rose 0.42% to 24,980, while the S&P BSE Sensex gained 0.46% to close at 81,633. Broader markets outperformed the frontline indices, with the Nifty Midcap 100 climbing 1.2% and the Nifty Smallcap 100 up 0.60%. Sector-wise, Nifty Oil & Gas led the rally with a 1.69% increase, followed by Nifty Media, Nifty Auto, and Nifty FMCG, which rose between 1% and 1.39%. Among the top gainers were OLA, Hyundai Motor, Raymond, Reliance Power,…

Indian equities extended their winning streak for a second consecutive session on Tuesday, August 19, driven by expectations that a proposed GST cut could boost consumer spending. The Nifty 50 rose 0.42% to close at 24,980, while the S&P BSE Sensex gained 0.46% to end at 81,633, supported by attractive valuations after a period of market weakness. Broader markets outperformed the frontline indices, with the Nifty Midcap 100 climbing 1.2% and the Nifty Smallcap 100 advancing 0.60%. Sectoral performance was led by the Nifty Oil & Gas index, which surged 1.69%, followed by Nifty Media, Nifty Auto, and Nifty FMCG,…

The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, on Tuesday approved the Airports Authority of India’s (AAI) plan to build a Greenfield airport at Kota-Bundi in Rajasthan, with a total investment of ₹1,507 crore. The airport will be developed on 440 hectares of land provided by the Rajasthan government and will feature a 3,200-metre runway, seven aircraft bays, two link taxiways, and a modern terminal building covering 20,000 sqm. It is designed to handle 1,000 passengers during peak hours and up to 2 million passengers annually, with the capacity to operate A-321 type aircraft. Kota, known…

Shares of Info Edge India rose 2.02% to ₹1,380.90 on Tuesday, making it one of the top gainers on the Nifty Next 50 index. The company reported steady financial growth, with consolidated revenue for Q1 FY26 at ₹790.86 crore, up from ₹676.71 crore in the same quarter last year. Net profit for the quarter rose to ₹347.38 crore, compared to ₹272.81 crore in June 2024. Quarterly Performance (Q1 FY26) Annual Performance (FY25) The company’s total income for FY25 reached ₹3,922 crore, up from ₹2,950 crore in FY24, with EBIT rising to ₹2,091 crore. Total assets increased to ₹42,771 crore, while…

BSE 500-listed Kama Holdings on Tuesday announced its second interim dividend for the financial year 2025-26. The board approved a substantial payout of 182.50%, translating to ₹18.25 per equity share of ₹10 face value. In an exchange filing on August 19, the company stated, “The Board of Directors at its meeting held today has declared an interim dividend of 182.50% i.e., ₹18.25 per share on the paid-up equity share capital of the Company.” This marks the company’s second-largest dividend and its fourth distribution since the 4:1 bonus issue in October 2023. The record date for dividend eligibility is set as…

Patel Retail, the Maharashtra-based supermarket chain, saw its ₹243 crore Initial Public Offering (IPO) fully subscribed within hours of opening on Tuesday. By 12 PM, the issue was subscribed 1.40 times, indicating robust investor interest. The IPO is currently trading at a grey market premium (GMP) of around ₹45, suggesting strong unofficial market demand. The price band for the IPO is set between ₹237 and ₹255 per share, and the subscription window will close on Thursday, August 21. Grey Market SentimentWith the current GMP of ₹45 and the upper end of the price band at ₹255, Patel Retail shares are…