Author: Legal Parivar

The Finance Ministry welcomed S&P Global Ratings’ decision to upgrade India’s long-term sovereign credit rating to ‘BBB’ from ‘BBB-’ and the short-term rating to ‘A-2’ from ‘A-3’, both with a Stable outlook. The move reflects India’s economic resilience, sustained fiscal consolidation, and robust growth trajectory. This marks the first S&P upgrade since January 2007, when India was elevated to investment-grade ‘BBB-’. The ‘BBB’ rating is the lowest investment-grade level, indicating adequate capacity to meet financial obligations, albeit with moderate credit risk. In a statement, the Finance Ministry said the upgrade underscores India’s commitment to fiscal discipline, infrastructure expansion, and inclusive…

Vodafone Idea reported a net loss of ₹6,608 crore for the quarter ended June 2025, compared to a loss of ₹6,432 crore in the same period last year. Revenue from operations grew 5% YoY to ₹11,023 crore from ₹10,508 crore in Q1FY24. The company’s Average Revenue Per User (ARPU) stood at ₹177, marking a 15% YoY growth from ₹154 in the year-ago quarter. EBITDA rose 10% to ₹4,612 crore versus ₹4,205 crore last year, with EBITDA margin improving by 180 bps to 41.8% from 40%. On August 14, 2025, Vodafone Idea shares closed at ₹6.15, down 3.31% on NSE. The…

On the eve of India’s 79th Independence Day, President Droupadi Murmu praised the nation’s strong economic performance, calling it the fastest-growing major economy in the world with a GDP growth rate of 6.5% in FY 2023-24, despite global economic turbulence. In her Independence Day 2025 address, President Murmu credited India’s robust domestic demand, controlled inflation, rising exports, and rapid infrastructure growth for the country’s economic resilience. She said, “All key indicators show the economy in the pink of health.” Operation Sindoor: A Testament to Defence Self-Reliance and National Unity Highlighting Operation Sindoor, India’s decisive military response to the Pahalgam terrorist…

The Supreme Court will on Thursday hear a plea seeking the restoration of statehood to Jammu and Kashmir, nearly five years after its reorganisation into a Union Territory. As per the causelist, the matter will be taken up by a bench comprising Chief Justice of India B.R. Gavai and Justice K. Vinod Chandran. The petition, filed by academician Zahoor Ahmad Bhat and socio-political activist Khurshaid Ahmad Malik, urges the Centre to restore statehood within two months. It argues that the prolonged delay undermines federal principles enshrined in the Constitution and deprives the people of Jammu and Kashmir of their democratic…

Amid intense protests over the Supreme Court’s recent verdict directing the relocation of stray dogs in Delhi-NCR, Chief Justice of India (CJI) BR Gavai has reconstituted the bench to review the matter. A new three-judge bench, headed by Justice Vikram Nath and comprising Justices Sandeep Mehta and NV Anjaria, will take up the case on Thursday. The matter was earlier being heard by a bench of Justices JB Pardiwala and R Mahadevan. The decision to reconstitute the bench comes after concerns were raised about conflicting directions issued by different benches of the Supreme Court on the same issue. Earlier in…

Indian Railway Catering and Tourism Corporation (IRCTC) on August 13 reported a 7% year-on-year rise in net profit to ₹330 crore for the quarter ended June 30, 2025, compared to ₹308 crore in the same period last year. Revenue from operations grew 4% to ₹1,160 crore in Q1FY26 from ₹1,118 crore a year earlier. Segment-wise, catering revenue saw a marginal decline to ₹547 crore, while tourism revenue jumped 21% to ₹148 crore. Internet ticketing revenue rose 9% to ₹359 crore, and Rail Neer sales remained steady at ₹110 crore. On August 13, IRCTC shares closed 1.1% higher at ₹729 on…

Chennai-based travel and tourism aggregator LGT Business Connextions will launch its initial public offering (IPO) on August 19, with the subscription window open until August 21. The IPO allotment will be finalised on August 21, and the company’s shares are set to debut on the BSE SME platform on August 26. The fixed price issue is set at ₹107 per share. The ₹28.09 crore offering includes a fresh issue of 23.62 lakh shares worth ₹25.28 crore and an offer-for-sale of 2.62 lakh shares valued at ₹2.81 crore by promoter Wilfred Selvaraj. LGT, valued at around ₹100 crore, plans to use…

Indian equity markets witnessed contrasting moves from institutional investors on Wednesday, with Foreign Institutional Investors (FIIs/FPIs) booking profits while Domestic Institutional Investors (DIIs) stepped in with strong buying support. FIIs sold shares worth ₹14,994 crore against purchases of ₹11,350 crore, resulting in net outflows of ₹3,644 crore. In contrast, DIIs bought equities worth ₹13,982 crore and sold ₹8,358 crore, ending the session as net buyers with inflows of ₹5,623 crore. So far in 2025, FIIs have pulled out ₹1.84 lakh crore from Indian equities, while DIIs have injected ₹4.60 lakh crore, maintaining their role as a stabilising force in the…

Venture capital fund Sands Capital Private Growth II has offloaded nearly 1.5% stake in Zinka Logistics Solutions — the tech-driven logistics firm operating under the BlackBuck brand — through open market transactions on August 13. According to bulk deal data from the exchanges, the fund sold 13.44 lakh shares at ₹515.61 per share on the NSE and 12.85 lakh shares at ₹515.72 per share on the BSE, totaling ₹135.6 crore. This latest sale reduces Sands Capital Private Growth II’s holding in Zinka by 1.46%. Combined with an earlier transaction on August 8 involving 10.67 lakh shares, the fund has cut…

Apollo Hospitals is advancing its platform simplification strategy. HealthCo – comprising its digital and allied businesses – will be carved out from the parent entity and merged with Keimed, with the merged business expected to list separately by Q4 FY27. Management is targeting revenues of around ₹25,000 crore with approximately 7% EBITDA margin at the time of listing, driven by economies of scale, operating leverage, and tighter cost controls. The integration with Keimed is aimed at strengthening the supply chain footprint. Keimed already services over 6,000 pharmacies, including Apollo’s own network. The company anticipates Keimed’s margins to improve from about…