Author: Legal Parivar

Redington Limited (BSE: 532805 | NSE: REDINGTON) has received a GST demand of ₹148.33 crore, including interest and penalty, from the Additional Commissioner, CGST Gurugram Commissionerate. The demand pertains to GST assessments under Section 74 of the Central Goods and Services Tax Act, 2017, covering the financial years 2018-2019, 2019-2020, and 2021-2022, the company disclosed in a filing to the stock exchanges on December 31, 2025. The order, received and uploaded on the GST portal on December 30, 2025, relates to disallowance of input tax credit claims during the specified financial years. Redington stated that, based on its assessment and…

Hindustan Copper Ltd (HCL) has requested exemption from fines imposed by BSE and NSE for non-compliance with SEBI’s corporate governance norms, according to a company filing dated December 31, 2025. Both exchanges had levied fines of ₹9.77 lakh each on HCL for non-adherence to Regulation 17(1), 18(1), and 19(1) & (2) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, relating to the composition of the Board and the constitution of statutory committees for the quarter ended September 30, 2025. HCL explained that, as a government-owned entity, the appointment of independent directors and part-time non-official directors is under the purview…

Zaggle Prepaid Ocean Services Limited (Zaggle) has announced a strategic partnership with Visa Worldwide Pte. Ltd. to launch and promote co-branded domestic prepaid cards on the Visa network. The agreement, effective for seven years, was disclosed to both the NSE and BSE on December 31, 2025. Under the terms of the partnership, Visa will provide incentives to Zaggle for the launch and promotion of the co-branded prepaid cards, aiming to expand Zaggle’s footprint in the domestic digital payments ecosystem. The contract, classified as a growth agreement, is a domestic transaction with an international partner. Zaggle clarified that neither the promoters…

India’s decision to impose a three-year safeguard duty on select steel products is expected to provide meaningful relief to domestic steelmakers such as JSW Steel, Tata Steel and Jindal Steel, by curbing low-priced imports and creating room for price increases in the coming quarters, industry experts and analysts said. On December 30, the government imposed a safeguard duty ranging between 11% and 12% on certain steel imports to counter dumping, particularly from China. The duty will be levied at 12% in the first year, 11.5% in the second, and 11% in the third year, according to a finance ministry notification.…

The final trading session of 2025 delivered its share of drama as Indian equities staged a sharp rally in afternoon trade. Benchmark indices Nifty 50 and Sensex surged nearly 1% each, while broader markets moved in tandem, reflecting strong risk appetite. Top Gainers Power the Rally The rally was led by heavyweight stocks from the oil & gas, banking and metal sectors. Banking majors such as HDFC Bank, ICICI Bank and Axis Bank witnessed strong buying interest. Among index heavyweights, Reliance Industries emerged as the biggest contributor to the Nifty 50, adding 52.5 points on its own. Metal stocks also…

Bharat Forge on Wednesday announced that it has secured a defence contract worth ₹1,661.9 crore from the Ministry of Defence (MoD) for the supply of indigenously developed Close Quarter Battle (CQB) carbines to the Indian Army. In a filing with the BSE, the company stated that it will supply 255,128 CQB carbines of 5.56 x 45 mm calibre under the contract. The execution of the order is expected to be completed over a period of five years. Given that the counterparty is the Ministry of Defence, the company noted that detailed commercial terms of the contract are confidential in nature.…

Apollo Micro Systems on Wednesday announced that its step-down subsidiary, IDL Explosives, has secured fresh orders worth ₹420.9 crore, strengthening the company’s order book. According to a filing with the BSE, IDL Explosives has been awarded a running contract (RC) valued at ₹419.4 crore for the supply of bulk explosives to subsidiaries of Coal India. A running contract allows the company to supply products on a recurring basis, depending on demand, over the contract period. In addition to the domestic order, IDL Explosives has also received an export order worth ₹1.5 crore for the supply of cartridge explosives. With this,…

Cupid share price continued its strong upward momentum for the fifth straight trading session on Wednesday, December 31, rising 2.10% to touch a fresh all-time high of ₹520.15 on the NSE. With this move, the stock has gained 10.6% over the last five sessions. The latest rally follows a key strategic announcement by the company. In an exchange filing dated December 29, Cupid Limited informed that its board has granted in-principle approval to establish a new FMCG manufacturing facility in the Kingdom of Saudi Arabia. This will be Cupid’s first manufacturing unit outside India, marking a significant milestone in its…

The year 2025 turned out to be a landmark one for India’s primary market, with companies raising a record ₹1,75,901 crore through mainboard initial public offerings (IPO ‘s). A total of 103 companies tapped the market during the year, surpassing the previous record of ₹1,59,784 crore raised via 91 IPO ‘s in 2024. Despite the strong fund-raising numbers, investor response showed some moderation compared to last year. Data from PRIME Database indicates that while overall demand remained robust, subscription levels were relatively lower than in 2024. More notably, post-listing performance has emerged as a concern, as several highly subscribed IPOs…

Shares of Vodafone Idea (Vi) came under heavy selling pressure on Wednesday, December 31, plunging as much as 15% in intraday trade to hit the lower circuit on the BSE amid reports related to its adjusted gross revenue (AGR) liabilities. The stock opened at ₹12.14, marginally higher than its previous close of ₹12.07, but soon reversed course and slid sharply to hit its lower price band of ₹10.26 during the session. The sudden decline followed media reports suggesting that the Union Cabinet had decided to freeze Vodafone Idea’s AGR dues at ₹87,695 crore. The development appeared to dampen investor sentiment,…