Author: Legal Parivar

On Monday, Bitcoin reached a fresh all-time high surpassing $70,400, continuing its relentless ascent. During early European trading, it climbed to $70,488.50 according to data from LSEG. The surge in the cryptocurrency has been driven by an influx of funds into newly established spot bitcoin exchange-traded funds, along with optimism regarding potential interest rate cuts by the Federal Reserve.

In the ongoing saga of judicial interventions in policymaking in India, the recent development involves the Supreme Court’s intervention in setting the rates for medical services charged by hospitals across the nation. Legal Examination: The Supreme Court heard a public interest litigation (PIL) filed by the NGO ‘Veterans Forum for Transparency in Public Life’ regarding rising healthcare costs and disparities in treatment costs between public and private hospitals. The Court directed the Union Government to establish price bands for medical procedures and treatments offered by hospitals or face imposing the rates charged under the Central Government Health Scheme (CGHS) as…

Bank of Baroda (BoB) shares have shown significant upside movement in the post-COVID market recovery. Despite experiencing a substantial sell-off during the pandemic, BoB share price hit a low of around ₹37.50 per share in May 2020. Since mid-October 2020, the stock has been on an upward trajectory, establishing itself as a favorable ‘buy on dip’ option on Dalal Street. The recent bullish trend in Bank of Baroda’s share price has led to consecutive record highs over the last three sessions. Today, the stock opened at ₹283.85 and reached an intraday high of ₹285.60 per share on the NSE. Notably,…

In a significant development, the Supreme Court has rejected the State Bank of India’s (SBI) plea for an extension to disclose details regarding the electoral bonds scheme. Instead, the court has mandated the SBI to share these details with the Election Commission of India (ECI) by tomorrow, with the ECI directed to publish the information on its website by 5 pm on Friday. The court also issued a stern warning, stating that it would initiate contempt proceedings against the government-run bank if it fails to provide the required information by the specified deadline. The decision came after the SBI sought…

The Congress party has approached the Delhi High Court to challenge the dismissal of its plea by the Income Tax Appellate Tribunal (ITAT) regarding penalties imposed for inconsistencies in certain tax returns. Senior advocate Vivek Tankha mentioned the matter before a bench comprising Acting Chief Justice Manmohan and Justice Tushar Rao Gedela. Tankha emphasized the urgency of the matter, noting that the political party’s accounts have been frozen. Acting Chief Justice Manmohan indicated willingness to hear the case during the day if the petition is properly filed. Last week, the ITAT had rejected the Congress’ appeal against penalties imposed for…

On Monday, Maharashtra Chief Minister Eknath Shinde unveiled the first phase of the coastal road connecting Worli and Marine Drive in south Mumbai. The initial phase covers a 10.5-kilometer-long stretch, allowing traffic movement between Worli Seaface, Haji Ali interchange, and Amarson’s interchange points, with exit options at Marine Lines. Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, along with other dignitaries, attended the inauguration ceremony for the south-bound corridor of the coastal road. Commenced on October 13, 2018, the ambitious project has an estimated cost of Rs 12,721 crore. As part of the project, a world-class Central Park sprawling over…

Krystal Integrated Services is gearing up to launch its initial public offering (IPO), with a price band set between ₹680 to ₹715 per equity share having a face value of ₹10. The subscription for the Krystal Integrated Services IPO is scheduled to begin on Thursday, March 14, and conclude on Monday, March 18. Allocation to anchor investors is slated for Wednesday, March 13. The floor price stands at 68 times the face value of equity shares, while the cap price is set at 71.50 times the face value. At the upper end of the price band, the price to earnings…

Domestic brokerage firm Motilal Oswal has reiterated its “buy” recommendation for JK Lakshmi Cement as the company continues to expand its grinding capacity and aims to widen its market presence. With a target price of Rs 1,030 per share, representing a potential upside of 15% from the current market price, the brokerage remains optimistic about the company’s prospects. In the opening hour of trading, the share price rose by 2%, but later moderated its gains to trade at Rs 896.55 at 10:15 am, up 0.5% from the previous session. JK Lakshmi Cement is strategically planning to increase its grinding capacity…

Shares of KPI Green Energy Limited saw a 5% increase to Rs 1,812 in early trading on March 11 following the company’s announcement of receiving an order for 305MWac from two subsidiaries of the Aditya Birla Group. This order is part of a wind-solar hybrid power project in Gujarat. The company will undertake engineering, procurement, construction, and commissioning (EPCC) services for the solar project, including supply, loading, unloading, transportation, and construction. According to the exchange filing, the project is scheduled for completion in the financial year 2025-26. By 10:58 am, the stock was trading at Rs 1,732, marking a 0.36%…

Shares of Macrotech Developers saw a significant surge of around 4% in early trading on March 11, reaching a fresh record high of Rs 1,277.90. This surge came after the company successfully raised Rs 3,300 crore through a qualified institutional placement (QIP). Despite hitting a record high, the stock saw some profit booking, causing it to retreat from the day’s peak. By 10:52 am, shares were trading slightly lower at Rs 1,191.85 on the NSE. The positive sentiment surrounding the fund raise remained strong as several prominent names, including Rajiv Jain’s GQG Partners, Invesco Developing Markets Fund, and Stitching Depositary…