Author: Legal Parivar

Shares of IIFL Securities dropped up to 2 percent to Rs 222 apiece on June 27 following reports that market regulator SEBI is investigating market expert Sanjiv Bhasin for his alleged involvement in stock market manipulation. Year-to-date, the stock of this online trading platform has surged over 55 percent, outperforming the benchmark Nifty 50 index, which rose by 9 percent during the same period. According to reports, SEBI is conducting a probe into allegations of market manipulation and front-running against Bhasin. The investigation includes examining his digital devices as part of the evidence gathering process. Front-running is considered unethical, where…

Shares of Winny Immigration and Education Services debuted strongly on the NSE SME platform on June 27, opening at Rs 240 per share, marking a premium of over 71 percent from its issue price of Rs 140. Winny Immigration’s initial public offering (IPO) raised Rs 9.13 crores through a fresh issue of 6.52 lakh shares. The IPO subscription period ran from June 20 to June 24, with allotments finalized on June 25. The IPO was priced at Rs 140 per share, offering investors a chance to participate with a minimum lot size of 1,000 shares, requiring a retail investment of…

RVNL’s share price saw a nearly 2 percent increase in early trade on June 27 following the company’s contract win from Southern Railway. At 09:33 am, RVNL was trading at Rs 416.45, up Rs 7.40, or 1.81 percent, on the BSE. The KRDCL-RVNL joint venture has secured a letter of acceptance (LoA) from Southern Railway for the installation of automatic signalling on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section of the Thiruvananthapuram Division’s B-Route. The contract, valued at Rs 156.47 crore, allocates 49 percent to RVNL, with the remaining held by KRDCL. The project is scheduled for completion…

Infosys’ CEO Salil Parekh has resolved allegations of breaching insider trading regulations, as confirmed by India’s markets regulator on Thursday. Parekh has agreed to pay a penalty of 2.5 million rupees (approximately $30,000) for inadequacies in ensuring sufficient controls against insider trading, according to the Securities and Exchange Board of India.

Dindigul Farm made a stellar debut on the BSE SME platform today, with its share price opening at ₹102.60, marking a 90% increase from its issue price of ₹54. The subscription period for Dindigul Farm’s IPO ran from June 20 to June 24, with the issue oversubscribed by 202.35 times. Each lot of Dindigul Farm IPO comprised 2,000 shares, priced in the range of ₹51 to ₹54 per equity share with a face value of ₹10. Established in 2010, Dindigul Farm specializes in dairy products such as dairy whitener, skim milk powder, and milk protein concentrates processed from whole and…

KEC International, a prominent player in the infrastructure sector, witnessed a significant uptick in its share price, rising by 5% during the early trade on June 27. This surge followed the announcement of securing new orders totaling Rs 1,025 crore across its Transmission & Distribution (T&D) and Cables businesses. In the Transmission & Distribution segment, KEC International secured multiple key projects across diverse geographical regions. These include a substantial 765 kV GIS Substation project in India, awarded by the Power Grid Corporation of India Limited (PGCIL). Additionally, the company secured a comprehensive 225 kV Composite project involving Transmission lines, Substations,…

India’s securities regulator, the Securities and Exchange Board of India (SEBI), is contemplating relaxing certain disclosure requirements for listed companies, covering areas like related party transactions and disclosures related to major shareholders. This move is outlined in a consultation paper published on Wednesday. SEBI is considering extending the time frame for listed companies to publicly disclose litigations or disputes they are involved in. This consultation paper is part of SEBI’s ongoing efforts over the past year to streamline regulations for companies listed in India’s equity capital markets. Regarding related party transactions, SEBI has proposed exempting public companies from the requirement…

The sci-fi epic “Kalki 2898 AD,” featuring Prabhas, Deepika Padukone, Amitabh Bachchan, and Kamal Hassan, has hit theaters across India, sparking a range of reactions on social media. One viewer praised the film’s Hollywood-level quality, stating, “I couldn’t believe my eyes—am I watching an Indian movie or a Hollywood blockbuster? The quality and graphics are uncompromised. Congratulations to the entire team, especially Nag Ashwin. Love you, man.” Others described it as a “stellar” and “masterpiece,” lauding the visuals but noting some flatness in the screenplay. One viewer appreciated Prabhas’ performance, noting, “I lost all faith in Prabhas after watching Adipurush…

Yes Bank has reportedly terminated approximately 500 employees across various departments as part of a restructuring initiative aimed at cost-cutting and transitioning towards digital banking, according to The Economic Times. The bank is said to have provided severance pay equivalent to three months’ salary to the affected employees. Sources cited by ET mentioned that Yes Bank initiated the restructuring following advice from a multinational consultant. The bank is focusing on becoming a more agile and customer-centric organization, aiming for operational efficiency through a leaner workforce and increased reliance on digital platforms over manual processes. In response to inquiries, a Yes…

PI Industries witnessed a more than 5% jump in its share price during early trading on Thursday following the announcement of its acquisition of UK-listed Plant Health Care Plc (PHC). The acquisition, valued at approximately 32.8 million pounds, will be executed through PI’s wholly-owned international subsidiary using cash from earlier Qualified Institutional Placement (QIP) proceeds. Strategic Rationale According to PI Industries, the acquisition of PHC aligns with its long-term strategic goal of enhancing its portfolio with integrated solutions for sustainable agriculture. PHC brings advanced biological and peptide technology platforms in the “Plant Immunity Inducers” sector, complementing PI’s existing portfolio of…