Author: Legal Parivar

On August 5, domestic institutional investors (DIIs) were net buyers of shares worth Rs 9,156 crore, while foreign institutional investors (FIIs) were net sellers, offloading shares worth Rs 10,074 crore, according to provisional data from the NSE. DIIs purchased shares worth Rs 23,767 crore and sold shares worth Rs 14,611 crore. In contrast, FIIs bought shares worth Rs 12,724 crore but sold equities worth Rs 22,798 crore during the session. So far this year, FIIs have net bought shares totaling Rs 1.39 lakh crore, while DIIs have net purchased shares worth Rs 2.76 lakh crore. Market Overview: Global market turmoil,…

Bharti Airtel board has decided to delay calling the remaining approximately Rs 15,000 crore from its rights issue, citing sufficient cash reserves for its current needs. The company explained that, given its strong financial position and immediate funding requirements being met, it is prudent to postpone requesting the balance on partly paid-up shares. The board noted that it will only call for the remaining funds when significant capital expenditures or leverage considerations arise. They assured that shareholders will receive notice whenever such a call is made. Airtel emphasized its robust balance sheet, supported by strong free operating cash flows, and…

Sheikh Hasina son, Sajeeb Wazed Joy, announced on Monday that his mother will not return to politics following her resignation and departure from Bangladesh. Hasina’s 15-year term as Prime Minister concluded with her arrival in India. Joy told the BBC’s Newshour that his mother was “disappointed” that a minority group opposed her despite her extensive efforts. He added that Hasina had been considering stepping down since Sunday. Defending his mother’s tenure, Joy highlighted that she transformed Bangladesh from a struggling state into one of Asia’s rising economic tigers. He stated that Hasina left the country at her family’s urging for…

Violent protests in Bangladesh have led to the resignation of Prime Minister Sheikh Hasina. The unrest, which has claimed at least 300 lives, forced Hasina to flee to India and reportedly seek asylum in the United Kingdom. In Dhaka, large-scale celebrations erupted as Hasina stepped down, and the country now braces for an interim government. India has heightened security measures along its 4,096.7 km border with Bangladesh. Key developments include:

SaaS platform Unicommerce Esolutions has raised Rs 124.5 crore through its anchor book, which was available for a single day on August 5. The public issue opens tomorrow, with the bidding closing on August 8. In an exchange filing, the New Delhi-based company announced that it has allocated 1,15,23,831 equity shares to 11 anchor investors at a price of Rs 108 per share. Notable investors include Morgan Stanley, SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Trustee, and Nippon Mutual Fund, each acquiring 12.96 lakh shares worth Rs 14 crore. Additionally, Aditya Birla Sun Life Trustee,…

Gold prices fell over 2 percent in volatile trading on Monday, as investors sold off positions amid a broader equities selloff. Spot gold dropped 2 percent to $2,393.66 per ounce by 1139 GMT (0400 IST), while U.S. gold futures fell 1.4 percent, closing at $2,434.10. The broader market turmoil saw Japanese stocks tumble, surpassing losses from the 1987 Black Monday. This decline was driven by increasing fears of a U.S. recession, which led investors to offload riskier assets. Recent data showing a rise in the U.S. unemployment rate to 4.3 percent in July has raised expectations that the Federal Reserve…

The administrator of Reliance Capital (RCAP), facing financial difficulties, has accused IndusInd International Holdings Ltd (IIHL) of failing to comply with the National Company Law Tribunal (NCLT) order dated July 23. In an affidavit filed with the NCLT, the administrator claimed that instead of depositing Rs 2,750 crore into the designated escrow accounts as required, IIHL deposited the funds into its own accounts and those of its promoters. IIHL, however, stated in a separate affidavit that it had funds ready for transfer but was awaiting the establishment of escrow accounts as per agreed conditions. According to the NCLT’s July 23…

JSW Steel has filed a notice to relinquish its mining lease for the Jajang iron ore block in Odisha, citing “uneconomic operation.” The Jajang block, located in Keonjhar, was one of four iron ore mining leases acquired through an auction in 2020. JSW Steel announced in a regulatory filing on Saturday that it submitted the notice on August 3. The surrender of the mining lease will be finalized pending the necessary approvals, the company added.

Spending on outbound tourism is projected to surge from USD 18.82 billion in 2024 to USD 55.39 billion by 2034, according to a recent report. The “Navigating Horizons” report, prepared by Nangia NXT and Ficci, highlights that packaged tours continue to dominate India’s outbound tourism market, accounting for 39.20% in 2024. This preference for pre-planned packages stems from their convenience and customization options. The report notes that the availability of Indian or vegetarian food options and increased awareness of niche tourism are expected to boost the frequency and number of Indians traveling abroad in the coming years. The sector has…

Real estate firm House of Abhinandan Lodha plans to invest ₹1,800 crore in the financial year 2024-25 to expand its residential business, acquire land, and construct new projects. Chairperson Abhinandan Lodha shared this information with PTI on Sunday, August 4. According to Lodha, the total capital expenditure for this fiscal year will be around ₹1,800 crore, with ₹550 crore allocated for construction and the remainder for land acquisition. Founded in 2021, the Mumbai-based company has launched nearly 10 plotted projects across 650 acres in Maharashtra, Goa, and Ayodhya, Uttar Pradesh. Post-pandemic, demand for residential plots has surged, prompting the company…