Author: Legal Parivar

The spotlight is set on GAIL stock on March 11 following a “sell” recommendation from CLSA, marking the second downgrade by the brokerage firm in three months. Jefferies also maintains an underperform rating for the stock, which closed at Rs 189.30 on the National Stock Exchange on March 7, a slight decline of around 0.6 percent from the previous close. CLSA, which initially downgraded the stock to underperform in January due to slow EPS growth, foresees limited potential for revaluation and predicts subdued earnings per share growth, signaling a cautious outlook for GAIL in the short term. CLSA sets a…

Global brokerage firm CLSA has revised its rating on HDFC Bank stock from ‘buy’ to ‘outperform’, with a reduced target price of Rs 1,650 per share down from Rs 2,050. The downgrade follows analysts’ concerns regarding sluggish deposit growth and margin recovery. Year-to-date, India’s largest private sector lender has seen its stock decline by over 15 percent, in contrast to a marginal 0.9 percent decrease in the Bank Nifty index. Earlier this year, HDFC Bank shares hit a 52-week low of Rs 1,363 per share on February 14, 2024. Analysts at CLSA caution that the bank may face challenges in…

Recent regulatory actions taken by the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (Sebi) concerning Paytm Payments Bank, IIFL Finance, and JM Financial Ltd have stirred the markets. However, Anish Shah, the Group CEO and Managing Director of Mahindra & Mahindra Ltd, views these actions as ultimately beneficial for the financial services industry. In an interview, Shah expressed the group’s perspective that the recent interventions by the RBI will have a positive impact on the financial services sector. He emphasized the importance of running financial services businesses with robust controls and risk frameworks. Last…

Krystal Integrated Services Ltd, a facilities management services company, is gearing up for its initial public offering (IPO) with a price band set between Rs 680-715 per share. The IPO is scheduled to open for subscription on March 14, following the anchor bidding on March 13. The subscription window will close on March 18, with the basis of allotment set for March 19. Equity shares will be credited to dematerialized accounts on March 20, and the stock is expected to list on exchanges on March 21. The IPO comprises a fresh issue of Rs 175 crore and an offer for…

Lease is a transaction whereby one person, known as the lessor, transfers the right to enjoy an immovable property to another person, known as the lessee, either for a certain time or perpetually, in return for consideration. Essentials of a Lease Agreement: Procedure of Forming a Lease Agreement: Rights and Liabilities: Modes of Determining a Lease: Prerequisites of the Agreement: Lease and License: Stamp Duty Act 1899: In conclusion, lessor and lessee must adhere to legal requirements and terms outlined in the lease agreement, ensuring a valid and enforceable transaction.

Essentials of a Valid Gift Deed: Parties Involved: Registration of Gift Deed (Section 123): Case Law (Kalyan Sundram vs. Kumarappa): Revocation of Gift Deed: Illustrations: Onerous Gift: Applicability to Mohammedan Gifts:

Asif Ali Zardari, co-chairperson of the Pakistan Peoples Party, secured victory as Pakistan’s 14th President on Saturday, marking his second term as head of state. Zardari, aged 68, emerged as the joint candidate of the Pakistan Peoples Party (PPP) and the Pakistan Muslim League-Nawaz (PML-N), while his opponent, Mahmood Khan Achakzai, aged 75, represented the Sunni Ittehad Council (SIC). He garnered 255 votes, while his rival received 119 votes in the National Assembly and the Senate. The election took place as per the provisions of the Constitution, with the electoral college comprising newly elected members of the National Assembly and…

Heavy snowfall in Himachal Pradesh’s Lahaul and Spiti district has disrupted normal life, causing communication network, electricity, and water supply disruptions for several days. The snowfall began on March 2, blanketing the upper reaches of the hill station in a white sheet. According to an official from the local administration, speaking to news agency ANI via satellite phone, the recent snowfall has severely impacted the communication infrastructure in the region, with only satellite phones remaining operational. Restoration efforts for communication networks and water supply depend on the restoration of power lines. The official highlighted the blockage of infrastructure in Lahaul…

Despite high US bond yields, foreign portfolio investors (FPIs) have continued to show consistent buying activity in Indian markets, extending the modest buying trend observed in February. According to data from the National Securities Depository Ltd (NSDL), FPIs have purchased Indian equities worth ₹11,823 crore, contributing to a total inflow of ₹15,559 crore as of March 7. This figure includes investments in debt, hybrid, debt-VRR, and equities.

In a cabinet meeting chaired by Chief Minister Bhagwant Mann, the Punjab cabinet endorsed the excise policy for the fiscal year 2024-25, with a target of generating revenue exceeding Rs 10,000 crore from liquor sales. Finance Minister Harpal Singh Cheema announced the approval of the new excise policy, highlighting it as the third such policy under the AAP government. Cheema noted that this policy aims to surpass the revenue generated during the previous Congress regime, which amounted to Rs 6,151 crore from liquor sales. The new excise policy introduces changes such as allotment of liquor vends through a draw of…