Author: Legal Parivar

Go Digit share price surged 10% to reach an all-time high during Wednesday’s session following the release of strong Q4 results. The general insurance company reported a net profit of ₹53 crore for the quarter ending March 31, 2024, a 104% increase from ₹26 crore in the previous year. The gross written premium for the quarter was ₹2,336 crore, up from ₹1,955 crore in Q4FY23, marking an almost 19% year-over-year increase. On Wednesday, Go Digit’s share price opened at ₹365 apiece on the BSE, reaching an intraday high of ₹372.35 and a low of ₹345.75. For the full fiscal year,…

On Wednesday, 3C IT Solutions & Telecoms (India) shares made a disappointing debut on the stock market. Listed at ₹43.01 per share on the BSE SME, the stock opened at a 17.29% discount to its issue price of ₹52 per share. Market Performance and IPO Details The listing fell short of market expectations. The grey market premium (GMP) for 3C IT Solutions shares today was ₹0, indicating no premium or discount in the grey market and a trading price equal to the IPO price of ₹52 per share. IPO Timeline and Pricing The company raised ₹11.44 crore through the SME…

Kotak Mahindra Mutual Fund has introduced the Kotak Special Opportunities Fund, an open-ended equity scheme following a sectoral or thematic investment theme. The scheme opened for public subscription on June 10, 2024, and will close on June 24, 2024. It will re-open for continuous sale and repurchase on or before July 08, 2024. Type of Mutual Fund Scheme This is an open-ended equity scheme focused on special situations. Investment Objective The primary objective of the scheme is to generate long-term capital appreciation by investing predominantly in opportunities arising from special situations. These may include company-specific events or developments, corporate restructuring,…

HCL Technologies’ share price surged nearly 3% in early trading on Wednesday following the announcement of an expanded strategic partnership with Deutsche Apotheker- und Ärztebank eG (apoBank), Germany’s largest cooperative primary bank. HCL Tech shares rose by as much as 2.95%, reaching ₹1,472 per share on the BSE. HCL Technologies will support apoBank with a managed services model that emphasizes outcomes, delivering resilient, scalable, high-quality, and compliant Digital Foundation services. This will enable apoBank to provide fast and secure banking services to its customers, as stated in a regulatory filing by the company. Partnership Details The estimated total contract value…

Aditya Birla Sun Life Mutual Fund has introduced the Aditya Birla Sun Life Quant Fund, an open-ended equity thematic fund that follows a quant-based investing strategy. The scheme opened for public subscription on June 10, 2024, and will close on June 24, 2024. It will re-open for continuous sale and repurchase within five days from the date of allotment. Type of Mutual Fund Scheme This is an open-ended equity scheme based on a quant-based investment theme. Comments from the Management A. Balasubramanian, Managing Director & CEO of Aditya Birla Sun Life AMC, remarked, “In today’s complex markets, we believe quantitative…

ixigo IPO : The initial public offering (IPO) of ixigo’s parent company, Le Travenues Technology Limited, entered the Indian primary market on June 10, 2024, and remains open until June 12, 2024. Investors have just one day left to participate in this mainboard public issue. Strong Investor Response After two days of bidding, the ixigo IPO has shown a robust response from investors. According to stock market observers, despite a range-bound secondary market session, the grey market premium (GMP) for ixigo IPO shares has remained steady. As of today, shares of Le Travenues Technology Limited are trading at a premium…

A reverse merger is a process by which a private company becomes a public company without going through the traditional initial public offering (IPO) process. In a reverse merger, a private company merges with a publicly traded company that usually has few or no operations (referred to as a “shell” company), but does have public trading status. Here’s how it typically works: Reverse mergers are often pursued as an alternative to the traditional IPO process due to their shorter timeline, lower costs, and reduced regulatory requirements. However, they may also carry certain risks and complexities, such as potential regulatory scrutiny…

NEET PG 2024 Admit Card Release: The National Board of Examinations in Medical Sciences (NBEMS) will unveil the admit cards for the National Eligibility cum Entrance Test for Postgraduate Exams (NEET-PG) 2024 on Tuesday, June 18, 2024, at natboard.edu.in. Aspirants who have registered for the NEET PG 2024 exam can access their hall tickets from the official website natboard.edu.in after NBEMS makes them available. It’s important to note that admit cards for NEET PG 2024 will not be dispatched to individual candidates via mail or post. Candidates must download the hall ticket from the official website, nbe.edu.in. They will receive…

Blinkit, the rapid delivery subsidiary of Zomato, is slated to receive a fresh injection of ₹300 crore in capital from its parent company, according to regulatory filings accessed through Tofler, as reported by Moneycontrol. This latest capital infusion highlights Zomato’s continued investment in Blinkit, totaling ₹2,300 crore since its acquisition in August 2022. The ongoing financial support underscores the significance of the quick commerce sector in India and Zomato’s dedication to maintaining its competitive position. The funding comes amid Zomato’s shares trading positively on the stock market, reflecting investor confidence. Blinkit’s evolution into a key player in the quick commerce…

India’s largest lender, State Bank of India (SBI), announced on June 11 its board’s approval of a plan to raise up to $3 billion through debt in the current financial year, according to an exchange filing. The state-owned financial institution aims to secure the funds in multiple tranches through either a public offering or private placement of senior unsecured notes. These notes will be denominated in US dollars or other major foreign currencies, as stated by the bank. The filing stated, “The Executive Committee of the Central Board at its meeting held today, i.e., 11th June 2024, has approved, inter…