Author: Legal Parivar

A recent survey, the Household Consumption Expenditure Survey 2022-23, unveiled an alarming trend of increased expenditure on paan, tobacco, and intoxicants over the last decade. The findings reveal that both rural and urban households are allocating a larger portion of their income to these products. In rural areas, the expenditure on such items rose from 3.21% in 2011-12 to 3.79% in 2022-23. Similarly, urban areas witnessed an increase from 1.61% to 2.43% during the same period. Conversely, spending on education witnessed a decline, with urban areas seeing a drop from 6.90% in 2011-12 to 5.78% in 2022-23, and rural areas…

Shimla, a charming town nestled in the picturesque landscapes of Himachal Pradesh, has once again been blanketed with fresh snowfall. Every year, Shimla transforms into a magical winter wonderland, surrounded by majestic mountains, and this year is no exception. According to the India Meteorological Department (IMD), light to moderate rainfall or snowfall is forecasted for parts of Jammu & Kashmir, Himachal Pradesh, and Uttarakhand today. This wet weather pattern extends southward, with similar predictions for various areas across Delhi, Punjab, and West Uttar Pradesh. The IMD has specifically predicted light to moderate rain or snowfall in certain areas of Jammu…

Wardwizard Innovations & Mobility, an electric vehicle manufacturer, is gearing up to expand its operations to meet the growing demand in both domestic and international markets, according to Chairman and Managing Director Yatin Gupte. The Vadodara-based company is establishing a new assembly plant in Sharjah, UAE, in collaboration with the BEEAH Group, to serve African markets, particularly Egypt. Additionally, it has set up an assembly plant in Deoghar, Jharkhand, to meet the increasing demand for electric vehicles (EVs) in regions like Bihar, Jharkhand, West Bengal, and Odisha. In discussions with PTI, Gupte mentioned that the Sharjah assembly plant will cater…

R K Swamy IPO, valued at Rs 423.56 crores, comprises a fresh issue of 0.6 crore shares worth Rs 173.00 crores and an offer for sale of 0.87 crore shares worth Rs 250.56 crores. The subscription for R K Swamy IPO opens on March 4, 2024, and closes on March 6, 2024, with allotment expected on Thursday, March 7, 2024. The IPO is scheduled to list on BSE and NSE on Tuesday, March 12, 2024. Priced between ₹270 to ₹288 per share, the minimum lot size for retail investors is 50 shares, requiring an investment of ₹14,400. For sNII, the…

CII President R Dinesh expressed confidence on Sunday that the target of achieving USD 100 billion in non-oil trade between India and the UAE by 2030 is not only ambitious but also feasible, citing significant business opportunities in sectors such as textiles, jewelry, and pharmaceuticals in both countries. Dinesh highlighted the positive impact of the free trade agreement between India and the UAE, implemented in May 2022, which has led to a notable increase in bilateral trade and investments. He emphasized that the agreement, officially known as the Comprehensive Economic Partnership Agreement, provides duty-free access to labor-intensive sectors like gems…

V R Infraspace IPO, valued at Rs 20.40 crores, offers 24 lakh fresh shares. Subscriptions open on March 4, 2024, closing on March 6, 2024. Allotment is expected by March 7, 2024, with listing on NSE SME slated for March 12, 2024, at Rs 85 per share. Retail investors require a minimum investment of ₹136,000 for 1600 shares, while HNIs must invest a minimum of ₹272,000 for 2 lots (3200 shares). Beeline Capital Advisors Pvt Ltd acts as the book running lead manager, with Link Intime India Private Ltd as registrar, and Spread X Securities as market maker. About V…

The Indian used car market is poised to reach the USD 100 billion milestone within the next decade, driven by increasing disposable incomes and a burgeoning middle class, according to Vikram Chopra, Co-Founder and CEO of CARS24. Citing insights from the Gurugram-based online used car marketplace, Chopra highlighted shifting market dynamics, with consumers increasingly opting for more frequent car upgrades. “Our internal analysis indicates that the Indian used car market is projected to grow at a 15 per cent Compound Annual Growth Rate (CAGR), rising from USD 25 billion in 2023 to USD 100 billion by 2034,” Chopra shared with…

Next week’s IPO market is bustling with activity, featuring a range of offerings across various segments. Among the ongoing issues, Mukka Proteins IPO and M.V.K. Agro Food IPO will close for bidding on March 4th. Let’s delve into the upcoming subscriptions and listings for the first week of March: RK Swamy IPO:This mainboard issue opens for subscription on March 4th, 2024, and closes on March 6th, 2024. It amounts to ₹423.56 crore, consisting of a fresh issue of 0.6 crore shares totaling ₹173.00 crores and an offer for sale of 0.87 crore shares amounting to ₹250.56 crore. Notably, RK Swamy…

Last week, the combined market capitalization of India’s top 10 companies surged by a substantial ₹65,302.5 crore, reflecting the upward trajectory of the broader market. This positive momentum was fueled by gains in seven of the top 10 most valuable firms, with Tata Consultancy Services (TCS) and ICICI Bank taking the lead. Despite the separate development of leading stock exchanges conducting a special trading session to test their readiness for potential disruptions, the Indian stock market sustained its upward trend. The Sensex index rose by 0.90 per cent, while the Nifty index gained 0.74 per cent during the week. Among…

Foreign investors demonstrated a significant turnaround in February, injecting over Rs 1,500 crore into Indian equities, a reversal from the substantial outflows witnessed in the previous month. This shift was primarily attributed to robust corporate earnings and positive economic growth. Data from depositories revealed that Foreign Portfolio Investors (FPIs) continued their bullish stance on the debt markets, infusing over Rs 22,419 crore during February. Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, expressed optimism for FPI flows in March, contingent upon the sustained positive trajectory of the economy and corporate performance. In February, FPIs recorded a net investment…