Author: Legal Parivar

Haryana Shahari Vikas Pradhikaran (HSVP), the state’s urban planning agency, is set to auction off 18 group housing plots valued at approximately Rs 1,700 crore in Gurugram and nearby cities, according to officials familiar with the matter. These plots, located in Gurugram, Hisar, Rohtak, Panchkula, and Pinjor, will be allocated through an e-auction scheduled for March 4th. An HSVP official stated that the collective reserve prices for these plots amount to around Rs 1,700 crore, with Gurugram alone accounting for plots valued at over Rs 1,100 crore. The group housing plots vary in size, with the smallest measuring 1,938.64 square…

Shares of BEML rebounded from the day’s low of Rs 3,172 on the National Stock Exchange (NSE) following the company’s acquisition of an order valued at Rs 72.71 crore from Eastern Coalfields Limited for BH100 Rear dumper. At 2:11 pm, the stock was trading at Rs 3,215.55 on the NSE, marking a 0.6 percent decline from the previous close. Throughout the day, a total of three lakh BEML shares were traded on both the Bombay Stock Exchange (BSE) and NSE combined, a lower figure compared to the 1-week and 1-month average trading volume of eight lakh equity shares. Earlier in…

Sources familiar with the matter revealed that India’s Securities and Exchange Board (SEBI) has advised money managers to consider restricting one-off investments from clients in small and mid-cap stock mutual funds, as well as reduce commissions offered for their sale. The directive was communicated to money managers during a meeting earlier this month, with SEBI expressing concerns about the escalating inflows into Indian small and mid-cap mutual funds and potential ripple effects on the financial system if investors were to withdraw their funds suddenly. Small-cap stocks in India are categorized as those with market capitalization below 50 billion rupees ($603.05…

The Directorate General of Civil Aviation (DGCA) has levied a fine of ₹30 lakhs on Air India, a civil airline, in response to an incident on February 16th where an 80-year-old passenger collapsed and died after not receiving a wheelchair upon disembarking from a flight at Mumbai airport. Reports indicate that the elderly passenger had requested a wheelchair at Mumbai airport but decided to walk due to a lengthy wait caused by high demand for wheelchairs. Tragically, he collapsed during the immigration process and subsequently passed away. This incident occurred on February 12th following the passenger’s arrival on an Air…

V R Infraspace Limited has set the price band for its Initial Public Offering (IPO) at ₹85 per share, with a face value of ₹10 each. The IPO subscription window is scheduled to open on Monday, March 4, and will close on Wednesday, March 6. Each lot of the V R Infraspace IPO comprises 1,600 shares, and investors can bid for a minimum of 1,600 shares, with multiples thereof. The issue price stands at 8.50 times the face value. V R Infraspace Limited, headquartered in Vadodara, Gujarat, specializes in construction and real estate development, focusing on residential and commercial projects.…

Bondada Engineering witnessed a nearly 3 percent intraday surge on February 29th following the announcement of securing an order valued at Rs 81 crore from NLC India Limited. The order entails Balance of System (BOS) work for a SOMW solar power project, inclusive of a three-year Operation and Maintenance (O&M) commitment, totaling Rs 81,34,02,405 (inclusive of GST). The project is slated for completion within 15 months from the issuance of the Letter of Award (LOA). Previously, in February 2024, the company had secured a work order from Sundrops Energia Private Limited for supplying equipment for a solar power plant, with…

The oil ministry has announced an increase in the price of domestic natural gas to $8.17 per million metric British thermal units (mmBtu) for March, up from $7.85 in the previous month, according to a notification. However, the domestic natural gas price will remain unchanged at $6.5 for the month, following the established formula for price calculation. Under the updated gas pricing mechanism, domestic gas prices are now subject to a floor and ceiling of $4 per mmBtu and $6.5 per mmBtu, respectively. This pricing structure has been consistent since January and February when the price stood at $6.5 per…

During the fiscal year 2022-23, an analysis by the Association for Democratic Reforms (ADR) revealed that electoral bonds accounted for nearly half of the total income of both the ruling Bharatiya Janata Party (BJP) and the Aam Aadmi Party (AAP). The BJP reported an income of Rs 2,360.84 crore, with approximately 55% (Rs 1,294 crore) of it sourced from electoral bonds. Similarly, the AAP disclosed Rs 85.17 crore in donations through electoral bonds, constituting 53.364% of its total income. Notably, the AAP’s income surged by 91.23% from Rs 44.539 crore in FY22 to Rs 85.17 crore in FY23. The analysis…

Triveni Turbine shares have emerged as one of the standout performers in the Indian stock market over the past few years, delivering impressive returns to investors. Despite the significant rally post-COVID, some brokerage firms believe there is still upside potential in this multibagger stock. Motilal Oswal has issued a ‘buy’ recommendation with a target price of ₹540 per share, while Sharekhan has also assigned a ‘buy’ rating with a target price of ₹550 per share. Motilal Oswal highlights the company’s financials, noting its current trading multiples and adjusted estimates to reflect higher costs associated with market expansion efforts. Despite potential…

The recent surge in small-cap stock prices has led to significant valuation increases, prompting mutual fund houses to take action to protect investor interests. Recognizing potential risks, certain asset management companies (AMCs) have restricted lump sum investments in small-cap funds. This move aims to mitigate volatility and safeguard investor capital amidst concerns of overvaluation. Gurmeet Singh Chawla, Director at Master Capital Services Ltd., highlighted the rationale behind limiting lump sum investments, citing heightened volatility, limited free float, and risk factors such as political events. In response to soaring small-cap valuations, Ravi Singhal, CEO of GCL Broking, emphasized the need for…