Author: Legal Parivar

Zee Entertainment shares witnessed a more than 3% decline on Thursday, extending the losses from the previous session. The stock dropped by as much as 3.58% to ₹156.20 per share on the BSE. In the prior session, Zee Entertainment Enterprises had experienced a significant decline of 6.36%. Over the past three months, the stock has plummeted by over 37%, and year-to-date, it has fallen by 43%. The downward pressure on Zee shares intensified following the collapse of its proposed merger with Sony Group’s India unit. Adding to Zee’s challenges is the recent announcement by Reliance Industries Ltd (RIL), led by…

Today, Bajaj Auto shares are trading ex-buyback, with the company setting the record date for its buyback program on February 29, 2024. Shareholders holding Bajaj Auto shares after the close of Thursday’s session will be eligible to participate in the buyback, which the company has announced through the tender route. Bajaj Auto has revealed the buyback price at ₹10,000 per share, representing a 25 percent increase over today’s share price, which is approximately ₹8,000 per share. Providing details to the Indian stock market exchanges, Bajaj Auto Ltd stated, “This is in continuation of our previous disclosures dated January 8, 2024,…

Tata Sons Chairman, N Chandrasekaran, hinted at an imminent announcement regarding a semiconductor chip fab with a substantial investment during his speech at the 20th Anantharamakrishnan Memorial lecture on ‘India’s Leadership in a Pivotal Decade’. The conglomerate’s forward-looking strategy includes investments in Air India and the electronics and semiconductor sector, although specific details about the semiconductor manufacturing facility were not disclosed. Reports suggest that the Tata Group is exploring potential partnerships with major Taiwanese chipmakers like Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group for the proposed chip fabrication plant in Dholera, Gujarat. Chandrasekaran highlighted the intention to produce multiple…

In the Karnataka Assembly, chaos erupted as Bharatiya Janata Party (BJP) lawmakers protested against the ruling Siddaramaiah government, citing an alleged video showing supporters of Congress MP Syed Naseer Hussain chanting pro-Pakistan slogans. R Ashoka, the Leader of Opposition in the Karnataka Assembly, demanded the immediate arrest of the individual responsible for the pro-Pakistan slogans. Meanwhile, Byadagi Police announced on Thursday that they had detained Mohmad Shafi Nashipudi, a trader and supporter of Syed Naseer Hussain, for questioning. They stated, “We have obtained his voice sample and brought him in for analysis regarding the alleged pro-Pakistan slogan video. He was…

The government has set a conservative target for wheat procurement, ranging from 30 to 32 million tonnes for the 2024-25 rabi marketing season, as per the food ministry’s announcement. This target is notably lower than the Ministry of Agriculture’s optimistic projection of a record wheat production between 114 to 115 million tonnes for the 2023-24 crop year (July-June). Following discussions with state food secretaries in a meeting chaired by Union Food Secretary Sanjeev Chopra in the national capital, the procurement target was finalized. The ministry stated, “After deliberations, the estimates for wheat procurement during the ensuing rabi marketing season of…

GPT Healthcare had a solid debut, with its stock listing at a 16.2 percent premium to the IPO price on February 29, surpassing analysts’ expectations of a 5-percent premium. The stock opened at Rs 215 on the NSE and Rs 216.15 on the BSE, compared to the issue price of Rs 186. Prior to its debut, the stock was trading at a 9 percent premium in the grey market, an unofficial platform where shares are traded before IPO allotment and until listing day. Many investors monitor the Grey Market Premium (GMP) to gauge the potential listing price. The public issue,…

The domestic benchmark equity indices, Sensex and Nifty 50, experienced a significant downturn in Wednesday’s session, driven by heavy selling in PSU banks, realty, auto, oil, and gas stocks, amid a lack of clear direction. Analysts attribute this sharp fall to investors booking profits following substantial gains, coupled with increased volatility as traders roll over holdings ahead of Thursday’s F&O expiry. Furthermore, with 90 stocks trading lower and the Nifty Midcap index plummeting by over 1,000 points, concerns about market direction intensified. Factors Behind the Market Decline:

The CUET (UG) 2024 for the Academic Session 2024-25 will be conducted in a hybrid mode, allowing both Computer-Based Test (CBT) and Pen and Paper formats. Interested candidates can submit their online applications from February 27 to March 27. The deadline for online submission of the application form is March 26, 2024, until 11:50 PM. Payment through credit/debit card, net banking, or UPI should be completed by March 26, 2024, before 11:50 PM. Applicants will have the opportunity to make corrections in their particulars from March 28 to March 29, 2024, until 11:50 PM. CUET (UG) – 2024 will be…

The initial public offering (IPO) of GPT Healthcare, a prominent hospitals chain and healthcare services provider, concluded on February 26 with an impressive response from investors. The IPO was heavily oversubscribed during the bidding period from February 22 to February 26. With the IPO allotment finalized, all attention is now on the listing of GPT Healthcare IPO, scheduled for February 29, Thursday. Grey Market Premium (GMP) analysis indicates a positive sentiment towards GPT Healthcare shares. The GMP today stood at ₹17 per share, suggesting an estimated listing price of ₹203 apiece, representing a premium of 9.14% over the issue price…

Bitcoin continued its upward surge for the fifth consecutive day on Wednesday, approaching the $60,000 mark. The rally was fueled by increased investment in new U.S. spot bitcoin exchange-traded products, resulting in a 39.7% surge in February. If sustained, this would mark Bitcoin’s largest monthly rally since December 2020. As of the latest update, Bitcoin was up by 4.4% at $59,259, reaching its highest point since December 2021. Meanwhile, Ether also experienced gains, rising by 2.2% to $3,320, reaching another two-year high. Investors have been flocking to Bitcoin in anticipation of April’s halving event, a process aimed at slowing down…