Author: Legal Parivar

The declining trend in voter turnout persists in the Lok Sabha elections, with the fourth phase polling across 10 states and a Union Territory on May 13 registering a turnout of 67.25%, as per the latest estimates from the Election Commission. Compared to the 2019 general election turnout of 68.8% in these seats, this marks a decrease of 1.55%. However, the final turnout figures expected in a few days may see some adjustment upwards. West Bengal saw the highest turnout at 78%, followed by Andhra Pradesh at 76.5%, Madhya Pradesh at 70.98%, Jharkhand at 65.2%, Uttar Pradesh at 58.05%, and…

Novelis Inc., an aluminum products manufacturer owned by Hindalco Industries Ltd., controlled by billionaire Kumar Mangalam Birla, is aiming to finalize its planned initial public offering (IPO) in the United States by early June, as per individuals familiar with the matter. Sources indicate that the company, a subsidiary of India’s Hindalco, could initiate the formal marketing of the IPO in approximately two weeks, although this information is not public. On Monday, Novelis filed publicly with the US Securities and Exchange Commission for the listing. Hindalco intends to raise around $1.2 billion through the IPO for Novelis, headquartered in Atlanta, and…

On May 14, Q4 FY2024 results are anticipated from a multitude of companies, including Bharti Airtel, Siemens, Colgate-Palmolive (India), BASF India, Apollo Tyres, and PVR Inox. A total of 97 firms are slated to disclose their financial performances for the fourth quarter ending on March 31, 2024. This diverse roster spans industries from telecommunications to manufacturing and entertainment. List of companies to post Q4 FY2024 results today Abhinav Capital Services, Apex Capital and Finance, Archean Chemical Industries, Andhra Cements, Adroit Infotech, Aerpace Industries, Abans Holdings, AIA Engineering, Andhra Paper, Anmol India, Apar Industries, Apollo Tyres, Aurionpro Solutions, Bajaj Electricals, Balu…

Here are the top stocks in focus making headlines before the opening bell today, May 14, 2024:

The death toll from the hoarding collapse incident in Mumbai’s Ghatkopar area has climbed to 14, with 74 individuals sustaining injuries, according to civic officials on Tuesday morning. The collapse occurred when a 100-foot-tall illegal billboard toppled over at a petrol pump in Ghatkopar amidst dust storms and unseasonal rains that battered Mumbai on Monday. Brihanmumbai Municipal Corporation (BMC) officials have reported ongoing search and rescue efforts at the Chheda Nagar-based petrol pump on Tuesday morning. Among the injured, 31 individuals have been discharged from Rajawadi Hospital, as confirmed by a BMC official. The search and rescue operation continues, with…

“Paytm, the troubled mobile payments company, has been experiencing a gradual decline in both value and volume market share within India’s digital bill payment landscape, as indicated by data from the Bharat Bill Payment System (BBPS) website. BBPS serves as a centralized platform connecting utility companies or billers with banks and customer payment apps, handling over 80 percent of all online bill payments in the country. In March 2024, Paytm’s market share in bill payments dropped to 10 percent by volume compared to its 13 percent share in January. Similarly, its share in terms of the value of bills paid…

Piramal Enterprises, Balrampur Chini Mills, Canara Bank, Steel Authority of India (SAIL), Vodafone Idea, GMR Airports Infrastructure, Punjab National Bank (PNB), Hindustan Copper, and Zee Entertainment Enterprises have been placed on the National Stock Exchange’s futures and options (F&O) ban list on May 14, as they have exceeded 95 percent of the market-wide position limit (MWPL). This ban is lifted only if the open interest falls below 80 percent. On the technical side, Piramal Enterprises has decreased by 1.21 percent over the last month and is trading below its 20, 50, and 200 Daily Moving Averages (DMA). Balrampur Chini Mills…

Shares of ABB India surged over 7 percent to reach a new high of Rs 7,791.50 on the National Stock Exchange (NSE) on May 13, driven by the company’s impressive March quarter earnings that exceeded market expectations. The company’s net profit saw a remarkable 82 percent year-on-year increase to Rs 467 crore, attributed to higher revenue. Analysts maintained a positive outlook on the stock, citing factors such as the company’s robust performance and significant rise in total income, which increased by 29 percent year-on-year to Rs 3,080 crore. Nomura highlighted ABB India’s EBITDA margin of 18.3 percent in the March…

Neuland Laboratories witnessed a more than 13 percent decline in its share price during intra-day trading on Monday following the pharma company’s fiscal fourth-quarter results (Q4FY24) falling short of market expectations. In Q4FY24, the company’s net profit dropped by 20 percent year-on-year (YoY) to ₹67.6 crore, compared to ₹84.5 crore in the corresponding quarter of the previous year. Additionally, its total income also saw a decline of 6 percent YoY to ₹390.4 crore, down from ₹415 crore in the same quarter last year. The stock experienced a significant downturn, plummeting by as much as 13.5 percent to reach a day’s…

Bomb threats via email targeted at least four schools in Jaipur, the capital of Rajasthan, on Monday, according to police sources. The threats were delivered via email, and authorities are currently working to trace the sender, stated the police. Following the receipt of the threats, students and staff members were evacuated from the affected schools. Police teams, including bomb squads and dog squads, have been deployed to the schools as a precautionary measure. Jaipur Police Commissioner Biju George Joseph confirmed the incident, stating, “Four to five schools have received bomb threats. Police personnel have been dispatched to the schools.”