Author: Legal Parivar

Pricol, a key supplier of clusters and Driver Information Systems to major clients such as Tata, TVS, Bajaj, and Hero, holds substantial market shares, especially in the two-wheeler and commercial vehicle segments. In Q3 FY24, the company introduced new Driver Information Systems and provided clusters for leading entities like Hero MotoCorp, Tata Motors’ EVs, Switch Mobility, and Daimler’s buses and trucks. This follows their track record of supplying products for various other models in the past. Notably, since the transition to BS-VI emission standards in April 2020, there has been a notable shift from mechanical to digital instrument clusters, a…

Vodafone Idea Ltd’s Follow-on Public Offer (FPO) commenced on April 18 and garnered bids for 1 percent subscription within the first hour of opening. The total bids received amounted to 8.31 crore shares out of the 1,260 crore shares offered. Various categories of investors, including retail investors, employees, high net-worth individuals (HNIs), and qualified institutional buyers (QIBs), have begun submitting bids for the offer. Retail investors and HNIs have each subscribed to 1 percent of their allotted quota. HNIs have bid for 2.86 crore shares against the reserved portion of 270 crore shares, while no bids have been received for…

Prior to the launch of its follow-on public offer (FPO) today, Vodafone Idea witnessed a surge of over 4% in its share price. On Tuesday, April 16, the company successfully raised approximately ₹5,400 crore through its FPO, with support from anchor investors like GQG Partners, UBS Fund Management, Jupiter Fund Management, Fidelity Investments, and Australian Super. Today, Vodafone Idea’s share price opened at an intraday low of ₹13.08 on BSE, reaching a high of ₹13.48. Technical analysts suggest that Vodafone Idea’s stock is undergoing a short-term consolidation phase, with strong support levels observed in the range of ₹12–11.50, indicating limited…

Greenhitech Ventures IPO allotment is set to be finalized today, April 18. Investors who applied for the IPO can check their allotment status on the registrar’s website, Skyline Financial Services Private Ltd. By accessing the basis of allocation, investors can determine if and how many shares they’ve been allotted. Refunds for applicants not receiving shares will commence on April 19, while allotted individuals will see their shares credited to their demat accounts on the same day. The IPO listing date for Greenhitech Ventures is scheduled for April 22. To check the IPO allotment status: Step 1: Visit the IPO registrar’s…

Tata Communications witnessed a rise in its shares on April 18, a day after reporting a consolidated net profit of Rs 321.20 crore for the quarter ended March 31, 2024. This figure marked a significant increase of 7.2 times sequentially and was nearly in line with Street estimates. The company’s total income also grew by 1.8 percent quarter-on-quarter (QoQ) to Rs 5,748.7 crore. With an EBITDA margin of 18.6 percent for the March quarter, Tata Communications demonstrated strong profitability. The revenue from its core business segment of data services increased by 0.9 percent sequentially to Rs 4,670.9 crore. The telecom…

Nestlé drew attention this week for the sugar content found in its baby food sold in developing nations, particularly in India. According to a report by The Guardian, Nestlé India included sugar and honey in infant milk and cereal products like Cerelac. In response to concerns raised, Nestlé India informed that it has reduced up to 30% of added sugars across its infant cereal range over the past five years. This controversy adds to the list of challenges Nestlé has faced in India and globally: These controversies highlight the ongoing challenges faced by Nestlé in various aspects of its business…

Authorities in Bengaluru have announced strict measures to maintain law and order during phase 2 polling for the Lok Sabha elections on April 26. Prohibitory orders under Section 144 of the Criminal Procedure Code (CrPC) will be in effect from 6 pm on April 24 until midnight on April 26. During this period, public meetings, rallies, gatherings of more than five people, burning of effigies, possession of lethal weapons, provocative speeches, and publicly raising political slogans will be strictly prohibited in Bengaluru. Campaigning or the use of banners or placards within a 100-meter radius of polling booths is also prohibited.…

Angel One Ltd witnessed a remarkable surge of over 7% on April 18, fueled by the company’s robust financial performance for the quarter ended March 31. The company reported a significant 27.3% year-on-year growth in net profit, amounting to Rs 340 crore, while its revenue from operations soared by an impressive 64.3% over the previous year to Rs 1,357.2 crore. Angel One is undergoing a strategic shift in its business model, aiming to enhance its market share in the cash segment and achieve substantial growth in distribution revenues over the next 2-3 years. Motilal Oswal anticipates that growth in the…

Brigade Enterprises experienced a significant surge of nearly 6% in morning trading on April 18, buoyed by the company’s record-breaking quarterly pre-sales in the January-March period. At 10:42 am, Brigade Enterprises shares were trading at Rs 1,045.25 on the NSE. The company achieved pre-sales of Rs 2,243 crore in Q4 and Rs 6,013 crore in FY24, marking its highest-ever quarterly and annual pre-sales figures. Pavitra Shankar, Managing Director of Brigade Enterprises, stated, “The residential business continued to drive sales growth, with all other verticals of the company contributing significantly and finishing strong in the financial year. This year, we have…

In Kerala’s Alappuzha district, authorities have confirmed a bird flu outbreak in two locations. The affected areas include ward 1 of Edathva Grama Panchayat and another area in ward 3 of Cheruthana Grama Panchayat. The outbreak was detected in ducks showing symptoms of the disease, and samples were sent to a laboratory in Bhopal for testing, confirming the presence of avian influenza (H5N1). Following the confirmation, the district administration, in line with the Government of India’s action plan, convened a meeting chaired by the District Collector. It was decided to implement measures to cull domestic birds within a one-kilometer radius…