Author: Legal Parivar

Domestic airlines recorded a total of 133.68 lakh passengers in March, marking a nearly 3.7 percent increase compared to the same period last year, according to official data released on Monday. In March 2023, domestic air traffic stood at 128.93 lakh, while in February this year, it was 126.48 lakh. Regarding On-Time Performance (OTP), Akasa Air led the list with 84.5 percent, followed by AIX Connect (83 percent), IndiGo (81.3 percent), Vistara (76.6 percent), Air India (71.9 percent), and SpiceJet (63.6 percent). Alliance Air recorded the lowest OTP at 48.6 percent. These figures were released by the Directorate General of…

The benchmark Sensex and Nifty indices are poised to start the day on a negative note, as indicated by trends in the GIFT Nifty, suggesting a lower opening with a loss of 168.50 points. Yesterday, the Indian equity market witnessed a second consecutive day of losses, driven by widespread selling amid concerns over the Israel-Iran crisis and anticipation of March quarter results. Closing at 73,399.78, down 845.12 points, or 1.14 percent, the Sensex, and the Nifty at 22,272.50, down 246.90 points, or 1.10 percent, extended their losses. The pivot point calculator suggests immediate support levels for the Nifty 50 at…

Jefferies has reaffirmed a ‘buy’ recommendation on IDFC First Bank, citing various growth opportunities, particularly in its credit cards business. Analysts at Jefferies have set a target price of Rs 100 per share, indicating a potential upside of 22 percent from the current levels. Although the stock has faced a decline of over 6 percent year-to-date, underperforming the benchmark Nifty, Jefferies remains optimistic about its prospects. Previously, IDFC First Bank shares reached a 52-week high of Rs 100 per share on September 5, 2023. According to Jefferies, achieving a return on asset (RoA) of 1.5 percent will be pivotal for…

1. Tata Electronics to Provide Vehicle Control Elements for Teslas Made in India Tata Electronics has secured a deal with Tesla to manufacture components such as printed circuit board assemblies for the electric car manufacturer’s battery management systems, motor controller units, and door controls. This partnership signifies Tesla’s interest in entering the Indian market and leveraging local value addition to benefit from reduced import duties for electric vehicle manufacturers investing in India. 2. Apple in Talks with Indian Companies for iPhone Camera Components Apple is reportedly in advanced discussions with the Murugappa Group and Tata Group’s Titan Company to produce…

Maharashtra-based JNK India Ltd is set to commence its initial public offering (IPO) subscription from April 23 to April 25. Prior to this, anchor investors can place their bids on April 22. The basis of allotment will be decided on April 26, with refunds and credit of equity shares scheduled for April 29. The company is expected to list on exchanges on April 30. Details of the IPO The IPO comprises a fresh issue of Rs 300 crore along with an offer-for-sale of up to 8.42 million shares by existing shareholders and promoters. The offer-for-sale includes shares from Goutam Rampelli,…

Homebuyers and residents of various group housing societies in Noida and Greater Noida West are expressing dissatisfaction over pending registries by launching a “No Registry, No Vote” campaign ahead of the 2024 Lok Sabha elections. They’ve indicated that they may abstain from voting or choose NOTA if their flat registries remain unresolved. Some societies have prominently displayed banners with the campaign slogan, signaling their stance to politicians visiting their areas for election campaigning. The frustration stems from a history of unfulfilled promises by politicians regarding registry matters. Residents of numerous societies, including Gaur Saundaryam, Gardenia Glory, Futec Gateway, Himalaya Pride,…

Iran’s recent launch of over 300 drones and missiles against Israel following a suspected Israeli strike on its embassy in Syria has intensified tensions in West Asia, leading to a downturn in global market sentiment. On Monday, April 15, both the Sensex and the Nifty 50 fell over one percent in morning trading. Amidst this escalation, US President Joe Biden has cautioned Israeli Prime Minister Benjamin Netanyahu against retaliating against Iran, signaling US non-participation in a potential counter-offensive. Here are the top five concerns stemming from the Iran-Israel tensions that could impact the Indian stock market: Disclaimer: It’s essential for…

Iranian Foreign Minister Hossein Amir-Abdollahian announced on Monday that Iranian authorities will permit Indian officials to meet the 17 Indian crew members of a cargo vessel seized by the Iranian military near the Strait of Hormuz. Amir-Abdollahian conveyed this to External Affairs Minister S Jaishankar during a telephonic conversation on Sunday, according to an Iranian readout. In the talks, Jaishankar called for release of the Indians onboard Portuguese-flagged cargo vessel MSC Aries. “We are following up on the details of the seized ship and soon it will be possible for the representatives of the Indian government to meet with the…

In the MI vs CSK match on April 14, Rohit Sharma’s fans had much to cheer about as the “hitman” showcased a stellar performance for the Mumbai Indians in their chase against the Chennai Super Kings. Despite his remarkable innings of 105 not out off 64 balls, MI fell short by 20 runs in their pursuit of CSK’s 206 runs. Nonetheless, Rohit Sharma’s unbeaten century stole the spotlight in the match. Even MS Dhoni couldn’t help but appreciate Rohit Sharma’s outstanding innings. After the match, Dhoni approached the former Mumbai skipper, hugged him, and patted his back in an endearing…

ONGC shares are showing strength on the stock market on April 15, a day when the BSE Sensex is down by 500 points at 10:45 am. ONGC shares have surged by 3.63 percent, trading at Rs 275 per share. The rise in ONGC shares alone is responsible for contributing 200 points to the recovery of the BSE Oil & Gas index. Despite a weak start, the index has bounced back by over 1,000 points from its low point of the day. Currently, it is trading near the 28,400 levels, with notable contributions from IGL, ONGC, GAIL, Linde India, and Petronet…