Author: Legal Parivar

CII President R Dinesh expressed confidence on Sunday that the target of achieving USD 100 billion in non-oil trade between India and the UAE by 2030 is not only ambitious but also feasible, citing significant business opportunities in sectors such as textiles, jewelry, and pharmaceuticals in both countries. Dinesh highlighted the positive impact of the free trade agreement between India and the UAE, implemented in May 2022, which has led to a notable increase in bilateral trade and investments. He emphasized that the agreement, officially known as the Comprehensive Economic Partnership Agreement, provides duty-free access to labor-intensive sectors like gems…

V R Infraspace IPO, valued at Rs 20.40 crores, offers 24 lakh fresh shares. Subscriptions open on March 4, 2024, closing on March 6, 2024. Allotment is expected by March 7, 2024, with listing on NSE SME slated for March 12, 2024, at Rs 85 per share. Retail investors require a minimum investment of ₹136,000 for 1600 shares, while HNIs must invest a minimum of ₹272,000 for 2 lots (3200 shares). Beeline Capital Advisors Pvt Ltd acts as the book running lead manager, with Link Intime India Private Ltd as registrar, and Spread X Securities as market maker. About V…

The Indian used car market is poised to reach the USD 100 billion milestone within the next decade, driven by increasing disposable incomes and a burgeoning middle class, according to Vikram Chopra, Co-Founder and CEO of CARS24. Citing insights from the Gurugram-based online used car marketplace, Chopra highlighted shifting market dynamics, with consumers increasingly opting for more frequent car upgrades. “Our internal analysis indicates that the Indian used car market is projected to grow at a 15 per cent Compound Annual Growth Rate (CAGR), rising from USD 25 billion in 2023 to USD 100 billion by 2034,” Chopra shared with…

Next week’s IPO market is bustling with activity, featuring a range of offerings across various segments. Among the ongoing issues, Mukka Proteins IPO and M.V.K. Agro Food IPO will close for bidding on March 4th. Let’s delve into the upcoming subscriptions and listings for the first week of March: RK Swamy IPO:This mainboard issue opens for subscription on March 4th, 2024, and closes on March 6th, 2024. It amounts to ₹423.56 crore, consisting of a fresh issue of 0.6 crore shares totaling ₹173.00 crores and an offer for sale of 0.87 crore shares amounting to ₹250.56 crore. Notably, RK Swamy…

Last week, the combined market capitalization of India’s top 10 companies surged by a substantial ₹65,302.5 crore, reflecting the upward trajectory of the broader market. This positive momentum was fueled by gains in seven of the top 10 most valuable firms, with Tata Consultancy Services (TCS) and ICICI Bank taking the lead. Despite the separate development of leading stock exchanges conducting a special trading session to test their readiness for potential disruptions, the Indian stock market sustained its upward trend. The Sensex index rose by 0.90 per cent, while the Nifty index gained 0.74 per cent during the week. Among…

Foreign investors demonstrated a significant turnaround in February, injecting over Rs 1,500 crore into Indian equities, a reversal from the substantial outflows witnessed in the previous month. This shift was primarily attributed to robust corporate earnings and positive economic growth. Data from depositories revealed that Foreign Portfolio Investors (FPIs) continued their bullish stance on the debt markets, infusing over Rs 22,419 crore during February. Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, expressed optimism for FPI flows in March, contingent upon the sustained positive trajectory of the economy and corporate performance. In February, FPIs recorded a net investment…

Flipkart, a leading e-commerce platform, has introduced its Unified Payments Interface (UPI) service for both online and offline transactions within and beyond its application. This initiative aims to lessen Flipkart’s reliance on third-party UPI apps such as Paytm, PhonePe, Google Pay, and Amazon Pay, given its substantial user base of over 500 million registered users and 1.4 million sellers. Dheeraj Aneja, Senior Vice President of Flipkart’s Fintech and Payments Group, emphasized the convenience and cost-effectiveness of Flipkart UPI, aligning with customer expectations. Users can now generate a UPI ID within the Flipkart app to facilitate payments to merchants, individuals, and…

Google reinstated several apps on its Play Store on Saturday, following their removal from the marketplace the previous day due to “non-compliance” with billing policies. Among the reinstated apps are Info Edge India’s Naukri, 99acres, and Naukri Gulf, along with People Interactive’s Shaadi matrimonial platform. Info Edge founder and vice-chairman Sanjeev Bikhchandani expressed gratitude for the efforts made to restore the apps, acknowledging the dedication of the team in managing the crisis. Despite the setback, Info Edge remained proactive, working with Google to reinstate its apps. In a subsequent filing, Info Edge announced the reinstatement of its mobile applications Naukri…

The ruling Bhartiya Janata Party (BJP) has revealed its inaugural list of candidates for the upcoming Lok Sabha polls, featuring prominent leaders including Prime Minister Narendra Modi, Lok Sabha Speaker Om Birla, and others. Announcing the list, BJP National General Secretary Vinod Tawde expressed the party’s confidence in securing a third consecutive term in government under the leadership of Prime Minister Narendra Modi, anticipating a substantial mandate. Here are some of the key contenders from the BJP’s first list and their respective constituencies: This initial list highlights the BJP’s prominent candidates for the upcoming Lok Sabha elections, indicating a strategic…

The Supreme Court underscored the paramount importance of Article 21, stating that it is the essence of the Constitution as it safeguards the liberty of citizens. This observation came following a case where the Bombay High Court granted bail to Amol Vithal Vahile, a prime murder suspect, after a directive from the apex court on January 29. The bench, comprising Justices B R Gavai and Sandeep Mehta, expressed concern over the delay in adjudicating matters related to liberty. It noted instances where the high court failed to promptly decide bail and anticipatory bail applications, thereby impinging on individuals’ fundamental rights.…