Author: Legal Parivar

Yash Optics & Lens shares commenced trading on April 8 with a positive start, opening at Rs 90, representing an 11.1% premium over the issue price of Rs 81 on the NSE SME platform. However, this listing fell short of the grey market expectations, where shares were trading at a premium of Rs 14. The NSE SME IPO witnessed strong subscription rates over a period of five days, with an overall subscription of approximately 42 times. Notably, the retail segment was oversubscribed by around 32 times, while the NII portion saw a subscription of 20 times. The QIB investors displayed…

K2 Infragen shares debuted on the NSE SME platform on April 8 at Rs 167, marking a 40% premium over the issue price of Rs 119. Despite the strong listing, the gains fell short of the grey market premium, where shares were trading at Rs 63 above the issue price. The company’s public offering of Rs 40.54 crore witnessed overwhelming demand, with subscription exceeding 46.35 times. A total of 11,40,14,400 share applications were received against the offered 24,60,000 shares. Established in 2015, K2 Infragen operates as an engineering, procurement, and construction (EPC) firm, with divisions handling contract-based projects across various…

After a seven-month vacancy, Aakash, owned by Byju’s, is set to appoint Deepak Mehrotra, former MD of Pearson India, as its CEO. Mehrotra’s appointment follows the departure of the former CEO and CFO of Aakash last September. Previously, Mehrotra served as MD at Ashirvad Pipes for five years until September 2023. Byju’s acquisition of Aakash in April 2021, with a 70% cash and 30% equity deal, facilitated profitable growth and helped offset losses from other acquisitions like WhiteHat Junior and Osmo. The new CEO appointment comes amidst speculation of Aakash Chaudhry’s return, which did not materialize due to ongoing liquidity…

Tata Mutual Fund has broadened its passive fund portfolio by introducing six index funds simultaneously on April 8. These new index funds include Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund, Tata Nifty Financial Services Index Fund, Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund, and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund. The initial offering for these schemes will be open from April 8 to April 22, with a minimum investment requirement of Rs 5,000 during the NFO period. Three of these schemes are industry firsts: Tata Nifty MidSmall Healthcare Index…

Cochin Shipyard (CSL) saw its share price reach a 52-week high of Rs 1,135.55 during early trading on April 8, following the company’s signing of the master shipyard repair agreement (MSRA) with the United States Navy. As of 09:33 am, Cochin Shipyard was trading at Rs 1,107.35, marking an increase of Rs 26.70 or 2.47 percent on the BSE. The MSRA, a non-financial agreement, will enable CSL to carry out repairs on US Naval vessels under the Military Sealift Command. CSL’s qualification for the MSRA came after a comprehensive evaluation and capability assessment conducted by the US Navy – Military…

In Monday’s morning trading session, Voltas’ share price surged by 10%, reaching its 52-week high. The company, in a recent announcement, celebrated a significant achievement, recording its highest-ever sales of 2 million AC units during the fiscal year 2023–2024. Voltas proudly emphasized that it has become the first brand in the history of India’s air conditioning industry to achieve such a remarkable milestone. Notably, Voltas witnessed an impressive 72% increase in AC sales volume during the fourth quarter of FY24.

Today, April 8, the Bharti Hexacom IPO share allotment will be finalized. Investors who applied for the Bharti Hexacom IPO can check the allotment status on the registrar’s portal, Kfin Technologies Ltd. The IPO, a subsidiary of Bharti Airtel, opened for subscription from April 3 to April 5, witnessing strong demand from both retail and non-institutional investors. During the subscription period, the Bharti Hexacom IPO received a subscription status of 29.88 times overall. On the final day, the retail component saw 2.83 subscriptions, while the Qualified Institutional Buyers (QIBs) quota had 48.57 subscriptions, and the non-institutional investors category recorded 10.52…

Shares of Titan Company are poised to open with gains on April 8 following its robust performance in the fourth quarter of FY24. The Tata Group firm reported a strong revenue growth of approximately 17 percent year-on-year and expanded its retail network by adding 86 outlets, bringing the total to 3,035 stores. Analysts remain bullish on Titan stock, foreseeing up to a 20 percent upside from its April 5 closing price. Centrum Broking expects Titan to maintain its operating margin despite intense competition in the jewellery sector, citing its competitive edge in design and sourcing, as well as higher ticket…

Read Full Judgment: The State of Madhya Pradesh v. Shilpa Jain & Ors In the case of The State of Madhya Pradesh v. Shilpa Jain & Ors., Criminal Appeal Nos. 1565-1567 of 2024 arose from a common order of the High Court of Madhya Pradesh quashing a First Information Report (FIR) and related criminal proceedings. The FIR, filed by the Tehsildar, Khategaon, alleged fraudulent sale transactions of government land, leading to charges under various sections of the Indian Penal Code. The factual background revealed a longstanding dispute over a property in Dewas, Madhya Pradesh, between the Nagar Palika (Original Plaintiff)…

Read Full Judgment: Chandan v. The State (Delhi Admn.) In Criminal Appeal No. 788 of 2012, the Supreme Court of India upheld the conviction of the appellant, Chandan, under Section 302 of the Indian Penal Code (IPC). The appellant was convicted for the daylight murder of Rakesh, with a reliable eyewitness testifying against him. The incident occurred on May 28, 1993, around 8:15 pm, when the eyewitness, PW-2, saw the appellant stabbing the deceased multiple times with a knife after a scuffle between them. Despite immediate medical attention, Rakesh succumbed to his injuries at Hindu Rao Hospital. The post-mortem examination…