Author: Legal Parivar

The Bharti Hexacom IPO witnessed strong demand on the second day of bidding, with subscription levels reaching 1.12 times, as per BSE data. Retail investors and non-institutional investors (NIIs) showed great enthusiasm, subscribing 1.15 times and 1.71 times, respectively. The qualified institutional buyers (QIBs) portion received a subscription of 82%. During the initial day of subscription, the IPO had garnered a subscription of 34%, with NII portion subscribed at 36% and the retail portion at 48%. The QIBs portion had a subscription of 29%. The subscription period for the Bharti Hexacom IPO will conclude today, Friday, April 5. The price…

Union Minister Anurag Thakur outlined the government’s objective of transforming India into ‘Viksit Bharat’ by 2047 during an address to IT professionals. He criticized the previous UPA government, citing corruption and scams as major hindrances to progress. Thakur emphasized the need to remind the younger generation about the various scams that occurred between 2009 and 2014 under the UPA regime, such as the 2G scam, CWG scam, AgustaWestland, and Coal scam. He highlighted the BJP’s promise of providing a clean government under the leadership of Narendra Modi, with no corruption allegations against him or his ministers. Praising the Modi-led government,…

Brokerages maintained their bullish outlook on Bandhan Bank following the lender’s robust business update for the quarter ended March 31, which exceeded expectations. Bandhan Bank reported a 15.1% quarterly growth in deposits and a notable 25.1% surge on a year-on-year basis. Furthermore, the growth in Current Account Savings Account (CASA) deposits stood at 18% both quarterly and annually. Nomura highlighted Bandhan Bank’s strong growth momentum, particularly driven by improved microfinance (MFI) collections. The brokerage also emphasized the robust growth in deposit base, supported by healthy expansion in retail and bulk deposits. Nomura emphasized that the key factor for Bandhan’s re-rating…

Asian shares pulled back on Friday due to hawkish comments from some Federal Reserve officials and escalating geopolitical tensions, dampening risk sentiment. Brent futures remained above $90 a barrel due to concerns about supply disruptions amid prolonged conflict in the Middle East. Israel braced for potential retaliation after its suspected killing of Iranian generals in Damascus, prompting Prime Minister Benjamin Netanyahu to assert that the country would retaliate against any threat. U.S. President Joe Biden, in a call with Netanyahu, warned of conditioning support for Israel’s offensive in Gaza on ensuring the protection of aid workers and civilians. Rodrigo Catril,…

HDFC Bank, India’s largest private sector lender, has been gradually increasing its home loan interest rates linked to the repo rate since January of this year, despite the Reserve Bank of India (RBI) maintaining the repo rate unchanged since April of the previous year. As the name suggests, repo rate-linked home loan rates are expected to adjust with changes in the repo rate. However, this rise in interest rates leads to higher loan interest costs, prompting borrowers to explore ways to pay off their debt earlier in life. There are several effective strategies you can employ to accelerate the repayment…

Samsung Electronics announced on Friday a significant surge of over 10 times in its first-quarter operating profit, driven by the rebounding prices of semiconductors, which boosted earnings from a low base a year ago during a severe downturn in chip demand. The world’s largest memory chip and TV maker estimated its operating profit to have risen to a better-than-expected 6.6 trillion won ($4.89 billion) in the quarter ended March 31. This marked a 931% increase from 640 billion won recorded a year earlier, as stated by the South Korean company in a short preliminary earnings statement. It would also mark…

The Reserve Bank of India (RBI) Governor Shaktikanta Das is set to announce the first bi-monthly monetary policy of the financial year 2024-25 today. The two-day meeting of the Monetary Policy Committee (MPC) led by RBI governor Shaktikanta Das commenced on Wednesday, April 3, and concludes on April 5. It is widely anticipated that the central bank will maintain a status quo on key policy rates. RBI governor Shaktikanta Das will reveal the interest rate decision of the bi-monthly monetary policy meeting at 10 am. The status quo is expected to be maintained on policy rates while assessing the impact…

Meta Platforms has rejected an effort by the U.S. Federal Trade Commission (FTC) to modify a 2020 privacy settlement, asserting that it voluntarily disclosed two technical errors related to its Messenger Kids app to the agency. According to Meta, it revealed these bugs in July 2019 and has since invested $5.5 billion in its privacy program and associated initiatives. The FTC has not yet responded to Reuters’ request for comment on the matter. The focus of contention is an existing 2020 privacy settlement with Facebook, aimed at prohibiting the exploitation of minors’ data and expanding restrictions on facial recognition technology.…

In the 18th match of the Indian Premier League (IPL) 2024, CSK Vs SRH ,Sunrisers Hyderabad (SRH) will host Chennai Super Kings (CSK) at the Rajiv Gandhi International Stadium in Hyderabad. While CSK aims to bounce back after their first defeat of the season against the Delhi Capitals, SRH is looking to regain confidence after their recent loss. Notably, in their last match at the home ground, SRH recorded the highest total in IPL history. Sunrisers and Super Kings have faced each other in 20 matches so far, with CSK emerging victorious in 15 encounters, while SRH has won only…

Gold prices took a breather on Friday following a surge to historic highs in the previous session amid expectations of lower U.S. interest rates this year, with traders awaiting further signals from an important jobs report scheduled later in the day. Key Points: