Author: Legal Parivar

Shares of Avenue Supermarts Limited, the operator of the DMart chain of stores, surged by 6 percent to reach a new 52-week high of Rs 4,715 on the morning of April 4, following the company’s announcement of a 20 percent increase in standalone revenue for the March quarter. As of 9:40 am, the stock was trading at Rs 4,667, reflecting a 4.6 percent increase from the previous close. Over the past month, the share has seen a remarkable surge of over 20 percent. The company reported a revenue rise to Rs 12,393 crore in the final quarter of FY24. In…

Bank of India (BOI) has revised its fixed deposit interest rates for deposits below ₹2 crore, applicable from April 1, 2024. The bank now offers interest rates ranging from 3% to 7.25% for deposit periods spanning from 7 days to 10 years. Senior citizens receive an additional 50 basis points (bps) on tenors of 6 months and above, while super senior citizens are granted an extra 65 bps. For deposits below ₹2 crore and tenors of 3 years and above, senior citizens receive an additional premium of 25 bps, totaling 75 bps. Similarly, super senior citizens are offered an additional…

In the opening trade on April 4, the share price of KEC International soared by 10.12% to reach a 52-week high of Rs 802.45 after the company secured orders worth Rs 816 crore across its diverse business segments. As of 9:42 am, KEC International was trading at Rs 802.45 on the BSE, up by Rs 73.75 or 10.12%. The company’s civil business division has clinched orders for infrastructure projects within India, including the establishment of a steel plant in North India, construction of a cement plant in Central India, and the establishment of a carbon derivatives plant in East India.…

In early trade on Thursday, April 4, both the Sensex and the Nifty 50 surged to new all-time highs. The Sensex commenced trading at its fresh all-time peak of 74,501.73, marking a nearly 1% increase from its previous closing level of 73,876.82. Similarly, the Nifty 50 opened at 22,592.10, surpassing its previous close of 22,434.65, and quickly soared by about 1% to achieve its new record high of 22,619. As of around 9:25 am, the Sensex was up by 0.54% at 74,272, while the Nifty 50 had risen by 0.52% to 22,552. Additionally, the BSE Midcap index climbed to its…

HDFC Bank, India’s largest private sector bank, recorded gross advances of ₹25.08 lakh crore as of March 31, indicating a significant growth of approximately 55.4% compared to ₹16.14 lakh crore reported as of March 31 of the previous year. Sequentially, HDFC Bank’s advances witnessed a modest increase of 1.6%, rising from ₹24.69 lakh crore in December 2023. Factoring in transfers via inter-bank participation certificates and bills rediscounted, the bank’s advances expanded by approximately 53.8% compared to March 31, 2023, and by about 1.9% (₹472 billion) compared to December 31, 2023. It’s worth mentioning that HDFC Bank merged with HDFC Limited…

An earthquake of magnitude 6.3 on the Richter Scale strikes off the East Coast of Honshu, Japan Developing Story

Vodafone Idea witnessed a surge in its share price by over 3% on April 4 following its announcement that the board would consider issuing equity or convertible securities amounting to Rs 2,075 crore to one or more promoter group entities later in the week. Previously in February, the heavily indebted company’s board had greenlit a plan to raise Rs 20,000 crore through equity-linked instruments. Shareholders gave their nod to this proposal on April 3. According to Vodafone Idea’s regulatory filing, an overwhelming majority of both public and non-public institutions voted in favor of the fundraising initiative. The infusion of funds…

The ongoing crisis at Tata Group’s Vistara Airlines, marked by the cancellation of over 100 flights this week, is causing significant disruptions for travelers and may lead to a surge in air travel costs. Travel agents and platforms warn that if the issue persists, airfares could become more expensive, especially with the upcoming summer holiday season. Ajay Prakash, Board Member of the Federation of Associations in Indian Tourism & Hospitality (FAITH), emphasized the potential impact on fares due to capacity cuts, which could exacerbate the already high prices. He expressed concern about the looming summer holidays and urged for urgent…

Rahul Gandhi from the Congress and Annie Raja from the Communist Party of India (CPI) submitted their nominations for the Lok Sabha Election 2024 on Wednesday. Notably, Annie Raja is challenging Rahul Gandhi in the Wayanad constituency. The polling date for all 20 parliamentary seats in Kerala is April 26, marking the second phase of the nationwide elections. According to the Election Commission notification, the deadline for filing nomination papers is April 4. Before filing his nomination for the Wayanad Lok Sabha seat for a second term, MP Rahul Gandhi led a significant roadshow. During the event, he criticized the…

The demand for postponing the ICAI CA Intermediate and Final Exams 2024 is gaining momentum, with expectations of a petition being filed in the Delhi High Court urging the Institute of Chartered Accountants of India (ICAI) to reschedule the exams from May to June 2024, following the 18th Lok Sabha general elections 2024. Advocate Anubha Srivastava Sahai, a prominent advocate supporting the postponement of CA exams, announced her intention to file the petition within the next day or two. The push for postponement gained traction after the National Insurance Company Limited decided to postpone the Main Examination for Administrative Officers…