Author: Legal Parivar

In early trading on April 2, Aditya Birla Fashion & Retail’s (ABFRL) share price surged by the maximum 10% upper circuit following the board’s decision to evaluate the vertical demerger of its Madura Fashion & Lifestyle business from ABFRL into a separate listed company. At 09:20 AM, Aditya Birla Fashion & Retail was trading at Rs 232.85 on the BSE, up Rs 21.15. The stock witnessed pending buy orders of 237,159 shares, with no sellers available. Approximately 1.34 crore shares of ABFRL, equivalent to 1.41% equity, worth Rs 322.5 crore were traded at an average price of Rs 243 per…

Bharat Dynamics’ stock witnessed a slight downturn at the opening of trading on the NSE on April 2, following the manufacturer’s announcement of a 5.6% decrease in turnover. By 9:20 AM, the stock was trading at Rs 1,760.1. In an exchange filing issued after market hours on April 1, Bharat Dynamics disclosed a turnover of Rs 2,350 crore for the fiscal year ending March 2024, reflecting a 5.6% decline from the previous year’s Rs 2,489.4 crore. The company attributed this decline to the ongoing geopolitical tensions in Europe and the Middle East, which have disrupted its supply chain. However, Bharat…

A heartwarming tale of rediscovered investments has captivated social media, as Dr. Tanmay Motiwala recounted his grandparents’ unexpected discovery of long-forgotten State Bank of India (SBI) shares. Motiwala shared the story on platform X, revealing that his grandparents had invested ₹500 in SBI shares back in 1994, only to forget about it entirely over the years. The post quickly gained traction as Motiwala detailed how, during a consolidation of the family’s holdings, they stumbled upon the old SBI share certificates. Realizing the potential value of these forgotten investments, Motiwala promptly sent them for conversion to Demat. What was once an…

1) Rajasthan Royals (RR):Sanju Samson’s team has started the season strongly with wins against Lucknow Super Giants, Delhi Capitals, and Mumbai Indians. With key players like Riyan Parag, Jos Buttler, and top bowlers Trent Boult and Ravichandran Ashwin performing well, RR tops the table with 6 points and a net run rate of 1.249. 2) Kolkata Knight Riders (KKR):Shreyas Iyer’s squad remains unbeaten, securing victories in all their matches so far. Currently holding 4 points and a net run rate of 1.047, KKR will aim to claim the top spot when they face Delhi Capitals. 3) Chennai Super Kings (CSK):Under…

The SRM Contractors IPO is scheduled for listing tomorrow, April 3, after the allotment was finalized on Monday, April 1. Today, April 2, will witness the crediting of shares to demat accounts for allocated individuals, along with the completion of the share refunding process for those awaiting shares. The IPO received an overwhelmingly positive response over its three-day span, with a subscription status of 86.57 times, according to BSE data. Notably, the non-institutional investors (NIIs) portion was oversubscribed 214.94 times, while the retail portion saw a subscription of 46.97 times, and the qualified institutional buyers (QIBs) portion was subscribed 59.59…

S Jaishankar, India’s External Affairs Minister, emphasized the necessity for India to focus on manufacturing to compete with China economically. He highlighted that manufacturing was previously neglected before Prime Minister Narendra Modi came into office in 2014. Jaishankar stressed that to counter China’s economic dominance, India must prioritize manufacturing. Speaking at a corporate summit on “Bharat’s Economic Rising” organized by the Southern Gujarat Chamber of Commerce and Industry, Jaishankar reiterated the significance of manufacturing for India’s technological advancement. He underlined that strong manufacturing forms the foundation for robust technology development. Jaishankar also addressed the tension at the India-China border, emphasizing…

The Indian government has launched a new initiative aimed at promoting the adoption of electric vehicles (EVs) in the country. Implemented by the Ministry of Heavy Industries, this scheme officially began on April 1, following the conclusion of the FAME scheme on March 31. Under the earlier Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program, subsidies were available for EVs sold until March 31 or until funds were depleted. The new scheme, named the Electric Mobility Promotion Scheme 2024 (EMPS 2024), has a budget of INR 500 crore and will run until the end of July. EMPS…

Yaduveer Krishnadatta Chamaraja Wadiyar, the scion of the former Mysuru royal family and BJP candidate for the Mysore-Kodagu Lok Sabha constituency, disclosed in his election affidavit that he does not possess any house, land, or vehicle. In his nomination papers submitted on Monday, Wadiyar declared total assets amounting to approximately Rs. 5 crore. His wife, Trishika Kumari Wadiyar, holds assets valued at Rs. 1.04 crore, while a dependent individual owns assets worth Rs. 3.64 crore. Wadiyar’s asset portfolio includes gold and silver jewelry valued at Rs. 3.39 crore, while his wife possesses precious metals worth Rs. 1.02 crore. The 32-year-old…

Namdev Finvest Private Ltd, a non-banking finance company (NBFC) based in Bengaluru, announced on Tuesday that it has secured $20 million in an equity round as part of its pre-Series C funding. Maj Invest Financial Inclusion Fund III K/S led the investment round with a contribution of $16 million, while the Promoters Group & Employees also participated, contributing approximately $3 million. Founded in 2013 by Jitendra Tanwar, Namdev focuses on providing financial solutions to underserved populations in rural areas, operating across seven north-western Indian states. Jitendra Tanwar, the managing director & CEO of Namdev, expressed confidence in the company’s mission…

Walt Disney appears to have gained an advantage over activist investors in the ongoing battle for board seats and the future direction of the global entertainment conglomerate, with over half of all shares voted prior to the company’s annual meeting on Wednesday. T. Rowe Price, holding approximately 11.7 million shares in Disney, or about a 0.64% stake, has backed the company by voting to re-elect Maria Elena Lagomasino and Michael Froman, the two Disney directors challenged by Nelson Peltz’s Trian Fund Management. In another win for the company, it seems to have secured support from another significant investor, BlackRock, Disney’s…