Author: Legal Parivar

Dixon Technologies shares have been on an upward trajectory for nearly a year, witnessing a remarkable rise from around ₹2,893 to ₹7,626.90 per share on the NSE, marking a staggering 160 percent rally during this period. This electronic manufacturing services company has emerged as one of India’s multibagger stocks, and despite its significant gains, analysts suggest that there may still be further upside potential. The stock opened on a positive note today and reached an intraday high of ₹7,626.90 per share, setting a new record high for the fourth consecutive session. Experts point out that Dixon Technologies shares are attractively…

The much-anticipated initial public offering (IPO) of SRM Contractors Limited is anticipated to announce its share allocation today. Following a bidding window from Tuesday to Thursday last week, with Friday being a market holiday, investors are eagerly awaiting the allocation results. Ahead of the IPO allotment date, the grey market has shown significant bullish sentiment towards SRM Contractors IPO. Market observers report a grey market premium (GMP) of ₹126 for SRM Contractors shares today, marking a rise of ₹2 from the weekend and a notable ₹16 increase compared to the previous trading session. This surge in GMP is attributed to…

Vishwas Agri Seeds shares commenced trading on the National Stock Exchange SME (NSE SME) on April 1, opening at Rs 85, reflecting a discount of 1.1% from the issue price. Despite expectations of a 10-12% premium based on the grey market premium (GMP), the stock debuted at a lower price. The IPO, valued at Rs 25.8 crore, garnered a subscription of 12.2 times overall. Vishwas Agri Seeds specializes in processing seeds for various crops, selling them under the brand name “Vishwas.” By March 31, 2023, the company had developed seeds for over 40 different field crops and vegetables, boasting a…

Delhi Chief Minister Arvind Kejriwal, presently in ED custody in connection with a money laundering case linked to excise policy, is scheduled to appear before the Rouse Avenue court in Delhi at 11 am today, April 1. The court extended Kejriwal’s ED custody until April 1 during a hearing on March 28. The AAP leader was arrested by the Enforcement Directorate on March 21 in connection with an alleged liquor policy case. The investigative team filed a remand request on Thursday, citing the need for additional time to question the Delhi CM and confront him with other individuals. The ED…

Adani Power witnessed a 5% surge, hitting its upper circuit, as Reliance Industries (RIL) acquired a stake in its Madhya Pradesh project. The share price opened at ₹547.70, up from the previous close of ₹533.70, and quickly rose to hit the upper circuit level of ₹560.35 on the BSE. This spike in Adani Power’s share price follows the announcement of Mukesh Ambani’s Reliance Industries acquiring a 26% stake in a Madhya Pradesh power project owned by Gautam Adani. The agreement also involves a pact for Reliance to utilize 500 MW of electricity from the plant for captive use. As part…

The Indian equity benchmark Nifty50 soared to a new peak of 22,529.95 levels on April 1, marking the first trading session of FY2024-25, surpassing its previous record of 22,526.6. At 9:37 am, the Sensex surged by 567.59 points or 0.77 percent to 74,218.94, while the Nifty climbed by 192.20 points or 0.86 percent to 22,519.10. Market data indicated 2,606 shares advancing, 417 declining, and 128 remaining unchanged. According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the market displayed a bullish undertone with significant momentum, suggesting potential sustainability in the upward trend. Prashanth Tapse, Senior VP (Research) at…

The Reserve Bank of India (RBI) is commemorating its 90th anniversary this year, and today in Mumbai, Prime Minister Narendra Modi will deliver the keynote address, as announced by the central bank. RBI Governor Shaktikanta Das and Union Finance Minister Nirmala Sitharaman will also be in attendance. Established in 1935 as the central bank of the country, RBI operates under the regulations outlined in the Reserve Bank of India Act, 1934, along with the recommendations of the Hilton Young Commission. PM Modi is scheduled to speak at 11:00 IST, preceded by opening remarks from RBI Governor Shaktikanta Das. To watch…

Torrent Power, a prominent integrated power utility company, witnessed a significant uptick in its share price during Monday’s trading session following its successful bid for a wind-solar hybrid project. As per a recent exchange filing on Thursday (March 28), the company announced that it had received a letter of award from its ‘Distribution Unit’ for constructing a 150MW wind-solar hybrid project, involving an investment of ₹1,825 crore. The project is slated to be operational within 24 months from the signing of the Power Purchase Agreement (PPA), with a contractual supply of power spanning 25 years from its commissioning. Notably, the…

Rail Vikas Nigam Limited (RVNL) witnessed a robust surge in its share price, climbing over 5% in early trading on Monday. The state-owned railway company secured the position of the lowest bidder for multiple projects, driving investor optimism. RVNL shares surged by 5.02% to ₹265.65 per share on the BSE. RVNL emerged as the lowest bidder (L1) for a project aimed at upgrading the electric traction system for the Kharagpur section of the Kharagpur division of South Eastern Railway, with a project cost of ₹148.26 crore. Additionally, in a separate regulatory filing, RVNL revealed its L1 status for another project…

The allotment of Vruddhi Engineering Works IPO shares will be finalized today, Monday, April 1. Investors can track the IPO allotment status through the registrar’s website, Bigshare Services Pvt Ltd. Using the basis of allotment, investors can verify the number of shares allocated to them. The application refund process will commence for those who did not receive shares, with shares credited to allocated investors’ demat accounts by Tuesday, April 2, as soon as the allotment is finalized today. Vruddhi Engineering Works IPO is scheduled to be listed on BSE SME on Wednesday, April 3. To check the IPO allotment status,…