Author: Legal Parivar

Footwear major Bata India Ltd on Monday reported a 73.26% year-on-year (YoY) decline in its consolidated net profit to ₹13.9 crore for the quarter ended September 2025, marking its third consecutive quarterly drop in profit. The company had posted a profit of ₹51.98 crore in the same quarter last year. The sharp decline was attributed to lower revenue and rising expenses during the quarter. Bata, which owns popular brands such as Hush Puppies and North Star, also cited GST transition-related challenges in Q2, though it noted that the festive season showed early signs of recovery after September 22. Bata’s consolidated…

In a major relief for Vodafone Idea (Vi), the Supreme Court on Monday allowed the Department of Telecommunications (DoT) to re-examine the company’s adjusted gross revenue (AGR) dues, citing the “peculiar facts and circumstances” of the case. The decision offers the financially stressed telecom operator a long-awaited opportunity to seek a recalibration of its massive dues that have weighed on its balance sheet for years. A bench led by Chief Justice B.R. Gavai said there was no reason to prevent the Union government from reconsidering the amount owed by Vodafone Idea, especially since the issue now falls within the Centre’s…

Foreign investors continued their cautious stance on Indian equities, turning net sellers of ₹56 crore on Monday, October 27, 2025, according to provisional data from the exchanges. In contrast, domestic institutional investors (DIIs) remained strong buyers, with a net purchase of ₹2,492 crore worth of shares. During the session, DIIs bought shares worth ₹14,602 crore and sold shares worth ₹12,110 crore. Meanwhile, foreign institutional investors (FIIs) purchased equities worth ₹11,823 crore but offloaded shares valued at ₹11,878 crore. On a year-to-date basis, FIIs have been net sellers to the tune of ₹2.40 lakh crore, while DIIs have net invested ₹5.92…

Telecom infrastructure major Indus Towers on October 27 reported a 17.3% year-on-year (YoY) decline in its consolidated net profit to ₹1,836.6 crore for the quarter ended September 30, 2025, compared to ₹2,223.5 crore in the same period last year. The company had posted a profit of ₹1,736.8 crore in the previous quarter (Q1 FY26), marking a 6% sequential increase. Despite the drop in profit, total revenue grew 9.68% YoY to ₹8,188.2 crore, up from ₹7,465.3 crore in the corresponding quarter of the previous fiscal. Indus Towers’ EBITDA stood at ₹4,613 crore, down 6% YoY, while its EBITDA margin came in…

Zerodha, India’s largest stockbroker by revenue, is gearing up to allow its users to invest directly in US-listed stocks by early 2026, according to co-founder and CEO Nithin Kamath. During an Ask Me Anything session with the company’s leadership, Kamath said, “A lot of people have been asking about US investing. We’re working on it, and we should have something ready by the next quarter.” Expanding on the development, Kailash Nadh, Zerodha’s Chief Technology Officer (CTO), added that the feature has been a “long-pending project” and that the company now has regulatory clarity through GIFT City to proceed. “We’re focused…

Jayesh Logistics’ initial public offering (IPO) received an enthusiastic response from investors on October 27, the opening day of bidding. The issue was subscribed 3.98 times, with investors applying for 71.29 lakh shares against the 17.91 lakh shares available. Among investor categories, non-institutional investors (NIIs) led the charge, subscribing 7.77 times their allotted quota. The portions reserved for qualified institutional buyers (QIBs) and retail investors were subscribed 5.02 times and 2.22 times, respectively. The Kolkata-based logistics and supply chain management firm plans to raise ₹28.63 crore through the IPO, which consists of a fresh issue of 23.47 lakh shares priced…

Adani Energy Solutions Ltd (AESL) reported a 28% year-on-year (YoY) decline in consolidated net profit for the September quarter of FY26, with profit after tax (PAT) falling to ₹557.10 crore, compared to ₹773 crore in the same quarter last year. The company attributed the decline to a one-time deferred tax adjustment of ₹314 crore in Q2 FY25, which had inflated the previous year’s profit. In a statement, AESL clarified that the current quarter’s PAT is adjusted for that one-time impact for a like-to-like comparison. Despite the drop in profit, total income rose 6.4% YoY to ₹6,767 crore, up from ₹6,360…

India’s markets regulator, the Securities and Exchange Board of India (SEBI), has placed the initial public offering (IPO) of Sterlite Electric on hold, according to an update posted on SEBI’s website on Monday. Sterlite Electric, a subsidiary of the Vedanta Group, had filed its draft red herring prospectus (DRHP) in early October 2025. The proposed IPO included a fresh issue of 7.8 million shares, along with an offer for sale (OFS) of an equal number of shares by existing shareholders. SEBI did not disclose the reason behind the decision to pause the IPO process, and Vedanta Group has not yet…

Private equity firm Gaja Capital has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO), after filing draft papers through the confidential route — a move that marks a milestone for India’s alternative investment industry. This approval clears the path for India’s first IPO by a homegrown private equity firm, signaling growing maturity and investor confidence in the domestic PE landscape. Pre-IPO Placement and Valuation In June 2025, Gaja Capital raised ₹125 crore in a pre-IPO placement from prominent investors including HDFC Life, SBI Life, Akash Bhanshali, and Jagdish Master, valuing…

Indian Oil Corporation (IOC), the country’s largest state-owned refiner, reported a significant turnaround in its financial performance for the second quarter of FY26. The Maharatna PSU posted a consolidated net profit of ₹8,190.86 crore, marking a sharp recovery from a loss of ₹448.78 crore in the same quarter last year. Financial Performance Overview For the quarter ended September 2025, IOC’s revenue from operations stood at ₹2,06,447 crore, reflecting a 3.94% year-on-year (YoY) growth compared to ₹1,98,615 crore in Q2 FY25. The improvement was primarily driven by strong refining margins, stable crude prices, and steady fuel demand recovery in India. On…