Author: Legal Parivar

Vedanta shares saw a modest increase of over 1% in early trading on July 4, following the company’s business update for the June quarter. Led by Anil Agarwal, the conglomerate reported higher production levels of aluminium, zinc, iron ore, and steel during Q1FY25. Specifically, Vedanta noted a 3% growth in aluminium output to 596,000 tonnes and stable zinc production at 262,000 tonnes in India. However, Zinc International experienced a decline in mined metal output from 68,000 tonnes to 38,000 tonnes year-over-year. In contrast, the company’s oil and gas production decreased by 17%, averaging 112,400 barrels of oil equivalent per day…

UltraTech, under the leadership of Kumar Mangalam Birla, is currently engaged in advanced negotiations to acquire Orient Cement Ltd (OCL) from CK Birla, according to a report from Economic Times. This move marks a renewed effort amidst significant consolidation activities in the cement sector. UltraTech aims to outbid Adani Cement and enhance its presence in southern and western markets, particularly Maharashtra and Telangana. Recently, UltraTech acquired a 23% stake in India Cements, signaling its robust expansion strategy. Sources familiar with the matter revealed to ET that UltraTech has proposed a price range of Rs 350-375 per share for Orient Cement,…

Filing your Income Tax Return (ITR) in India is not only a legal requirement but also offers numerous benefits for taxpayers. Here’s a look at some major advantages: Benefits of Filing ITR Steps for Online Registration on the e-Filing Portal The deadline for filing ITRs for the financial year 2023-24 (AY 2024-25) is approaching. Taxpayers must submit their returns by July 31, 2024. With the emphasis on digital filing, registering on the e-filing portal is essential. You will need your Aadhaar card, PAN card, a valid mobile number, and a valid email ID. Online Registration Guide Once the procedure is…

Emcure Pharmaceuticals IPO: The initial public offering (IPO) for Emcure Pharmaceuticals began on July 3, 2024, and will remain open for bidding until July 5, 2024. The IPO price band has been set between ₹960 to ₹1008 per equity share. The public issue received a strong response on its first day and has garnered bullish interest in the grey market. Emcure Pharmaceuticals IPO Grey Market Premium Currently, the grey market premium (GMP) for Emcure Pharmaceuticals IPO is ₹333, which is an increase of ₹38 from the previous day’s GMP of ₹295. This rise is attributed to strong investor interest and…

At 09:24 am on July 4, Brigade Enterprises’ share price climbed by 3.20%, reaching Rs 1,410.90 on the BSE, up Rs 43.80. The company revealed plans for a joint development residential project on Tumkur Road in West Bangalore, spanning 8 acres. This project will encompass a development area of about 1.2 million square feet, with an estimated Gross Development Value (GDV) of around Rs 1,100 crore. In June, Brigade signed an agreement to develop a third tower of the World Trade Center (WTC) at Infopark Kochi, a project valued at Rs 150 crore, expected to be completed in three years.…

GE T&D India share price surged to a 52-week high of ₹1,723.55, hitting the 5 percent upper circuit in early trade on July 4, following the announcement of two significant orders. At 09:19 AM on the BSE, GE T&D India was trading at ₹1,723.55, up ₹82.05. The company secured an order worth €64 million from Grid Solutions SAS, France, for the supply and supervision of high-voltage products, to be executed over the next two years. Additionally, GE T&D India received an order from GRID SOLUTIONS Middle East FZE, Dubai, valued at €26 million for similar high-voltage products, with completion expected…

Inox Wind Limited (IWL) has received a ₹900-crore capital infusion from its promoter, Inox Wind Energy Limited (IWEL). The funds were raised through the sale of IWL’s equity shares in block deals on stock exchanges, attracting participation from several high-profile investors. According to a filing with the Bombay Stock Exchange (BSE), IWEL finalized the capital infusion on July 4, marking a significant step toward achieving a debt-free status for IWL. The proceeds will be used to retire the company’s external term debt, enhancing its financial position and accelerating growth prospects. CEO Kailash Tarachandani expressed optimism about the company’s future. “This…

The Government of India and telecom regulator have decided not to intervene or prevent telecom companies from raising mobile tariffs, according to an Economic Times report. Telecom tariffs in India remain among the lowest globally, prompting authorities to urge telecom companies to prioritize improving service quality. Officials emphasized that the situation is “not critical” and does not require intervention. “There is enough competition in the telecom sector, and the situation is not critical and requires intervention from the authorities. Consumers may feel some pinch of the price rise, but the hike has happened after three years,” an official told ET.…

Bajaj Finance’s share price gained over a percent in early trade on Thursday following a robust business update for the first quarter of FY25. The non-banking finance company (NBFC) reported a 31% increase in total assets under management (AUM), reaching ₹354,100 crore as of June 30, 2024, compared to ₹270,097 crore in June 2023. AUM grew by approximately ₹23,500 crore in Q1 FY25, according to a regulatory filing by Bajaj Finance. New loans booked saw a 10% year-on-year (YoY) growth, totaling 10.97 million in the quarter ended June 2024, up from 9.94 million in the same period last year. The…

1. Surge in Speculative Market Activity Among Young Investors The share of Indians under 30 on the National Stock Exchange of India has nearly doubled since the pandemic, now making up 40.1% of the 95 million registered investors in May, up from 22-23% in 2018-19, according to the Mint. This age group has been the largest on the NSE for the past three years. Why it’s important: The stock market’s growth has attracted GenZ to speculative activities, such as index options and cash market trading. Some may transition to more serious investing. 2. UltraTech in Advanced Talks to Acquire Orient…