Author: Legal Parivar

Competition and Consumer Commission of Singapore (CCCS) has conditionally approved the merger between Vistara and Air India, allowing the Singapore Airlines (SIA) group to hold a 25.1% stake in the merged entity, which will be Air India. This approval follows the clearance by the Competition Commission of India (CCI) six months ago. The approval enables the airlines to collaborate closely on routes, codeshare agreements, and reciprocal benefits. It also allows the merged entity to proceed with integrating its international and domestic networks. Both the Indian and Singaporean approvals are contingent upon the merged entity maintaining services on routes between India…

The INDIA bloc of the opposition is reported to have offered eight Lok Sabha seats to Chirag Paswan, the Chief of the Lok Janshakti Party (Ram Vilas), in Bihar, amidst ongoing seat-sharing disputes within the National Democratic Alliance (NDA) partners in the state. According to sources cited in an NDTV report, Chirag Paswan’s party has also been offered two seats in Uttar Pradesh. This proposal of ten seats across two states holds significance as the NDA has purportedly offered only six seats to Chirag Paswan, with the condition that two of those six seats be shared with his uncle and…

Tata Chemicals witnessed a significant surge of around 8 percent in morning trading on March 7, reaching a 52-week high of Rs 1,271.15, marking its sixth consecutive session of gains. The stock has been on an upward trajectory since March 1, following the announcement that Fitch Ratings affirmed its Long Term Foreign Currency Issuer Default Rating (IDR) at BB+ and revised the outlook to “stable” from “positive”. As of 9:49 am, Tata Chemicals was trading 7.6 percent higher at Rs 1,269 on the National Stock Exchange (NSE). Over the past five sessions, the stock has rallied by 33 percent. In…

Prime Minister Narendra Modi is set to visit Srinagar, the capital of Jammu and Kashmir, on Thursday, where he will take part in the ‘Viksit Bharat Viksit Jammu Kashmir’ program at Bakshi Stadium. During the event, PM Modi will unveil projects and programs worth ₹5,000 crore in Jammu & Kashmir. As the Lok Sabha elections draw near, PM Modi has been extensively traveling across various states, inaugurating several projects to bolster support for his Bharatiya Janata Party (BJP). Here’s a rundown of PM Modi’s itinerary in Srinagar:

The Delhi Rouse Avenue Court has issued summons to Delhi Chief Minister Arvind Kejriwal to appear in person on March 16, following a fresh complaint filed by the Enforcement Directorate (ED) for allegedly disregarding its summonses. The new complaint relates to Kejriwal allegedly failing to comply with summonses numbered 4 to 8 sent by the federal probe agency under Section 50 of the Prevention of Money Laundering Act (PMLA). Kejriwal, aged 55, has challenged all the ED summonses as “illegal”. He had previously informed the agency that he could be questioned via video conferencing after March 12. “We have not…

Bharat Electronics’ shares surged over 2% to reach a 52-week high in early trading on Thursday following UBS’s upward revision of the stock’s target price. BEL’s share price rose by 2.30% to ₹215.35 on the BSE after UBS reiterated its ‘Buy’ rating on Bharat Electronics shares and raised the target price to ₹257 per share from ₹205. Additionally, UBS assigned a 35x PE to March FY26E earnings, compared to 30x earlier, citing improved earnings and strong momentum in new orders. The defense PSU, Bharat Electronics, has witnessed a significant increase in new orders in FY24, surpassing consensus estimates for the…

MVK Agro Food Product’s share price experienced a lackluster debut on the NSE SME platform today. The stock opened at ₹79, marking a 34.17% decline from its issue price of ₹120. Despite the weak start, the shares quickly reached the 5% upper circuit limit. The MVK Agro Food Product IPO was open for subscription from Thursday, February 29, to Monday, March 4. The IPO’s price band was set at ₹120 per share, with a lot size of 1,200 shares. Investors could bid for a minimum of 1,200 shares and in multiples thereof. Specializing in sugar production, by-products utilization, and power…

Phoenix Mills shares experienced a rise of approximately 3.7 percent following HSBC’s upward revision of its target price for the stock. HSBC, maintaining its ‘buy’ recommendation on Phoenix Mills, increased the target price to Rs 3,130 per share from the previous close of Rs 2,707.3, indicating a potential upside of 15.6 percent. Highlighting the company’s transition from mall operators to a diversified and growth-oriented entity, HSBC noted that the current valuation reflects this evolution. The stabilisation of new malls and the office portfolio is anticipated to drive high double-digit growth, according to HSBC. At 10 am, shares of Phoenix Mills…

IIFL Finance saw a notable recovery on March 7, surging over 8 percent in morning trading. This rebound follows a 35 percent decline over the last two sessions, triggered by the RBI’s decision to prohibit the company from issuing gold loans. The stock’s sharp turnaround came after IIFL Finance announced that Canadian billionaire Prem Watsa has agreed to extend $200 million in liquidity support to the company in case it faces any funding challenges following the regulatory restrictions on its gold loan business. Watsa, backed by Fairfax India Holdings Corporation, holds stakes in IIFL Finance and other IIFL group entities.…

In early trading on March 7, Jupiter Wagons witnessed a significant 6 percent jump as it secured a substantial order worth Rs 957 crore from the rail ministry. At 9:31 am, Jupiter Wagons was trading at Rs 384.30 on the BSE, marking an increase of Rs 22.40 or 6.19 percent. The company announced, “The Ministry of Railways (Railway Board) has awarded a contract to the company for the manufacturing and supply of 2,237 BOSM wagons for a total value of Rs 956,87,67,500.” In the quarter ending December 2023, Jupiter Wagons reported an impressive 82.6 percent increase in net profit, reaching…