Author: Legal Parivar

The Indian stock market extended its winning run on Monday, buoyed by easing trade tensions between the United States and China and growing expectations of a U.S. Federal Reserve rate cut. Key benchmark indices (Sensex) ended the day more than 0.6% higher, led by gains in heavyweight stocks and strong performances in banking and energy shares. The Nifty 50 climbed 0.66% to close at 25,966.60, while the S&P BSE Sensex advanced 0.67% to finish at 84,778. Major contributors to the rally included Reliance Industries, Bharti Airtel, Infosys, SBI, and Axis Bank. Broader markets mirrored the upbeat sentiment, with the Nifty…

Shares of Vodafone Idea Ltd jumped as much as 10% on Monday, hitting their highest levels since September 2024, after the Supreme Court allowed the Indian government to reassess the company’s adjusted gross revenue (AGR) dues. The telecom stock crossed ₹10.50 per share in afternoon trade, reflecting renewed optimism over the company’s financial revival prospects. The development follows Vodafone Idea’s recent petition challenging the Department of Telecommunications’ (DoT) demand for an additional ₹9,450 crore in AGR dues. The apex court clarified that any relief for the company will fall under the government’s policy discretion. Earlier this year, the Indian government…

Swiss pharmaceutical giant Novartis AG has agreed to acquire Avidity Biosciences Inc. in a $12 billion all-cash deal, marking its largest acquisition in more than ten years. The move aims to strengthen Novartis’s pipeline with next-generation treatments as it faces growing competition from generic versions of its key drugs. Under the agreement, Novartis will pay $72 per Avidity share in cash, representing a 46% premium over Avidity’s closing price on Friday. The acquisition was first reported by Bloomberg News. Avidity Biosciences, a US-based biotech firm, is developing experimental therapies for rare and genetic diseases, including myotonic dystrophy type 1, a…

PL Capital has appointed seasoned banker Zarin Daruwala as its Group Chief Executive Officer, effective October 13, the company announced on Monday. Daruwala brings with her over 35 years of experience in corporate and retail banking, governance, and strategic leadership. Before joining PL Capital, she served as the CEO for India and South Asia at Standard Chartered Bank, a position she held for nine years. Prior to that, she spent 26 years at ICICI Bank, where she held several key leadership roles. During her tenure at Standard Chartered, Daruwala was credited with transforming the bank’s operations in the region, driving…

Shares of Godrej Properties Ltd rose on Monday after the real estate developer received regulatory approval for the first phase of its luxury residential project, Godrej Trilogy, located in Worli, Mumbai. The stock climbed up to 2.8% to an intraday high of ₹2,352, before trading 1.73% higher at ₹2,327.40 on the NSE around 2:30 p.m. The project, with an estimated gross revenue potential of over ₹10,000 crore, will come up on a 2.63-acre land parcel as part of a joint redevelopment in one of Mumbai’s most premium neighborhoods. Phase 1, now approved by the Maharashtra Real Estate Regulatory Authority (MahaRERA),…

India’s digital payments ecosystem continues to surge, with the Unified Payments Interface (UPI) leading the charge. Fueled by the festive season and strategic policy reforms, UPI has set new records, cementing its role as the backbone of the country’s financial technology (FinTech) landscape. UPI: Dominating Transactions in India The momentum of UPI accelerated sharply in October 2025, driven by major festive shopping periods like Diwali, along with supportive economic conditions, including Goods and Services Tax (GST) rate cuts. UPI now accounts for nearly 85% of all digital transaction volumes in India, though its share in transaction value remains lower due…

The National Payments Corporation of India (NPCI) has announced a major reform in the Unified Payments Interface (UPI) framework, increasing the per-transaction limit for Person-to-Merchant (P2M) payments in select high-value categories to ₹5 lakh, with a daily cumulative cap of up to ₹10 lakh in some cases. This marks a significant leap from the previous limits of ₹1 lakh (or ₹2 lakh in specific cases) and signifies UPI’s evolution from small-value transfers to a robust platform for large-scale, high-value commerce. Key Highlights of the New UPI Rules The revised limits apply exclusively to verified merchants and select sectors, while Person-to-Person…

Boeing Co.’s factory workers in St. Louis have rejected a proposed five-year labor contract that included an average wage hike of 24%, prolonging a three-month strike that has hit the aerospace giant’s key military manufacturing operations. The International Association of Machinists and Aerospace Workers (IAM), representing 3,200 employees under District 837, confirmed the outcome on Sunday, saying the vote sends a clear message to Boeing management. “Boeing claimed they listened to their employees – the result of today’s vote proves they have not,”said IAM International President Brian Bryant in a statement. Strike Impact The workers have been on strike since…

The Central Government has announced that new bank nomination rules under the Banking Laws (Amendment) Act, 2025 will take effect from November 1, 2025. These rules are designed to offer greater flexibility, transparency, and depositor protection, according to a statement by the Finance Ministry. For the first time, bank customers will be able to nominate up to four individuals for their savings accounts, fixed deposits, lockers, and articles kept in safe custody. Key Objectives of the New Rules The government said the amendments aim to: These reforms are part of a broader effort to enhance governance and customer convenience within…

The Central Government has issued a crucial clarification on the applicability of the recently enhanced gratuity ceiling of ₹25 lakh. According to a new order from the Department of Pension and Pensioners’ Welfare (DoPPW), the higher gratuity limit will apply only to Central Government civil servants governed by either the Central Civil Services (Pension) Rules, 2021 or the Central Civil Services (Payment of Gratuity under National Pension System) Rules, 2021. This means the revised gratuity limit does not extend to employees of public sector undertakings (PSUs), banks, port trusts, the Reserve Bank of India (RBI), autonomous bodies, universities, state governments,…