Author: Legal Parivar

Suven Pharmaceuticals witnessed a 5% surge in its shares on Saturday, marking a two-day gain of 15% following the announcement of its merger with Cohance Lifesciences. This strategic move aims to establish the combined entity as a prominent integrated CDMO (Contract Development and Manufacturing Organization) player in both the Indian and global markets. Upon completion of the merger, existing shareholders of Cohance will receive shares of Suven at a ratio of 11 shares of Suven for every 295 shares of Cohance, as per the agreed swap ratio. The newly issued Suven shares will be available for trading on both the…

Today, Tata Steel, Tata Motors, Adani Enterprises, Reliance Industries, and Grasim Industries all reached new 52-week highs. The Nifty 50 rose by 56.25 points (0.25%), and the Sensex increased by 114.91 points (0.16%) as of 02 Mar 2024 at 10:59:57 IST. Bank Nifty saw a gain of 22.0 points (0.05%) as of 02 Mar 2024 at 10:00 IST. Within the BSE Sensex index, some stocks were the top gainers, while others were the top losers. In the Bank Nifty index, Punjab National Bank, State Bank Of India, IDFC First Bank, Bandhan Bank, and Bank Of Baroda were the top gainers,…

Former Indian cricketer and BJP MP from Delhi, Gautam Gambhir, has expressed his request to party president JP Nadda to relieve him from his political responsibilities. In a post on X (formerly Twitter), Gambhir shared this decision, stating his intention to concentrate on upcoming cricket engagements. “I have requested Hon’ble Party President JP Nadda ji to relieve me of my political duties so that I can focus on my upcoming cricket commitments. I sincerely thank Hon’ble PM Narendra Modi ji and Hon’ble HM Amit Shah ji for giving me the opportunity to serve the people. Jai Hind!” he wrote. Since…

Exicom Tele-Systems IPO: Subscription for Exicom Tele-Systems Limited’s initial public offering (IPO) concluded on February 29, 2024, Thursday. Now, investors await the announcement of share allocation, expected imminently. Following the T+3 listing rule, the Exicom IPO allotment date is likely to be today or March 4, 2024, Monday. Investors who participated in the public issue are advised to check the Exicom IPO allotment status online through the BSE website or the official registrar’s website, Link Intime Private Limited. The grey market has shown strong bullish sentiment towards the Exicom IPO, with the grey market premium (GMP) today standing at ₹157,…

Commerce and Industry Minister Piyush Goyal expressed satisfaction with the outcome of the 13th Ministerial Conference of the World Trade Organization (WTO), stating that India retains its full policy space to safeguard the interests of farmers and fishermen. Goyal highlighted that India’s procurement of food grains for distribution to the needy remains unaffected. Despite the inability of members to reach a consensus on crucial issues like agriculture and fisheries subsidies, the conference was extended by a day. While no decision was made on permanent solutions for public food stockpiling or fisheries subsidies, the moratorium on e-commerce trade import duties was…

Sanjeev Bikchandani, co-founder of Info Edge, has urged the Competition Commission of India (CCI) to intervene against what he calls Google’s anti-competitive actions. On March 1, Google delisted several apps from the Play Store, including Info Edge’s flagship Naukri app, citing non-compliance with its app billing policy. Info Edge, a prominent internet company in India, expressed surprise at the delisting, stating that Google provided inadequate notice. The company is currently working with Google to reinstate its apps promptly. According to sources, Info Edge received notice of non-compliance for Naukri and 99acres only hours before the delisting. This move is part…

Hero MotoCorp’s stock saw a 1.56 percent increase to Rs 4,577.45 on March 2 following the company’s report of a 19 percent surge in February sales compared to the same period last year. The leading manufacturer of motorcycles and scooters in the country sold 468,410 units in February, marking a significant growth from the 394,460 units sold in February 2023. Hero MotoCorp is focusing on ramping up the volumes of its Harley-Davidson X440 and Mavrick 440 models, with the first phase expected to be completed by the middle of this year. January 2024 saw the company selling 433,598 units. Additionally,…

Cipla stock edged up by 1.43 percent on March 2, nearing the 52-week high it reached in the previous session by just Rs 2. The United States Food and Drug Administration (USFDA) conducted an inspection of Cipla (Jiangsu) Pharmaceutical’s manufacturing facility in Qidong, Jiangsu Province, China, from February 26 to March 1. Cipla announced that the inspection concluded with no Form 483 observations. In a separate disclosure, the company informed the stock exchanges about the completion of the transfer of its generics business. “The company has finalized the transfer of Generics Business Undertaking as a going concern on a slump…

On March 2, the NSE Nifty 50 index reached a new all-time peak of 22,420, while the BSE Sensex surged to 73,982 during a special trading session. Both indices closed the first session with marginal gains of around 0.2 percent compared to the previous day’s close, with the Nifty at 22,395 and the Sensex at 77,860 by 10 am. The Nifty Midcap 150 and Nifty Smallcap 100 indices also saw an uptrend, rising over 0.6 percent to conclude the first session at 18,083 and 15,159 points, respectively. Despite expectations of low trading volumes during the special session, called to test…

Info Edge (India) witnessed a nearly 3% decline in its share price during Saturday’s trading session following the company’s disclosure to the stock exchanges regarding the removal/delisting of several mobile applications from the Google Play Store by Google, including those belonging to various other companies/entities. The delisted mobile applications from Info Edge included the Naukri.com Job Search App, Naukri Recruiter, Naukrigulf Job Search App, 99acres Buy/Sell/Rent Property, and Shiksha. At the opening of the trading day, Info Edge’s share price stood at ₹5,200 per share on the BSE. Throughout the session, the stock witnessed an intraday low of ₹5,130 and…