Author: Legal Parivar

The sci-fi epic “Kalki 2898 AD,” featuring Prabhas, Deepika Padukone, Amitabh Bachchan, and Kamal Hassan, has hit theaters across India, sparking a range of reactions on social media. One viewer praised the film’s Hollywood-level quality, stating, “I couldn’t believe my eyes—am I watching an Indian movie or a Hollywood blockbuster? The quality and graphics are uncompromised. Congratulations to the entire team, especially Nag Ashwin. Love you, man.” Others described it as a “stellar” and “masterpiece,” lauding the visuals but noting some flatness in the screenplay. One viewer appreciated Prabhas’ performance, noting, “I lost all faith in Prabhas after watching Adipurush…

Yes Bank has reportedly terminated approximately 500 employees across various departments as part of a restructuring initiative aimed at cost-cutting and transitioning towards digital banking, according to The Economic Times. The bank is said to have provided severance pay equivalent to three months’ salary to the affected employees. Sources cited by ET mentioned that Yes Bank initiated the restructuring following advice from a multinational consultant. The bank is focusing on becoming a more agile and customer-centric organization, aiming for operational efficiency through a leaner workforce and increased reliance on digital platforms over manual processes. In response to inquiries, a Yes…

PI Industries witnessed a more than 5% jump in its share price during early trading on Thursday following the announcement of its acquisition of UK-listed Plant Health Care Plc (PHC). The acquisition, valued at approximately 32.8 million pounds, will be executed through PI’s wholly-owned international subsidiary using cash from earlier Qualified Institutional Placement (QIP) proceeds. Strategic Rationale According to PI Industries, the acquisition of PHC aligns with its long-term strategic goal of enhancing its portfolio with integrated solutions for sustainable agriculture. PHC brings advanced biological and peptide technology platforms in the “Plant Immunity Inducers” sector, complementing PI’s existing portfolio of…

On Thursday, June 27, UltraTech Cement announced that its board has approved the acquisition of a 23% equity stake in India Cements. The deal involves purchasing 7.06 crore shares of India Cements at Rs 267 per share, amounting to approximately Rs 1,900 crore in total. Deal Details The acquisition follows a significant block deal on the same day where 20% equity stake in India Cements was sold. The specifics of the buyers and sellers were not immediately disclosed. Market Reaction India Cements’ stock surged up to 7% in early trading, building on a 14% gain from the previous session. Ownership…

On Thursday, June 27, a significant 20% equity stake in India Cements was sold in a block deal. Details of the buyers and sellers were not immediately disclosed, although CNBC TV18 had earlier reported that UltraTech Cement was interested in acquiring a stake in India Cements. Deal Highlights The block deal involved 6 crore shares traded at Rs 265 per share, totaling approximately Rs 1,600 crore in value. Market Reaction India Cements’ stock had surged 14% in the previous session, closing at Rs 261.5 on Wednesday, June 26.

On June 27, approximately 9.7% of CSB Bank stake was sold in a block deal worth Rs 595 crore, likely executed by promoter FIH Mauritius Investments. Deal Details About 1.70 crore shares were traded on the exchanges at an average price of Rs 353 per share, representing a nearly 1% discount from the previous closing price. CNBC Awaaz had earlier reported that FIH Mauritius Investments aimed to sell its 9.72% stake in the Kerala-based private lender through this block deal, raising Rs 595 crore. Promoter Holding Adjustment As per the latest shareholding data, the promoter initially held 49.72% stake in…

Dr. Reddy’s Laboratories has made headlines with its announcement of acquiring consumer healthcare brands in the Nicotine Replacement Therapy category, excluding the United States. This move, revealed post-market hours on Wednesday, involves a definitive agreement with Haleon plc and its associate companies. Acquisition Details Dr. Reddy’s Laboratories SA, Switzerland, a wholly owned subsidiary, will acquire all quotas of Northstar Switzerland SARL, a company within the Haleon Group based in Switzerland. The acquisition includes four prominent brands, including the global leader Nicotinell, which generated GBP 217 million in sales in CY23. Financial Terms The acquisition entails an upfront cash consideration of…

Kalki 2898 AD: In Telangana, crowds gathered at Sandhya Theatre in Hyderabad to watch the new movie starring Amitabh Bachchan, Kamal Haasan, Prabhas, and Deepika Padukone. A video captures the enthusiastic masses celebrating its release with singing and dancing. The film premiered today, and cinema enthusiasts expressed their excitement by putting up cut-outs and posters of actor Prabhas.

The government has asked Tamil Nadu to submit a detailed report addressing allegations that Foxconn rejected married women for jobs at its iPhone assembly facility in Chennai, according to a Reuters report. The Ministry of Labour, in a statement, noted media reports suggesting that married women were not allowed to work at Foxconn’s India Apple iPhone plant. The Ministry cited Section 5 of the Equal Remuneration Act of 1976, which stipulates that no discrimination should occur while recruiting men and women workers. As the state government is responsible for enforcing this Act, the Ministry has requested a report from Tamil…

Nvidia shareholders have approved all proposals, including the compensation packages for CEO Jensen Huang and other executives, as well as the re-election of 12 directors. Huang reportedly earned $34 million in fiscal 2024. During the Annual General Meeting held on Wednesday, June 26, Nvidia stockholders approved all agenda items. These included the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for fiscal year 2025 and a stockholder proposal for a Simple Majority Vote. Highlights from the AGM Speaking at the AGM, Nvidia CEO Huang highlighted the potential of AI to automate $50 trillion worth of heavy industries.…