Author: Legal Parivar

The remarkable surge in Nvidia’s shares during a single trading session has intensified the already considerable interest in AI-based computing and associated technological innovations. Super Micro Computer, renowned for its commitment to green computing, has become a significant wealth generator for its investors. With a partnership with Nvidia, it stands as the world’s third-largest server provider, holding a market share of 5 percent. Benefiting from the explosive growth of the generative AI market, Super Micro Computer’s shares have surged by over 80 percent in the span of a month, delivering a remarkable return of 201 percent year-to-date for its shareholders.…

Razorpay, a leading merchant payment processing unicorn, is gearing up for an Initial Public Offering (IPO) in approximately two years following the closure of its reverse flipping process to India within the next six to twelve months. “We have already commenced the process of reverse flipping to India, and this is expected to take anywhere between 6-12 months to complete. We have factored in the costs and other aspects… We anticipate the IPO to be scheduled two years after our businesses break even,” stated Harshil Mathur, the co-founder and CEO of Razorpay, in an interview with Moneycontrol. Razorpay initiated the…

Indian equity indices continued their upward trajectory in the week ending February 23, building on the gains from the previous week. The Nifty50 index reached a fresh record high of 22,297.50, spurred by favorable macroeconomic data and support from global markets. Despite concerns about rising crude oil prices and US bond yields, investors remained optimistic. During the week, the BSE Sensex edged closer to its all-time high of 73,427.59, closing at 73,142.8, up by 1 percent. Similarly, the Nifty50 index climbed by 172 points or 0.78 percent to end at 22,212.70. The BSE Small-cap index also advanced by 0.8 percent,…

India’s per capita monthly consumption expenditure witnessed a notable surge of 33-40 percent during the period 2022-23 compared to 2011-12, as per the recent revelations from the government’s Household Consumer Expenditure Survey, unveiled on February 24. In rural areas, the survey unveiled a substantial 40 percent escalation in per capita monthly consumption, amounting to Rs 2,008, while urban regions experienced a 33 percent rise to Rs 3,510 after adjusting for inflation. This translates to an average annual growth of 3.1 percent for rural consumption and 2.7 percent for urban consumption, whereas India’s real GDP exhibited an average annual growth rate…

The government has approved the GST Network to share data on GST-registered businesses with the Reserve Bank’s ‘Public Tech Platform for Frictionless Credit,’ provided there is consent from the businesses. This move aims to expedite the loan approval process by leveraging shared Goods and Services Tax (GST) information. The Reserve Bank of India’s subsidiary, Reserve Bank Innovation Hub, has developed the Public Tech Platform for Frictionless Credit to facilitate seamless access to essential information for lenders, thereby streamlining credit disbursal. According to a notification from the Central Board of Indirect Taxes and Customs (CBIC), the ‘Public Tech Platform for Frictionless…

In an age of financial globalization, Indian firms, especially tech startups, are increasingly eyeing listings on US stock exchanges. This trend, driven by the allure of a broader investor base, increased visibility, and adherence to high governance standards, presents a dual prospect of opportunities and challenges. Opting for a US listing extends access to a diverse pool of institutional and retail investors, offering foreign firms an expanded shareholder base. Beyond capital infusion, the heightened visibility and credibility from a US listing can pave the way for strategic partnerships. The prestige associated with exchanges like Nasdaq and NYSE often translates into…

The Bharatiya Janata Party (BJP) is gearing up for the upcoming Lok Sabha elections, aiming to announce over 150 candidates after its central election committee convenes on February 29. Expected candidates include Prime Minister Narendra Modi from Varanasi, Home Minister Amit Shah from Gandhinagar, Defence Minister Rajnath Singh from Lucknow, and Transport Minister Nitin Gadkari from Nagpur, along with Parvesh Verma, Manoj Tiwari, and Ramesh Bidhuri from Delhi constituencies, as per sources cited by TOI. The selection will primarily focus on constituencies where the BJP holds a strong position and seeks to bolster its prospects. Union Ministers Could Feature Prominently…

The ruling Dravida Munnetra Kazhagam (DMK) in Tamil Nadu finalized its seat-sharing agreement with two alliance partners on Saturday. Following weeks of negotiations for the Lok Sabha elections, Chief Minister and Party President MK Stalin signed the agreement. Under the pact, the Indian Union Muslim League (IUML) secured the Ramanathapuram Parliament Constituency, while the Namakkal Parliament Constituency was allocated to Kongunadu Makkal Desiya Katchi. This announcement marks the first allocation of seats by DMK to its allies. In another development, Chief Election Commissioner Rajiv Kumar issued a stern warning to political parties regarding the “zero-tolerance policy” towards the “misuse of…

As the secondary market continues its positive momentum with the Nifty 50 reaching record levels last week, the primary market is poised for significant activity. Six IPOs, collectively valued at over Rs 3,300 crore, are scheduled to debut on Dalal Street, alongside five companies slated for listing on the bourses. Platinum Industries IPO: Leading the charge is stabilizers producer Platinum Industries, set to launch its IPO on February 27 and close on February 29, with a price band of Rs 162-171 per share. The company aims to raise Rs 235.32 crore through a fresh issue. Exicom Tele-Systems IPO: Electric vehicle…

Farmers engaged in the ‘Delhi Chalo’ march have asserted their determination to continue their protest until their demands are addressed, as stated by farmer leader Sarwan Singh Pandher on Saturday. He hinted that the agitation might persist even after the implementation of the model code of conduct for the Lok Sabha elections. Despite four rounds of discussions between Union ministers and farmer representatives resulting in a deadlock, the protesters carried out a candle march at Shambhu and Khanauri on the Punjab-Haryana border to honor a farmer who died during the ongoing agitation. Shubhkaran, a 21-year-old from Bathinda, lost his life…