Author: Legal Parivar

Indian benchmark indices (Sensex & Nifty) recovered from early losses to close in the green on Monday, marking a positive start to the week. Gains were driven by strong buying in realty, PSU banking, and pharma stocks, even as markets witnessed volatility through the session. At the close, the Sensex rose 39.78 points (0.05%) to settle at 83,978.49, while the Nifty 50 gained 41.25 points (0.16%) to finish at 25,763.35. Market breadth remained positive, with 2,144 stocks advancing, 1,896 declining, and 205 remaining unchanged. The broader markets outperformed, as both the Nifty Midcap and Smallcap indices climbed 0.7% each, showing…

Bharti Airtel Ltd reported a 73.6% year-on-year increase in consolidated net profit to ₹6,792 crore for the July–September quarter of FY26, driven by higher operating earnings, continued premiumisation in its mobile business, and record customer additions in its home broadband segment. The telecom giant’s average revenue per user (ARPU) rose to ₹256, up from ₹233 a year ago, reflecting its focus on higher-value customers and growing data usage. Airtel’s consolidated revenue for Q2 stood at ₹52,145 crore, marking a 25.7% year-on-year increase, supported by strong growth across India mobility, home broadband, and Africa operations. Revenue from the India business rose…

Microsoft Corp. has entered into a $9.7 billion, five-year agreement with Australian infrastructure provider IREN Ltd. to acquire AI cloud capacity, marking a major expansion of the tech giant’s artificial intelligence infrastructure. The deal makes Microsoft IREN’s largest customer to date. Under the agreement, Microsoft will gain access to Nvidia accelerator systems based on the GB300 architecture at IREN’s facility in Texas, designed to support advanced AI workloads. The contract includes a 20% prepayment, according to a company statement released Monday. As part of the deal, IREN will purchase GPUs and related equipment worth $5.8 billion from Dell Technologies Inc.…

Tata Consumer Products Ltd (TCPL), the FMCG arm of the Tata Group, reported a 10.7% year-on-year rise in consolidated net profit to ₹406.51 crore for the quarter ended September 2025 (Q2 FY26), led by robust performance in its India business. The company had posted a net profit of ₹367.21 crore in the same quarter last year, according to its regulatory filing. Revenue from operations grew 17.8% year-on-year to ₹4,965.9 crore, compared to ₹4,214.45 crore in the corresponding quarter of FY25. TCPL’s branded business — which includes tea, coffee, packaged water, and other value-added products — surged 17% to ₹4,270.9 crore,…

The Securities and Exchange Board of India (SEBI) has granted approval to ecommerce platform Meesho and logistics & supply chain company Shiprocket for their draft IPO documents submitted via the confidential filing route, paving the way for their upcoming public listings. In addition to these two major startups, SEBI has also cleared the IPO proposals of German Green Steel and Power, Rajputana Stainless, Skyways Air Services, Manika Plastech, and Allied Engineering Works during the week ended October 31. According to SEBI’s latest updates, Meesho received observations on its confidential Draft Red Herring Prospectus (DRHP) on October 10, while Shiprocket obtained…

World Champions: History was made at the DY Patil Stadium as India Women lifted their first-ever ICC Women’s ODI World Cup, defeating South Africa by 52 runs in a thrilling final on Sunday. Fireworks lit up the Mumbai sky as captain Harmanpreet Kaur and her team celebrated an unforgettable triumph in front of a packed home crowd. Put into bat after a rain delay, India posted a strong 298/7 in 50 overs, powered by half-centuries from Shafali Verma (87 off 91) and Deepti Sharma (58 off 58). The opening partnership between Smriti Mandhana (45) and Verma laid the foundation with…

Zen Technologies Limited has announced that it has secured two major contracts worth ₹289 crore (including GST) from the Ministry of Defence (MoD), Government of India, for the upgradation of its indigenously developed Anti-Drone Systems (ADS). The projects are slated for completion within a year and mark a significant step forward in India’s defence modernization efforts, emphasizing the strategic necessity of Indian-designed, developed, and manufactured (IDDM) technologies. Responding to Operational Needs and Evolving Drone Threats Zen Technologies stated that the upgrades are based on operational feedback from recent missions, including Op Sindoor, which revealed the need for systems capable of…

Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) announced a major leadership change with the appointment of Shri Manoj Kumar Das, IAS as Chairman and Director of the company. The appointment was made by the Government of Gujarat’s Energy & Petrochemicals Department through an official order dated November 1, 2025. Shri Das succeeds Shri Pankaj Joshi, IAS (Retd.), as Chairman of GNFC, as per the powers vested under Article 134 of the Company’s Articles of Association. The formal communication regarding this appointment was received by GNFC on November 1, 2025. The company will now proceed with the statutory formalities to…

JK Paper Limited, one of India’s leading paper manufacturers, announced that it has successfully conducted meetings of its equity shareholders, secured creditors (including non-convertible debenture holders), and unsecured creditors as directed by the National Company Law Tribunal (NCLT), Ahmedabad Bench. The meetings were held via video conferencing on November 2, 2025, to consider and approve a Composite Scheme of Arrangement involving multiple group entities. Details of the Composite Scheme The proposed scheme includes the amalgamation of the following companies with JK Paper Limited (the Transferee Company): Additionally, the scheme covers: The meetings began and concluded as scheduled through secure virtual…

Ambuja Cements Limited, part of the Adani Group and one of India’s leading cement manufacturers, has received approval from the National Company Law Tribunal (NCLT), Ahmedabad Bench, to proceed with the next steps in the amalgamation of Penna Cement Industries Limited with Ambuja Cements. Tribunal Order and Shareholder Meeting Details The NCLT order, dated October 31, 2025, directs Ambuja Cements to convene a meeting of its equity shareholders via video conferencing on December 30, 2025, at 11:00 a.m. IST, to approve the proposed Scheme of Arrangement for amalgamation. The appointed date for the merger is August 16, 2024. The Tribunal…