Author: Legal Parivar

Vardhman Special Steel on Tuesday announced plans to invest Rs 475 crore to set up a new steel manufacturing facility in Ludhiana, Punjab, expanding its footprint into automotive components. The company’s regulatory filing states that the new facility will focus on steel forging and machining, leveraging technical expertise from Aichi Steel Corporation. The initiative aims to deliver higher quality consistency, improved supply reliability, and closer customer alignment, following Japanese quality standards across the manufacturing chain. The investment is intended to strengthen Vardhman’s position within the automotive supply chain, broaden its value-added product portfolio, and enhance participation across critical automotive components.…

Adani Ports and Special Economic Zone Limited (APSEZ) has completed the acquisition of a coal export terminal in Australia from a related group company, reinforcing its strategic presence in the Asia-Pacific region. In April, APSEZ announced a USD 2.4 billion non-cash acquisition of NQXT, approving the takeover of Abbot Point Port Holdings Pte Ltd (APPH), Singapore, from Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), a related party. As part of the deal, APSEZ issued 14.38 crore new equity shares to CRPSHPL in exchange for 100% ownership of APPH. A regulatory filing on Tuesday confirmed the preferential allotment of…

IRB Infrastructure Trust has emerged as the highest bidder for a functional highway stretch of the National Highways Authority of India (NHAI) in Odisha, placing a bid of Rs 3,087 crore. This marks the company’s second major win in acquiring road assets in the past five weeks. The latest acquisition covers the 74.5 km Chandikhole-Bhadrak section of NH-16, part of Toll Operate Transfer (ToT) Bundle 18. IRB had previously secured ToT Bundle 17 in November, which included three highway stretches in Uttar Pradesh—Lucknow to Ayodhya, Ayodhya to Gorakhpur, and Lucknow to Sultanpur—spanning a total of 333.5 km with a bid…

Foreign institutional investors (FIIs) resumed net selling in Indian equities on December 23, offloading shares worth ₹1,795 crore, according to provisional exchange data. In contrast, domestic institutional investors (DIIs) remained net buyers, purchasing equities worth ₹3,812 crore during the session. During the day, DIIs bought shares valued at ₹15,296 crore and sold ₹11,238 crore, while FIIs purchased equities worth ₹10,714 crore but sold shares totalling ₹11,171 crore. On a year-to-date basis, FIIs have been net sellers of ₹2.77 lakh crore, whereas DIIs have net invested ₹7.61 lakh crore in Indian equities. Market Performance Benchmark indices ended the session on a…

On December 23, SBI Mutual Fund and BlackRock purchased a combined 6.5% equity stake in Belrise Industries, the automotive components manufacturer, via open market transactions worth nearly Rs 897 crore. Belrise shares rose 6.2%, closing at Rs 168.23, after hitting an intraday record high of Rs 179.90. Since its listing on May 28, the stock has nearly doubled from its issue price of Rs 90. SBI Mutual Fund acquired 5.12 crore shares (5.8% of paid-up equity) for Rs 788.3 crore, while BlackRock’s Global Equity Income Portfolio picked up 70.5 lakh shares (0.79%) for Rs 108.37 crore at Rs 153.7 per…

Both gold and silver prices surged to historic highs on Tuesday, December 23, driven by escalating geopolitical tensions and expectations of further US Federal Reserve rate cuts next year, following signs of easing inflation and a cooling labor market. On the Multi Commodity Exchange (MCX), February gold futures opened at ₹1,38,297 per 10 grams, up from the previous close of ₹1,36,744, and climbed to a fresh record high of ₹1,38,496, marking a gain of ₹1,752 per 10 grams. Similarly, March silver futures rose ₹6,577 to ₹2,19,449 per kilogram, setting a new record. Internationally, spot silver traded above $70 an ounce…

The US economy expanded at a 4.3% annualized rate in the third quarter, marking the fastest pace in two years, according to a report released Tuesday by the Bureau of Economic Analysis (BEA). The growth was supported by resilient consumer spending, increased business investment, and a moderation in trade tensions. The figure exceeded nearly all Bloomberg survey forecasts and followed a 3.8% growth rate in the previous quarter. The BEA had originally scheduled the advance estimate for GDP on October 30, but the report was delayed due to the government shutdown. Typically, the agency releases three estimates per quarter, but…

The Reserve Bank of India (RBI) on Tuesday announced measures to inject liquidity into the banking system, including open market purchases of government securities worth ₹2 trillion and a USD/INR buy/sell swap auction of $10 billion. The OMO purchases and the swap auction will be conducted between December 29, 2025, and January 22, 2026, the central bank said. In a statement, the RBI noted that it will continue to closely monitor evolving liquidity and market conditions and take appropriate steps to ensure orderly liquidity in the financial system. The announcement follows similar measures taken earlier this month, when the RBI…

The Income Tax Department has advised taxpayers to recheck their deduction and exemption claims after its risk analytics systems flagged certain filings as potentially ineligible. The department also clarified why several taxpayers received intimation emails and outlined the steps required to avoid penalties ahead of the December 31, 2025 deadline for filing revised income-tax returns (ITRs). For the Assessment Year 2025–26, tax authorities have identified multiple red flags in returns. These include donations made to unrecognised political entities, which do not qualify for tax benefits, exemption claims that fail to meet statutory requirements, incorrect identification details of charitable recipients, and…

Naxatra Labs, a deeptech startup focused on electric motor technology, has raised $3 million in a Pre-Series A funding round led by Rainmatter, the investment arm backed by Zerodha co-founder Nithin Kamath. The funding comes amid rising demand for indigenously designed motor technologies driven by India’s push towards electric vehicles (EVs) and industrial electrification. The round also saw participation from several prominent founders and operators, including Mohit Tandon (Delhivery), Himanshu Aggarwal (Aspiring Minds), Vijay Shekhar Sharma (Paytm), Aloke Bajpai (Ixigo), Anupam Jalote (iCEM), and Narayan (Ather Energy), among others. With the fresh capital, Naxatra Labs plans to strengthen its research…