Author: Legal Parivar

Zerodha’s trading platform experienced another technical disruption on June 21, causing significant inconvenience for traders. During this outage, stocks like India Cement, which were no longer under the F&O ban, erroneously appeared as banned, preventing traders from placing orders. The platform has since resumed normal operations after this brief period of disruption. This incident comes just 15 days after a previous glitch on June 3, when Zerodha encountered issues coinciding with the domestic benchmark indices reaching record highs following exit polls indicating a potential third term for PM Modi’s government in the Lok Sabha elections. Additionally, IIFL brokerage accounts also…

Bangladesh Prime Minister Sheikh Hasina is set to begin a two-day state visit to India starting this Friday, marking the first incoming bilateral state visit by a foreign leader since India’s recent government formation following the Lok Sabha elections. The visit aims to bolster the already robust ties between Bangladesh and India, enhancing collaboration across various sectors. Hasina was among the distinguished foreign leaders who attended Prime Minister Narendra Modi’s swearing-in ceremony on June 9 at Rashtrapati Bhavan. During her upcoming visit, Prime Minister Sheikh Hasina will engage in bilateral consultations with PM Modi. She is also scheduled to meet…

PIB Fact Check, formerly known as the Press Information Bureau (PIB), issued an alert via its X handle (formerly Twitter), warning about a fraudulent SMS circulating under the guise of India Post. The message falsely claims that a package awaits delivery at a warehouse and urges recipients to update their address details within 48 hours to prevent the package from being returned. The alert emphasized that this SMS is deceptive and cautioned against clicking on the embedded link (indisposegvs.top/IN), which could compromise personal data. The threat posed by this fake India Post SMS involves potential access by hackers to users’…

Tata Consultancy Services (TCS) saw its shares rise by more than 2 percent following its announcement of a partnership with Xerox aimed at transforming the latter’s IT technology using cloud and generative AI. According to a filing with the stock exchange, TCS has expanded its strategic collaboration with Xerox through an extensive transformation program. This initiative is designed to accelerate Xerox’s transition to a simplified, services-oriented, software-driven organization. Headquartered in the US, Xerox is a global provider of digital print technology and related solutions, serving clients across nearly 145 countries, including small and medium-sized businesses, graphic communications firms, governmental bodies,…

Zepto, an instant grocery delivery app based in Mumbai, has secured $665 million in funding at a valuation of $3.6 billion, underscoring robust investor confidence in India’s quick commerce sector. The latest round, primarily a fresh capital infusion, was co-led by existing investors Glade Brook, Nexus, and StepStone, with significant contributions from new backers including Avenir Growth, Lightspeed, Avra, and others. Notably, DST Global, a key investor in Swiggy, emerged as the largest new investor, injecting around $100 million into Zepto. This fundraising effort marks a notable achievement for Zepto, which has achieved rapid growth by surpassing $1 billion in…

DEE Development Engineers Ltd, a provider of specialized process piping solutions, has garnered significant investor interest in its initial public offering (IPO). As of June 21, the final day of bidding, the IPO has been heavily oversubscribed. The IPO, valued at ₹418.01 crore, comprises a combination of a fresh issue of 1.6 crore equity shares amounting to ₹325 crore and an offer for sale (OFS) component of 46 lakh shares totaling ₹93.01 crore. DEE Development set the price band for its IPO at ₹193 to ₹203 per share, with a lot size of 73 shares. The subscription status as of…

South Korea’s foreign minister Cho Tae-yul and U.S. Secretary of State Antony Blinken have jointly condemned the new treaty between Russia and North Korea, describing it as a significant threat to regional peace and stability, according to a statement from Seoul’s foreign ministry on Friday. During a phone call on Thursday, the two diplomats discussed potential responses to the pact and agreed to closely monitor the evolving situation, the ministry added. Secretary Blinken affirmed that the United States supports South Korea’s measures in light of the agreement, in which Moscow and Pyongyang pledged mutual military assistance in case of armed…

KEI Industries witnessed a more than 3% rise in its share price to Rs 4,565 on June 21 following the resolution of a labour strike at its two units. The strike had caused production losses amounting to approximately Rs 10 crores, as disclosed in a filing with the stock exchange. According to KEI Industries, operations at its Rakholi and Chinchpada units, which were affected by the strike, have now returned to normal. The company stated its intention to swiftly scale up production to compensate for the lost output.

On June 21, the Enforcement Directorate (ED) moved the Delhi High Court to contest the bail granted to Arvind Kejriwal in connection with a money laundering case related to a defunct excise policy. According to ANI, ED is expected to request an urgent hearing on the matter. Hindustan Times reported that the plea challenging Kejriwal’s bail is scheduled to be heard by a vacation bench presided over by Justice Sudhir Kumar Jain today at 10:30 am.

Sun Pharmaceutical Industries has announced a licensing agreement with Takeda Pharmaceutical Company to introduce a new gastrointestinal drug in India. Under this non-exclusive patent licensing pact, Sun Pharma will commercialize Vonoprazan tablets in 10 mg and 20 mg strengths across the country. Vonoprazan, a novel potassium competitive acid blocker (PCAB), is specifically designed to treat reflux esophagitis and other acid peptic disorders. Kirti Ganorkar, CEO – India Business at Sun Pharma, expressed enthusiasm about the partnership, emphasizing Sun Pharma’s leadership in gastroenterology. He highlighted that bringing Vonoprazan to India aligns with their commitment to enhancing gastrointestinal health by offering patients…