Author: Legal Parivar

State-owned Steel Authority of India Limited (SAIL) on Wednesday reported a 53% year-on-year decline in consolidated net profit to ₹418.72 crore for the quarter ended September 2025. The company had posted a profit of ₹897.15 crore during the same period last year, according to a regulatory filing. Despite the fall in profit, total income rose to ₹26,910.04 crore in Q2 FY26, up from ₹24,842.18 crore a year earlier, driven by steady production and higher sales volumes. In a statement, SAIL Chairman Amarendu Prakash said the company’s performance in the first half of FY26 reflected its operational consistency and financial stability,…

Billionbrains Garage Ventures Limited, the parent company of Groww, has reportedly set the price band for its upcoming initial public offering (IPO) between ₹95 and ₹100 per share, according to sources familiar with the matter. The fintech firm aims to raise about ₹7,000 crore through the public issue, valuing it at approximately ₹68,000 crore (around USD 8 billion) — surpassing Angel One, its closest listed peer in India’s brokerage sector. Despite the strong demand in the grey market, where Groww’s shares were trading around ₹128 on October 29, the IPO pricing appears to be set at a discount. Bankers associated…

The U.S. Federal Reserve on October 29 cut its benchmark lending rate by 25 basis points, bringing the federal funds rate to a range of 3.75%–4%, in line with market expectations. This marks the second consecutive rate cut and the first since December 2024, as policymakers continue efforts to balance inflation control with signs of a slowing economy. Markets Expect Another Rate Cut in December According to futures pricing, markets anticipate another 25-basis-point reduction in the Fed’s next policy meeting, which would bring the key rate down to the 3.5%–3.75% range. The CME FedWatch Tool showed that 98% of traders…

New Delhi: State-owned NTPC Green Energy Ltd (NGEL) on Wednesday reported a strong 135% year-on-year jump in consolidated net profit to ₹86.38 crore for the September 2025 quarter, driven by higher revenues and improved operational performance. The company, a subsidiary of NTPC Ltd, had posted a net profit of ₹36.69 crore in the same quarter last year, according to a regulatory filing.Its total income rose to ₹656.72 crore, up from ₹525.32 crore in the year-ago period. NTPC Green Expands Renewable Footprint in Gujarat NTPC also announced that its subsidiary will commence commercial operations of a 9.9 MW wind project in…

The Delhi government’s cloud seeding pilot project conducted at locations including Mayur Vihar and Burari has shown promising results, with PM10 levels dropping by up to 41.9% and a notable improvement in the Air Quality Index (AQI), according to an official statement released on Wednesday. Authorities emphasized that while the results are encouraging, cloud seeding is only one part of a broader clean air strategy that integrates multiple measures such as strict pollution enforcement, mechanical road sweeping, vehicle emission checks, and improved waste management. “Science-driven policy lies at the heart of Delhi’s clean air mission,” said Environment Minister Manjinder Singh…

President Vladimir Putin announced on Wednesday that Russia has successfully tested its Poseidon nuclear-powered super torpedo, a weapon military analysts warn could devastate coastal regions by triggering massive radioactive ocean waves. The announcement comes shortly after U.S. President Donald Trump intensified his rhetoric toward Moscow. In recent weeks, Russia conducted a Burevestnik nuclear cruise missile test on October 21 and nuclear launch drills on October 22, underscoring Moscow’s efforts to display its military might. Poseidon: A Nuclear-Powered “Doomsday” Weapon Few technical details about the Poseidon have been officially disclosed, but it is described as a nuclear-capable underwater drone-torpedo hybrid, designed…

LIC Housing Finance Ltd on Wednesday reported a 2% year-on-year rise in standalone net profit for the September 2025 quarter, reaching ₹1,354 crore, compared with ₹1,329 crore in the same period last year. According to the company’s regulatory filing, total income rose to ₹7,170 crore in Q2FY26 from ₹6,932 crore a year earlier. The firm’s interest income also improved to ₹7,034 crore, up from ₹6,853 crore in the corresponding quarter of FY25. Expenses and Asset Quality Total expenses during the quarter increased to ₹5,465 crore, compared to ₹5,267 crore in the same period last fiscal. The housing finance company, promoted…

Industry body PHD Chamber of Commerce and Industry (PHDCCI) has urged the government to significantly reduce personal income tax rates for individuals earning up to ₹50 lakh annually, while reserving the highest 30% tax rate for those earning above that threshold. Currently, under the new income tax regime, individuals with annual incomes exceeding ₹24 lakh are subject to the top tax rate of 30%. In its pre-Budget recommendations submitted to Revenue Secretary Arvind Shrivastava, PHDCCI proposed a series of reforms in both direct and indirect taxation ahead of the Union Budget 2026, which Finance Minister Nirmala Sitharaman is set to…

Microsoft’s cloud platform Azure and its suite of productivity tools, Microsoft 365, faced widespread service disruptions on Wednesday, impacting thousands of users across the globe, according to outage tracker Downdetector. As per the platform, around 16,600 users reported problems with Azure, while nearly 9,000 users experienced outages with Microsoft 365. 🔹 Azure and 365 Services Disrupted Azure, Microsoft’s flagship cloud platform, powers numerous enterprise and consumer applications worldwide. Any downtime therefore affects not only Microsoft’s own services but also its vast network of clients. The company confirmed the issue on its Azure status page, noting that teams were investigating problems…

Digital trade finance and B2B e-commerce platform Drip Capital has secured a $50 million committed credit facility from Toronto-Dominion (TD) Bank, with an additional $25 million accordion feature available. This marks Drip’s first partnership with TD Bank and pushes its total debt funding beyond $500 million. The company’s existing debt partners include Barclays, the World Bank’s International Finance Corporation (IFC), and East West Bank. According to Drip Capital, the fresh credit line will support its ‘Buyer Finance’ programme across North America and further strengthen its global position in cross-border SMB financing. “This partnership with TD Bank reinforces global confidence in…