Author: Legal Parivar

Standard Chartered (StanChart) announced that it will achieve its key profitability target a year earlier than expected, after reporting a solid 3% rise in third-quarter earnings, driven by robust performance in its wealth management, global banking, and markets divisions. The London-based lender, which derives most of its income from emerging markets across Asia and Africa, reported a pretax profit of $1.77 billion for the quarter ended September — up from $1.72 billion a year earlier and above the $1.52 billion consensus estimate of 14 analysts compiled by the bank. StanChart now expects full-year income growth to be at the upper…

General Atlantic has invested $600 million in PhonePe, doubling its stake in the Walmart-owned fintech giant from 4.4% to 9%, according to people familiar with the matter. The latest funding round — primarily secondary in nature — is aimed at helping PhonePe employees meet tax obligations arising from the exercise of their Employee Stock Options (ESOPs), ahead of the company’s much-anticipated initial public offering (IPO). Sources confirmed that none of the founders or existing investors sold shares as part of this transaction. With this latest infusion, General Atlantic’s total investment in PhonePe now stands at $1.15 billion since 2023, underscoring…

Shares of Larsen & Toubro (L&T) surged among the top gainers in Thursday’s trade as investors reacted positively to the company’s robust outlook for FY26 and its plan to divest its stake in the Hyderabad Metro project. The L&T management has projected over 10% growth in order inflows, 15% revenue growth, and an EBITDA margin of 8.5% for FY26, signaling confidence in the company’s business momentum. A key trigger for the rally is L&T’s in-principle agreement with the Telangana government to divest its stake in Hyderabad Metro. The company aims to complete the transaction by Q4FY26. Under the arrangement, the…

Groww, India’s largest stockbroker by active client base, has rolled out captive algorithmic trading under its new Groww Cloud platform, according to people familiar with the development. The launch follows the Securities and Exchange Board of India (SEBI) directive issued in August, requiring all algorithmic trading to operate within brokers’ platforms. Earlier, most traders placed orders through third-party algo platforms connected via APIs, which were outside SEBI’s direct purview. The Bengaluru-based wealth-tech firm’s move targets the active trading community and comes shortly before its initial public offering (IPO), which could value the company between $7 billion and $8 billion. “Groww…

India has announced a 30% import duty on yellow peas, effective November 1, 2025, according to a government notification issued late Wednesday. As per the directive, shipments with a bill of lading dated on or before October 31, 2025, will be exempt from the new duty. Previously, the government had allowed duty-free imports of yellow peas until March 31, 2026, to stabilize supply. However, domestic farmers raised concerns that the surge in cheap imports was hurting local prices, prompting authorities to review the policy. India, the world’s largest importer of yellow peas, sources most of its supplies from Canada and…

Billionbrains Garage Ventures Ltd, the parent company of popular online investment platform Groww, has announced the price band for its upcoming initial public offering (IPO) in the range of ₹95 to ₹100 per equity share with a face value of ₹2 each. The Groww IPO will open for public subscription on Tuesday, November 4, and close on Friday, November 7. The anchor investor allocation is scheduled for Monday, November 3. The floor price and cap price are 47.5 times and 50 times the face value, respectively. The lot size for investors has been fixed at 150 equity shares and in…

The Orkla India IPO continued its public issue on Thursday, October 30, after witnessing a 79% subscription on its first day. The retail investor segment was subscribed 90%, while the Non-Institutional Investors (NII) portion saw 1.53 times bidding. The Qualified Institutional Buyers (QIB) segment recorded 2% subscription, and the employee quota was oversubscribed 3.27 times. The IPO, which opened on October 29 and will close on October 31, has a price band of ₹695–₹730 per share, targeting a valuation of around ₹10,000 crore at the upper limit. About Orkla India Orkla India, formerly known as MTR Foods, is a leading…

Meta Platforms Inc., the parent company of Facebook and Instagram, reported a 26% rise in third-quarter revenue, beating market estimates, driven by strong advertising and AI initiatives. However, the company’s costs surged 32%, prompting a sharp 8% drop in its shares after hours, as investors reacted to CEO Mark Zuckerberg’s plans for significantly higher capital spending on artificial intelligence infrastructure. Meta said it expects “notably larger” capital expenditures in 2026, mainly to fund new AI-focused data centers and support its long-term goal of achieving superintelligence—a level of AI capability surpassing human intelligence. The company spent nearly $70–$72 billion in capex…

The Q2FY26 earnings season continues in full swing, with 84 companies scheduled to announce their July–September quarter results today, Thursday, October 30, 2025. Over 300 companies are expected to declare their financial results during the week, giving investors deeper insights into corporate performance ahead of the festive quarter. Among the key names announcing results today are ITC, Swiggy, NTPC, Adani Power, Hyundai Motor, Canara Bank, and Dabur India. The updates from these companies will help provide a clearer view of sectoral trends, consumer sentiment, and profitability as India’s economy enters the busy festive season. Companies Reporting Q2 Results Today (October…

Alphabet Inc., the parent company of Google, reported stronger-than-expected quarterly results as booming demand for artificial intelligence (AI) and cloud services powered growth across its core businesses. Both its advertising and cloud segments surpassed revenue forecasts, prompting the company to raise its capital expenditure outlook for the year to between $91 billion and $93 billion. “We are investing to meet customer demand and capitalize on the growing opportunities across the company,” said CEO Sundar Pichai in the earnings release. Alphabet’s spending plans have expanded rapidly this year—from $75 billion announced in February to $85 billion in July, and now up…