Author: Legal Parivar

Indian refiners have temporarily halted placing fresh orders for Russian crude oil following the latest round of Western sanctions, as they await further clarity from both the government and suppliers, Reuters reported on Tuesday, citing industry sources. The refiners, cautious about potential payment and compliance risks, are meeting their near-term crude requirements through spot market purchases, the sources said on condition of anonymity since they are not authorised to speak to the media. According to the report, state-run Indian Oil Corporation (IOC) has floated a tender to buy crude oil, while Reliance Industries Ltd (RIL)—India’s top private refiner—has increased procurement…

In a major internal development at Tata Trusts, trustee Mehli Mistry is set to step down from the boards of the Sir Dorabji Tata Trust (SDTT) and the Sir Ratan Tata Trust (SRTT) after key members declined to support his reappointment. According to a report by The Economic Times, at least three trustees — Noel Tata, Venu Srinivasan, and Vijay Singh — voted against Mistry’s reappointment, while Jehangir H.C. Jehangir and Darius Khambata backed his continuation. Under the Trusts’ governance rules, a trustee’s reappointment requires unanimous consent, meaning even one dissenting vote blocks renewal. Mistry’s three-year term officially ends on…

Fantasy sports giant Dream11 is gearing up to expand beyond gaming into financial services, with plans to launch a new vertical called Dream Money. The move marks a major shift for the company as it looks to establish a presence in stock broking and wealth management. According to a report by Mint, Dream11 has applied for regulatory approval to enter the stock broking segment and intends to position Dream Money as a discount brokerage platform, competing with leading players such as Zerodha, Angel One, and Groww. Pivot After Online Gaming Restrictions The company’s diversification comes in the wake of the…

Shares of Supreme Industries fell nearly 5% on October 28, a day after the company reported its financial results for the second quarter of FY26. The stock touched an intraday low of ₹3,815.50, before recovering slightly to trade over 4% lower at ₹3,828.50 around 12:24 p.m. Supreme Industries Q2 FY26 Results The plastic products manufacturer posted a consolidated net profit of ₹164.74 crore for the July–September quarter, marking a 20% decline year-on-year from ₹206.60 crore in the same period last year. Revenue from operations, however, rose 5% YoY to ₹2,394 crore, supported by stronger volumes and contributions from recent business…

Larsen & Toubro (L&T) announced that its Heavy Engineering division has secured multiple significant orders valued between ₹1,000 crore and ₹2,500 crore from both international and domestic clients. Global Orders in Oil, Gas, and Fertiliser Segments On the international front, L&T’s heavy engineering arm received several key contracts across major markets: Domestic and Nuclear Power Orders In the nuclear power segment, the company bagged new orders to supply critical components for ongoing and upcoming domestic and international nuclear projects. Domestically, L&T’s Heavy Engineering vertical also secured contracts for four units of its proprietary 2RK65 Heat Exchanger Package for a 3…

Shares of Mazagon Dock Shipbuilders Ltd rose more than 2% on Tuesday after the defence PSU reported a strong September quarter (Q2FY26) performance. The stock gained as much as 2.58% to ₹2,882.85 apiece on the BSE before paring some of its early gains. The state-run shipbuilder posted a consolidated net profit of ₹749.48 crore, up 28.1% year-on-year (YoY) from ₹585.08 crore in the same period last year. Revenue from operations increased 6.3% YoY to ₹2,929.24 crore from ₹2,756.83 crore in Q2FY25. At the operational level, EBITDA rose 36.1% to ₹695 crore from ₹510.2 crore, while the EBITDA margin expanded to…

Indian equity benchmarks opened lower on Tuesday, with investors booking profits after the strong gains seen in the previous session. The decline came despite improved sentiment over easing US–China trade tensions and stable domestic earnings. The 30-share BSE Sensex fell about 200 points in early trade, while the NSE Nifty slipped below the 25,900 mark. Key reasons for the market decline Market participants attributed the weakness to foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth ₹55.58 crore on Monday, putting pressure on domestic markets as overseas selling typically weighs on sentiment and liquidity. Profit-booking was evident across key…

After a steep fall in the previous session, gold prices rebounded above the $4,000-per-ounce mark in the international bullion market on Tuesday, October 28. However, in India, the yellow metal continued to weaken. According to data from Goodreturns, 24K gold fell by around ₹820 per 10 grams, while domestic prices stood as follows: PurityPrice (per 10 gm)24K₹1,22,46022K₹1,12,25018K₹91,840 Globally, gold climbed 0.9%, recovering part of Monday’s 3.2% drop, as reported by Bloomberg. The uptick followed announcements of new trade agreements between Washington and Beijing, covering tariffs and export controls. Meanwhile, US Treasury yields inched higher, with traders still expecting the Federal…

Commodity exchange MCX (Multi Commodity Exchange of India) on October 28 announced a delay in the start of trading due to a technical issue, with operations now scheduled to begin at 10:30 AM. The exchange confirmed that trading will commence from its Disaster Recovery (DR) platform. In an update on its website, MCX stated, “Members are requested to note that trading will start at 10:30 AM due to a technical issue. Trading will start from DR. Inconvenience is regretted.” However, shortly after, brokerage firm Zerodha reported that the MCX opening has been further delayed, and a revised time has not…

Shares of Canara Robeco Asset Management Company fell 10% to ₹315.90 apiece on Tuesday after the firm posted a disappointing September quarter (Q2 FY25) performance on Monday. Despite recent gains — over 6% in the past month and nearly 5% in six months — the stock came under pressure as earnings failed to meet expectations. Q2 Financial Highlights New Fund Plans and AUM Update The company announced plans to launch two new mutual fund schemes — the Canara Robeco Innovation Fund and the Canara Robeco Banking & Financial Services Fund — subject to SEBI and regulatory approvals and favourable market…