Author: Legal Parivar

Punjab National Bank (PNB) has identified more than 100 non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) in FY26, with an outstanding book value of ₹4,000–5,000 crore, Managing Director and CEO Ashok Chandra told PTI. Chandra said the bank expects an average recovery of 40–50% from these accounts, with some cases potentially yielding full recovery due to strong collateral. “We are anticipating good recoveries this year, and in some accounts, we may even achieve 100%,” he said. Aggressive Growth PlansThe country’s second-largest public sector bank is aiming to cross the ₹30 lakh crore total business milestone by March…

The domestic stainless steel industry has urged the government to impose anti-dumping duties on low-cost imports that are threatening local manufacturers. According to Jindal Stainless Managing Director Abhyuday Jindal, the Indian Stainless Steel Development Association (ISSDA) has filed a petition with the Directorate General of Trade Remedies (DGTR) seeking an investigation into the dumping of stainless steel products from certain countries. The DGTR, operating under the Ministry of Commerce, is India’s top authority for trade remedial measures, including anti-dumping, countervailing duties, and safeguard actions. Petition Filed, Industry Awaits DGTR Investigation Jindal revealed that the application was submitted at the end…

India has emerged as the largest supplier of smartphones to the United States, marking a major milestone in the country’s electronics manufacturing journey, Union Minister Ashwini Vaishnaw said on Sunday. Speaking at the inauguration of Metro projects in Bengaluru, he highlighted that India’s electronics production has grown sixfold in the last 11 years, reaching ₹12 lakh crore in value. According to the Minister, electronics exports have surged eight times during this period, touching ₹3 lakh crore. “India has become the second-largest manufacturer of mobile phones in the world,” Vaishnaw said, underlining the nation’s rising role in the global technology supply…

Indian equity markets ended the week lower for the third consecutive time, with broader indices underperforming the benchmark indices. The decline came amid volatility, better-than-expected auto sales numbers, mixed corporate earnings, and persistent selling by Foreign Institutional Investors (FIIs) following the US decision to impose additional tariffs on Indian goods. For the week, both the BSE Large-cap and Mid-cap indices slipped 1%, while the BSE Small-cap index declined nearly 2%. The BSE Sensex shed 742.12 points, or 0.92%, to close at 79,857.79, and the Nifty50 fell 202.05 points, or 0.82%, to settle at 24,363.30. FIIs extended their selling streak for…

India is considering imposing retaliatory tariffs on select American products after Washington levied steep 50% duties on steel, aluminium, and related exports from India, according to sources quoted by Hindustan Times. If implemented, this would mark New Delhi’s first official countermeasure since US President Donald Trump announced a 25% tariff on all Indian goods on July 31, followed by additional penalties on August 6 over India’s Russian oil imports. From Negotiations to Possible Trade War The dispute began in February when the Trump administration imposed a 25% tariff on steel and aluminium. In June, the duty was doubled to 50%,…

Shreeji Shipping Global Ltd, a provider of shipping and logistics solutions for dry bulk cargo, has submitted draft papers to the Securities and Exchange Board of India (SEBI) seeking approval for an initial public offering (IPO). The offering will consist entirely of a fresh issue of 2 crore equity shares, as stated in the draft red herring prospectus (DRHP). The company plans to allocate ₹289.4 crore from the IPO proceeds to acquire dry bulk carriers in the supramax category from the secondary market. Additionally, ₹19.5 crore will be used to repay debt. As of September 2025, the company reported total…

The bearish trend continued on Dalal Street, with benchmark indices declining for the third consecutive week ending January 24. Persistent foreign investor selling, coupled with uncertainty surrounding global economic policies, maintained pressure on the markets. Falling oil prices and earnings in line with expectations failed to provide significant support. The upcoming week (January 27–February 1) is expected to be eventful, featuring major developments such as the Union Budget 2025, the Federal Reserve’s policy meeting, US GDP data for Q4 2024, and the European Central Bank’s meeting. These events are likely to drive market movements as participants anticipate volatility amid consolidation.…

Foreign Portfolio Investors (FPIs) continue to exit the Indian equity markets, pulling out ₹64,156 crore (USD 7.44 billion) this month, driven by the rupee’s depreciation, rising US bond yields, and expectations of a weak earnings season. This reversal follows net investments of ₹15,446 crore in December, according to data from depositories, highlighting a significant shift in sentiment amid global and domestic challenges. Key Drivers of Outflows Sectoral Impact and Trends Long-Term Perspective The cautious stance by foreign investors reflects broader macroeconomic concerns. While 2024 has seen modest net inflows of ₹427 crore, this is a stark contrast to the ₹1.71…

Despite bearish trends and volatility in the secondary market, the primary market remains active, with two new initial public offerings (IPOs) set to open for subscription in the coming week, starting January 27. These include one mainboard IPO and one from the SME segment. Dr Agarwal’s Health Care IPO The highly anticipated IPO of Dr Agarwal’s Health Care, the parent company of the listed entity Dr Agarwals Eye Hospital, will open on January 29. The price band is set at ₹382-402 per share. This mainboard IPO includes a fresh issuance of equity shares worth ₹300 crore and an offer-for-sale of…

Over 300 stocks, including JSW Steel, NTPC, Sun Pharma, BPCL, Cipla, Hindalco, and Vedanta, reached their one-year highs during intraday trading on the BSE on Monday, September 30, despite major declines in Indian stock market benchmarks. Both the Sensex and Nifty 50 suffered losses of over 1% due to weak global cues. Other stocks hitting 52-week highs included Apollo Hospitals, Britannia Industries, Colgate-Palmolive, Pidilite Industries, ICICI Prudential Life Insurance, AstraZeneca Pharma, National Aluminium, and Welspun Corp. Meanwhile, the Sensex plummeted by 1,272 points, or 1.49%, closing at 84,299.78, while Nifty dropped 368 points, or 1.41%, ending at 25,810.85. Investors saw…