Wednesday, August 26
Shares of Billionbrains Garage Ventures, the parent of online broker Groww, jumped as much as 13% on Friday to Rs 162.65 on the BSE after Jefferies initiated coverage on the stocks with a 'buy' rating, arguing that India’s largest retail brokerage by active clients is following a Robinhood-style playbook that could deliver a 35% compound annual growth in earnings over the next three years as new products scale and margins expand.The brokerage set a price target of Rs 180, implying 26% upside from the previous close and valuing the company at 33 times its estimated December 2027 earnings. That multiple represents a roughly 15% discount to US-based Robinhood, which Jefferies said Groww increasingly resembles in both strategy and execution.Groww's fast rise to market leadershipGroww has eme
Shares of BLS International jumped as much as 7.4% on Friday to Rs 340 on the BSE, extending gains for a second straight session, after a Delhi High Court order wiped out a two-year ban imposed by the Ministry of External Affairs, which had barred the company from participating in future tenders floated by the ministry and Indian missions abroad.In a post-market exchange filing on Thursday, the company said it had successfully challenged the debarment by filing a writ petition before the Delhi High Court.“The Company has received an order from the Hon’ble High Court of Delhi setting aside the debarment order passed by the MEA. Consequently, the debarment imposed on the Company pursuant to the said order stands quashed,” BLS International said.The ruling overturns an order issued earl
New Delhi: The Directorate of Enforcement (ED) has facilitated the restitution of ₹311.67 crore towards long-pending workmen dues of M/s Kingfisher Airlines Ltd (KAL). The restitution follows an order dated December 12, 2025, passed by the recovery officer of the Debts Recovery Tribunal (DRT)-I, Chennai, directing the release of funds realised from the sale of attached shares that had earlier been restituted to State Bank of India (SBI) by the ED under the Prevention of Money Laundering Act (PMLA). The amount will be transferred to the official liquidator for disbursement to former employees of Kingfisher Airlines. The ED had initiated its investigation by registering multiple Enforcement Case Information Reports (ECIRs) based on FIRs filed by the Central Bureau of Investigation (CBI) ag
The government’s SIM binding mandate has renewed regulatory uncertainty over rich messaging service (RCS) channels. This is especially so in the case of whether RCS should be treated as an over-the-top (OTT) or a telecom network service from a regulatory lens.Technically, RCS is not bound to the SIM and can be used without it, just like WhatsApp. However, it is also a GSMA-defined protocol adopted by all three private telecom operators in the country in partnership with Google.The Department of Telecommunications (DoT) recently mandated continuous SIM binding for messaging apps such as WhatsApp, Telegram, and Signal, requiring them to verify that the original registered SIM remains active in the device and enforcing automatic six-hour logouts for web/desktop sessions effective February.W
