Top news today, Dec 16: Maharashtra, UP winter sessions; Vishal Mega Mart IPO; farmers' tractor march, more

Top news today, December 16: A host of developments, updates, and events are expected in India and internationally on December 16 in the markets, political, financial, technology, and general spheres. We take a look.

Today (December 16), the Maharashtra, Uttar Pradesh, Madhya Pradesh and Chhattisgarh state assemblies will begin their winter sessions today, farmers will engage in a tractor march in the national capital for their demands, India and Bangladesh commemorate the 1971 Indo-Pak war Vijay Diwas, Vishal Mega Mart IPO allocation, Vedanta ex-dividend likely, and more developments are expected today.

IPO in Focus: Vishal Mega Mart IPO

The Vishal Mega Mart IPO will announce its share allotment today on December 16. The stock hit the primary market on December 11.

Bidding for the public issue will began from 10 am on December 11 till 5 pm on December 13. A bidder could apply in lots, and one lot of the Vishal Mega Mart IPO comprised 190 company shares.

The hypermarket company has fixed the Vishal Mega Mart IPO price band at ₹74 to ₹78 per equity share. The company planned to raise ₹8,000 crore, an entire offer for sale (OFS).

Farmers Plan Tractor March in Delhi, Haryana

After their foot march was suspended in Delhi on December 14, protesting farmers said their next course of action would be a tractor march in states except Punjab on December 16, PTI reported. Further, according to farmer leader Sarwan Singh Pandher, a ‘rail roko’ protest will be held on December 18 from 12 noon to 3 pm in Punjab.

On December 14, the foot march was suspended after 17 farmers were injured due to teargas shelling and use of water cannons by Haryana security personnel. That was the third time in less than 10 days that security forces blocked farmers from crossing the Punjab-Haryana border.

“How are 101 farmers a danger to the law and order and peace of the country? You are debating the Constitution (in Parliament). Which Constitution allows the use of force against farmers,” he asked, adding, “No discussion is taking place on the issue of farmers in Parliament”.

Vedanta to consider fourth interim dividend issue today

Mining major Vedanta is set to hold a meeting for the board of directors today on December 16. An exchange filing earlier this week indicated that the company will deliberate the release of its fourth interim dividend for the financial year 2024-25.

The company also declared that if the board of directors approve the fourth interim dividend issue, then the issue date will be on Tuesday, December 24.

“Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Tuesday, December 24, 2024,” said Vedanta in the exchange filing.

India, Bangladesh to commemorate 1971 war ‘Vijay Diwas’

India and Bangladesh will commemorate the 53rd Vijay Diwas anniversary of the 1971 India-Pakistan war today, with the annual exchange of war veterans and serving officers, according to an ANI report.

Eight Indian war veterans and two serving officers of the Indian Armed Forces have arrived in Dhaka to commemorate Bangladesh's Victory Day celebrations. Similarly, eight distinguished Muktijoddhas (freedom fighters) and two serving officers of the Bangladesh Armed Forces also reached India to participate in the Vijay Diwas celebrations in Kolkata today, as per the Indian Army on December 15.

Vijay Diwas for the 1971 Liberation War is celebrated nationwide on December 16, to commemorate India's victory against Pakistan in the 13-day war, which ended with Pakistan signing the instrument of surrender in Dhaka and the subsequent liberation of Bangladesh (erstwhile East Pakistan).

State Assembly Winter Session: Maharashtra, Uttar Pradesh, Madhya Pradesh & Chhattisgarh

• Maharashtra Assembly Winter Session: The week-long winter session of the state legislature is slated to begin in Nagpur, Maharashtra's second capital, from December 16, according to PTI.

Notably, a total of 39 legislators from Mahayuti allies were sworn in on December 15, in the first cabinet expansion of the 10-day-old CM Devendra Fadnavis-led ministry including 16 new faces, while 10 former ministers were excluded. Portfolios will be allocated in the next two to three days, the Chief Minister said.

• MP assembly’s Winter Session: The Winter Session of the Madhya Pradesh assembly will begin today, with the opposition Congress announcing that it would hold protests to highlight farmers’ plight and crimes against women in the state. State Congress chief Jitu Patwari said they will also “gherao” the state assembly in Bhopal at 11 am on Monday, according to a PTI report.

The five-day session is scheduled till December 20, said State Assembly Principal Secretary AP Singh on Sunday.

• Winter Session of Chhattisgarh assembly: The Winter Session of the Chhattisgarh assembly will be held between December 16 and 20 and will have four sittings, an official told PTI.

The BJP has 54 MLAs in the 90-member House, followed by the Congress with 35, while one seat was won by Gondwana Gantantra Party. BJP MLAs had met on Friday to discuss the floor strategy for the session, while Congress legislators met on Saturday for the same.

• Winter Session of Uttar Pradesh Assembly: The Winter Session of the Uttar Pradesh Assembly is all set to commence today, Deputy Chief Minister Brajesh Pathak said, according to an ANI report on December 15.

"The winter session of the Uttar Pradesh Assembly will begin tomorrow and the state government is committed to the development of the state. There will be proper discussions on various areas and the state will move forward on the path of development," he said.

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(With inputs from Agencies)