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News Desk

Paytm Gets NPCI Nod to Onboard New UPI Users After RBI Curbs Lifted

Paytm Gets NPCI Nod to Onboard New UPI Users After RBI Curbs Lifted

/ Indian Market

Paytm’s parent company, One97 Communications Ltd, announced on October 22 that the National Payments Corporation of India (NPCI) has approved its request to onboard new UPI users. The approval comes with the condition that Paytm complies with NPCI’s risk management guidelines, app branding norms, multi-bank requirements, and data privacy policies. That was after Paytm faced […]

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Gujarat Fluorochemicals' EV Subsidiary Raises Rs 1,000 Crore for Expansion

Gujarat Fluorochemicals’ EV Subsidiary Raises Rs 1,000 Crore for Expansion

/ Indian Market

GFCL EV, a subsidiary of Gujarat Fluorochemicals (GFL), secured Rs 1,000 crore in funding at an equity valuation of around Rs 25,000 crore, the company announced on October 23. The funding was led by promoters INOXGFL Group, along with notable investors, including family offices from major business groups. The raised capital will support capacity expansion

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Mazagon Dock Approves 1:2 Stock Split and Announces Rs 23.19 Interim Dividend

Mazagon Dock Approves 1:2 Stock Split and Announces Rs 23.19 Interim Dividend

/ Indian Market

Mazagon Dock Shipbuilders’ board has approved a stock split in the ratio of 1:2, meaning each existing share will be split into two, effectively doubling the total number of shares. Along with this, the company declared an interim dividend of Rs 23.19 per equity share of Rs 10 each, fully paid-up, for the financial year

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Tata Motors Bags Order for 1,000 Diesel Bus Chassis from UPSRTC

Tata Motors Bags Order for 1,000 Diesel Bus Chassis from UPSRTC

/ Indian Market

Tata Motors has secured an order to supply 1,000 Tata LPO 1618 diesel bus chassis to the Uttar Pradesh State Road Transport Corporation (UPSRTC), following a competitive e-bidding process. The delivery will occur in phases as per a mutually agreed schedule. This order follows an earlier contract to supply 1,350 chassis, which are currently operational

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Varun Beverages Q3 Net Profit Surges 22% to Rs 629 Crore; Revenue Grows 25%

Varun Beverages Q3 Net Profit Surges 22% to Rs 629 Crore; Revenue Grows 25%

/ Indian Market

Varun Beverages reported a 22.4% increase in consolidated net profit for the September 2024 quarter, reaching Rs 628.82 crore, compared to Rs 514.06 crore in the same period last year. This marks the company’s third-quarter results for the 2024 calendar year. Operational revenues grew 25.2% at Rs 4,932.1 crore from Rs 3,937.8 crore in the

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Paytm Posts Rs 930 Crore Q2 Profit, Boosted by Ticketing Business Sale to Zomato

Paytm Posts Rs 930 Crore Q2 Profit, Boosted by Ticketing Business Sale to Zomato

/ Indian Market

On Tuesday, a parent company of the fintech giant Paytm, One97 Communications Ltd, reported a net profit of Rs 930 crore for the quarter to September 30, 2024, on the back of a one-time gain of Rs 1,345 crore regarding the sale of its entertainment ticketing business to Zomato. For the same period last year,

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Hyundai Motor India Shares Debut at Rs 1,934 on NSE, 1.32% Below IPO Price

Hyundai Motor India Shares Debut at Rs 1,934 on NSE, 1.32% Below IPO Price

/ IPO News

Hyundai Motor India shares began trading on October 22 at Rs 1,934, a 1.32% discount to the IPO price of Rs 1,960. The Indian subsidiary of the South Korean automaker saw tepid retail response to the IPO, but strong interest from Qualified Institutional Buyers (QIBs) led to an oversubscription of nearly 700%. The grey market

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Ambuja Cements to Acquire 37.9% Stake in Orient Cement for Rs 8,100 Crore

Ambuja Cements to Acquire 37.9% Stake in Orient Cement for Rs 8,100 Crore

/ Indian Market

Ambuja Cements Ltd has announced its decision to acquire a 37.9% stake in Orient Cement from the company’s promoters, at a price of Rs 395.4 per share. The deal is valued at an enterprise value of Rs 8,100 crore and will be funded through cash. This acquisition aligns with Ambuja Cements’ strategy to expand its

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