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IndiaTV Business: Google News Feed: Digest for February 08, 2024

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Business news: Paytm on Monday (February 5) issued a statement denying reports of an Enforcement Directorate investigation or violation of Foreign Exchange rules by the company or its associate Paytm Payments Bank Limited. This comes after Reuters, quoting two senior officials, claimed that the ED was probing the company, however, there was no formal communication thus far. Paytm's parent company, One97 Communications Limited (OCL), claimed that the reports are "entirely misleading, baseless and malicious".
UPI service on Paytm will continue to work as normal as the company is working with other banks to make changes in the back-end for continuity of its services, the company said on Monday.
The Reserve Bank of India (RBI) has granted approval to HDFC Bank to acquire an "aggregate holding" of up to 9.50 percent of the paid-up share capital or voting rights" in IndusInd Bank, according to the company's exchange filing.
Samsung emerged as the leader in the Indian smartphone market in 2023, capturing a 18 per cent share, according to a report by CyberMedia Research (CMR).
In early trading on Tuesday, equity benchmark indices showed gains, primarily led by buying in IT majors such as Tata Consultancy Services and Infosys, coupled with fresh foreign fund inflows.
Shares of One97 Communications Ltd, the parent company of the Paytm brand, rebounded on Tuesday morning after experiencing three consecutive days of sharp declines. Despite a weak start to the trading session, the stock surged by 7.79 percent to Rs 472.50 on the BSE and by 7.99 percent to Rs 473.55 on the NSE.
Shares of Bharti Airtel rose by 4 per cent following the company's announcement of a 54 per cent surge in consolidated net profit to Rs 2,442.2 crore during the December quarter.
The government is likely to ink a multi-billion-dollar agreement on Tuesday to extend LNG imports from Qatar until 2048, with rates anticipated to be lower than current prices, according to sources.
Prime Minister Narendra Modi announced on Tuesday that India is poised to witness a staggering investment of USD 67 billion in the energy sector over the next 5 to 6 years. Speaking at the inauguration of the second edition of the India Energy Week in Goa, Modi extended an invitation to global investors to partake in India's growth narrative.
Rashi Peripherals, Jana Small Finance Bank, and Capital Small Finance Bank are set to launch their maiden public issues, collectively aiming to raise around Rs 1,700 crore. Additionally, Entero Healthcare Solutions will kick off its initial share sale on February 9, aiming to raise Rs 1,600 crore. Meanwhile, the IPO of, valued at Rs 920 crore, is currently under subscription.
In early trading on Tuesday, equity benchmark indices showed gains, primarily led by buying in IT majors such as Tata Consultancy Services and Infosys, coupled with fresh foreign fund inflows.
Shares of One97 Communications Ltd, the parent company of the Paytm brand, rebounded on Tuesday morning after experiencing three consecutive days of sharp declines. Despite a weak start to the trading session, the stock surged by 7.79 percent to Rs 472.50 on the BSE and by 7.99 percent to Rs 473.55 on the NSE.
Shares of Bharti Airtel rose by 4 per cent following the company's announcement of a 54 per cent surge in consolidated net profit to Rs 2,442.2 crore during the December quarter.
The government is likely to ink a multi-billion-dollar agreement on Tuesday to extend LNG imports from Qatar until 2048, with rates anticipated to be lower than current prices, according to sources.
Prime Minister Narendra Modi announced on Tuesday that India is poised to witness a staggering investment of USD 67 billion in the energy sector over the next 5 to 6 years. Speaking at the inauguration of the second edition of the India Energy Week in Goa, Modi extended an invitation to global investors to partake in India's growth narrative.
Rashi Peripherals, Jana Small Finance Bank, and Capital Small Finance Bank are set to launch their maiden public issues, collectively aiming to raise around Rs 1,700 crore. Additionally, Entero Healthcare Solutions will kick off its initial share sale on February 9, aiming to raise Rs 1,600 crore. Meanwhile, the IPO of, valued at Rs 920 crore, is currently under subscription.
Britannia Industries Ltd, a bakery food company, reported a 40.4 per cent decline in consolidated net profit to Rs 555.66 crore for the third quarter ended December 2023.
Paytm CEO Vijay Shekhar Sharma held discussions with Finance Minister Nirmala Sitharaman, according to sources quoted by ANI.
The Tata Group, consisting of 18 companies, has surpassed a market capitalization of Rs 30 lakh crore, driven by a significant rally in TCS and Tata Motors.
The BSE Sensex opened Wednesday's trading session 317.43 points higher, or 0.44 per cent, at 72,503.52, while the Nifty rose 113.30 points, or 0.50 per cent, at 22,042.70. Robust foreign fund inflows further bolstered the positive momentum in equities.
Prime Minister Narendra Modi announced on Tuesday that India is poised to witness a staggering investment of USD 67 billion in the energy sector over the next 5 to 6 years. Speaking at the inauguration of the second edition of the India Energy Week in Goa, Modi extended an invitation to global investors to partake in India's growth narrative.
Rashi Peripherals, Jana Small Finance Bank, and Capital Small Finance Bank are set to launch their maiden public issues, collectively aiming to raise around Rs 1,700 crore. Additionally, Entero Healthcare Solutions will kick off its initial share sale on February 9, aiming to raise Rs 1,600 crore. Meanwhile, the IPO of, valued at Rs 920 crore, is currently under subscription.
Britannia Industries Ltd, a bakery food company, reported a 40.4 per cent decline in consolidated net profit to Rs 555.66 crore for the third quarter ended December 2023.
Paytm CEO Vijay Shekhar Sharma held discussions with Finance Minister Nirmala Sitharaman, according to sources quoted by ANI.
The Tata Group, consisting of 18 companies, has surpassed a market capitalization of Rs 30 lakh crore, driven by a significant rally in TCS and Tata Motors.
The BSE Sensex opened Wednesday's trading session 317.43 points higher, or 0.44 per cent, at 72,503.52, while the Nifty rose 113.30 points, or 0.50 per cent, at 22,042.70. Robust foreign fund inflows further bolstered the positive momentum in equities.
Shares of One97 Communications, the parent company of Paytm, rose 10 per cent to an intraday high of Rs 496.25, bringing relief to investors following a meeting between Paytm founder Vijay Shekhar Sharma and top officials from the Reserve Bank of India and the finance minister, Nirmala Sitharaman.
The Initial Public Offering (IPO) of Jana Small Finance Bank is set to open today, with the bank aiming to utilise the funds from the fresh issue to enhance its core capital and meet future capital requirements. Ahead of the IPO, the bank has already allocated 40,32,588 equity shares to 17 anchor investors, raising Rs 166.95 crore on Tuesday.
Shares of EIH Ltd surged to an all-time high, hitting the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in early trade on Wednesday, marking the fourth consecutive session of gains. The stock of the flagship company of the Oberoi Group witnessed this uptrend following its strong performance in the third quarter of the fiscal year 2023-24.

Oil firms losing Rs 3 per litre on diesel, profits on petrol shrink

Wednesday 07 February 2024 07:25 AM UTC+00
State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), have refrained from adjusting petrol, diesel, and cooking gas (LPG) prices for almost two years, resulting in substantial losses when input costs were higher and profits when raw material prices were lower. Despite calls to revert to daily price revisions, they have held steady, citing extreme price volatility and the incomplete recouping of past losses.
Britannia Industries Ltd, a bakery food company, reported a 40.4 per cent decline in consolidated net profit to Rs 555.66 crore for the third quarter ended December 2023.
Paytm CEO Vijay Shekhar Sharma held discussions with Finance Minister Nirmala Sitharaman, according to sources quoted by ANI.
The Tata Group, consisting of 18 companies, has surpassed a market capitalization of Rs 30 lakh crore, driven by a significant rally in TCS and Tata Motors.
The BSE Sensex opened Wednesday's trading session 317.43 points higher, or 0.44 per cent, at 72,503.52, while the Nifty rose 113.30 points, or 0.50 per cent, at 22,042.70. Robust foreign fund inflows further bolstered the positive momentum in equities.
Shares of One97 Communications, the parent company of Paytm, rose 10 per cent to an intraday high of Rs 496.25, bringing relief to investors following a meeting between Paytm founder Vijay Shekhar Sharma and top officials from the Reserve Bank of India and the finance minister, Nirmala Sitharaman.
The Initial Public Offering (IPO) of Jana Small Finance Bank is set to open today, with the bank aiming to utilise the funds from the fresh issue to enhance its core capital and meet future capital requirements. Ahead of the IPO, the bank has already allocated 40,32,588 equity shares to 17 anchor investors, raising Rs 166.95 crore on Tuesday.
Shares of EIH Ltd surged to an all-time high, hitting the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in early trade on Wednesday, marking the fourth consecutive session of gains. The stock of the flagship company of the Oberoi Group witnessed this uptrend following its strong performance in the third quarter of the fiscal year 2023-24.

Oil firms losing Rs 3 per litre on diesel, profits on petrol shrink

Wednesday 07 February 2024 07:25 AM UTC+00
State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), have refrained from adjusting petrol, diesel, and cooking gas (LPG) prices for almost two years, resulting in substantial losses when input costs were higher and profits when raw material prices were lower. Despite calls to revert to daily price revisions, they have held steady, citing extreme price volatility and the incomplete recouping of past losses.
The government said that some level of trade with Pakistan persists through air and sea routes, although Pakistan has unilaterally ceased all business through land borders.
Nestle India Ltd, a leading FMCG company, recorded a 4.38 per cent increase in net profit, reaching Rs 655.61 crore for the quarter ended December 31 compared to Rs 628.06 crore in the same period last year, according to a regulatory filing.
Britannia Industries Ltd, a bakery food company, reported a 40.4 per cent decline in consolidated net profit to Rs 555.66 crore for the third quarter ended December 2023.
Paytm CEO Vijay Shekhar Sharma held discussions with Finance Minister Nirmala Sitharaman, according to sources quoted by ANI.
The Tata Group, consisting of 18 companies, has surpassed a market capitalization of Rs 30 lakh crore, driven by a significant rally in TCS and Tata Motors.
The BSE Sensex opened Wednesday's trading session 317.43 points higher, or 0.44 per cent, at 72,503.52, while the Nifty rose 113.30 points, or 0.50 per cent, at 22,042.70. Robust foreign fund inflows further bolstered the positive momentum in equities.
Shares of One97 Communications, the parent company of Paytm, rose 10 per cent to an intraday high of Rs 496.25, bringing relief to investors following a meeting between Paytm founder Vijay Shekhar Sharma and top officials from the Reserve Bank of India and the finance minister, Nirmala Sitharaman.
The Initial Public Offering (IPO) of Jana Small Finance Bank is set to open today, with the bank aiming to utilise the funds from the fresh issue to enhance its core capital and meet future capital requirements. Ahead of the IPO, the bank has already allocated 40,32,588 equity shares to 17 anchor investors, raising Rs 166.95 crore on Tuesday.
Shares of EIH Ltd surged to an all-time high, hitting the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in early trade on Wednesday, marking the fourth consecutive session of gains. The stock of the flagship company of the Oberoi Group witnessed this uptrend following its strong performance in the third quarter of the fiscal year 2023-24.

Oil firms losing Rs 3 per litre on diesel, profits on petrol shrink

Wednesday 07 February 2024 07:25 AM UTC+00
New Delhi: State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), have refrained from adjusting petrol, diesel, and cooking gas (LPG) prices for almost two years, resulting in substantial losses when input costs were higher and profits when raw material prices were lower. Despite calls to revert to daily price revisions, they have held steady, citing extreme price volatility and the incomplete recouping of past losses.
The government said that some level of trade with Pakistan persists through air and sea routes, although Pakistan has unilaterally ceased all business through land borders.
Nestle India Ltd, a leading FMCG company, recorded a 4.38 per cent increase in net profit, reaching Rs 655.61 crore for the quarter ended December 31 compared to Rs 628.06 crore in the same period last year, according to a regulatory filing.
Britannia Industries Ltd, a bakery food company, reported a 40.4 per cent decline in consolidated net profit to Rs 555.66 crore for the third quarter ended December 2023.
Paytm CEO Vijay Shekhar Sharma held discussions with Finance Minister Nirmala Sitharaman, according to sources quoted by ANI.
The Tata Group, consisting of 18 companies, has surpassed a market capitalization of Rs 30 lakh crore, driven by a significant rally in TCS and Tata Motors.
The BSE Sensex opened Wednesday's trading session 317.43 points higher, or 0.44 per cent, at 72,503.52, while the Nifty rose 113.30 points, or 0.50 per cent, at 22,042.70. Robust foreign fund inflows further bolstered the positive momentum in equities.
Shares of One97 Communications, the parent company of Paytm, rose 10 per cent to an intraday high of Rs 496.25, bringing relief to investors following a meeting between Paytm founder Vijay Shekhar Sharma and top officials from the Reserve Bank of India and the finance minister, Nirmala Sitharaman.
The Initial Public Offering (IPO) of Jana Small Finance Bank is set to open today, with the bank aiming to utilise the funds from the fresh issue to enhance its core capital and meet future capital requirements. Ahead of the IPO, the bank has already allocated 40,32,588 equity shares to 17 anchor investors, raising Rs 166.95 crore on Tuesday.
Shares of EIH Ltd surged to an all-time high, hitting the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in early trade on Wednesday, marking the fourth consecutive session of gains. The stock of the flagship company of the Oberoi Group witnessed this uptrend following its strong performance in the third quarter of the fiscal year 2023-24.

Oil firms losing Rs 3 per litre on diesel, profits on petrol shrink

Wednesday 07 February 2024 07:25 AM UTC+00
New Delhi: State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), have refrained from adjusting petrol, diesel, and cooking gas (LPG) prices for almost two years, resulting in substantial losses when input costs were higher and profits when raw material prices were lower. Despite calls to revert to daily price revisions, they have held steady, citing extreme price volatility and the incomplete recouping of past losses.
The government said that some level of trade with Pakistan persists through air and sea routes, although Pakistan has unilaterally ceased all business through land borders.
Nestle India Ltd, a leading FMCG company, recorded a 4.38 per cent increase in net profit, reaching Rs 655.61 crore for the quarter ended December 31 compared to Rs 628.06 crore in the same period last year, according to a regulatory filing.
Britannia Industries Ltd, a bakery food company, reported a 40.4 per cent decline in consolidated net profit to Rs 555.66 crore for the third quarter ended December 2023.
Paytm CEO Vijay Shekhar Sharma held discussions with Finance Minister Nirmala Sitharaman, according to sources quoted by ANI.
The Tata Group, consisting of 18 companies, has surpassed a market capitalization of Rs 30 lakh crore, driven by a significant rally in TCS and Tata Motors.
The BSE Sensex opened Wednesday's trading session 317.43 points higher, or 0.44 per cent, at 72,503.52, while the Nifty rose 113.30 points, or 0.50 per cent, at 22,042.70. Robust foreign fund inflows further bolstered the positive momentum in equities.
Shares of One97 Communications, the parent company of Paytm, rose 10 per cent to an intraday high of Rs 496.25, bringing relief to investors following a meeting between Paytm founder Vijay Shekhar Sharma and top officials from the Reserve Bank of India and the finance minister, Nirmala Sitharaman.
The Initial Public Offering (IPO) of Jana Small Finance Bank is set to open today, with the bank aiming to utilise the funds from the fresh issue to enhance its core capital and meet future capital requirements. Ahead of the IPO, the bank has already allocated 40,32,588 equity shares to 17 anchor investors, raising Rs 166.95 crore on Tuesday.
Shares of EIH Ltd surged to an all-time high, hitting the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in early trade on Wednesday, marking the fourth consecutive session of gains. The stock of the flagship company of the Oberoi Group witnessed this uptrend following its strong performance in the third quarter of the fiscal year 2023-24.

Oil firms losing Rs 3 per litre on diesel, profits on petrol shrink

Wednesday 07 February 2024 07:25 AM UTC+00
New Delhi: State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), have refrained from adjusting petrol, diesel, and cooking gas (LPG) prices for almost two years, resulting in substantial losses when input costs were higher and profits when raw material prices were lower. Despite calls to revert to daily price revisions, they have held steady, citing extreme price volatility and the incomplete recouping of past losses.
The government said that some level of trade with Pakistan persists through air and sea routes, although Pakistan has unilaterally ceased all business through land borders.
Nestle India Ltd, a leading FMCG company, recorded a 4.38 per cent increase in net profit, reaching Rs 655.61 crore for the quarter ended December 31 compared to Rs 628.06 crore in the same period last year, according to a regulatory filing.
Britannia Industries Ltd, a bakery food company, reported a 40.4 per cent decline in consolidated net profit to Rs 555.66 crore for the third quarter ended December 2023.
Paytm CEO Vijay Shekhar Sharma held discussions with Finance Minister Nirmala Sitharaman, according to sources quoted by ANI.
The Tata Group, consisting of 18 companies, has surpassed a market capitalization of Rs 30 lakh crore, driven by a significant rally in TCS and Tata Motors.
The BSE Sensex opened Wednesday's trading session 317.43 points higher, or 0.44 per cent, at 72,503.52, while the Nifty rose 113.30 points, or 0.50 per cent, at 22,042.70. Robust foreign fund inflows further bolstered the positive momentum in equities.
Shares of One97 Communications, the parent company of Paytm, rose 10 per cent to an intraday high of Rs 496.25, bringing relief to investors following a meeting between Paytm founder Vijay Shekhar Sharma and top officials from the Reserve Bank of India and the finance minister, Nirmala Sitharaman.
The Initial Public Offering (IPO) of Jana Small Finance Bank is set to open today, with the bank aiming to utilise the funds from the fresh issue to enhance its core capital and meet future capital requirements. Ahead of the IPO, the bank has already allocated 40,32,588 equity shares to 17 anchor investors, raising Rs 166.95 crore on Tuesday.
Shares of EIH Ltd surged to an all-time high, hitting the upper circuit of 20 per cent at Rs 426.15 apiece on the BSE in early trade on Wednesday, marking the fourth consecutive session of gains. The stock of the flagship company of the Oberoi Group witnessed this uptrend following its strong performance in the third quarter of the fiscal year 2023-24.

Oil firms losing Rs 3 per litre on diesel, profits on petrol shrink

Wednesday 07 February 2024 07:25 AM UTC+00
New Delhi: State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL), have refrained from adjusting petrol, diesel, and cooking gas (LPG) prices for almost two years, resulting in substantial losses when input costs were higher and profits when raw material prices were lower. Despite calls to revert to daily price revisions, they have held steady, citing extreme price volatility and the incomplete recouping of past losses.
The government said that some level of trade with Pakistan persists through air and sea routes, although Pakistan has unilaterally ceased all business through land borders.
Nestle India Ltd, a leading FMCG company, recorded a 4.38 per cent increase in net profit, reaching Rs 655.61 crore for the quarter ended December 31 compared to Rs 628.06 crore in the same period last year, according to a regulatory filing.
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