Grasim Industries: Aditya Birla Group’s Director Himanshu Kapania, said the group’s new paints business, Birla Opus, expects to exit FY25 with high-single-digit market share and secure the second position in the decorative paints market, in a post-launch conference with media on February 22. The comments come as industry players are betting high on the decorative cement business amid expectations for the sector to grow to ₹1 lakh crore in the next five years.
IRCTC: The Indian Railway Catering and Tourism Corporation has partnered with Swiggy for the delivery of pre-ordered meals booked by passengers through the corporation’s e-catering portal. During the initial stage, Swiggy will provide services to IRCTC customers at four railway stations – Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam. The services will be expanded to other stations after the completion of the first phase.
Paytm: Daily downloads of the Paytm app have fallen since February 1, a day after the Reserve Bank of India imposed curbs on Paytm Payments Bank (PPBL). Paytm app downloads declined 55% to 60,627 on February 19 from 135,139 on February 1, according to data shared by Appfigures, a mobile analytics and intelligence platform in New York, reported Moneycontrol. During this time, downloads of the BHIM UPI app surged 49%, while Google Pay app daily downloads dropped 10.6%.
Angel One: The brokerage firm will raise nearly ₹2,000 crore through preferential issue, QIP or other modes, the company announced on February 22. The company in an exchange filing said it’ll use the funds to augment and build financial flexibility to grow the business within the broking business and across inorganic avenues within the fintech space.
Vodafone Idea: The telecom company said in an exchange filing on February 22, that its board will convene on February 27 to consider all avenues of fundraising. The company said that the board will “consider and evaluate any and all proposals for raising of funds in one or more tranches by way of a rights issue, further public offer, private placement including preferential allotment, qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate.
Ramkrishna Forgings: The company has received approval from its board to start manufacturing and supplies operations from its Mexico location. The board has also approved an investment of nearly ₹90 crore to establish a facility to manufacture components in the PV/LV segment from the facility.
Salasar Techno Engineering: The RVNL-Salasar JV has emerged as the lowest bidder for the project to construct 132 KV and 220 KV transmission lines and associated feeder bays on a total turnkey basis in Eastern MP. The project, floated by Madhya Pradesh Power Transmission Company, is worth Rs. 174 crore.
Jana Small Finance Bank: The scheduled commercial bank recorded a 12.82% year-on-year growth in net profit at ₹134.64 crore for the quarter ended December, 2023. Net interest income for Q2FY24 grew by 24.4% to ₹548.5 crore compared to the year-ago period. Asset quality improved on a sequential basis, with gross non-performing assets (NPA) falling 25 bps QoQ to 2.19% and net NPA declining 16 bps QoQ to 0.71% during the quarter.
SpiceJet: The low-cost carrier on Thursday said that it has secured an additional ₹316 crore in funding, bringing the total raised through its preferential issue to ₹1,060 crore. Separately, the Delhi high court on Thursday ordered the airline to return a leased engine to Engine Lease Finance BV, in Brussels, Belgium, at its own expense by 10 March, following unsuccessful settlement talks between the two parties.
