French construction materials group Saint-Gobain on Thursday said it is aiming for a double-digit operating margin in 2024 despite a difficult market that dragged its 2023 annual sales down 6.4%. In a call with journalists, Bazin added that there is a "structural unmet need for housing" in Western Europe, North America and Asia, which could reverse the new-construction division's downward curb.

Financial Intelligence Unit-India imposed ₹5.49 crore penalty on Paytm Payments Bank for violating the obligations under the Prevention of Money Laundering Act (PMLA). The heavy fine came after the review of Paytm Payments Bank operations based on the specific information from law enforcement agencies, the Ministry of Finance said in a release on Friday.

Asia Index Pvt Ltd has done major rejigs across midcap and smallcap indices of BSE, and the changes will be effective from March 18. The financial indices provider has added 54 stocks to the S&P BSE Smallcap Index. It has added 57 stocks to the S&P BSE MidSmallcap Index, and 58 stocks to the S&P BSE Allcap Index.

Bharat Highways InvIT IPO: The initial public offering (IPO) of Bharat Highways InvIT was fully subscribed on the third and final day of bidding, driven by stable demand from investors. Bharat Highways InvIT IPO hit the Indian primary market and opened for subscription on Wednesday, February 28, and closed today (Friday, March 1, 2024.)

Spanish RE group Inmobiliaria Colonial on Thursday reported a net loss of 1.02 bn euros for the full year 2023, brought about by a 9% drop in the value of its assets. Real estate companies such as Colonial and its peer Merlin Properties earn profit on the rental of their assets and have to include in their results the impact of an updated valuation of their properties conducted every 6 months.

The Financial Intelligence Unit-India has imposed a penalty of Rs 5.49 cr on PPBL for violating money laundering norms. In a statement issued on March 1, the FinMin said that its Financial Intelligence Unit began looking into the beleaguered payments bank after receiving information from law enforcement agencies that a few entities and their business network were engaged in illegal activities.

Torrent Power on Friday said it has received a Letter of Award (LoA) from the Railway Energy Management Company Ltd (REMCL) for a grid-connected round the clock renewable power project. The project shall be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA), Torrent Power said in a statement.

Shares of food delivery company Zomato touched an all-time high of Rs 173.5 during intraday trade on March 1, and eventually closed 0.82% higher at Rs 166.8 on the NSE. Zomato's shares have gained 205% in the last one year and 70% in the last six months. Analyst expectations  Motilal Oswal expects Zomato to deliver strong growth of 70% YoY in FY24.

The Union government will look at providing fiscal and policy support to sunrise sectors, Artificial Intelligence (AI), semiconductors, deep sea and space which are going to be the priority areas going ahead, Finance Minister Nirmala Sitharaman said on March 1. “We will be emphasising on some sectors which will be immensely supported going ahead.

Welspun Corp Limited said that its step-down subsidiary, Sintex Advance Plastics Limited (SAPL), is going to set up a manufacturing facility for plastic pipes and water storage tanks in Madhya Pradesh. In a filing to the exchanges on March 1, Welsun said the investment for this proposed venture is approximately Rs 400 crore.

Agri-inputs firm Rallis India on Friday announced the appointment of Gyanendra Shukla as its Managing Director and Chief Executive Officer for a period of five years effective from April 1. The board has approved the appointment of Shukla, who will take over Sanjiv Lal on completion of his term on March 31, 2024, the company said in a statement. Shukla, an experienced agri professional.

On March 1, One97 Communications (OCL), the parent firm of Paytm, in a statement to the stock markets said that its board approved the discontinuation of several inter-company agreements with its associate entity, Paytm Payments Bank Limited (PPBL). While OCL has  partnered with Yes Bank, Axis and HDFC to continue its UPI business as a third party application provider (TPAP) app.

Jio Financial Services will enter the S&P BSE Large Cap index as Asia Index Private announced changes to several BSE indices. Asia Private Index is a partnership of S&P Dow Jones Indices and Bombay Stock Exchange. In the S&P BSE MidCap index, Tata Technologies, JSW Infrastructure, Indian Renewable Energy Development Agency will be included. The changes will come into effect on March 18.

The Delhi High Court on March 1 observed that it is apparent from the records that the airline's Resolution Professional (RP) is unable to maintain the aircraft. Justice Tara Vitasta Ganju also noted that the RP must tell the court on March 6 if he is willing to hand over the maintenance of the aircraft to the lessors or a third-party agency. 

Deutsche Bank AG, The Hongkong and Shanghai Banking Corporation Ltd, HDFC Bank and Citi Bank NA have settled with the market regulator, following an examination by the regulator into the banks' alleged violations of Sebi (Foreign Portfolio Investors) Regulations. The banks were examined in their role as designated depository participants (DDPs).