The Lucknow bench of Allahabad HC has clarified that slum dwellers with commercial establishments in Akbarnagar cannot avail benefits under the 2021 slum policy. The court has asked for a list of those with GST and IT returns. The state govt's act of demolishing without following rehabilitation is deemed illegal, while some have opted for it, others with multistoried establishments are unwilling.

BGR Energy Systems' loss widened to Rs 691.38 crore in the December quarter compared to the year-ago period mainly due to higher expenses. The consolidated net loss of the company was Rs 59.22 crore in the quarter ended on December 31, 2022, a BSE filing showed. Total expenses rose to Rs 1,031.38 crore in the quarter from Rs 334.29 crore in the same period of the last fiscal.

Jefferies reports a remarkable turnaround of Indian PSUs in the past year, with the PSU Index surging 70% and outperforming the Nifty. This is due to improved EPS and RoE, and a changed government stance towards maximizing value for SOEs. Top PSU picks include SBI, Coal India, and NTPC. Despite this, the PSU Index still trades at a 40% discount to the Nifty, leaving room for further revaluation.

Uber announced a $7 bn share buyback after its first annual profit since going public, signalling confidence in its financial recovery. Shares rose 12%, despite a planned driver strike for fair pay. The company's market value could exceed $150 billion. Its CFO stated this is a "vote of confidence" and analysts believe the company is demonstrating strong operational discipline under CEO Dara K.

PSP Projects has won a Rs 630.90 crore construction order in Gujarat to build a university for Rail Vikas Nigam Ltd in Vadodara. This is part of their total order inflow of Rs 2,626.61 crore so far this fiscal year. The project is expected to be completed in two and a half years. PSP Projects Ltd is a construction company that provides various construction and related services.

Supreme Court has directed the State Bank of India to stop issuing electoral bonds and submit all details to the Election Commission by March 6. The poll panel will make donations public within a week. SBI also must submit details of political parties that received contributions through electoral bonds. This ruling came after petitions challenging the validity of the scheme of political funding.

Genesys, a digital mapping firm, reported a net profit of Rs 15.86 crore for the December quarter, marking a 9% increase in revenue compared to the same period last year. The company's success is attributed to its 3D mapping and digital twin content platform which is gaining traction. Genesys also recently partnered with Survey of India to revolutionize Indian mapping with digital twins of cities.

The National Pension System (NPS) is a low-cost retirement planning product with strong risk management and regulatory oversight. It offers a comfortable retirement through market-linked returns, disciplined savings, and compounding. As awareness grows, the NPS has gained popularity, resulting in its assets under management exceeding ₹10 trillion.

The NHA's CEO announced that the National Health Claim Exchange (NHCX) will be launched in the next 15-20 days. It aims to streamline claim processing and reduce costs for insurance companies, with the support of the Insurance Regulatory and Development Authority. The platform will also help fill the gap between those covered by Ayushman Bharat and those who are not.

Reliance Industries, an Indian conglomerate, has become the first company in India to achieve a market capitalisation of Rs 20 lakh crore ($238.7 billion). This milestone puts RIL among the most valuable companies in the world, surpassing companies like Pepsico and SAP. The company's chairman, Mukesh Ambani, has also seen a significant increase in his net worth this year.

Fintech companies in India are facing increased regulatory scrutiny for lapses in their KYC processes, with several payment companies under investigation. The RBI is taking action to ensure compliance with FATF standards and prevent money laundering and terrorism financing. The finance ministry has met with industry participants to address these issues.

Fineotex Chemical shares have been on an uptrend for the last one week. However, it seems that the chemical stock still possesses some upside potential. In early morning deals on Thursday, Fineotex Chemical share price opened upside and went on to touch an intraday high of ₹421.30 apiece on NSE, which turned out a new lifetime high for this Ashish Kacholia-backed stock!

HDFC Bank is facing increased bearish bets on stock futures as concerns about its profitability weigh on its share price. Total open interest in HDFC's stock futures has reached a record high and most of these positions are short. The stock has declined by over 21% since its third-quarter results were announced, with analysts attributing this to a decrease in net interest margins.

State-owned NARCL and Omkara ARC are competing to acquire Wind World (India)'s debt of ₹6,147 crore, with NARCL offering ₹670 crore and Omkara ARC offering ₹550 crore. NARCL's offer includes 15% cash and the rest in security receipts, while Omkara offers all cash upfront. The company's strong financial performance and demand in the renewable energy space make it attractive.

IRDAI proposes changes to extend the free look period for life and health insurance policies to 30 days, up from the current 15 days for policies sold physically. This allows policyholders to review and cancel their policies without incurring surrender charges within a specified time. The draft regulations also aim to reduce compliance burdens for insurers.