Larsen & Toubro (L&T) on Tuesday said it has bagged a large project to construct a bridge across the Brahmaputra in Assam. As per L&T classification, contracts worth Rs 2,500-5,000 crore fall in the category of large orders. ”The transportation infrastructure business of L&T Construction has won a project contract, to construct the Palashbari to Sualkuchi cable-stayed bridge.

ChrysCapital Management Co. is looking to raise as much as $300 million for a new fund that will allow the buyout firm to hang on to its minority stake in India’s main stock exchange. The Indian private equity company is working with a team at UBS Group AG for a so-called continuation fund that will give it more time and capital to hold its investment in National Stock Exchange of India Ltd.

Paytm Payments Bank has no intention of challenging the Reserve Bank of India (RBI) in court and is instead working with the banking regulator to ensure compliance and address concerns flagged by it, the company told Moneycontrol. On January 31, the RBI directed Paytm Payments Bank to stop onboarding new customers.

HSIIDC will auction 450 square metre industrial plots in Barwala Industrial Area Phase-I on Feb 23 with a reserve price of Rs 7,00,950. Interested buyers can register on the HSIIDC portal till Feb 15 to participate in the e-auction. This move aims to increase commercial activities in the area and boost economic growth.

Shares of Varun Beverages jumped over 3% to the day's high of Rs 1,350 on the NSE on Tuesday following the company's strong December quarter earnings and positive stock reviews by a clutch of top brokerages. Jefferies and Nuvama reiterated their buy ratings while Kotak Institutional Equities recommended an add view. VBL which follows the January-December calendar reported its Q42023 profit.

Shares of Bharti Airtel rose 5.6% to Rs 754.65 after the company reported its earning results for the quarter ending December. On Monday, the company reported its net profit at Rs 2,442.2 crore, an increase of 54% year on year. Its revenue stood at Rs 38,339 crore, which was 6.3% higher from Rs 36,062 crore in the year-ago period. In the last five days, the company’s stock has fallen 0.9%.

Foreign portfolio investors (FPI) sold a record amount of Indian financials in January – the sector in which they have the largest holdings – after the country’s largest lender HDFC Bank posted disappointing earnings, according to National Securities Depository data. The monthly selling in financials, worth about 300 billion rupees, snapped the FPI buying streak in Indian equities.

Benchmark indices in China and Hong Kong popped strong gains on February 6 as the measures undertaken by Chinese regulators to arrest the stock market cheered investors. China's benchmarks CSI 300 index settled 3.5 percent higher at 3,311.69, while the Shanghai Composite close 3.1 percent up at 2,789.49. Both indices registered their biggest single-day gains since 2022.

The Vote-on-Account presented on Thursday by the Finance Minister, is an interim budget before the General Elections. A full-fledged budget is likely to be presented by the new Cabinet, possibly in July, following the conclusion of the election. The Finance Minister’s speech highlighted the advancements made by the Indian economy, progressing rapidly towards the goal of $5 trillion.

An analysis of the results of 33 Nifty companies shows operating profits outpacing sales, reflecting stable profitability. However, sales growth is yet to gather pace in a big way. In fact, as per Motilal a significant chunk of Nifty’s incremental earnings accretion is driven by a group of five companies and reflects uneven earnings performance in the benchmark index.

SBI Mutual Fund on Tuesday (February 6, 024) started subscription for its new thematic mutual fund- SBI Energy Opportunities Fund. The open ended equity fund will follow the energy theme. The fund house will provide regular and direct plans with growth and income distribution-cum-capital withdrawal (IDCW) options.

Bengaluru's Embassy Group has joined forces to develop a luxury residential project on 3.75 acres of land in Whitefield, with an estimated revenue of Rs 550 crore. The project is expected to be completed by FY24 and will include 400 apartments. Aditya Virwani, COO of the group, plans to launch 4 million square feet of residential space worth Rs 3,300 crore in FY23-24.

Reported Standalone quarterly numbers for Tokyo Finance are: Net Sales at Rs 0.20 crore in December 2023 up 10.66% from Rs. 0.18 crore in December 2022. Quarterly Net Profit at Rs. 0.05 crore in December 2023 up 9.15% from Rs. 0.04 crore in December 2022. EBITDA stands at Rs. 0.08 crore in December 2023 up 100% from Rs. 0.04 crore in December 2022.

Reported Standalone quarterly numbers for Moongipa Capital Finance are: Net Sales at Rs 2.76 crore in December 2023 up 357.3% from Rs. 0.60 crore in December 2022. Quarterly Net Profit at Rs. 0.59 crore in December 2023 up 609.43% from Rs. 0.08 crore in December 2022. EBITDA stands at Rs. 0.75 crore in December 2023 up 525% from Rs. 0.12 crore in December 2022.

With regulatory cloud hanging over Paytm Payments Bank, larger payments bank industry witnessed a roller-coaster ride of changes in its short history of 8 years. Starting from 2016, 11 entities received payment bank licences from the RBI. The RBI on Jan 31 imposed major business restrictions on Paytm Payments Bank including accepting fresh deposits and undertaking credit transactions after Feb 29.