The Indian Space Promotion and Authorisation Centre has released a manifesto stating that private launch companies, Skyroot Aerospace and Agnikul Cosmos, are expected to make seven launches between 2024 and early 2025. These include the startups' first commercial missions. Hyderabad's Skyroot will launch their Vikram-1 vehicle in Q1 of FY 2024-25.

Including a nominee for Demat accounts is crucial for investors to secure their assets and pass them on to legal heirs. Currently, 70% of individually owned Demat accounts in the country have no nominations, leading to unclaimed assets worth Rs 50,000-80,000 crore. SEBI has extended the deadline for providing nominations to ease compliance and ensure investor convenience.

Sobha Ltd reported a 53% decrease in net profit and a decline in total income for the quarter ended December 2023. The company saw a 37% increase in quarterly sales and reduced its net debt/equity ratio. Bengaluru accounted for the majority of sales with an average price increase of 21.5%. Sobha also launched two new projects and had a total real estate collection of Rs 1293 crore in Q3.

The RBI has mandated lenders to provide KFS to all borrowers, highlighting key terms such as interest rates, fees, and repayment schedules. This will enhance transparency and help borrowers make informed decisions, according to experts. The requirement for KFS has been extended to include retail and MSME loans as well, as announced by RBI Governor Shaktikanta Das.

Shares of Paytm's parent company, One97 Communication, fell 10% after two days of gains due to regulatory non-compliance with RBI norms. The stock hit the lower circuit of Rs 446.65 and may retest its 52-week low of Rs 395. Investors are advised to refrain from taking new positions until clarity is provided. The stock has seen a decline in the last five days, month, and year.

Walmart-owned PhonePe is launching its Indus Appstore on February 21, competing with Google's Play Store. The marketplace boasts a zero percent fee on in-app purchases and offers localized and personalized experiences. It has partnerships with OEMs and popular apps, as well as dedicated support and account managers for developers.

Metafin, a cleantech-focused NBFC, has raised USD 5 mn in equity funding from Prime Venture Partners and Varanium Capital. They specialize in providing rooftop solar loans for semi-urban and rural MSMEs. The funds will be used for expanding across states, growing their loan book, enhancing technology, and hiring talent. Their goal is to finance over one million solar projects in the next 5 years.

Vodafone Idea has criticized a possible 2G/3G shutdown through regulatory mandate, stating that it would negatively impact low-income and marginalized consumers, widening the digital divide. The telco suggests a handset subsidy scheme to promote organic migration to 4G, instead of regulatory mandates. They also believe that more collaboration is needed to identify and launch 5G use cases.

Rashi Peripherals' Rs 600 crore IPO was oversubscribed 1.09 times on its first day, with bids for 1.54 crore shares received against the 1.42 crore shares available. Retail and HNI investors were the main contributors, buying 1.36 and 1.87 times the allotted quotas respectively. The company aims to raise funds through a fresh issue, with Rs 180 crore already raised from anchor book investors.

Pharma major Lupin Ltd. on February 7 reported a percent 300 percent year-on-year rise in consolidated net profit at Rs 613 crore for the October-December quarter of the current financial year. The company had reported a profit of Rs 157.6 crore in the same period last year. Revenue came in at Rs crore, up percent from the year-ago quarter numbers of Rs 4,322.2 crore.

SpiceJet, a low-cost airline, may settle with tech service provider Raymach Technologies over alleged outstanding dues of Rs 2.7 crore. Raymach has filed an insolvency plea against SpiceJet and NCLT has directed the airline to respond. Similar pleas have been filed by four aircraft lessors. The tribunal has dismissed two pleas and urged SpiceJet to settle with others.

Apollo Hospitals Ltd reported a 60% increase in net profit at Rs 245 crore for the October-December quarter, surpassing estimates. Revenue also rose by 14%. The company declared an interim dividend of Rs 6 per share and saw a higher EBITDA margin of 12.7%. This is a developing story. Check back for updates.

India will oppose any discussion on non-trade issues, such as EU's carbon tax on steel, iron ore, and cement imports, at the upcoming WTO Ministerial Conference. The country believes these topics should be addressed in other forums, like the UN. India has also submitted a paper expressing concerns about the carbon tax and is engaging in bilateral talks to lessen its impact on domestic industries.

Vedanta Base Metals CEO Chris Griffith plans to raise $1.3 bn for a restart of its Konkola Copper Mines unit in Zambia. The company is seeking financing partners, including potentially selling a minority stake, with Vedanta retaining majority ownership and operational control. Griffith aims to increase copper output to 200,000 tons after investing $1 billion over the next five years in the mines.

Major stock indexes, including the S&P 500 and Nasdaq, opened with gains on Wednesday fueled by strong company earnings and expectations of interest rate cuts. The Dow Jones rose by 0.24% while the S&P 500 and Nasdaq both increased by over 0.3%. Investors are eagerly awaiting updates from policymakers.