Advent International, a leading global private equity fund led by Shweta Jalan in India, has initiated merger process between its portfolio companies Suven Pharmaceuticals and Cohance Lifesciences. The merger, if approved, aims to create a top CDMO and API firm for the pharma and specialty chemical markets. Investment banks Kotak Mahindra Capital and Citi have been chosen as advisors for the deal.

Electric mobility company Magenta Mobility and commercial EV manufacturer Euler Motor are extending their partnership to include an additional 2,000 cargo e-three-wheelers. This follows the delivery of 500 vehicles to Magenta and will be manufactured at Euler Motors' Palwal facility. The collaboration aims to promote the adoption of EVs in India and contribute to sustainable transportation.

FM Sitharaman said that India's retail inflation is stable and within the 2-6% tolerance band. In Dec 2023, the rate was at 5.55%, within RBI's range for the third straight month. The govt has taken steps to control food prices, including launching subsidised essentials like Bharat Atta and Dal. FM also mentioned that Karnataka is receiving funds as per the Finance Commission's recommendation.

Reliance Jio said that the 6 GHz band (1200 MHz) is critically required for the growth of 5G and the introduction of 6G in the country, and the entire band should be earmarked for IMT or mobility services, so that around 300 MHz to 400 MHz is available to each of the telecom operators. Jio dismissed the demands made by tech companies to allocate airwaves in this band for WiFi services.

British American Tobacco Plc's shares rose after it announced plans to sell part of its stake in Indian company ITC, valued at over £14 billion. This news was well received by analysts, who believe it will accelerate the company's deleveraging and share buyback plans. However, BAT also reported an increase in writedowns on its US brands due to declining sales as more Americans quit smoking.

Snap's stock plummeted over 32% after missing revenue expectations and struggling against competitors like Meta and Alphabet for advertising dollars. This stands in contrast to the strong ad sales reported by other companies, which could indicate a preference for larger, more stable companies amid economic uncertainty.

Canara Bank's innovative DnA Center in Bengaluru marks a significant milestone in its transformation journey, with a focus on data and analytics. Through AI integration and a recent hackathon, the bank aims to enhance customer experience and drive business innovation. With strategic partnerships and state-of-the-art facilities, Canara Bank is leading the way in technological advancements.

China's stock markets closed up after appointing a new securities watchdog head and taking measures to stabilize the market. The CSI300 index jumped 5.8% and the Shanghai index advanced 5%, their biggest weekly gains since November 2022. Hong Kong's Hang Seng index lost 1.3% due to a decline in Alibaba. The new appointment signals more attention to the capital market from top leaders.

Microsoft plans to equip 2 million people with AI skills by 2025 through partnerships with governments, nonprofits, and corporations. This initiative comes as Indian leaders recognize the need for new skills to prepare for the growth of AI, and many workers feel they lack the necessary capabilities. The focus will be on training individuals in smaller cities and rural areas.

On February 7, there was a lot of stock trading in Indiabulls Housing Finance with LIC selling Rs 75.20 crore worth of shares and other investors also buying and selling shares in the company. A range of other companies, such as Dhanalaxmi Bank and Navin Flourine, also saw significant trading activity on this day, with various buyers and sellers taking part.

Cummins India's stock rose 10% and reached a new high of Rs. 2,648.80 after reporting strong Q3 results with record profits and revenue. This was a 26% increase in profits and 16.18% growth in revenue compared to the same period last year. The stock has surged 76% in the past year and is expected to continue growing due to robust domestic demand.

In order to improve the solvency ratio of three public sector insurance companies – United India Insurance, National Insurance, and Oriental Insurance – the finance ministry plans to infuse capital after analyzing their performance in Q3 and Q4 of FY24. The government has already invested Rs 17,500 crore in these companies, which have shown promising Q2 profits despite losses last year.

In summary, RBI Governor Shaktikanta Das stated that they have been engaged with Paytm Payments Bank for some time and the restrictions imposed on them were a supervisory action due to non-compliance. He also emphasized that such actions are proportionate to the gravity of the situation and in the best interest of systemic stability.

SEBI has proposed a framework for dealing with securities of foreign portfolio investors (FPIs) whose registration has expired. The proposed changes include late payment charges for regularising registration, prescribed time limit for liquidating holdings and guidelines for disposing securities. Non-compliant FPIs with blocked securities will have a one-time opportunity to sell their securities.

Tokenisation, the process of replacing a card's 16-digit number with a unique token for safer online transactions, is gaining momentum in India. The RBI has directed payment aggregators and merchants not to store sensitive card information, resulting in increased security and success rates. Tokenisation also allows for convenience and faster completion times.