Punjab govt abolishes the requirement of NOC for registering land and property, citing delays and inconvenience faced by people. CM Bhagwant Mann says decision was made in consultation with public and will benefit them. FM Harpal Singh Cheema praises the move as pro-people and aimed at simplifying administration. Despite previous efforts to reduce issuance time for NOCs, pendency remains high.

Food delivery app Zomato's net profit for the third quarter was at Rs 138 crore, a significant increase from the same period last year when the company reported a loss of Rs 347 crore. This growth can be attributed to a 69 percent rise in revenue to Rs 3,288 crore. The company's performance stands out in the current economic climate where e-commerce is struggling due to high inflation.

Redington Ltd, an IT solutions provider, reported a standalone net profit of Rs 153.58 crore for the October-December 2023 quarter, with total income increasing to Rs 111.19 crore. Despite a decrease in nine-month net profit, the company has seen strong growth in global revenues and is focused on expanding its capabilities in technology distribution as well as cloud services.

Stable Money, an online fixed income portal, has acquired a license from BSE to sell corporate bonds on their platform. The company plans to offer bonds with a minimum ticket size of Rs 1,000 or lower in order to reach a broader user base. This move is in line with SEBI's circular that brings online bond platforms under a regulatory framework.

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.