This week two IPOs, Happiest Mind Technologies and Route Mobile are going to hit the market. Grey Market premium of more than 50% for both the shares suggest that both issues are going to get bumper response from the investors. Happiest Minds in a IT firm promoted by the founders of Mindtree. Route Mobile is an omnichannel cloud computing service provider.

A wearable computing device with multi-screen capabilities, manufactured by a Kochi-based startup, is planning to take on tech giants such as Google, Microsoft and Apple. Nimo Planet is betting big on the Qualcomm-based Smart Glass that enables a 60-inch display in 3-meter distance. With a motion of the head, the device can enable the user to experience up to six screens.

Reliance Industries Ltd (RIL) has offered all 13 financial and strategic investors of Jio Platforms the option to invest in its Reliance Retail Ventures Ltd (RRVL) unit, two people aware of the developments said. These investors, include Facebook, Google, KKR, Silver Lake and TPG. They helped RIL amass a total of ₹1.52 trillion in the past few months.

Robust demand for two-wheelers and tractors across rural and semi-urban areas in the country remain bright spot for domestic tyre industry amid the challenging business environment due to COVID-19 pandemic, according to MRF Chairman and Managing Director KM Mammen. Normal monsoon and expectations of a bumper crop augur well for the rural economy, he said.

The much-awaited festive season is unlikely to bring any cheers to the travel industry, including the airline sector, as less than 20 per cent of people polled plan to travel during October-November amid the pandemic, a survey said. The festive season in India falls between October and November every year during which festivals such as Dussehra, Durga Puja and Diwali are celebrated.

Banks may restructure loans of more than Rs 10 lakh crore largely attributed to 5-6 critical sectors, including aviation, commercial real estate and hospitality, that have been severely hit by the COVID-19 outbreak, according to bankers. Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for COVID-19 related stress by September 15.

Vodafone Idea said it would make a strategic announcement on September 7 at 11.45 am through a virtual platform, the company said in an exchanges filing. The beleaguered telecom company with its stretched balance sheet is finding it difficult to survive. On September 1, the Supreme Court of India ruled that a staggered payment of additional gross revenue (AGR) dues could be allowed. 

Lakshmi Vilas Bank (LVB) plans to raise up to Rs 1,500 crore to fund business growth and increase foreign shareholding to up to 74 per cent, the private lender said in a notice. LVB said it will seek approval for the proposals from its shareholders in the upcoming annual general meeting (AGM) on September 25 which will take place through audio/visual means due to the coronavirus pandemic. The b...

Tata Steel's production level has now recovered to 100 per cent as the company sees a revival in domestic demand in the current quarter led by a good monsoon and rural economy, its CEO and Managing Director T V Narendran has said. The company is now less dependent on exports compared to the first quarter, he added.

Fugitive diamond merchant Nirav Modi, who has been lodged at a prison in London since his arrest in March last year, is set to appear via videolink for the second leg of his extradition trial at a UK court on Monday. The 49-year-old jeweller is fighting extradition charges related to the estimated USD 2-billion Punjab National Bank (PNB) fraud and money laundering case brought by the Indian gov.

Public-Sector power enterprise NLC India (NLCIL) on Saturday reported a 9.44% drop in its profit after tax (PAT) for the first quarter of FY’21 at Rs 292.54 crore as against Rs 323.04 crore in the corresponding period of the previous year. The total income of the company for the quarter ended was at Rs 2,386.86 crore as against Rs 1,904.03 crore in the corresponding period of the previous year.

Amrutanjan Health Care Ltd, manufacturers of popular pain balm, is investing in digitisation in a big way, setting a target of garnerin g1.3 per cent of national sales through e-commerce, a top official has said. The company was eyeing to expand its distribution network in Western and Northern zones to strengthen its footprint, its Chairman and Managing Director Sambu Prasad said.

GCMMF, which markets dairy products under the Amul brand, will invest around Rs 1,000 crore over the next two years to set up milk processing plants, & another Rs 500 crore on facilities for new products like edible oil, its MD R S Sodhi said. In an interview with PTI, Sodhi said the Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) expects 12-15% growth in revenue in current fiscal year.

Women participation in equity markets has surged during COVID- 19 pandemic and experts believe the growing need to share household expenses with rampant pay cuts and lay-offs has brought them to trading, market participants said. Additionally, women are looking for alternatives to the decreasing bank's fixed deposit (FD) rates, they added.

Telecom regulator Trai has granted additional time, till September 8, to Vodafone Idea to reply to its show-cause notice on priority plan, after the company sought more time to respond. The Telecom Regulatory Authority of India (Trai) last month had slapped a show-cause notice on Vodafone Idea Ltd (VIL) over its pay-more-for-priority treatment mobile plan for lack of transparency.