Power Grid Corporation acquired Ramgarh New Transmission Limited (RNTL), which it has won in a tariff-based competitive bidding. The entity was acquired for an aggregate value of about Rs 5.61 crore including 50,000 equity shares at par at Rs 10 each along with assets and liabilities of the Company as of the acquisition date (March 9, 2021).

The government has made it mandatory for businesses with over Rs 50 crore turnover to generate e-invoices for B2B transactions from April 1. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions has been made mandatory for companies with turnover of over Rs 500 crore and Rs 100 crore from October 1, 2020, and January 1, 2021, respectively.

Piramal Capital and Housing Finance, which is set to acquire Dewan Housing Finance (DHFL), is raising Rs 2,000 crore from a group of public sector banks in a bond sale. State Bank of India (SBI) and Bank of Baroda (BOB) could subscribe to those papers. A meeting of the committee of directors will be held on Wednesday to consider and approve the issue of secured, rated, listed, redeemable NCDs.

Flipkart joins the league of conglomerates like Reliance Industries and IT firms such as Mindtree to cover COVID-19 vaccination costs of its employees and their families. The company has given the employees an option to either get reimbursed for the costs of the vaccinations or get them for free at a partner hospital. This drive will cover group company Myntra as well.

Department of Telecommunications (DoT) developed an in house panel of 5G experts by inaugurating a 12-week online certificate course to prepare and ensure its authorities on the fifth-generation technology. The 36-hour certificate course on 5G has been made available to Officers of the Department of Telecommunications with the first batch starting from 9th March 2021.

Sterlite Technologies Ltd (STL) appointed JS Deepak, former secretary, department of telecommunications (DoT), to its board of advisors. Deepak, who is also India’s former ambassador and permanent representative to the World Trade Organisation in Geneva for three years, will closely work with STL’s management and the board of directors to advise the company on its strategic roadmap.

Paytm on Tuesday announced it is applying for NUE in a consortium with players including ride-hailing platform Ola, as part of its efforts to develop more innovative and inclusive digital payments solutions for the Indian population. Paytm founder and CEO Vijay Shekhar Sharma opined the company sees the NUE system to play out as a great opportunity for payments in the country.

Rakesh Jhunjhunwala believes Nazara Tech will have an extremely bright future. Elara Capital is also confident about 25% growth of the company due to the following facts: [1] Rising smartphone penetration, [2] Cheaper data price, [3] Higher youth population, [4] Digital advertising (social media, gaming & search) will grow at a rapid pace, [5] Shift towards app-based economy will benefit Nazara.

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The telecom regulatory authority of India (TRAI) on Tuesday issued directions to suspend operations of a system that keeps a check on fraudulent and fake SMSes after it caused massive disruptions in UPI payments. The implementation of the blockchain system has been suspended for a period of seven-days after discrepancies were found in the onboarding process of PEs.

Indian Bank on Tuesday announced its committee of directors has given approval for raising up to Rs 4,000 crore through the share sale. Shareholders of the bank on March 2 had given approval for the capital raising. The Committee of Directors in its meeting held on March 9, 2021, has accorded approval for raising of equity capital of the bank aggregating up to Rs 4,000 crore.

Instagram is ready to offer some creators in India an option to share their short video clips- Reels on Facebook’s main social networking page. The Facebook-owned company will now be sharing the Instagram Reels with augmented-reality effects in the news feed of Facebook. The parent company is also calling this feature separately as “Reels on Facebook.”

Paras Defence and Space Technologies filed a DRHP with the Sebi for its IPO. The public issue will comprise a fresh issue of Rs 120 crore and an offer for sale of 17,24,490 equity shares by the promoter and individual selling shareholders. The company will utilise net proceeds from the fresh issue for the purchase of machinery and equipment and repaying of certain borrowings.

The Centre signed a fresh deal with Serum Institute of India last week for supplying 20 million doses of its COVID-19 vaccine. Serum Institute of India, the world's largest vaccine manufacturer by volume, partnered with British-Swedish drugmaker to produce 1 billion doses of its COVID-19 vaccine. The local version of Oxford-AstraZeneca COVID-19 vaccine will be known as Covishield.

Suryoday Small Finance Bank raised Rs 150 crore from SBI Life Insurance Company and Axis Asset Management Company in a pre-IPO placement, valuing the bank at Rs 2,700 crore. The pre-IPO placement was made at Rs 291.75 a share ahead of its likely initial public share sale that seeks to garner Rs 550-600 crore. The public issue is likely later this month.