All Lakshmi Vilas Bank (LVB) customers will continue to get interest rates on savings bank accounts and fixed deposits as offered by the erstwhile LVB till further notice, DBS said in a press release on Monday. Also, all LVB employees will continue in service and are employees of DBS Bank India on the same terms & conditions of service as under LVB.

Paytm Money, the wealth management arm of digital payments major Paytm, is set to open up IPO investments for its users, the company said in a press note on Monday. This is part of the Alibaba- and Softbank-backed Paytm’s overall aim to expand its financial services bouquet and match larger tech brokers such as Upstox, Zerodha and 5Paisa in terms of offerings.

The Reserve Bank of India (RBI) is likely to keep interest rates unchanged and reiterate its accommodative stance in this week’s monetary policy review, buoyed by good news on the economic front, said investors and traders. But it could also cite concerns about inflation, which has stubbornly remained above the prescribed target range.

Indian stocks surged 76% from the lows of March—the second-highest gainer among the world’s 10 largest stock markets—propelled by hopes of an early vaccine against covid and greater weightage in MSCI indices. Only Canadian stocks gained more—79%—while the US market, with gains of 73%, came in third. The Indian stock market now has a record market capitalization of $2.31 trillion.

India's currency, debt and equity markets - BSE and NSE - are closed today for Guru Nanak Jayanti. The financial markets will resume trading on Tuesday, December 1. Commodity exchange MCX will however open for trading for the evening session, from 5:00 pm - 11:30 pm. The morning session on MCX - from 09:00 am - 5:00 pm - will remain closed for trading due to the public holiday.

Uber India plans to have 3,000 electric vehicles (EV) in its fleet by the end of 2021, a top executive at the ride hailing company said. Uber plans to continue to partner with original equipment manufacturers (OEMs), EV infrastructure firms for charging and battery swapping, and fleets and financiers to make green-powered automobiles both ‘accessible and affordable’.

Electric car maker Tesla’s shares have been on a roll. Already gaining 600 per cent this year through Friday, its share price rally on the back of news that the company would join the S&P 500 has pushed it to become the sixth-largest company in the US, according to a report by Fox Business. Tesla’s market value hit the $555.24 mark to surpass Warren Buffett’s Berkshire Hathaway this week.

Agrochemical manufacturer Heranba Industries has received approval for its draft red herring prospectus (RHP) from the capital market regulator Securities and Exchange Board of India (SEBI) for the initial public offering (IPO). The Rs 700-crore IPO is now slated to open for subscription sometime in December 2020, subject to the approval of RHP by the Registrar of Companies.

Realty major DLF Ltd has sold nearly 90 independent floors worth over ₹300 crore in Gurugram and plans to launch more such projects as demand for premium residential properties has revived in last few months. The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others.

High liquidity and robust interest from investors helped companies raise nearly ₹25,000cr through initial share-sales this year so far and 2021 is expected to be equally strong for the IPO market, experts said. Adding to the depth of the IPO market, companies from diverse sectors like pharma, telecommunication, IT and financial services have made their way to the IPO space during the period.

The combined market valuation of five of top-10 most valued firms declined by ₹91,699 crore last week, with heavyweight Reliance Industries emerging as the worst hit. While RIL, Infosys, HDFC, ICICI Bank and Bharti Airtel suffered losses in their market valuation, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Limited, Kotak Mahindra Bank and Bajaj Finance were the gainers.

Domestic steel major JSW Steel is in the process of acquiring land at Jagatsinghpur in Odisha where it has proposed to set up a 13.2 MTPA greenfield steel plant, a top company official said. Speaking to PTI, JSW Steel Director - Commercial Marketing and Corporate Strategy Jayant Acharya said it is the same site near the port of Paradip where POSCO was keen to set up a 12 MTPA steel plant.

Indiabulls Housing Finance Ltd on Sunday announced that it has raised approximately ₹93 crore by selling a portion of its stake in OakNorth Holdings Ltd. "The sale proceeds will be accretive to the regulatory net worth and the CRAR of the company," it said in a regulatory filing. With the latest stake sale, the company has raised a total of ₹ 2,670 crore as fresh equity in the month of September.

Dr Reddy's Laboratories said it has inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. The company has entered into a definitive agreement with Glenmark to acquire brands Momat Rino, Momat Rino Advance, Momat A, Glenspray and Glenspray Active, along-with rights to the trademarks for the territories mentioned.

In an effort to de-clutter the digital payments ecosystem and augment the use of online payments, Paytm has announced that merchants will now be allowed to receive unlimited payments through its Paytm Wallet at a 0% fee, along with UPI and Rupay Cards. This move will benefit more than 1.7 crore merchants who can enjoy a 0% fee on all their digital payments with direct settlement.