The Reserve Bank of India on November 12 said it will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for an aggregate amount of Rs 10,000 crore each on November 19. The decision was taken after a review of the current liquidity and financial conditions, the RBI said in a statement.

PhonePe has announced FASTag, the RFID-based system used to make payments at tolls, has crossed 1 million users with over 7 million transactions on its platform. FASTag transactions, which were down during the lockdown due to travel restrictions, have since grown 280% relative to January 2020, the leading digital payment platform said.

Housing and Urban Development Corporation Ltd (HUDCO) on November 12 reported a 37 percent fall in its consolidated net profit at Rs 457.25 crore for the quarter ended September. Its net profit stood at Rs 725.78 crore in the year-ago period. Total income stood at Rs 1,865.50 crore in the second quarter of the fiscal as against Rs 2,053.79 crore in the corresponding period of the previous year.

Infibeam Avenues on November 12 reported a 34.5 percent decline in net profit at Rs 8 crore for the three months ended September. The company has also decided to invest in So Hum Bharat Digital Payments to apply to the RBI for a New Umbrella Entity (NUE) license for retail payment systems. It had posted a net profit (excluding share of associates) at Rs 12.22 crore in the year-ago period.

Fortis Healthcare on November 12 reported an 87.52% decline in its consolidated net profit to Rs 15.47 crore for the quarter ended September. The company had posted a net profit of Rs 124.04 crore for the corresponding period of the previous fiscal, Fortis Healthcare said in a filing to BSE. Consolidated revenue from the operations stood at Rs 994.70 crore for the quarter under consideration.

PUBG Corporation on Thursday announced that it will launch PUBG Mobile India, a new game created specifically for the Indian market. The South Korea-based firm said it will set up an Indian subsidiary and invest $100 million in the country to “cultivate the local video game, esports, entertainment and IT industries”

Reliance Industries Limited on Thursday announced that it is going to make a contribution of up to $50 million in Breakthrough Energy Ventures. The investment constitutes 5.75% of the size of the fund contemplated at present, the Mukesh Ambani-led company said in a regulatory filing. "The said investment will be made in tranches over the next 8-10 years," it added.

Ace investor Rakesh Jhunjhunwala-owned Rare Enterprises on November 12 picked up 1.1 percent equity stake in Indiabulls Real Estate via open market transaction. Rare Enterprises has acquired 50 lakh equity shares in the Indiabulls Group-owned real estate firm (representing 1.1 percent of the total paid-up equity shares) at Rs 57.73 per share, the bulk deals data available on the NSE showed.

Value fashion and lifestyle products retailer V-Mart Retail has reported widening of its net loss to Rs 18.96 crore for the September quarter. The company had posted a net loss of Rs 18.04 crore in the July-September period of the previous fiscal, V-Mart said in a regulatory filing. Total income dropped 39.58 percent to Rs 190.52 crore during the period under review.

State-owned Engineers India Ltd (EIL) will buy back nearly 7 crore shares for about Rs 587 crore as the government taps cash-rich PSUs to meet its revenue targets. In a filing to the stock exchanges, EIL said it will buy back 11.06 percent of the fully paid-up equity shares at a price of Rs 84 apiece. The price is nearly 19 percent premium to Thursday's closing price of Rs 70.70 for EIL shares.

Information technology major Infosys could overtake Tata Consulting Services (TCS) in growth for the second year in a row in financial year 2021, Emkay research said Thursday. Infosys has said that it is looking to grow on “four pillars” in the coming years. Infosys is likely to outgrow TCS for the second year in a row in FY21 while narrowing margin differential.

SEBI is likely to rebuff Amazon and decline to become embroiled in the American company's dispute with Future group over the sale of the latter's assets to Reliance Retail, people aware of the development tell Moneycontrol. Future Retail Easy Day and Nilgris chain of supermarkets, has moved the Delhi High Court seeking to stop Amazon from interfering with the sale of its assets to Reliance.

Mortgage lender HDFC Ltd on Thursday said insurance regulator Irdai has given the final nod for merger of HDFC ERGO Health Insurance with HDFC ERGO General Insurance. In late September, the National Company Law Tribunal, Mumbai had okayed the scheme of amalgamation between HDFC ERGO Health Insurance (formerly Apollo Munich Health Insurance Co Ltd) & HDFC ERGO General Insurance Co Ltd (HDFC ERGO).

Aditya Birla Group firm Grasim Industries on Thursday said its board has approved the divestment of its fertilizer business for Rs 2,649 crore. After market hours, the company said its board approved the sale of Indo Gulf Fertilisers by way of a slump sale to Indorama India Private, a subsidiary of Singapore based -Indorama Corporation.

Power Finance Corp reported 16.93% growth in Sep-20 quarter top line revenues at Rs18,158cr. The performance in the Jun-20 quarter did not really get impacted as the business of power funding is largely non-cyclical in nature. For the Sep-20 quarter, the operating profits were up 46% at Rs5284cr. The sharp spike in operating profit was due to higher revenues absorbing fixed costs better.