Grasim Industries' stock climbed a 52-week high of Rs 1,094.80 on January 25 after the company entered paints business. The company board at its meeting held on January 22 approved entering in paints as a new line of business and subject to the approval of the shareholders. It will help the company add size, scale and diversity its existing business portfolio.

UCO Bank on Monday announced a net profit of Rs 35.44 crore for the Q3 2020, due to lower provisioning for bad loans. The Kolkata-based bank had reported a net loss of Rs 960.17 crore during the October-December period of the previous fiscal year. Total income, however, fell marginally to Rs 4,466.97 crore in the Q3 of the current fiscal.

The Stove Kraft IPO has been subscribed 49% on January 25, the first day of bidding. The issue received bids for 28.54 lakh equity shares against offer size of 58.94 lakh shares. The offer size has been reduced after the company raised Rs 185 crore from anchor investors last Friday, a day before the issue opening. The IPO reservation for retail in Stove Kraft is only 10% against 35%.

United Spirits Ltd on Saturday entered into a definitive agreement to sell its entire shareholding in its non-operative subsidiary– Tern Distilleries Private Ltd for Rs 30 crore. The company wants to monetise its non-core assets. Upon completion of the agreement of sale, Tern Distilleries will cease to be a subsidiary of the company.

KIKO TV has bagged an undisclosed amount in its Pre-Series A funding round led by the US venture capital fund SOSV. The startup will be shortly graduating from SOSV's Mobile Only Accelerator (MOX) programme. Recently the start-up also raised their seed round from 9Unicorns. The funding will be used to accelerate the product roadmap and increase adoption.

Reliance Jio is in advanced talks with original equipment manufacturer (OEMs) and tech companies to launch its internet of things (IoT) services business in India. It has partnered with South Korean brand Samsung to create a pan-India narrowband IoT-technology-based network. Reliance has also started advance tests to prepare the 5G and high-speed network.

Yes Bank's board has approved a fundraising plan to the tune of Rs10,000cr in one or more tranches. The board decided it while announcing (Q3FY21) result. The private lender now seeks shareholders’ approval (by way of a special resolution) about the raising of funds through a postal ballot. In its Q3FY21, Yes Bank recorded a net profit of Rs151cr compared to net losses of Rs18,560cr a year ago.

Godrej Housing Finance is eyeing to raise 500-1,500 crore in 2021-22 to meet its expansion plans. It wants to start the first round of fundraising in the quarter starting April. The mortgage lender is looking at a mix of bank, non-convertible debentures and short-term commercial paper (CP) borrowing. It plans to have only 10-20 per cent of short-term CP money in its total funding mix.

HDFC Life Insurance Company Limited announced a Profit After Tax (PAT) of Rs 1,042 cr, with the growth of 6% compared Rs984cr for the nine months ended December 31, 2020. Net worth in 9MFY21 was at Rs8,089cr, an increase of 21% YoY compared to Rs6.670cr in 9MFY20. Total Premium in 9MFY21 was at Rs25.673cr, a 16% rise compared to Rs22.092cr in 9MFY20.

JSW Steel witnessed an increased demand for value-added products and special steel rise in the Oct-Decquarter as industrial component manufacturers want to decrease their dependence on Chinese imports. Demand for specialised product grades from auto component manufacturers, bearings and forging industry-led JSW to approve 18 new product and grade categories.

RIL's telecom arm Reliance Jio's (RJio) financial performance for the Q3FY21 revealed that the company's consolidated Net Profit stood at Rs3,489cr, increasing by 15.5% over the previous quarter. RJio is a leading telecom player with largest market share competing against Bharti Airtel and Vodafone Idea. ARPU during the quarter of Rs151.0 per subscriber per month.

The government might shelve the merger of state-run telecom players BSNL and MTNL after a group of ministers (GoM) said it would be neither feasible nor beneficial. The Union Cabinet might meet soon and formally decide on the merger of Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL). The Department of Telecommunications (DoT) is also in favour of scrapping the merger.

The RBI has extended nearly Rs 7,000 crore in special liquidity assistance to DBS Bank India to meet its short-term funding needs after the acquisition of the Lakshmi Vilas Bank (LVB). The funds will be used to manage the mismatch arising out of LVB's assets and liabilities. The short-term fundraising may be charged with interest rates close to or linked to the repo rate.

Electric-vehicle sales should overtake gas engine automobiles in India by the end of the decade as prices become more aligned and infrastructure and technology improve, opined Mahindra & Mahindra. While authorities can assist in terms of cost parity for EVs, in India "it is difficult for the government to justify subsidizing cars for the rich," Mahindra Deputy MD Anish Shah said.

RIL announced a consolidated net profit of Rs14,894cr for the Q3 2020 (Q3FY21), increasing by 25.78% from Rs 11,841cr a year ago same period. Q3 profit after tax (PAT) rose by over 40% from Rs10,602cr of the previous quarter. This PAT is after exceptional items. Consolidated Q3 PAT for owners stood at Rs13,101cr up 12.5% against Rs11,640cr in the corresponding period of the previous year.