In a major action against Paytm Payments Bank (PPBL), owned by One97 Communications, the Reserve Bank on Wednesday directed the lender to stop accepting deposits or top-ups in in customer accounts, wallets, FASTTags and other instruments after February 29. However, any interest, cashbacks, or refunds may be credited back to customers anytime. The direction follows persistent non-compliances and continued material supervisory concerns, the central bank said in a statement.

Infosys announced that it has signed a seven-year strategic collaboration with Musgrave, Ireland’s leading food retail, wholesale and foodservice company. As part of this collaboration, Infosys will help automate Musgrave’s IT operations by leveraging its industry leading AI and Cloud offerings, Infosys Topaz, an AI-first set of services, solutions and platforms using generative AI technologies, and Infosys Cobalt, a set of services, solutions and platforms for enterprises to accelerate their cloud journey.

Focus will be on automobile companies such as Tata Motors, Maruti Suzuki, Escorts, Eicher Motors, Ashok Leyland, Bajaj Auto, Hero MotoCorp, TVS Motors and Mahindra & Mahindra and others, as they will announce sales figures for January from today. Analysts expect the momentum to contiune despite price hike.

India promoter Burman family on Wednesday bought a 3.6 per cent stake in diversified financial services group Religare Enterprises for Rs 277 crore through open market transactions. The three entities -- Puran Associates, Vic Enterprises and M B Finmart -- of the Burman family acquired the shares of Religare Enterprises on the National Stock Exchange (NSE). Puran Associates is owned by Anand Burman and Minnie Burman, while V C Burman owns Vic Enterprises. M B Finmart is owned by Mohit Burman.

Deepak Chem Tech Ltd (formerty Deepak Ctean Tech Limited), a whotty owned subsidiary of Deepak Nitrite had expressed its intention to invest around ₹9,000 crore. Deepak Chem now signed a Memorandum of Understanding with the Gujarat Government with an intent to invest around ₹9,000 crores to establish projects at Dahej to manufacture Polycarbonate resins and comoounds Methyl methacrytate and Poty Methyl methacrytate and Resins and Compounds and Aniline.

HG Infra Engineering has been declared as L-l bidder by South Central Railway for doubling of track between Karanjgaon station and Aurangabad station . The project cost is ₹447.11 crore and construction period is 30 months.

Gujarat Gas has signed Memorandum of Understanding with Hindustan Petroleum Corporation for mutual benefit of each other. HPCL will provide Liquid Fuels automotive lubricants, greases and specialties at the GGL outlets while Gujarat Gas willset up CNG Facility at HPCL COCO/COMCO Outlets and CNG Mother Facility at HPCL Outlets.

The Board of Directors of Federal-Mogul Goetze (India) has approved resignation of Vinod Kumar Hans, as Whole-time Managing Director and appointment of T. Kannan as an Additional Director and Managing Director of the Company, for a period of 3 years, effective February 1, 2024.

Market buzz is Canada Pension Plan Investment Board and PE investor KKR are likely to sell shares worth ₹3800 crore in Indus Towers via block deal. The stake sale is likely to happen at a discount of about 8 per cent of current prevailing market price. The stock on Wednesday closed at ₹229.90.

Results Calendar: Aavas Financiers, Abbott India, ABC Capital, Abhijit Trading, Adani Enterprises, Adani Ports & SEZ, Ador Multi Products, Ador Welding, Allied Digital, Aether, Aptus Value Housing, Artefact, Arvind Smartspaces, Allcargo Terminals, Bata India, Bayer Cropscience, Bengal Steels, Bharat Seats, Castrol, City Union Bank, Dr Lal Path Labs, Deepak Fertilizers, eClerx, FGP, Five Star Business Finance, GCCL Constructions, GMM Pfaudler, Godrej Agrovet, Gokal Exports, Goodluck, Greenply Industries, HFCL, Howard Hotels, Incredible Industries, India Cements Capital, India Cements, Indus Finance, India Cements, Jupiter Wagons, Jyothi, Kesar Terminals, Minda Corp, Mphasis Lab, Mukta Agriculture, Orbit Exports, Orient Electric, Praj Industries, Pricol, Prism Johnson, Radhe Developers, Raymond, RITES, Rolex Rings, RPG Life Sciences, Shivkamal, SJS, Somany Ceramics, Sonata Software, Spencers, Sterling Tools, Sumeet Industries, Sumitomo Chem, TD Power Systems, Texmaco Rail Engineering, Thangamayil, Thyrocare, Tube Investments, Timex Group, Titan Company, TNPL, UFO Moviez, V-Guard Industries, VST TIllers, Walchangnagar and Welspun Enterprises, 

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