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<ul><li>The 30-share BSE index Sensex surged 366.76 points, and the NSE Nifty jumped 92.35 points at 9:50 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex and Nifty piled on gains in the opening session, taking cues from positive global sentiment. The 30-share BSE index Sensex surged 366.76 points, and the NSE Nifty jumped 92.35 points at 9:50 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Oil </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr></tbody></table>*as of October 6, 9:55 am These are the top stocks in news today. Tata Motors up over 5% The shares of Indian auto giant Tata Motors soared 5% on improved Jaguar Land Rover (JLR) QoQ sales. The company said that the JLR sales improved by nearly 50% during the July-September quarter as against 74,067 units in the last quarter ended June 30. Infibeam Avenues locked in 5% upper circuit The shares of digital payments, e-commerce software company Infibeam Avenues was locked in a 5% upper circuit for the second day in a row. The rally came after Infibeam Avenues entered into a definitive agreement with Jio Platforms and its affiliates to license, customise, maintain and access our Enterprise E-commerce Software and Payments Platform for their business use. Housing Development Finance Corp gains 4% The Housing finance major HDFC Ltd shares were up 4% after the company told investors that its individual loan disbursements reached 95% of the level in the year-ago period, and September saw the strongest recovery since the outbreak of the COVID-19 pandemic, suggesting business is returning to pre-crisis levels. Majesco Ltd locked in 5% upper circuit The shares of Majesco were locked in a 5% upper circuit after the company said its board would consider a proposal for buyback of fully paid-up equity shares on October 8. M&amp;M leaps 3% The shares of automaker Mahindra and Mahindra soared 3% after its recently launched SUV; the All-New Thar crossed 9,000 bookings in just 4 days. The All-New Thar becomes the only SUV in the 4X4 lifestyle category to record this booking milestone in such a short span of time, the company said. Adani Ports up over 3% The shares of Adani Ports gained over 3%, a day after it announced the completion of the acquisition of the Krishnapatnam Port Company (KPCL) for an enterprise value of ₹12,000 crore. APSEZ now owns a controlling stake of 75% in KPCL, a multi-cargo port in southern Andhra Pradesh. SEE ALSO: <a href="https://www.businessinsider.in/india/news/modi-xi-set-to-meet-virtually-for-the-first-time-since-the-india-china-standoff-at-the-brics-annual-summit-next-month/articleshow/78507191.cms" data-type="tilCustomLink">Modi, Xi set to meet 'virtually' for the first time since the India-China standoff at the BRICS annual summit next month</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watchsbi-hdfc-bank-tata-motors-ril-infibeam-britannia-future-consumer-and-others/articleshow/78505634.cms" data-type="tilCustomLink">Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others</a>

Top stock movers — HDFC, Adani Ports, Tata Motors, Infibeam Avenues, Majesco and more

New Delhi, Feb 19 () BSE-listed Infibeam Avenues Ltd on Wednesday said it has forayed into the US, the world's second largest digital payments market by revenue, and will offer its solutions to web and mobile-based small and medium enterprises (SME). Infibeam will offer its vast array of digital payment solutions to web and mobile based SMEs largely operating in the online retail, education, hospitality and travel and tourism industry, apart from other industry verticals under the brand CCAvenue, the company said in a statement. "US market presents a trillion dollar digital payments processing opportunity. As part of our vision to change the way customers trade and transact globally through digitisation of commerce, we are committed to provide the best-in-class online digital payment solutions to merchants and customers in the US," Infibeam MD Vishal Mehta said. He added that to strengthen its position in the region, the company will explore opportunities to partner and collaborate with large financial institutions including selective acquisitions to extend its digital payments solution reach to merchants and customers in the US. "After innovating and dominating the Indian and UAE markets, we are looking forward to launching our advanced real time payment gateway solutions in USA, which is a huge market with over 280 million electronic payment users doing over 450 transactions per capita per year," Infibeam Executive Director Vishwas Patel said. SR SHWSHW

Infibeam Avenues expands digital payments biz to US

New Delhi, Jan 28 () Infibeam Avenues on Tuesday said its consolidated net profit stood at Rs 25.9 crore in the December 2019 quarter.
 The company had reported a net profit of Rs 30.9 crore in the year-ago period, Infibeam Avenues said in a regulatory filing.
 Its income from operations stood at Rs 158.3 crore in the quarter under review as compared with Rs 319.1 crore in corresponding period of 2018-19, it added.
 In the last fiscal, the company decided to focus on the core businesses of digital payments and enterprise software platforms.
 In sync with this strategy, the company had divested its non-core businesses such as online e-commerce marketplace, and technology platform solutions for small and medium enterprises.
 However, the company continues to offer technology platforms to large enterprise clients and governments.
 The revenues in December quarter of 2018-19 include the revenue of non-core businesses which is not reflected in current quarter ending on December 31, 2019, the company said.
"We will continue to invest and build cutting edge technology and innovate in digital software and payments that will improve the way merchants and customers trade and transact through digitisation and democratisation of commerce," Infibeam Avenues Ltd MD Vishal Mehta said.
 Infibeam said it has reported highest-ever digital payment processing volume of Rs 15,900 crore despite intense competition and overall slowdown in the economy.
 There were several regulatory reforms in the digital payments business which resulted in pricing pressures leading to marginal impact on net revenues, it noted.
 However, the volume and mix of transactions processed resulted in higher margins and overall improvement in profitability, it added.
 The company said it now plans to enter into the card issuance business.
 "Last year, we had invested in Go Payments (Instant Global Paytech) for 48 per cent stake in the company. Infibeam will make an additional investment of Rs 7 crore in the business to increase its stake in Go Payments from 48 per cent to 52.38 per cent, subsequently making it a subsidiary," it added.
 Go Payments offers prepaid cards (including meal cards, gift cards and general prepaid cards) to corporates and SMEs. Currently, Go Payments has an active agent network of over 10,000 SMEs for distribution and process payments at a run-rate of over Rs 3,600 crore by offering various financial services. SR RUJ
RUJ

Infibeam Avenues Q3 net profit at Rs 26 cr

<ul><li>In the Asain market, the SGX Nifty was trading 0.36% higher at 7:49 am, indicating a green start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open on a higher note. In the Asain market, the SGX Nifty was trading 0.36% higher at 7:49 am, indicating a green start for Nifty50. The US stocks ended the Tuesday lower as investors cheered the news of President Donald Trump leaving the hospital where he is being treated for COVID-19. The Dow Jones Industrial Average rallied 465.83 points, whereas the S&amp;P 500 gained over 1.80% on Monday. These are the stocks to watch out for during the trading session on October 6: SBI The headhunter for state-owned banks and financial institutions, the Banks Board Bureau (BBB) recommended the names of Swaminathan Janakiraman and Ashwini Kumar Tewari for the posts of managing director at State Bank of India. The country’s largest lender bank is headed by a chairman with four managing directors to assist. Also, the current SBI chairman’s tenure ends on October 7. Watch out for announcements on the change of guard at the helm of SBI as well. The shares of SBI ended 0.45% lower on Monday. HDFC and HDFC Bank The Housing finance major HDFC, in its second-quarter update ending September 30, said that its individual loan disbursements reached 95% of the level in the year-ago period, and September saw the strongest recovery since the outbreak of the COVID-19 pandemic, suggesting business is returning to pre-crisis levels. The individual loan business has continued to see a month-on-month improvement in July-September 2020, the company said in its regulatory filing. The HDFC Bank advances as of September 30 rose 16% YoY to ₹10.4 lakh crore, and the deposits increased 20% to ₹12.3 lakh crore. The shares of HDFC Ltd ended 0.46% lower yesterday, whereas HDFC Bank ended 0.50% higher. Tata Motors Tata Motors-owned subsidiary Jaguar Land Rover (JLR) reported a 12% dip in sales in the second quarter ended September 30. However, the sales improved by nearly 50% during the July-September quarter as against 74,067 units in the April-June period of the current fiscal, the company said in a statement. The shares of Tata Motors ended 0.52% higher yesterday. Britannia Industries Bakery and dairy products major Britannia Industries said its board has approved issuing bonus debentures and payment of dividend to reward its shareholders in such difficult and unprecedented times due to the coronavirus pandemic. The board approved 1 bonus debenture for 1 share held, and payment of ₹12.5/share as dividend. The shares of Britannia Industries ended 0.56% higher yesterday. Deepak Fertilisers and Petrochemicals The wholly-owned arm of Deepak Fertilisers and Petrochemicals, Smartchem Tech, raised ₹105 crore via debentures from international finance corporation. A debenture is a loan that is issued to corporates based on their reputation at a fixed rate of interest. The shares of Deepak Fertilisers and Petrochemicals ended 2.3% lower yesterday. Future Consumer Future Capital Investment, the promoter of Future Consumer, invoked pledge of 18 lakh shares from September 14-16. The shares of Future Consumer ended 4% lower on Monday. Infibeam Avenues and RIL The digital payments, e-commerce software company Infibeam Avenues has entered into a definitive agreement with Jio Platforms and its affiliates. The shares of Infibeam Avenues were locked in 5% upper circuit on Monday. Escorts The automaker Escorts has completed the acquisition of 2 crore equity shares of KAI from KBT, constituting 40% of the share capital of KAI for an aggregate value of ₹90 crore. The shares of Escorts ended 3.32% higher on Monday. Majesco The board of Majesco will consider a proposal for buyback of fully paid-up equity shares on October 8. The shares of Majesco ended 0.15% lower on Monday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tcs-shares-hit-record-high-board-to-mull-over-share-buyback-and-earnings-on-october-7/articleshow/78486980.cms" data-type="tilCustomLink">TCS' value crosses ₹10 trillion after share price rallies more than 7% ahead of earnings</a> <a href="https://www.businessinsider.in/politics/world/news/trump-tweets-that-hes-leaving-the-hospital-and-says-dont-be-afraid-of-covid-a-deadly-virus-thats-killed-over-209000-americans/articleshow/78502663.cms" data-type="tilCustomLink">Trump tweets that he's leaving the hospital and says 'don't be afraid of Covid,' a virus that's killed over 209,000 Americans</a>

Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others

<ul><li>SRBC &amp; CO, an EY affiliated company, is accused of sharing sensitive data over emails and with third parties by Infibeam Avenues. </li><li>Infibeam has its own problems with its stock opening to an 8% dip on Monday after reports of the <keyword id="608402" type="PERSON" weightage="20" keywordseo="data-breach">data breach</keyword> came in over the weekend. </li><li>SRBC &amp; CO is "strongly" denying the allegations while Infibeam is citing "breach of trust" and "loss of faith."</li></ul>A chartered accountancy firm, SRBC &amp; Co — known for being affiliated to Ernst &amp; Young (EY) — is "strongly" denying the allegations of a data breach. But, Infibeam Avenues — a digital company in India that deals with online transactions and e-commerce — is still terminating its contract with the accounting firm, according to stock market filings seen by the <a href="https://www.cnbctv18.com/information-technology/infibeam-fires-auditor-for-sharing-price-sensitive-info-3203941.htm">Press Trust of India.</a> 
 <div type="ExtQuote" text="We strongly deny the allegations against us. We have conducted a comprehensive investigation in the matter and stand by our findings. We are confident of our position and are open to a third party/regulatory inspection in the matter and will respond to the regulators, as required." auname="SRBC &amp; Co Statement"></div>



 Infibeam — a digital company in India that deal with online transaction and e-commerce — informed the Indian stock exchanges that its auditor SRBC &amp; Co, shared unpublished price sensitive information (UPSI) over emails and with third parties not once, but multiple times. And, as the stock markets opened Monday morning, its stock price plummeted by almost 8% to ₹40 per share before recovering. The National Stock Exchange (NSE) and the <keyword id="43628" type="CITY" weightage="20" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> (BSE) — two of India’s biggest stock markets — are yet to act on the issue but Infibeam maintains that there has been a breach of trust and loss of faith. 
 <div type="ExtQuote" text="The board was not convinced with the auditor's explanations, processes and conduct leading to unauthorised sharing of company UPSI. Thus in the interest of the company and with board approval, the auditors were terminated." auname="Infibeam Avenues statement"></div>



 The relationship between Infibeam Avenues and SRBC &amp; Co is dates back to the merger between Avenues India and Infibeam. The accused had raised several alarms over Avenues India’s payment gateway. For one, ₹240 million of the <a href="https://m.dailyhunt.in/news/india/english/entrackr+english-epaper-entrackr/auditor+alarms+concerns+over+advance+payments+to+vendors+and+revenue+filed+by+infibeam+in+q3-newsid-109043718">reported</a> revenue by Infibeam in December 2018 actually belonged in the first and second quarters of the financial year according to the auditors asking Infibeam to clarify its calculation processes. Even in the market, things haven’t been the smoothest for Infibeam, where its stock prices <a href="https://economictimes.indiatimes.com/markets/stocks/news/how-a-whatsapp-note-triggers-crash-in-infibeam-avenue/articleshow/66002863.cms">dipped</a> by 75% in the last financial year. After SRBC &amp; Co’s termination, accounting firm Shah &amp; Taparia will continue on as auditors for the company. The public scrutiny has a detrimental effect on SRBC &amp; Co’s reputation as well as EY in light of IL&amp;FS defaulting on its payments to lenders. EY, along with PwC, <keyword id="6358918" type="COMPANY" weightage="20" keywordseo="deloitte">Deloitte</keyword> and KPMG, have been <a href="https://www.livemint.com/companies/news/govt-likely-to-ban-deloitte-for-five-years-for-alleged-malpractice-in-il-fs-accounts-1556425159041.html">asked to refrain</a> from practicing law until otherwise specified as well as disclose all of their financial details and dealings with IL&amp;FS. In fact, the biggest financial scandal of 2018 may end up costing Deloitte <a href="https://www.businessinsider.in/the-biggest-financial-scandal-of-2018-may-cost-deloitte-five-years-of-business-in-india/articleshow/69090512.cms">five years of business in India.</a> See also: <a href="https://www.businessinsider.in/the-biggest-financial-scandal-of-2018-may-cost-deloitte-five-years-of-business-in-india/articleshow/69090512.cms">The biggest financial scandal of 2018 may cost Deloitte five years of business in India</a> <a href="https://www.businessinsider.in/here-are-the-most-controversial-data-breaches-of-2018-that-affected-indian-users/articleshow/67148364.cms">Here are the most controversial data breaches of 2018 that affected Indian users</a> <a href="https://www.businessinsider.in/sbi-data-breach-leaves-millions-of-users-data-exposed/articleshow/67767832.cms">India’s largest bank leaves the data of millions of users exposed</a>

Indian e-commerce firm Infibeam fires its auditor for alleged data breach — stock tanks as much as 8%

A Delhi court on Wednesday discharged senior Congress leader Shashi Tharoor in a case related to his wife <keyword id="138503" type="PERSON" weightage="20" keywordseo="Sunanda-Pushkar">Sunanda Pushkar</keyword>'s death in a luxury hotel here. Special Judge Geetanjali Goel passed the order in a virtual hearing. Tharoor thanked the judge, and said it was "an absolute torture for last seven-and-a-half-years" and that it was a "great relief". During the arguments, while police had sought framing of various charges, including 306 (abetment of suicide), senior advocate Vikas Pahwa, appearing for Tharoor, told the court that the investigation conducted by the SIT completely exonerated the politician of all the charges levelled against him. Pushkar was found dead in a suite of a luxury hotel in the city on the night of January 17, 2014. The couple was staying in the hotel as the official bungalow of Tharoor was being renovated at that time. Tharoor was charged under sections 498A (husband or relative of husband of a woman subjecting her to cruelty) and 306 of the Indian Penal Code by the Delhi Police, but was not arrested in the case. He was granted bail on July 5, 2018. SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a> <a href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a>

Sunanda Pushkar death case: Congress MP Shashi Tharoor says it is a "great relief" after a special court lets him off

<ul><li>The <keyword id="1783182" type="PERSON" weightage="20" keywordseo="NUE">NUE</keyword> licence would enable the entity to hold pan-India control in payments, rivalling the likes of the government backed National Payments Corporation of India.</li><li>Reliance has reportedly signed up with Google and Facebook to set up a ‘new umbrella entity’ (NUE), which will be promoted by RIL and Infibeam Avenues’ So Hum Bharat.</li><li><keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword>, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> and Paytm too have formed their own consortiums to apply for the licence.</li></ul>When <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> signed up for a $5.7 billion cheque from Mark Zuckerberg in April, 2020, he made a promise to the Facebook founder to help boost their payments innovations in India. While WhatsApp pay is yet to take off, one year later, it seems Ambani is delivering on that promise through another route which can only be bigger. Reliance has <a href="https://economictimes.indiatimes.com/tech/tech-bytes/reliance-partners-google-facebook-in-seeking-nue-licence-from-rbi/articleshow/81237979.cms">reportedly </a>signed up with Google and Facebook to set up a ‘new umbrella entity’ (NUE), which will be promoted by RIL and Infibeam Avenues’ So Hum Bharat. Infibeam Avenues’ currently runs the payments gateway CCAvenue. India’s central bank had floated the bid for NUE licences in August, 2020. The NUE licence would enable the entity to hold pan-India control in payments, rivalling the likes of the government backed National Payments Corporation of India. NPCI is an initiative backed by the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) which acts as an umbrella entity that operates retail payments and settlements. The NUE licence would give the companies the opportunity to set up, manage and operate “ATMs, White Label PoS; Aadhaar based payments and remittance services; develop new payment methods, standards and technologies; monitor related issues in the country and internationally; take care of developmental objectives like enhancement of awareness about the payment systems,” according to the RBI guidelines. The RBI, which had initially set a deadline of February 26, 2021 for the application of the licences, recently extended it until March 31, 2021. According to <a href="https://economictimes.indiatimes.com/tech/tech-bytes/reliance-partners-google-facebook-in-seeking-nue-licence-from-rbi/articleshow/81237979.cms?from=mdr">reports</a>, RBI is initially going to give out only two NUE licences. Competition is high A stake in the control over India’s burgeoning digital payments market, which sees over 93 million transactions worth $12 billion daily, as per a report by HDFC Securities from December, 2020, is an opportunity that Reliance isn’t the only one vying for. <div type="image" title="payments transaction." msid="81268420" hostid="261"></div> The 152-year old conglomerate Tata Group, which is looking to build its own Super App spread across retail and payments, has <a href="https://economictimes.indiatimes.com/tech/tech-bytes/tata-group-takes-over-sbi-bid-for-nue-licence-from-rbi/articleshow/81237978.cms">reportedly</a> taken over the bid initially expressed by State Bank of India and Bank of Baroda. The Tatas are bidding through their subsidiary company Ferbine Private Limited, in which HDFC Bank and Kotak Mahindra Bank had already picked up a 9.99% stake each. The deal is also backed by Mastercard, PayU and Reliance’s telecom competitor Bharti Airtel. In an exchange filing declaring its stake in Tata-owned Ferbine, Kotak Mahindra Bank had said, “The main business of the company would be to operating a pan-India umbrella entity for retail payment systems, as would be allowed/licenced by RBI, subject to the approval of the NUE application.” <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>’ e-commerce firm Amazon, which has been bullish about the Indian payments sector and rolled out its own product Amazon Pay, <a href="https://economictimes.indiatimes.com/tech/tech-bytes/amazon-icici-bank-axis-bank-ready-with-nue-plan-to-rival-npci-upi/articleshow/81181363.cms">has partnered</a> with ICICI Bank, Axis Bank and others for the NUE licence. Meanwhile, India’s digital payments poster boy Vijay Shekhar Sharma too isn’t one to miss out on the opportunity. Paytm too has<a href="https://economictimes.indiatimes.com/tech/technology/paytm-ola-and-indusind-bank-team-up-to-apply-for-nue-license/articleshow/81217427.cms"> reportedly</a> partnered with Induslnd Bank, Ola Financial and others to bid for the licence. The partnerships have sprung up as the RBI mandates that ‘no single promoter/promoter group shall have more than 40% investment in the capital of the NUE’. The latest developments in the payments sector with the Tata Group, Reliance and Amazon is just the latest in the rivalry between the three companies, who are already competing in the Indian retail sector. The Tata Group is eyeing a 68% stake in Indian grocery e-retail startup BigBasket. The Indian e-grocery sector is heating up with the world’s richest man Jeff Bezos betting on it with Amazon Pantry, India’s richest man Mukesh Ambani upping the game with JioMart. SEE ALSO: <a href="https://www.businessinsider.in/business/news/elon-musk-and-reliance-industries-mukesh-ambani-compete-in-energy-storage-skytran-and-hyperloop/articleshow/81266903.cms">Elon Musk is facing a challenge from Asia’s richest man Mukesh Ambani in India⁠— both in energy and transportation</a>

EXPLAINED: The NUE licence for payments that Tata, Ambani and Bezos have applied for

Debt-ridden private telecom company <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword> on Saturday posted a lower consolidated loss of Rs 7,319 crore for the first quarter ended on June 30, 2021, against Rs 25,460 crore loss in the same quarter a year ago. The consolidated revenue from operations of Vodafone Idea (<keyword id="634808" type="ORGANIZATION" weightage="20" keywordseo="VIL">VIL</keyword>) declined by about 14 per cent to Rs 9,152.3 crore during the reported quarter from Rs 10,659.3 crore in the corresponding quarter of 2020-21. The total gross debt (excluding lease liabilities and including interest accrued but not due) as of June 30, 2021 of VIL stood at Rs 1,91,590 crore, comprising of deferred spectrum payment obligations of Rs 1,06,010 crore and adjusted gross revenue (AGR) liability of Rs 62,180 crore that are due to the government. Cash and cash equivalents of the company at the end of reported were Rs 920 crore and net debt stood at Rs 1,90,670 crore. "We continue to focus on executing our strategy to keep our customers ahead, and our cost optimization plan remains on track to deliver the targeted savings. We are in active discussion with potential investors for fund raising, to achieve our strategic intent," VIL MD and CEO Ravinder Takkar said in a statement. SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a> <a href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a>

Vodafone Idea says it is in 'active' discussions with prospective investors to raise funds as revenue falls 14%

Smartphone brand <keyword id="6485927" type="ORGANIZATION" weightage="20" keywordseo="realme">realme</keyword>, which is likely to launch its first laptop in <keyword id="495988" type="PERSON" weightage="20" keywordseo="India-and-Europe">India and Europe</keyword>, might unveil the laptop under Rs 55,000 in India. The laptop is expected to run on the latest Windows and will feature a 3:2 screen ratio with 2K (2160 x 1440 pixels) resolution. The display will have thin bezels and will be quite slim. It is also confirmed to have a 100 per cent sRGB color gamut, reports <keyword id="11866694" type="UNKNOWN" weightage="20" keywordseo="gizmo-china-">Gizmo China.</keyword> The laptop will have a 54Wh battery and support for 65W fast charging. It has a USB Type-C port, a USB 3.2 Gen 1 port, and a 3.5mm headphone jack. Earlier, it was confirmed that the <keyword id="11823093" type="UNKNOWN" weightage="20" keywordseo="Realme-Book-Slim">Realme Book Slim</keyword> will come powered by Intel's 11th generation processor. Now, the teaser confirms that it will be an i5 CPU, the report said. Realme recently shared a poster that flaunted an important feature of the laptop. The Realme Book Slim will come with Realme's PC Connect feature which will let users mirror their Realme phone's screen on the laptop. Apart from this, the Realme Book Slim laptop is expected to have a 14-inch display panel with 300 nits of peak brightness. It is touted to come with up to 16GB RAM and 512GB of SSD storage. It is also expected to offer added security with its fingerprint scanner support. SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a> <a href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a>

The upcoming Realme Book Slim will be priced below ₹50,000: Report

Google said it is expanding meeting moderation controls in its video chat app Meet with several highly-requested features "You'll now be able to assign up to <keyword id="11850132" type="UNKNOWN" weightage="20" keywordseo="25-co-hosts">25 co-hosts</keyword> per meeting, allowing them to access and utilise the <keyword id="11850131" type="UNKNOWN" weightage="20" keywordseo="host-controls">host controls</keyword>," the company said in an update. "Use the ‘Quick access' setting to easily control who needs to request permission to join a meeting," it added. Previously, these safety features were only available to <keyword id="11843546" type="UNKNOWN" weightage="20" keywordseo="google-workspace-for-education">Google Workspace for Education</keyword> customers. These controls will now be available for all <keyword id="4237083" type="PERSON" weightage="20" keywordseo="google-meet">Google Meet</keyword> users on the desktop and mobile. "Additionally, delegated co-hosts can handle responsibilities such as muting participants, launching polls and managing Q&amp;As, giving you more time to focus on leading discussions and guiding attendees through presentations," said Google. When enabled, hosts can now limit who can share their screen, limit who can send chat messages, mute all with one click and end the meeting for all, For applicable <keyword id="4123532" type="PERSON" weightage="20" keywordseo="Google-WorkSpace">Google Workspace</keyword> editions, Meeting hosts can share hosting privileges with other meeting participants — up to 25 per meeting — by granting them host controls in the People panel. The quick access control will be on by default. When quick access is enabled, meeting participants from your domain can automatically join the meeting from a mobile or desktop device, and by dialing in, informed Google. For admins, in the coming weeks, Google will introduce a setting that controls whether the <keyword id="11850133" type="UNKNOWN" weightage="20" keywordseo="host-management">Host Management</keyword> settings will be on or off by default. SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a> <a href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a>

Google Meet now allows users to add up to 25 co-hosts

A week after temporarily suspending his account, <keyword id="6354616" type="UNKNOWN" weightage="20" keywordseo="Twitter">Twitter</keyword> restored <keyword id="48496" type="POSITION" weightage="20" keywordseo="Congress-leader">Congress leader</keyword> <keyword id="5268" type="PERSON" weightage="20" keywordseo="Rahul-Gandhi">Rahul Gandhi</keyword>'s handle Saturday, but not before the principal opposition party accused it of bias. Gandhi's account was temporarily suspended last week after he tweeted pictures of the family of a nine-year-old victim of alleged rape and murder in Northwest Delhi. Twitter deemed it violation of its rules. Sources said the Twitter accounts of some of the party leaders who had shared the same pictures have also been restored. "Rahul Gandhi's Twitter account has been unlocked," a party functionary said, adding the accounts of some of the leaders have also been restored. The former <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> chief had made a strong outburst on Friday accusing Twitter of "interfering in the national political process" and said shutting down of his handle amounted to an "attack on the country's democratic structure". Gandhi, in a YouTube video statement titled "Twitter's dangerous game", alleged that it was not a neutral and objective platform and was "beholden to the government". Questioning Twitter's action, Gandhi had said the company was denying millions of his followers the right to an opinion, which was unfair. "It's obvious now that Twitter is actually not a neutral, objective platform. It is a biased platform. It's something that listens to what the government of the day says," Gandhi had alleged. In the wake of the friction with the Congress, Twitter has transferred its India head Manish Maheshwari, against whom an FIR was registered in Uttar Pradesh in connection with a probe related to a video of an alleged hate crime, to the US. While the company did not specify any reason for the change, it said Maheshwari will move to the US as Senior Director (Revenue Strategy and Operations) and focus on new markets in his new role SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a> <a href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a>

Twitter restores Congress leader Rahul Gandhi's account

<keyword id="5268" type="PERSON" weightage="20" keywordseo="Rahul-Gandhi">Rahul Gandhi</keyword> on Friday released a video statement slamming <keyword id="6354616" type="UNKNOWN" weightage="20" keywordseo="Twitter">Twitter</keyword> for blocking his account and alleged that Twitter was taking sides in the politics of the country. Rahul in the video statement said, "By shutting down my Twitter they are interfering in our political process "A company is making its business to define our politics. And as a politician I don't like that. This is an attack on the democratic structure of the country. This is not an attack on Rahul Gandhi." He said that he has 19-20 million followers and they have been denied the right to an opinion. "So, this is not only patently unfair, this is their breaching the idea that Twitter is a neutral platform. And for the investors this is a very dangerous thing because taking sides in the political contest has repercussions for Twitter," he added. Rahul Gandhi alleged that the democracy is under attack, opposition was not being allowed to speak in <keyword id="6354721" type="ORGANIZATION" weightage="20" keywordseo="parliament">Parliament</keyword>. The media is controlled. "And I thought there was a ray of light where we could put what we thought on Twitter. But obviously, that's not the case. It's obvious now that Twitter is actually not a neutral, objective platform. It is a biased platform. It's something that listens to what the government of the day says," he added, "As Indians, we have to ask the question: Are we going to allow companies just because they are beholden to the <keyword id="6377129" type="UNKNOWN" weightage="20" keywordseo="government-of-india">Government of India</keyword> to define our politics for us? Is that what this is going to come to? Or are we going to define our politics on our own? That's the real question here." Rahul Gandhi said. Twitter has blocked accounts of Rahul Gandhi and many Congress leaders for violating their policy. The Congress has alleged that it was being done on the behest of the government. SEE ALSO <a href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a> <a href="https://www.businessinsider.in/tech/news/windows-11-microsoft-rolling-out-updated-snipping-tool-calculator-and-mail-apps/articleshow/85292943.cms">Windows 11 Microsoft rolling out updated snipping tool, calculator and mail apps</a> <a href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a>

Rahul Gandhi says Twitter is a 'biased platform' after his account gets blocked

<ul><li>Upcoming <keyword id="7922409" type="UNKNOWN" weightage="20" keywordseo="LIC-IPO">LIC IPO</keyword> may be split into two offerings as the government believes the market may not have the capacity to absorb the large issue in one go.</li><li>The government is reportedly planning to mobilise ₹1 lakh crore through the public issue.</li><li><keyword id="6367143" type="UNKNOWN" weightage="20" keywordseo="LIC">LIC</keyword> IPO will be the country’s biggest in history.</li></ul>The government may split the Life Insurance Corporation of India’s (LIC) initial public offering (IPO) into two parts with a gap of a few months as it believes the market may not have the capacity to absorb such a massive offering, as per a media report. Life insurance giant LIC is looking to raise ₹1 lakh crore through the public issue, said a <a href="https://timesofindia.indiatimes.com/business/india-business/in-a-1st-lic-looks-to-split-mega-ipo-into-2-offerings/articleshow/85286974.cms">report</a> by The Times of India, quoting sources it did not name. While this will be the largest public offering the country has ever seen, it will also be the first ever IPO to open in two parts. Officials involved in the IPO process believe that with so many offers already closed and several others in the pipeline till the LIC offer comes to the market, a large amount of investors’ funds will already be absorbed, said the report. Also, the IPO is seen to have cornerstone investors, marquee asset managers who could put in large funds ahead of the IPO. Usually, government-owned companies don’t opt for any type of share placement with investors before an offer. The term cornerstone investors is generally understood to refer to that class of investors who commit in advance to invest a fixed amount of money, or for a fixed number of shares, in an IPO. In this year’s union budget, Finance Minister Nirmala Sitharaman had said that the LIC IPO would be completed this fiscal (FY22). So far 41 IPOs have already been listed on the BSE in 2021. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infibeam-avenues-is-looking-to-acquire-a-point-of-sale-company/articleshow/85292156.cms">INTERVIEW: Infibeam Avenues is looking to acquire a point-of-sale company</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-ipo-former-one-97-communication-director-urges-sebi-to-stall-the-public-issue/articleshow/85293132.cms">Paytm IPO: Former One 97 Communication director urges SEBI to stall the public issue</a>

You Searched For "infibeam avenues" and got 13 results

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EXPLAINED: The NUE licence for payments that Tata, Ambani and Bezos have applied for

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Vodafone Idea says it is in 'active' discussions with prospective investors to raise funds as revenue falls 14%

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The upcoming Realme Book Slim will be priced below ₹50,000: Report

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LIC’s mammoth IPO may happen in two parts, as government reportedly believes market may not have the capacity to absorb it in one go

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