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Razorpay lines up four banks for $700mn+ IPO plan

Bengaluru-based payments firm Razorpay has appointed four leading investment banks, Axis Capital, Kotak Mahindra Capital, JPMorgan, and Citi, to manage its upcoming IPO.

The company plans to raise over $700 million through a mix of fresh issue and share sale by existing investors. Founded in 2014, Razorpay is backed by Tiger Global, GIC, and Peak XV, and is valued at around $9.2 billion.

The fintech generated revenue of nearly ₹3,900 crore in the fiscal year ending March 2025, marking its push toward a high-profile public listing.

 

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Madras HC upholds ‘Big Bite’ trademark for Ravi Foods

The Madras High Court has upheld Hyderabad-based Ravi Foods’ trademark for “Big Bite”, rejecting appeals by US retailer 7‑Eleven.

The dispute, lasting over a decade, involved Class 30 food products, including chocolates and snacks. Ravi Foods has used the brand in India since 2004, building strong goodwill and consumer recognition. 7‑Eleven argued its international use since 1988 gave it rights, but the court ruled global reputation alone doesn’t secure Indian trademark rights without actual local presence or sales.

The judgment reinforces that trademark protection in India is based on use and recognition within the country, not just international status.

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Indian GCCs cut 6,000 jobs in 2025 amid global pressures

In 2025, India’s Global Capability Centres (GCCs) reduced around 6,000 jobs due to global economic pressures, restructuring, and efficiency drives.

Major cuts came from Technicolor (~3,000 jobs) and others including Ford’s AUMOVIO and Fidelity. Despite this, the sector continued to grow, with 101 new GCCs launched and net employment rising by 135,000–150,000, reflecting strong demand for tech, AI, and cloud talent.

Experts say the layoffs indicate a shift toward high-value roles rather than a sector slowdown, highlighting transformation within India’s GCC ecosystem.

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ONGC posts 16% rise in standalone Q3 profit

Oil and Natural Gas Corporation (ONGC) reported a 16% year-on-year rise in its standalone net profit for the October–December quarter.

The company posted a profit of ₹8,372 crore compared to the same period last year. However, revenue from operations saw a slight decline due to softer crude prices. ONGC’s consolidated net profit rose sharply, supported by improved performance from subsidiaries.

The board also announced a second interim dividend of ₹6.25 per equity share, with February 18 set as the record date. Stable crude production and better gas realisations helped the company maintain strong financial performance during the quarter.

 

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Zomato founder flooded with 8,000 emails

Zomato founder Deepinder Goyal said he received over 8,000 emails after reaching out to former employees via a dedicated email.

About half were from past staff, the rest from hopeful new joiners, many sharing personal stories.

Calling the responses “full of emotions and honesty,” Goyal said it’s hard to reply to all quickly and suggested those who know him well to contact him via WhatsApp for faster responses.

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Ravi Nair jailed in Adani defamation case

Independent journalist Ravi Nair has been sentenced to one year in jail and fined ₹5,000 by a magistrate court in Gandhinagar, Gujarat, in a defamation case filed by Adani Enterprises.

The case revolves around tweets and posts from 2020–21 that the court said harmed the company’s reputation. Nair’s lawyers maintained that his posts were meant as public-interest criticism.

The verdict has sparked wider conversations about press freedom and responsible reporting in India, highlighting the delicate balance between free speech and legal boundaries in the digital age.

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Strong Q3 drives M&M profit to ₹4,675 cr

Mahindra & Mahindra (M&M) reported a strong performance in the third quarter, with consolidated net profit rising 47% year-on-year to ₹4,675 crore. The company’s revenue grew 26% to over ₹52,000 crore, supported by solid demand across its automotive and farm equipment businesses.

SUV sales remained a key growth driver, helping the auto segment record healthy volume gains. Tractor sales also showed steady improvement. The company’s services businesses, including financial services, contributed to overall growth.

Improved operating margins and strong market demand helped boost profitability, reflecting M&M’s continued momentum across its core business segments.

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L&T wins ₹2,500 crore Dubai road project

Larsen & Toubro (L&T) has won a significant road development contract in Dubai, valued between ₹1,000 crore and ₹2,500 crore.

The project covers Phase‑1 of Latifa Bint Hamdan Street, including widening the existing road into four lanes in each direction and constructing a major interchange at Sheikh Mohammed Bin Zayed Road (E311).

L&T will also build extended carriageways and improve connectivity for U-turns and local access. The project is slated for completion within 36 months, strengthening L&T’s presence in the UAE infrastructure sector.

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Eternal shares soar 7% on heavy trading

Eternal Ltd’s stock jumped 7 % on Tuesday, with unusually high trading volumes of around 9.9 crore shares on the NSE. The rally followed strong third-quarter results, with net profit rising 73 % to ₹102 crore and revenue more than tripling year-on-year.

Market activity was also supported by a large block deal worth roughly ₹344 crore. Recent company developments, including a change in CEO and the closure of a subsidiary, have kept investors’ attention on the stock.

Over the past month, Eternal shares have gained around 6.6 %, reflecting growing confidence in the company’s growth trajectory.

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Uttar Pradesh eyes $1 trillion economy

Uttar Pradesh presented its first Economic Survey, targeting a $1 trillion economy. The GSDP grew from ₹13.3 lakh crore in 2016‑17 to ₹30.25 lakh crore in 2024‑25, projected at ₹36 lakh crore next year.

The 2025‑26 budget is ₹8.33 lakh crore, with a record ₹46,728 crore for health. Per capita income rose to ₹1.09 lakh, agriculture output grew 28.5 %, and universal child immunisation was achieved. Plans include 22 expressways, 24 airports, and ₹50 lakh crore in investments.

The survey promotes a “Triple S” strategy, Safety, Stability, Speed, to boost growth and investor confidence.