One 97 Communications, Rama Steel Tubes and Aurobindo Pharma to see some action today

One 97 Communications (Paytm) has posted over four-fold jump in loan disbursals from its platform both in terms of numbers and value in the quarter ended December 31, 2021. Paytm disbursed 44 lakh loans worth Rs 2,180 crore during the quarter as compared to 8.81 lakh loans worth Rs 470 crore disbursed from its platform in the year-ago period. The gross merchandise value (GMV) of the company more than doubled to Rs 2.5 lakh crore during October-December 2021 compared to Rs 1.12 lakh crore it registered in the corresponding quarter a year ago.

Rama Steel Tubes’ (RSTL) step-down subsidiary -- RST Industries, Nigeria (RSTIL) has signed a new annual contract with Huihai Group, Hong Kong for procuring 15,000 MT per annum of specialized steel SKUs in Nigeria. This contract has exclusive arrangement with RSTL specifically for procurement and supply of 15,000 MT per annum of specialized steel SKUs in Nigeria and these supplies will further strengthen RSTIL's order book and credibility in the mark.

Aurobindo Pharma has reportedly initiated talks with private equity funds to sell a stake of around 30-35% in its injectable business for Rs 4,500-5,250 crore ($600-700 million), as it plans value unlocking in its core businesses.

Timex Group India has sealed agreements with Timex Nederland B.V (Sequel Division) for the grant of manufacturing and distribution rights of ‘Guess’ & ‘Gc’ branded watches for the territory of India. The deal is a significant win for Timex Group India given Guess & Gc market share, reach and brand recognition in the fashion watch segment. The power of the Guess & Gc brands will be a great addition for Timex Group India. This partnership will allow Timex Group India to expand their business through the distribution of style driven product assortments to their fashion focused customer base, further securing credibility among the fashion-conscious youth of India. The new agreements are effective from January 2022 and aim to deepen the footprint and reach for both parties in the Indian market.

L&T Finance, one of the leading two-wheeler financiers in India announced the 'Welcome 2022' loan for customers aspiring to buy Royal Enfield motorcycles. The scheme comes with no hypothecation and will offer hassle-free, quick loan approvals in under 3 minutes, at attractive interest rates (from 7.99% onwards) to customers who are looking to buy their favorite Royal Enfield motorcycles. The scheme will offer up to 90 percent financing of the total cost of the vehicle on a 4-year repayment which will serve as an added benefit for the customers. Royal Enfield is a subsidiary of Eicher Motors.

Spandana Sphoorty Financial has received approval from board of directors for raising of funds by way of further issue of securities through private offerings and/or qualified institutions placement or other permissible mode under the applicable laws and/ or any combination thereof, in one or more tranches, for an aggregate amount not exceeding Rs 300 crore, subject to applicable laws, and necessary Members of the Company/Regulatory approvals, as applicable. The Board of Directors at its meeting held on January 10, 2022 has approved the same.

SJVN has been granted a Category 'I' license for inter-state trading in electricity in the whole of India by Central Electricity Regulatory Commission (CERC). Earlier, SJVN had been issued Letter of Intent by UPNEDA for 75 MW grid connected Solar Power Project at Gurhah, in Jalaun District and 50 MW grid connected Solar Power Project at jrai, in Kanpur Dehat District in the state of Uttar Pradesh through Tariff Based Competitive Bidding.