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Reliance Jio beats Bharti Airtel, adds 4.3 million users in February

Reliance Jio added 4.3 million and Bharti Airtel added 3.7 million users to their networks in February, according to latest data by the telecom regulator. Vodafone Idea barely added 652,625 subscribers to its network in the month of February, shows Telecom Regulatory Authority of India (TRAI) data. Total wireless subscribers increased from 1.1 billion, in January to 1.2 billion in February, thereby registering a monthly growth rate of 0.72 per cent. Out of the total wireless subscribers, 981.92 million wireless subscribers were active users. The proportion of active wireless subscribers was approximately 84.09 per cent of the total wireless subscriber base. Bharti Airtel has the maximum proportion (97.47 per cent) of its active wireless subscribers.

Arbitration case: Cairn digs in heels, PSBs say prepared for legal battle

Indian public sector banks with substantial presence abroad are legally ready to mount a challenge abroad to counter any efforts by Cairn Energy to attach their assets. The development comes on the back of Cairn Energy saying on Tuesday that it was taking all necessary action to access the $1.7 billion it was awarded by the international arbitration tribunal after overturning the retroactive tax demand slapped by the Indian government. Given that deposits with overseas branches is public money and not a sovereign asset, attaching funds in such accounts is beyond the realm of rights of the said company, said people in the know.

HCL provides Delhi govt with O2 plants, cylinders to support relief efforts

HCL Group on Tuesday said it is supporting the Delhi government by providing oxygen plants and cylinders to support COVID-19 relief efforts. "HCL is supporting the Delhi Government with 12,000 oxygen cylinders each with a capacity of 40 litres and 21 oxygen plants which will generate 8,800 litres of oxygen per minute, catering to around 1,500 patients at a time," it said in a statement. Two of these ready-to-use oxygen plants, which were imported from France, have already been delivered and will get installed at Sanjay Gandhi Memorial Hospital in the national capital, it added.

Fintech firm Groww enters Rs 32-trillion MF space with Indiabulls purchase

Groww, a fast-growing technology-oriented investment platform, has signed an agreement with Indiabulls Housing Finance (IBHFL) to acquire Indiabulls Asset Management Company and Trustee Company for consideration of Rs 175 crore (including cash and cash equivalents of Rs 100 crore). With this acquisition, Groww will become one of the first fintech companies to enter the Rs 32-trillion asset management space.

Godrej Consumer Products' consolidated net profit up 59% in March quarter 

FMCG major Godrej Consumer Products Ltd (GCPL) on Tuesday reported a 59.13 per cent increase in its consolidated net profit to Rs 365.84 crore for the fourth quarter ended March 2021. The company, whose board on Tuesday appointed HUL former executive director Sudhir Sitapati as the managing director and CEO, had posted a net profit of Rs 229.90 crore in the January-March quarter a year ago, GCPL said in a BSE filing. Its net sales during the January-March 2021 were up by 26.87 per cent to Rs 2,705.69 crore, against Rs 2,132.69 crore in the year-ago period. GCPL Chairperson and Managing Director Nisaba Godrej said, "We delivered a third consecutive quarter of double-digit sales growth. Consolidated sales grew 27 per cent and Ebitda (earnings before interest, tax, depreciation and amortisation) grew by 21 per cent.

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