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Fino-Paytech shows operational profitability in Q1FY21

Fino-Paytech in the first 6 months of FY20-21 has delivered a profit of 11 Crores at the operational level as compared to a loss of 3.5 Crores despite the pandemic situation. Fino Paytech Limited Group is primarily engaged in providing technology-based solutions and services related to financial inclusion. It is a business and banking technology platform combined with extensive services delivery channel.

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Bira is raising funds from foreign investors to run its operations

Bira beer, established in the summer of 2015 by B9 Beverages and headquartered in New Delhi, is looking to raise funds for its working capital requirement. It is looking for a strategic foreign partner for providing assistance. It is heard in the street that Bira is in talks with Japan-based Kirin Holdings, which has limited sales in India and can give Kirin Holdings a sizeable presence in the Indian market. Kirin Holdings is the biggest beer maker in Japan.

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Paytm joins the bandwagon to offer broking services

Paytm is going to add spice to the highly competitive broking industry, as it has announced to start the broking services for its users from its flagship product Paytm Money. UnlistedZone a few days back has reported that Paytm Money has appointed Varun Sridhar a new CEO to lead broking business. Varun Sridhar is a seasoned player who has earlier worked with BNP Paribas.

News

VIVO remains as title sponsor in IPL 2020 despite Chinese connection

In the last 1-2 months, we have seen how the relationship between India and China deteriorated due to border skirmishes. Anti-Chinese sentiments were in full spree across India and everyone in the social media was advocating not using Chinese items. The Indian Government took extreme steps banning China’s biggest video making app i.e. Tiktok and canceling BSNL’s 4G tender, where Chinese Giant Huawei was the equipment supplier.

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Paytm Money Appoints Varun Sridhar as New CEO

As per the news sourced from Paytm blogs, Varun Sridhar has joined as Paytm Money’s new CEO. He will manage and develop Paytm’s broking, Mutual funds, NPS, and Gold services business.

Before joining Paytm, Varun was previously the part of top retail banks in India and abroad. He has worked 7 years with BNP Paribas, where he led the acquisition and integration of Sharekhan and

Financial Analysis

Reliance Retail EBITDA Down by 50% in First Quarter

Reliance Industries yesterday has given the earning detail for Q1FY21 to the exchanges. The consolidated revenue has decreased by 42% in the first quarter of FY21 as compared to the same period last year. The PAT has gone up from ~10K Crores in Q1FY20 to ~13K Crores in Q1FY21, due to the addition of exceptional gain of ~5K Crores by selling the Petro Retail Marketing business to Reliance BP Mobility Limited (RMBL). Finally, BP has acquired a 49% equity stake in RBML.

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