Kent RO Systems, a water purifier company, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).

While this marks an important milestone for the company, its financials tell a mixed story with some concerns.

Kent RO’s latest financial data reveals a strong profit jump in FY24, but this comes after a sharp fall in the previous fiscal (FY23).

The company had posted a profit of Rs 166.5 crore for the year ended March 31, 2024, compared to Rs 97.1 crore in FY23.

While this is a big jump of around 71 per cent, it’s important to note that the profit had dropped by over 37 per cent in FY23 from Rs 154.2 crore in FY22.

The National Payments Corporation of India (NPCI) and the Institute for Development and Research in Banking Technology (IDRBT) on Thursday signed a memorandum of understanding (MoU) to work together on strengthening cyber security and resilience in India’s fast-growing digital payments ecosystem, including UPI.

This partnership aims to improve the overall safety of digital transactions by focusing on training, awareness, and proactive risk management.

Dilip Asbe, MD and CEO of NPCI, said that this collaboration with IDRBT is a step towards enhancing cyber resilience not just through technology, but also through people and preparedness.

“Strengthening cyber resilience is not just about technology, but also about people and preparedness,” Asbe stated.

He emphasised that training, certifications, and shared intelligence will play a key role in raising security standards.

Shares of One 97 Communications, the parent company of Paytm, fell by up to 10 per cent on Thursday, hitting a low of Rs 864.20 on the Bombay Stock Exchange (BSE).

However, the stock recovered some of its losses during the intra-day trade and was seen trading at Rs 906.75, still down by Rs 53.70 or 5.59 per cent on the BSE.

The sharp fall came after the Finance Ministry strongly denied reports that the government was planning to reintroduce a merchant discount rate (MDR) on UPI payments.

MDR is a fee that banks or payment service providers like Paytm charge merchants for processing digital payments.

Currently, the government has waived MDR charges on UPI transactions to promote digital payments.

Maruti Suzuki India on Thursday denied any disruption to its operations due to the rare earth magnet crisis, saying that they are monitoring the evolving situation.

Reports have surfaced that the production plans for the automaker’s upcoming electric sport utility vehicle (SUV), the e-Vitara, may be affected due to China’s restriction on exports of rare earth minerals. The e-Vitara is expected to be launched in India before the end of September.

“Regarding the situation on rare earth, as of now, there is no disruption in our operation due to this issue. There is a lot of uncertainty, and the situation is continuously evolving,” a Maruti Suzuki India spokesperson said on the sidelines of the announcement of Bharat NCAP safety ratings of the Dzire compact sedan and the Baleno premium hatchback.

"We are monitoring the situation and pursuing multiple solutions to ensure continuity in our operations. If and when there is any material impact to our business, we will inform all stakeholders in line with regulatory requirements," the spokesperson added.

South Korea's antitrust regulator said on Thursday that it has rejected a proposed mileage integration plan submitted by Korean Air Lines and Asiana Airlines, citing insufficient details and consumer benefit concerns.

The Fair Trade Commission (FTC) said the plan, submitted earlier in the day as part of the carriers' broader merger plan, failed to meet the standards necessary to proceed with a formal review, reports news agency.

"There were shortcomings in the proposed mileage redemption plan compared to what Asiana Airlines previously offered," the FTC said. "In terms of the proposed mileage integration ratio and other explanations, we found the submission insufficient to initiate a full assessment."

The FTC requested Korean Air to immediately revise and supplement the proposal before resubmitting.

The entry of ride-sharing companies into the online food delivery market in India pose early challenge to existing players like Zomato and Swiggy as in initial years, such companies can operate on much lower margins or at break-even, a report showed on Wednesday.

Rapido has announced its entry this month. ONDC was a similar risk in 2023 but it was not able to make a major dent in the duopoly structure of the food delivery industry, according to a note by HSBC Global Investment Research.

Average two-wheeler (2W) ride-sharing cost economics are not much different from food delivery (FD), while profit margins and industry size are much larger for food delivery compared to ride sharing.

Investors in the Gensol Engineering Limited (GEL) have suffered a massive loss to the tune of nearly Rs 4,000 crore as the stock of the fraud-hit company sank by more than 95 per cent.

Gensol Engineering's stock closed 2 per cent down at Rs 51.42 on the National Stock Exchange (NSE) on Wednesday. The stock has slipped 95.42 per cent from its all-time high.

In April, the Securities and Exchange Board of India (SEBI) took strict action against Gensol’s top promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. The capital markets regulator barred both from accessing the securities market and from holding key management roles.

Public sector giant Steel Authority of India Limited (SAIL) announced on Tuesday that it has received the accreditation for the Authorised Economic Operator (AEO), Tier II from the Directorate of International Customs.

Recognised globally, this accreditation serves as a testament to an organisation’s commitment to compliance, integrity and supply chain security and helps in trade facilitation. AEO certification, issued by the Central Board of Indirect Taxes and Customs (CBIC), grants businesses specific benefits, including expedited customs clearance and reduced inspection requirements.

The AEO programme aims at fostering a secure and efficient trading environment in international trade. It is a trade facilitation move wherein benefits are extended to entities that have demonstrated strong internal control systems and a willingness to comply with the laws administered by CBIC.

OpenAI’s popular chatbot ChatGPT suffered an outage on Tuesday, as users across the world, including in India, were facing problems with loading and accessing results to prompts.

The company said there are “elevated error rates and latency” that users have been experiencing on various AI platforms.

"We are investigating," said the company. About 88 per cent of complaints from India cited the chatbot not responding to queries, 8 per cent reported issues with the mobile app, and 3 per cent faced API-related problems.

Downdetector also posted a spike in the issues reported by users.

The hiring intent in India remains steady in the third quarter this year (July-September) globally, driven by strong growth in the private services sector and expectations of economic benefits stemming from shifts in global trade dynamics, especially in relation to China, according to a report released on Tuesday.

Employers report a Net Employment Outlook (NEO) of 42 per cent for the July-September period, according to the latest ManpowerGroup Employment Outlook Survey.

The results, based on responses from 3,146 employers across India during April 2025, show the Indian hiring Outlook remains very animated. Amid these favourable conditions, India continues to position itself as a key player in the global employment landscape.

“As we enter the third quarter of 2025, India’s employment Outlook remains robust, with a NEO of 42 per cent -- among the highest globally. Despite a slight dip from the previous quarter, the 12-point year-on-year gain highlights sustained employer confidence and growth momentum in the labour market,” said Sandeep Gulati, Managing Director, ManpowerGroup India and Middle East.