Top headlines: India detects 2 Omicron cases; Paytm gets first 'Buy' rating

Business Standard brings you the top stories this evening

Covid: India's first two Omicron cases detected in Karnataka, says govt

Two cases of the new Omicron variant of coronavirus have been detected in Karnataka, the Union government said on Thursday while asking people not to panic but follow Covid-appropriate behaviour and get vaccinated without delay.

Both the patients are men aged 66 years and 46 years with mild symptoms. Severe symptoms have not been noted, an official said during a press conference. Read more

First 'Buy' report on Paytm sees firm turning profitable by 2026

Paytm, which has moved wildly since its listing after India’s largest initial public offering, has received the first buy rating from a brokerage that expects the company to turn profitable by March 2026.

Dolat Capital Market Pvt, the third brokerage to initiate coverage on the digital payments giant after Macquarie Capital Securities and JM Financial Institutional Securities Ltd., said its transition to a “manufacturer” of financial services from an agent, cross-selling of services, and strong growth in the number of users will help the company. Read more

L&T, ReNew Power ink partnership to tap emerging hydrogen biz in India

Larsen & Toubro (L&T) in partnership with ReNew Power (ReNew) will be tapping the emerging green hydrogen business in India.

While the contours of the partnership are yet to be worked out, the two companies signed an agreement on Thursday under which, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects across the country. Read more

Ride-hailing firm Ola plans IPO in first half of 2022, readies 'super app'

Indian ride-hailing company Ola plans to go public in the first half of 2022, Chief Executive Officer Bhavish Aggarwal said on Thursday, undeterred by the recent volatility and lackluster listing of some start-ups in the country.

Ola, backed by Japan's SoftBank Group, is also gearing up to create something of a "super app" with plans to broaden its services beyond mobility to include personal finance and micro insurance, Aggarwal told the Reuters Next conference. Read more