Top headlines: Paytm targets profitability in 6 qtrs; TaMo launches 'CURVV'

Business Standard brings you the top headlines on Wednesday

Tata Motors showcases electric SUV concept; market launch within two years

Homegrown auto major Tata Motors is set to drive in a new electric SUV - Concept CURVV, with enhanced driving range and technology, within the next two years.

The Mumbai-based auto major, which on Wednesday showcased the electric SUV concept, aims to cater to the consumers who seek individuality and design differentiation, with the new product. Read more

Paytm to be operating EBITDA breakeven in 6 quarters: Vijay Shekhar Sharma

Fintech major Paytm is likely to be operating EBITDA breakeven in the next six quarters, the company’s founder and CEO Vijay Shekhar Sharma said in a letter to shareholders on Wednesday.

“We should be operating EBITDA breakeven in next six quarters (i.e. EBITDA before ESOP cost, and by the quarter ending September 2023), well ahead of estimates by most analysts. Importantly, we are going to achieve this without compromising any of our growth plans,” Sharma wrote. Read more

Maruti Suzuki to hike vehicle prices this month amid rise in input costs

The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it will increase prices of its entire model range this month amid rise in input costs.

Over the past year, the cost of the company's vehicles continued to be adversely impacted due to increase in various input costs, the auto major said in a regulatory filing. Read more

CCI probes debt trustee units of SBI, Axis, IDBI on suspected fee cartel

India's antitrust body is investigating the trustee units of State Bank of India, Axis Bank and IDBI Bank for suspected collusion on fees, triggering a lawsuit by a group representing them, documents seen by Reuters showed.

Indian regulations mandate that companies raising debt appoint a so-called "debenture trustee" to protect the interests of investors. The trustees charge a fee from the companies issuing the debt and make independent due-diligence checks on them. Read more