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The Supreme Court of India on Friday ruled that the order of the arbitrator that put on hold the deal between Future Retail and Reliance Retail is valid. Effectively it means that the acquisition of Future Retail’s business by Reliance is now on hold and India’s most valued company may have to find another way […]
Flipkart, India’s homegrown e-commerce marketplace, today announced the expansion of its supply chain in Gujarat with the addition of four new supply chain facilities to support local sellers from the state and to cater to the growing demand for e-commerce. The expansion of the supply chain in Gujarat is a testament to Flipkart’s commitment to […]
Reliance BP Mobility Limited in partnership with Swiggy announced the commencement of trials that will increase the deployment of EVs in the delivery fleet of the food delivery platform, Swiggy to contribute to the creation of an EV ecosystem. The adoption of battery-operated EV includes deployment of electric 2-wheelers by Swiggy’s network of delivery partners. […]
Today, L&T held its Annual General Meeting where Mr. A.M. Naik, L&T’s Group Chairman’s made a keynote address. Here are the key highlights: “Given the scale of India’s infrastructure deficit, we remain optimistic about the Government’s intent to complete the projects as envisaged in the National Infrastructure Pipeline” “It gives me great pleasure to inform […]
Nirma was de-listed from the stock exchange in 2011 however it has continued to be a household detergent brand across the country. Nuvoco Vistas Corporation Ltd, a Nirma group company, filed a draft with SEBI to launch an IPO worth Rs 5,000 crore on May 6 which after approval will now be open for subscription […]
At a time when domestic consumption is falling in the country, an unprecedented price rise on two key fuels – petrol and diesel –may be counterproductive. Another threat due to record high prices is inflation. At a time when economic recovery is fragile and there is a looming threat of the third-wave of Covid19, higher […]
Under the shadow of declines in the Asian market and subdued European markets, for most of the day, Indian shares were outperforming their global peers. However, profit-booking in the last hour of trade erased all gains. Profit booking was amplified in the index heavyweights Reliance, TCS and Tata Steel. At the close, Sensex fell 66.23 […]
It seems that the aftermath of the Covid19 pandemic on Indian households is still unfolding. Slump in economic activity, restrictions on working conditions and increasing layoffs and unemployment has devasted family income resulting in large scale selling of families’ physical gold holdings. Indians, mostly middle class have reportedly sold 111 tonnes of their physical gold […]
Four funds that have a large investment in India’s second richest Gautam Adani-promoted firms have a history of investing in the companies that have defaulted on repayment to bank. The opposition has demanded an investigation for alleged round-tripping. These funds are also among the largest foreign shareholders in Winsome Diamonds and Jewellery Ltd., Sterling Biotech […]
National Fertilisers Limited (NFL) and Rashtriya Chemicals and Fertilisers Ltd (RCF) signed a Memorandum of Understanding (MoU) with Indian Farmers Fertiliser Cooperative Limited (IFFCO) for the transfer of technology of a revolutionary and game-changer fertiliser Nano Urea Liquid on July 27. MoUs and other related agreements were signed in the presence of Minister of Chemicals […]
Measures announced by the government to give relief to micro, small and medium enterprises (MSME) to thwart the impact of the Covid-19 pandemic on their businesses are inadequate, a parliamentary panel has concluded. A standing committee report (Impact of Covid-19 Pandemic on MSME Sector and Mitigation Strategy Adopted to Counter It) was submitted by the […]
“Sorry, I cannot help you. We have got the approval as per the rates fixed by the municipal corporation. I can not change the room charges as requested,” a hospital staff member tells a lady who is being discharged after 14 days of Covid-19 treatment. “But, my problem is I am allowed room charges only […]
Income Tax Department celebrates 161 years of the introduction of income tax in India. The Income Tax Department administers direct tax laws of the country, contributing to more than 52% of the total tax revenue of the government of India. On this occasion, 1984 batch IRS officer Krishna Mohan Prasad, a member of the Central […]
Tesla Inc is eyeing Indian grounds to set up a factory, only if taxes don’t play a spoilsport. Chief Executive Elon Musk took to Twitter and expressed his thoughts when quizzed on launching Tesla cars in India. The company has written to Indian ministries seeking a reduction in import duties on electric vehicles (EV). Second […]
Indian stock market closed with gains on Friday, however, it ended in the red for the week. The market continued its positive move from the previous session but failed to gain in early trade. However, buying in ICICI Bank propelled the indices higher during the day. The last hour profit booking in the index major […]
Online majors – Flipkart and Amazon – will have to go through investigations by the Competition Commission of India (CCI), a division bench of the Karnataka High Court ordered. The petition was moved by e-commerce majors against the single judge bench order that held the investigation into business practices of the two companies by the […]
“Arvind Lifestyle Brands Limited (ALBL), a wholly-owned subsidiary of Arvind Fashions Limited (AFL), has signed definitive agreements for strategic sale of assets of its Unlimited retail business to V-Mart Retail Ltd. in an all-cash transaction,” Arvind Fashions said in a media release. As per the agreement, Arvind group will get Rs150 crore in cash post […]
In the pandemic year of 2020-21, overall sales of automobiles were severely affected due to lockdown, restrictions on the opening of showrooms, and lack of demand. However, with the unlock, the demand seems to be coming back on track. However, the biggest surprise is the pick-up in hind-end or premium vehicles. After declining by half […]
Pidilite Industries Limited announced on Friday, July 16, that Sudhanshu Vats will join the company as Deputy Managing Director, effective from September 1, 2021. Sudhanshu Vats, an alumnus of IIM-Ahmedabad and NIT Kurukshetra, has a rich career of 30 years spanning diverse organizations like Unilever, Castrol, Viacom18 and more recently, EPL (formerly known as Essel […]
With changing times, the entire world has found itself at the threshold of digitalisation. And covid-19 pandemic has only boosted this. With communication, entertainment and education all taking the online route, one isn’t left with any other choice.. Since 24th March last year, when the lockdown was imposed for the first time, e- skill courses […]
