Internet entrepreneur and Flipkart co-founder Sachin Bansal has put more money into Ola, giving the domestic ride-hailing company more ammunition to compete with its American rival Uber. He has invested Rs 650 crore, or about $92 million, in ride-hailing platform Ola in his personal capacity as investor. In a statement on Tuesday,[Read More…]
business
Sensex up 130 points, financials gain
Mumbai: The Sensex advanced over 130 points during the Tuesday morning trade session as it opened higher with key banking and finance sectors gaining. All the sectors on the NSE traded in green, as well, except for IT, Pharma and Media stocks as the Indian rupee slid against the US[Read More…]
Cognizant routed money through L&T to bribe govt officials in India
New Delhi: Days after Major IT company Cognizant agreed to settled the case of bribing Tamil Nadu government officials by agreeing to pay about $28 million (about Rs 200 crore) to the US Department of Justice (DOJ) after a case was filed by DOJ against two former executives, it has[Read More…]
Sensex, Nifty trade flat, auto stocks down
Mumbai: The Sensex and Nifty declined after opening on a flat to positive note on Monday led by selling in auto, IT and FMCG stocks. The Sensex of the BSE opened at 35,831.18 from its previous close at 35,808.95 on Friday. At 9.20 a.m., the Sensex traded at 35,794.97 lower[Read More…]
India likely to gain $11bn in exports from US-China trade war: UNCTAD
By Arul Louis United Nations: There may be a golden lining for India in the dark clouds of the tariff war waged by US President Donald Trump against China, and it is likely to increase its exports by as much as $11 billion if the proposed tariffs go into effect[Read More…]
Oil, gas companies incentivise executives to chase growth: Carbon Tracker
New Delhi: Oil and gas companies are jeopardizing shareholder returns by rewarding bosses for endlessly chasing growth in a world where investor pressure to conform to climate targets and sharp falls in renewables costs are set to eat into future demand, financial think tank Carbon Tracker said on Thursday. Previous[Read More…]
Exim Bank to raise $2 bn from bond issue
Chennai: The Export-Import Bank of India (Exim Bank) would raise about $2 billion through a bond issue for business purposes, and its net non-performing assets (NPA) is only about 3.79 per cent, said the company on Monday. The bank has an exposure of about Rs 480 crore to overseas subsidiaries[Read More…]
Sensex down 110 points, Nifty below 10,950
The Sensex slid over a 100 points after opening in the green while the Nifty shed close to 50 points during the morning trade session on Monday. Except for IT stocks on the BSE, all the others sectors traded lower. Oil and gas, capital goods and auto stocks lost over[Read More…]
Sale of shares by L&T Finance, Edelweiss group companies illegal: Reliance Group
Mumbai: The Reliance Group on Friday termed as “illegal and excessive” the open market sale of shares of Reliance Group invoking the pledge from 4.2.2019 to 7.2.2019 by L&T Finance and some entities of Edelweiss group. In a statement issued here, Reliance Capital said: “A few NBFCs, substantially L&T Finance[Read More…]
Walmart may exit Flipkart due to new FDI rules: Morgan Stanley
New Delhi: Retail giant Walmart may exit Flipkart after India’s new Foreign Direct Investment (FDI) norms for e-commerce companies came into force, US investment banker Morgan Stanley has warned. “An exit is likely, not completely out of the question, with the Indian e-commerce market becoming more complicated,” the report by[Read More…]
