Amazon affiliate to buy $27.6 million stake in retailer Shoppers Stop

MUMBAI  - An affiliate of Amazon.com Inc has agreed to buy a 1.79 billion-rupee ($27.6 million) stake in Indian retailer Shoppers Stop Ltd, the Indian company said in a filing.

Amazon.com NV Investment Holdings LLC, a foreign portfolio investor, will subscribe to about 4.4 million shares, equivalent to an about 5 percent stake, in the Indian retailer at 407.78 ru

Economic stimulus to influence equity indices` movement

Expectations of an economic stimulus package, along with derivatives expiry and movement of foreign funds, are expected to drive equity investors' sentiment next week.

According to market observers, other major factors, such as the government's plans to recapitalise public sector banks and a volatile geo-political situation in the Korean Peninsula will also influence market mo

Zydus hypertension drug gets US regulatory nod

Global healthcare provider Zydus Cadila on Saturday said it received approval from the US Federal Drug Authority (USFDA) to market Amlodipine and Olmesartan Medoxomil tablets for the treatment of hypertension.

"The drug, meant for treating hypertension or to lower blood pressure with other anti-hypertensive agents, will be manufactured at our group's formulations manufacturin

Shoppers Stop sells 5% equity stake to Amazon.com

 Raheja Group's multi-brand fashion retailer Shoppers Stop Ltd on Saturday announced selling 5 per cent of its equity share (43.96 lakh shares) of Rs 5 face value to e-tail giant Amazon.com at Rs 407.78 per share, aggregating to Rs 179.26 crore on a preferential basis.

"The Board of Directors approved a proposal to issue 5 per cent or 43,95,925 equity shares on preferent

Subdued economic sentiment weighs heavy on equity indices

 Subdued macro-economic sentiment, coupled with rising geo-political tensions in the Korean Peninsula and continuous outflows of foreign funds dragged the key Indian equity markets in the red last week.


Consequently, the two key indices -- the BSE Sensex and the NSE Nifty -- receded below their psychologically important levels of 32,000-points and 10,000-points as investo

Pepsico India to counter malicious campaign on popular snack food

Pepsico India Holdings Private Ltd is taking measures to assure consumers about the safety of Kurkure, in the wake of malicious rumours that the popular snack food contains plastic, said a senior company official.

"I don't know on what grounds the rumour is spread that Kurkure contains plastic. Normally big brands attract malicious rumours," Vani Gupta, Marketing Directo

Ashok Leyland targets Russian LCV market

Commerical vehicles major Ashok Leyland Ltd hopes to start shipping left hand drive, light commercial vehicles (LCV) to Russia and Gulf region next year once the company comes out with its model in January 2018, said a senior company official here on Friday.

President, LCV, Nitin Seth, also told reporters here that Ashok Leyland is targeting a sales of around 40,000 LCVs this year in

Yamaha to invest over Rs 200 crore in Chennai plant

Japanese group Yamaha plans to invest more than Rs 200 crore in its two-wheeler plant near here, a statement from India Yamaha Motor Pvt Ltd said on Friday.

"Yamaha has so far invested Rs 1,300 crore in the Chennai factory and plans to invest over Rs 200 crore more by 2018. The Chennai factory is the first in the Yamaha Motor group with a vendor park in its vicinity," the st

Government invites proposals to appoint asset valuer for Air India

The government has invited proposals to appoint an "Asset Valuer" for national passenger carrier Air India, its subsidiaries and joint ventures (JVs).

According to the Ministry of Civil Aviation, the "asset valuer" will carry out valuation of land and buildings, aircraft including airframes and engines, spare engines, maintenance repair and overhaul facilities, amo

Renault India unveils SUV Captur, commences bookings

Automobile manufacturer Renault India on Friday unveiled the premium SUV -- Captur -- and commenced its bookings.

According to the company, SUV Captur's launch "is a significant step in Renault's growth journey in India" and that it has commenced the vehicle's production.

Sumit Sawhney, Country CEO and Managing Director, Renault India Operations said: &

Equities fall steepest in 10 months on global cues, weak rupee

Key Indian equity indices on Friday witnessed the steepest fall since November 2016, on the back of escalating geo-political tensions between North Korea and the US, a weak rupee and heavy selling pressure in capital goods, metal and banking stocks.

Market observers pointed out that investors' sentiments were hampered by a likely US rate-hike in December which was signalled by the

Trigyn Tech extends contract with UN, OICT

Trigyn Technologies has said that the contract between the United Nations, OICT (Office of Information and Communication Technology) and its subsidiary, Trigyn Technologies Inc., for provision of IT Staffing and Support Services, has been extended to June 30, 2018. “Currently, under this contract, Trigyn has approx. 150 resources in multiple engagements supporting the ICT infrastructure a

Indian Bank raises Rs 2,000 cr to finance infra, home loans

Public sector lender Indian Bank has said that it has raised Rs 2,000 crore to finance infrastructure and affordable housing. The amount raised through issuance of long term bonds is part of the bank's Rs 5,000 crore fund raise plan to support infrastructure and affordable housing in the country.

"The board of directors ...on September 21, 2017 accorded approval for issuance

InterGlobe Aviation raises Rs 3,795 cr

IndiGo's parent InterGlobe Aviation has raised nearly Rs 3,795 crore by selling shares to institutional investors, according to a regulatory filing, reported PTI. Four promoter entities of the company -- Rakesh Gangwal, Shobha Gangwal, Asha Mukherjee and Chinkerpoo Family Trust -- mopped up Rs 1,265 crore through the institutional placement of shares. An allotment of around 3.36 crore share

Ravi Uppal to step down as MD, group CEO of JSPL

Ravi Uppal will step down as the managing director and group CEO of debt-laden steel maker Jindal Steel & Power Ltd (JSPL) by the month-end after a 5-year term. “It is hereby informed that Mr Ravi Uppal, managing director & group CEO of JSPL will be completing his five year term on 30 September 2017,” the company said in a filing to BSE. JSPL group chairman Naveen Jindal wis

Franklin India Technology Fund : change in investment factsheets for August

Franklin India Technology Fund has announced change in investment factsheets and fund flash for the month ended August 31, 2017. As on Aug 31, 2017, the total size of the Fund was Rs 152.23 crores, compared with Rs 152.64 crores in the last month.

The Fund's NAV per unit was Rs 120.14 for Growth, while 52-Week High and Low ranges were Rs 121.90 and Rs 104.65 respectively. The Equi

Goldstone Infratech starts delivery of its Electric Buses

Goldstone Infratech said that its state of art zero emission electric bus has officially started running under Himanchal Pradesh Transport Corporation. “We would like to inform you that, the Company has started commercial delivery of its Electric Buses by supplying first two Electric Buses to 'Himachal Road Transport Corporation' (HRTC) against its order of 25 Electric Buses,&rdqu

NTPC shareholders approve raising Rs 15,000 cr via bonds

State-run power generator NTPC has announced receiving the approval of its shareholders to raise Rs 15,000 crore through non-convertible bonds on a private placement basis for capital expenditure, working capital and other corporate purposes.

The special resolution, passed by the majority of shareholders, was listed on the agenda of NTPC's annual general meeting here, the company

Dabur India joins hand with Amazon for ayurveda marketplace

Homegrown FMCG major Dabur India today said it has tied up with e-commerce major Amazon for an online ayurveda marketplace which will house all ayurvedic brands and products available in the country. The company, which will also offer consumers an insight into various ayurvedic medicines for treating a variety of ailments, said the idea is to service all health and personal care related needs o

Internet grows to 331mn domain name registrations in Q2 2017

The Internet has grown to 331.9 million domain name registrations in the second quarter of 2017 as nearly 1.3 million registrations were added during the period, a report said on Friday.

According to VeriSign, a global leader in domain names and Internet security, 1.3 million domain name registrations across the globe translates to a growth rate of 0.4 per cent over the first quarter

Reliance Home Finance Ltd Networth Of RS. 1,686 Crore (US$ 263 Million) Book Value per Share At RS. 35

Mumbai, September 22, 2017: Reliance Home Finance Ltd. lists its Equity Shares at the National Stock Exchange of India Ltd. (NSE) and BSE Ltd.

The announcement was made at an impressive listing ceremony fittingly held at NSE. The event began by lighting of the ceremonial lamp by the hands of Mrs.Tina Ambani. Other key personnel present were Mr. Anil Dhirubhai Ambani,

Reliance Home Finance debuts at Rs 107 on NSE

Housing finance company Reliance Home Finance Ltd (RHFL) -- part of Anil D Ambani-led Reliance Group -- on Friday debuted on the NSE at Rs 107.20.

Tina Ambani, wife of Anil Ambani, rang the bell signaling the listing of RHFL on the NSE.

Anil Ambani, Chairman, Reliance Group of Companies was also present at the event.

Speaking at the listing function Anmol Ambani, E

Equity indices slip on weak global cues, rupee

Key Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- descended by almost one per cent each during the mid-afternoon trade session on Friday as weak Asian markets, on the back of geo-political risks and depreciation of the rupee subdued investors' sentiments.

Heavy selling pressure in banking, capital goods and consumer durables stocks aided in the downslide of the in

ITI lowest bidder for army network order

State-run Indian Telephone Industries (ITI) Ltd on Thursday announced it had emerged as the lowest bidder in the Rs 7,000 crore tender floated by the army for its strategic communication network across the country.

"We have been declared winner (L1) in the Rs 7,000 crore phase-IV tender of the Army Static Switched Communication Network (ASCON) for deploying and maintaining its st

Three new passenger vehicles in design stage, says Tata Motors

In a bid to fulfill the gap in the passenger vehicles categories, automobile major Tata Motors has lined up three new cars in the design stage, a top company official said on Thursday.

"With the launch of the compact SUV Nexon, we have completed 71 per cent of the entire PV category. We have three new cars in the design stage which will further meet the gap," company's D