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Key News TVS Racing, Petronas join hands to launch co-branded lubricant oil After becoming the technical partner of the MercedesAMG Petronas Formula One Team and making strides in MotoGP through Petronas Sepang Racing Team, Malaysian oil and gas giant Petronas has joined hands with TVS Motor Company's TVS Racing, India’s first factory racing team As part of the tie up, TVS Racing has been rechristened Petronas-TVS Racing and both the players have launched co-branded lubrica...
Key News - TVS Motor Company, Bharat Heavy Electricals Limited, Future Group, Air India, Cyient Ltd By ARETE Securities
BENGALURU - Shares of Future Group companies fell sharply on Monday, some as much as 20%, after India's biggest retailer Reliance called off its $3.4 billion deal with the group over the weekend, pushing its flagship Future Retail towards a possible bankruptcy process. Shares of Future Supply Chain Solutions, Future Retail, Future Lifestyle Fashions, Future Consumer and Future Enterprises fell between 5% and 20%. With Reliance calling off the deal, Future, once one of India'...
India's Future Group stocks plunge after Reliance deal falls through
ONGC commissions Rs 6,000 crore projects to boost oil, gas output State-owned Oil and Natural Gas Corporation (ONGC) has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and aging fields A Rs 3,740-crore spend has been made on a state-of-the-art 8-legged water injection-cum-living quarter platform, as p...
Key News - ONGC, Aurobindo Pharma, Future Group, Life Religare Enterprises Ltd By ARETE Securities
In a new development in the Amazon vs Future Group legal battle, the global e-commerce company has moved the Supreme Court against the Delhi High Court order, which stayed the ongoing arbitration proceedings with the Future Group, in connection with the 2019 deal between the firms. According to sources familiar with the development, the special leave petition challenging the Delhi High Court order has been filed in the apex court. The source said the counsel are trying to list this matter ...
Amazon moves SC challenging Delhi HC stay on arbitration with Future Group
By Aditya Kalra NEW DELHI -Amazon.com Inc has filed fresh legal challenges in its long-running dispute with Indian retailer Future Group after the national antitrust agency suspended a 2019 deal between the two sides, leading to a halt in their arbitration, four sources told Reuters on Sunday. The Competition Commission of India (CCI) last month suspended its approval of Amazon's 2019 deal with Future, denting the U.S. e-commerce giant's attempts to block the sale of Future...
Amazon files new legal challenges in dispute with Future Group-sources
BENGALURU -Shares in Future Group companies fell on Wednesday, a day after an Indian court dismissed Future Retail's appeal to declare arbitration proceedings with now estranged partner Amazon.com Inc as illegal. Justice Amit Bansal at the Delhi High Court said on Tuesday that Future's filings were dismissed. The arbitration proceedings are set to resume this week. Future Retail on Wednesday appealed again in the Delhi High Court, seeking to declare the proceedings illegal...
India's Future Group shares fall after court decision on Amazon arbitration appeal
BENGALURU - Shares in Future Group companies fell on Wednesday, a day after an Indian court dismissed Future Retail's appeal to declare arbitration proceedings with now estranged partner Amazon.com Inc as illegal. Justice Amit Bansal at the Delhi High Court said on Tuesday that Future's filings were dismissed, without giving any further details. Future Lifestyle Fashions, Future Consumer, Future Retail and Future Enterprises fell as much as between 3.6% and 5.8% in a margi...
India's Future Group shares fall after court decision on Amazon arbitration appeal
In a setback to the Future Group, the Delhi High Court on Tuesday dismissed its pleas seeking a direction to a Singapore tribunal to deal with its termination application in connection with deal with Amazon. Justice Amit Bansal had reserved the orders on Monday after hearing on pleas filed by Future Retail Ltd (FRL) and Future Coupons Ltd (FCRL). The Future Group moved the high court seeking direction for the Singapore tribunal to hear termination application ahead of the scheduled hear...
Delhi HC dismisses Future's plea to end arbitration with Amazon
New Delhi, March 18 In a big win for Amazon, the Delhi High Court on Thursday restrained Future Retail from going ahead with the Rs 24,713 crore deal with Reliance on a petition filed by the Jeff Bezos-led company. The Future Group has been embroiled in a legal battle with Amazon since January, when the latter moved the Delhi High Court challenging Future Group's assets sale to Reliance Industries Limited. The court was approached on the ground that the assets sale violated a contra...
HC restrains Future Retail from going ahead with Reliance deal
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