Amazon used secret ways to flout rules- Report
Thu, Feb 18, 2021 5:51 AM

Amazon used secret ways to flout rules- Report

Amazon has for years given preferential treatment to a small group of sellers on its India platform, publicly misrepresented its ties with the sellers and used them to circumvent tough foreign investment rules that affect e-commerce, internal company documents reviewed by Reuters show. The documents, dated between 2012 and 2019, are reported here for the first time.

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60% of Nifty cos see a rise in buy ratings post-covid
Thu, Feb 18, 2021 5:49 AM

60% of Nifty cos see a rise in buy ratings post-covid

Mumbai: Analysts have upgraded ratings on around one-third of Nifty stocks as India Inc. continued to report strong earnings for the second consecutive quarter. Overall, corporate earnings in the December quarter were robust, led by a recovery in demand as the economy opened up gradually following the lockdown, while a tight leash on costs helped them have better control on their expenses.

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SoftBank stock sets new record in throwback to dot-com boom
Thu, Feb 18, 2021 5:47 AM

SoftBank stock sets new record in throwback to dot-com boom

After 21 years, SoftBank Group Corp. is back on top. Shares of the Japanese tech investor on Tuesday surpassed the peak they hit on Feb. 18, 2000, at the height of the dot-com bubble. They closed at 10,420 yen, equivalent to $98.96, which was almost double their price a year ago, and topped the old split-adjusted record of ¥10,111.1.

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Airtel to acquire 20% stake in Bharti Telemedia from Warburg Pincus
Thu, Feb 18, 2021 5:46 AM

Airtel to acquire 20% stake in Bharti Telemedia from Warburg Pincus

Bharti Airtel Ltd will acquire a 20% stake in its direct-to-home (DTH) subsidiary Bharti Telemedia Ltd from a Warburg Pincus entity for Rs3,126 crore, the Sunil Mittal company said in a statement on Wednesday. In December 2017, Bharti group had agreed to sell 20% of its DTH unit, Bharti Telemedia to Warbug Pincus for ₹2,258 crore.

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Amazon urges NCLT not to permit any Future Group’s shareholders meeting
Wed, Feb 17, 2021 10:32 PM

Amazon urges NCLT not to permit any Future Group’s shareholders meeting

Amazon applied to the National Company Law Tribunal (NCLT) not to allow convening of any meeting of Future Group's shareholders or creditors for approval of its proposed Rs 24,713 crore deal with Reliance Industries. The NCLT has reserved the order over the scheme of arrangement that entails the consolidation of Future Group’s retail and wholesale business and transferring it to RIL.

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Poonawalla backed firm wants to buy additional 26% stake in Magma Fincorp
Wed, Feb 17, 2021 10:02 PM

Poonawalla backed firm wants to buy additional 26% stake in Magma Fincorp

Adar Poonawalla-backed Rising Sun Holdings Pvt Ltd along with two other individuals have made an open offer to buy an additional 26% stake in non-banking financial company Magma Fincorp for a consideration of more than Rs 1,391 crore. At the beginning of the month, the Poonawalla Group and Magma Fincorp announced that the group will acquire a controlling 60% stake in the company.

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Top 8 performing NIFTY50 stocks | FlipItFact
Wed, Feb 17, 2021 10:00 PM

Top 8 performing NIFTY50 stocks | FlipItFact

Here are the top 8 performing NIFTY50 stocks (according to 1-year returns as of February 16 2021): [1] Tata Motors Limited (97.13%), [2] Cipla Limited (88.84%), [3] Wipro Limited (81.02%), [4] Mahindra & Mahindra (74.35%), [5] Divi's Laboratories Limited (72.89%), [6] Adani Ports and SEZs (71.12%), [7] Infosys Limited (66.53%), and [8] Grasim Industries (65.26%).

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RailTel Corp IPO subscribed 6.65 times on Day 2
Wed, Feb 17, 2021 9:47 PM

RailTel Corp IPO subscribed 6.65 times on Day 2

The RailTel IPO subscribed 6.65 times on day two of bidding with an overwhelming response from retail investors. The ₹819-crore IPO has received bids for 40.64 crore equity shares against offer size of over 6.11 crore shares, according to data posted by the exchanges. The offer comprises of 87.15 million equity shares with a face value of ₹10 each and is a complete OFS by the govt of India.

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Rs 167.16 crore dividend paid by Rashtriya Chemicals and Fertilizer to govt
Wed, Feb 17, 2021 9:24 PM

Rs 167.16 crore dividend paid by Rashtriya Chemicals and Fertilizer to govt

Rashtriya Chemicals and Fertilizers Ltd (RCF) on Wednesday paid a dividend of Rs 117.51 crore to the government for the 2019-20 fiscal and an interim dividend of Rs 49.65 crore for the current financial year. The total dividend paid amounts to Rs 167.16 crore. The company manufactures urea, complex fertilisers, bio-fertilisers, micro-nutrients, and 100% water-soluble fertilisers.

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20% stake of Warburg Pincus to be acquired by Airtel for Rs 3,126 crore
Wed, Feb 17, 2021 8:23 PM

20% stake of Warburg Pincus to be acquired by Airtel for Rs 3,126 crore

Bharti Airtel announced that it will acquire a Warburg Pincus affiliate’s 20% equity stake in its DTH arm Bharti Telemedia for about Rs 3,126cr. It will be paid primarily via issuance of around 36.47 million equity shares of Airtel at a price of INR 600 per share, and up to Rs 10,378 million in cash. The issuance of shares through preferential allotment is subject to shareholders’ approval.

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Amazon documents reveal strategy to dodge India’s regulators
Wed, Feb 17, 2021 8:05 PM

Amazon documents reveal strategy to dodge India’s regulators

In 2019, Jay Carney, Amazon's senior executive was preparing for a meeting with India’s ambassador. Before the meeting, Amazon employees prepared a draft note on what to say– and what not to say. Carney should highlight that Amazon committed over $5.5 billion in India, and at the same time, he should not reveal that 33 Amazon sellers accounted for about a third of all goods sold on the portal.

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Finolex Cables eyeing to be a one-stop solution for electrical products
Wed, Feb 17, 2021 7:56 PM

Finolex Cables eyeing to be a one-stop solution for electrical products

Finolex Cables on Wednesday added conduit and fittings to its list of products. The conduits are manufactured at its technically advanced Goa plant from specially formulated µPVC to meet the most stringent India & International standards. These products are made of high impact resistant materials which make them safe to use across varied environmental conditions.

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Twitter rolls out voice DM feature in India
Wed, Feb 17, 2021 7:42 PM

Twitter rolls out voice DM feature in India

Twitter has been testing multiple features from "fleets", a tool for disappearing content to 'Spaces', an audio chatbox. The latest feature that is in its trial phase is a new voice messaging feature for direct messages on its microblogging platform. The feature will be rolled out in a phased manner for all its users in India, Japan and Brazil.

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Dish TV India and its promoters settle cases with the SEBI
Wed, Feb 17, 2021 7:31 PM

Dish TV India and its promoters settle cases with the SEBI

Dish TV India and its promoters, Direct Media Distribution Ventures and World Crest Advisors on Wednesday settled cases with the Sebi after paying nearly Rs 45 lakh as settlement charges. The disputes were concerning alleged disclosure lapses. During the investigation, Sebi found that there were certain transactions in the nature of invocation of pledge done by DMDVPL and WCA with respect to DTIL.

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General Electric  expects cash flow to be negative in Q1
Wed, Feb 17, 2021 7:21 PM

General Electric expects cash flow to be negative in Q1

General Electric expects cash flow to be negative in the Q1, which is typically the slowest period of the year. However, the conglomerate isn’t changing its outlook for 2021. Speaking at an investor conference Tuesday, CEO Larry Culp said the first-quarter performance would still be better than a year ago when the company burned through $2.2 billion in cash for the period.

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