BUSINESS
India's live commerce industry to reach $4-5B by 2025
Of all the categories, beauty and personal care (BPC) is expected to grow the highest with more than $1 billion GMV through live commerce. Fashion is expected to contribute 60-70 per cent of the GMV while BPC will contribute the other 30-40 per cent, according to report by market research firm RedSeer. Live commerce is a form of online shopping where customers make purchases during live streaming video events.
Renault Nissan vs Workers: Views of workers should be heard by Tamil Nadu
"In all fairness the state government team should also hear the worker's views. It is they who work on the ground and know what is possible and not possible," M. Moorthy, General Secretary, Renault Nissan India Thozhilalar Sangam (RNITS- worker's union), told IANS. Continuing further he added earlier the High Court had ordered an inspection team to discuss with the workers to arrive at the changes in the car assembly line.
UK Chancellor in-laws hit with 5.5m pound bill in Amazon India tax dispute: Report
The disclosure adds to the list of legal battles currently involving the joint venture, following news on Friday that India's competition has been given permission to relaunch an investigation into Amazon. The Guardian reported that small traders claim they are being squeezed out of business by the multinational's selling practices and that the US retailer's 1 billion-pound-a-year venture with the chancellor's father-in-law, NR Narayana Murthy.
Base effect: India's WPI inflation zooms to 12.94% in May
Significantly, this is the highest rate of WPI inflation in the current series. The previous high mark was observed in April. The monthly rate of inflation, in May 2020 stood at (-) 3.37 per cent. On sequential basis, the month over month change in WPI index for May 2021 as compared to April was 0.76 per cent. "The high rate of inflation in May 2021 is primarily due to low base effect and rise in prices of crude petroleum, mineral oils viz. petrol, diesel.
Adani Group stocks slump as NSDL freezes accounts of 3 FPIs holding shares in group companies
As per reports, the freeze on the three accounts could be because of insufficient disclosure of information regarding beneficial ownership under the Prevention of Money Laundering Act (PMLA). Adani stocks have been rising phenomenally and added over $40 billion to Gautam Adani's wealth this year.
Sensex down 300 points; finance, auto stocks lead selloff
The key Indian equity indices declined on Monday morning tracking mixed cues from the Asian market along with profit booking by traders after the indices scaled new highs last week. The across-the-board selloff was led by auto, finance and banking stocks. Around 9.45 a.m., Sensex was trading at 52,166.60, lower by 308.16 points or 0.59 per cent from its previous close of 52,474.76.
Ruchi Soya plans FPO to raise funds, meet SEBI norms
The move would also allow the company to meet SEBI's minimum public shareholding norms. In a regulatory filing on Sunday, Ruchi Soya said that the Issue Committee, constituted by the board, on June 12 approved the raising of funds and also approved the draft red herring prospectus to be filed with the capital market regulator.
Reliance Power board approves preferential issue of shares, warrants to Reliance Infra
The Board of Directors of Reliance Infrastructure Limited (Reliance Infra) at its meeting on Sunday approved the subscription of the preferential issue. This will reduce Reliance Power standalone debt by Rs 1 ,325 crore and along with planned debt reduction in subsidiaries, Reliance Power consolidated debt will reduce by Rs 3,200 crore in FY22.
Exim Bank sees India's Q1 merchandise exports at $87.2bn
It would be around 70 per cent higher than $51.3 billion during the same quarter last fiscal, Exim Bank said in a statement. Non-oil exports are likely to grow over 68 per cent on a year-on-year basis to $78.26 billion, compared to $46.4 billion during April-June, FY21.
BSESENSEX lifetime high achieved, market trend unclear
BSESENSEX finally managed to hit a lifetime high and did so on Friday touching 52,641.53 points. This crossed the previous high made on February 16 of 52,516.76 points. Incidentally NIFTY had made a lifetime high on May 28 and it took a fortnight for the BSESENSEX to achieve the same, something which has not happened in a very long time.
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