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  • Business

    E-commerce to touch $32 bn GMV this year

    So far this year the growth of horizontals and verticals has been on par at 29 per cent. Chennai: Having achieved 30 per cent growth during the first phase of the festive season sales, e-commerce sector is well-poised to touch an aggregate gross merchandise value of $32 billion this year. In 2018, the e-commerce sector had garnered a gross merchandise value of $24 billion. The January-May period...

    • 2 hrs ago
  • Business

    HUL net spurts 21 per cent, but volume drags

    Home care sustained another quarter of robust growth with consistent top line delivery in fabric wash. Chennai: Benign raw material costs and new effective tax rates helped FMCG major Hindustan Unilever post strong net profit growth in the September quarter. However, volume growth, a key indicator of consumer demand, dipped to single digits. HUL on Monday reported a 21.18 per cent rise in standalone...

    • 2 hrs ago
  • Business

    Total to buy Adani Gas stake via open offer

    As per the latest understanding, Total will first make an open offer to buy a 25.2 per cent stake in Adani Gas. Kolkata: Total SA, the leading French energy company, chipped in Rs 5,700 crore to pick up a 37.4 per cent stake in Adani Gas Ltd, the Gautam Adani-owned company that retails gas to automobiles and households. In the new scheme of things, the French company will get a strong footprint in a...

    • 2 hrs ago
  • Business

    Govt mulls raising Rs 1 lakh default threshold for invoking IBC: Srinivas

    The banks should be looking at other options for recovering loans before invoking the IBC, said Corp Affairs Secy Injeti Srinivas. New Delhi: The government is examining suggestion to raise threshold of Rs 1 lakh default to invoke the Insolvency and Bankruptcy Code (IBC) to reduce number of cases in the NCLT, Corporate Affairs Secretary Injeti Srinivas said. The banks...

    • 5 hrs ago
  • Business

    SBI re-enters top-10 most valued firms list; replaces Bajaj Finance

    The bank had on October 1 lost its spot to Bajaj Finance in the coveted club of top-10 most valued domestic companies. New Delhi: State Bank of India on Monday re-entered the elite club of top-10 most valued domestic firms by market valuation after a gap of two weeks. Bajaj Finance had replaced SBI as the 10th most valued firm then. At close of trade on Monday, SBI's...

    • 6 hrs ago
  • Business

    Retail inflation rises to 3.99 pc in Sep on costlier food items

    The price rise in the food basket was recorded at 5.11 per cent in September, as against 2.99 per cent in the preceding month. New Delhi: Retail inflation spiked to 3.99 per cent in September mainly due to higher prices of food items, government data showed on Monday. The consumer price index (CPI) based inflation was registered at 3.28 per cent in August. On year-on-year basis,...

    • 6 hrs ago
  • Business

    Expect Paytm Mall biz to break even in a year: Vijay Shekhar Sharma

    Paytm will consider getting listed on stock exchanges only after 2021 when the financial services company starts generating cash. New Delhi: Paytm founder Vijay Shekhar Sharma on Monday said he expects Paytm Mall - the company's e-commerce unit - to break even in a year's time. Sharma maintained that Paytm will consider getting listed on stock exchanges only after...

    • 7 hrs ago
  • Business

    CAIT seeks govt audit into business models of Amazon, Flipkart

    ...both Amazon and Flipkart in a clandestine manner refuted the issues raised by us even after showing relevant evidences, said CAIT. New Delhi: Traders' body CAIT on Monday urged Commerce and Industry Minister Piyush Goyal to initiate an audit into the business model of e-commerce firms Amazon and Flipkart. In a letter to Goyal, CAIT said that since Amazon and Flipkart...

    • 7 hrs ago
  • Business

    RBI raises PMC Bank customers' withdrawal limit to Rs 40,000

    With this, about 77 per cent of the depositors will be able to withdraw their entire account balance, said RBI. Mumbai: The Reserve Bank of India on Monday increased the withdrawal limit for depositors of scam-hit Punjab and Maharashtra Cooperative (PMC) Bank to Rs 40,000 from Rs 25,000 per account over the next six months. This is the third time the regulator has increased the...

    • 8 hrs ago
  • Business

    Rupee drops 21 paise to 3-week low on fading US-China deal optimism

    Weak Chinese trade data also weighed on the domestic currency, analysts said. Mumbai: The rupee declined by 21 paise to close at a three-week low of 71.23 against the US currency on Monday as investors rushed to safe haven bets on fading hopes of an initial trade deal between the US and China. At the interbank foreign exchange market, the rupee opened higher at 70.83 and...

    • 8 hrs ago

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