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Wednesday, February 22, 2017

Feb 22, 2017 - Talk of suitors lining up lifts Axis Bank shares

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
In this interesting TED dialogue with noted historian Yuval Harari, he tries to explain what's happening with the world right now and what to expect in the future. It's a one hour video, so brace yourself, but several questions about governments, artificial intelligence, the future of identity, etc are tackled. One of the more positive and striking comments here is a reminder about how people in the 40s and 50s thought the world was about to end, with the cold war and the use of nuclear weapons. This possibility was not too far-fetched. But we humans rose to the challenge and the nuclear deterrent has actually forced many countries to take war out of their toolkit, and the world largely is a safer place than it was a few decades ago. So, in terms of human history, de-globalization and political divisiveness will be minor speedbumps that we will tackle. Climate change and artificial intelligence are the real issues we need to worry about. Entire video here.

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Talk of suitors lining up lifts Axis Bank shares

The rumours started earlier this month with speculation that Kotak is in talks to buy out its larger private sector rival.

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There's a new cartel in town: Insurance firms

The general insurance sector has come together to follow uniform premium rate and deductible for seven industries and add another five in the next financial year.

As notes return, gold buyers go back to cash

Samir Sagar, managing director of Mumbai-based Manubhai Jewellers, said purchases of gold jewellery worth Rs 65,000-75,000 are happening in cash.

These mutual fund schemes have assets over Rs 10,000 crore each

These seven schemes put together account for Rs 97,300 crore, which is about 19% of the industrys equity assets.

Indian banks are misreading the threat from fintech like Paytm, Jio Payments bank

Just because Indian fintech start-ups lack the scale and sophistication of their Chinese peers doesn’t mean banks can take them lightly

ChrysCapital to sell 14% in CavinKare

Mumbai/Chennai: Personal care products company CavinKare is set to buy back 14% stake held by India's oldest private equity house, Kunal Shroff-led ChrysCapital, for around Rs 500 crore, people directly aware of the matter said.

Flipkart in talks with Microsoft, others for up to $1.5 billion fundraising

Flipkart is also in talks with Tencent, eBay, PayPal and Google Capital for investments at a valuation of $10-12 billion

PE firm ChrysCapital marks final close of seventh fund

The largest and oldest Indian private equity house, ChrysCapital, has raised $610 million seventh fund taking its assets under management to about $3.2 billion.

Questioning the Infosys shareholders

Shareholder activism is emerging from Infosys founders as well as a couple of past executive directors of the IT firm

JC Penney to reduce outsourcing to India

As part of an ‘insourcing’ drive, US retail chain JC Penney plans to hire at least 1,000 software engineers in two years for its Bengaluru technology centre

Why the Kotak-ING Vysya bank merger has not been as inexpensive as believed

Following the merger, the combined workforce stood at over 40,000. Today, this number stands at more than 46,500.

Tata fund in talks to buy 23% stake in Dodla Dairy

Tata Opportunities Fund may buy the Dodla Dairy stake worth Rs300 crore held by US-based Proterra

RBI for December deadline to recast top 50 bad loans

Deputy Gov Viral Acharya has proposed setting up two asset mgmt cos, one private and the other quasi with govt stakeholding, and two rating agencies for valuation of stressed assets.

SBI chief Arundhati Bhattacharya moots dedicated spectrum for financial transactions

She said telcos being commercial entities have their objectives to ensure that they can carry voice, data with better clarity and speed and to make profits.

India must urgently resolve bad debt at lenders: RBI deputy governor

Reserve Bank of India (RBI) Deputy Governor Viral Acharya said India needs to urgently address the large amounts of bad debt held by its lenders, outlining potential solutions...

ONGC takes profit hit from royalty payments

ONGC finance head A. K. Srinivasan says the firm will take a Rs1,600 crore hit to its quarterly earnings to account for previous royalty payments to Indian states

RBI’s Viral Acharya proposes new steps to tackle bad loans

RBI deputy governor Viral Acharya outlines potential solutions, including setting up a national asset management company, to buy the bad loans

India may take at least 5 to 10 years to transition to a less-cash economy: Kotak Securities

Based on the Bank of International Settlements (BIS) data, the absolute value of transactions performs poorly considering the size of the population.

Yahoo salvages Verizon deal with $350 million price cut

Revised agreement eases investor worries that Verizon would demand a discount of at least $1 billion or scrap the Yahoo deal

Will India see an pick-up in investment cycle now?

The cement sector is also operating at 55-60% capacity in the south and a little higher in other parts of India.

Public Accounts Committee calls heads of public sector banks to discuss bad loans

Besides, representatives of the Finance Ministry will also be present at the discussion over issue of bad debts in the public institutions.

Competition Commission rejects complaint against Dhanlaxmi Bank

For the case, Competition Commission of India (CCI) considered 'market for provision of loan against property in Delhi' as the relevant one.

IDBI Bank to sell stake in non-core businesses

The board of the bank has approved in-principle the proposal to divest some of its non-core investments subject to compliance with all applicable laws and regulations, said IDBI Bank.

Tpot Cafe looks to invest 1 mn to start 50 stores in 3 months

Tpot Cafe currently runs 25 outlets in Delhi / NCR and it has monthly revenue of around Rs 50 lakh.

Viacom18 cracks down on counterfeit merchandise

Viacom18 has undertaken an investigation that led to a raid in Mumbai’s Abdul Rehman Street where Shubham Gifts and Eliperi Stationery, were found t..

How the demonetisation spurred increase in organised retail activity

Demonetisation has been a bold move and while it has had its ups and downs, it bodes well for the organised retail sector overall.

From Amazon, Flipkart to Snapdeal, 49 e-commerce firms log over losses

Balance sheets of India’s e-commerce firms have red ink splattered all over them and it doesn’t look like the bleeding will stop anytime soon, reports fe Bureau in New Delhi.

Our largest selling variant of coke is CokeZero and Diet Coke"

Coca-Cola India is supremely positive about its portfolio, which caters to all the choices across its customer base.

Bharti Airtel, Vodafone India and Idea Cellular may have to take a call on data rate cut to counter Jio offer

Jios latest move is clearly aimed at luring Airtel, Vodafone and Ideas top-end customers, among whom a section is reckoned to be already using Jio as a second SIM.

Vodafone moves court against Reliance Jio's free voice calls offer

Vodafone contended before Justice Sanjeev Sachdeva that inter-connection usage charges (IUC) form the floor price as per tariff orders of the Telecom Regulatory Authority of India (TRAI) and "one cannot go below that".

India aims to bring broadband to every village by 2018: Telecom Secretary JS Deepak

India aims to bring high-speed digital connectivity to every village by 2018 and is keen to share expertise in the area with other nations, the government said on Tuesday. 'India's...

Thanks to Reliance Jio! India becomes top mobile data user

Reliance Industries (RIL) Chairman and Managing Director Mukesh Ambani on Tuesday said Reliance Jio has crossed the 100 million customer mark since its launch on September 5.

Indian telecom products and services should become the number one choice for ASEAN countries: Manoj Sinha

For ASEAN countries Indian telecom products and services should become the number one choice as they accelerate the digital connectivity initiatives, Minister of Communications, Manoj Sinha has said

Birth of telecom giants: New pecking order can make battlefield more daunting for Reliance Jio

If RCom-Aircel, Tata Tele and MTS merge, they could create a strong No. 3 telco behind the proposed Vodafone-Idea combine and Bharti Airtel.

Pepe Jeans plans to go big on shoes, innerwear categories, eyes Rs 900 cr turnover in 2017

When British denim wear brand Pepe Jeans came to India, the company never anticipated that India would turn into one of the most profitable markets for them, worldwide. In 2016, Pepe Jeans, India doubled its business to Rs 730 crore in retail value, and sold roughly 4.5 million pieces of apparel. As business boomed, Pepe Jeans, India, under the able leadership

Oils surpass dairy as India's largest packaged food item, as consumers prioritise health over expenses

Sales of cooking oils increased 22 per cent at Rs. 1.05 lakh crore, outpacing dairy that was below Rs.1 lakh crore during 2016, according to Euromonitor International.

Piramal eyes 3rd spot in domestic OTC market by 2019

Consumer Products division has grown by 44% in 9 months to December 2016

Britannia, Greek bakery company ink pact

Britannia on Tuesday said it has signed an memorandum of understanding (MoU) with Greece's cakes and confectionery major Chipita and it is in talks with the company to finalise joint venture.

InnoVen Capital looks to invest in healthcare services firms

The firm, which closed deals worth Rs 110 crore at the end of the third quarter of the current fiscal, is now considering companies that are yet to raise funding from traditional risk capital.

Nestle India plans to intensify health push

In the next two quarters, Nestle India will introduce healthcare products suitable for nutritional needs of the ageing population

BREAKINGVIEWS-Unilever exposes holes in UK industrial strategy

New York, Feb 20 (AP) Shares in Unilever, the owner of brands like Hellman's, Lipton, and Knorr, are down sharply after rival Kraft Heinz withdrew a USD 143 billion takeover offer.

Nestle looks to diversify into premium coffee, cereals

Nestle India had reported a decline of 8.66% in its standalone net profit to Rs167.31 crore for the December quarter

Warehouse leasing growth continues in 2016, demand picks up

Companies from the engineering and manufacturing sector and e-commerce leased 22% of the total space transacted during 2016.

Procter Gamble to sharpen focus on gender equality

New Delhi, Feb 10 () Leading global consumer products company Procter & Gamble today said it will expand its supplier base and sourcing from women in its move to support gender equality globally.

Ecommerce start-up Salebhai sells regional nostalgia to homesick migrants

E-commerce start-up Salebhai sells regional favourites to nostalgic migrants

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