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Wednesday, July 05, 2017

Jul 5, 2017 - Market Now: Auto stocks up; M M, Tata Motors among top gainers

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Amazon showed off its automated Go grocery store concept at the end of last year, but a few months later postponed any actual shop openings. One Chinese startup, however, is steaming ahead with its own version - and has already opened a handful of staffless convenience stores where customers open the door and pay the bill with their phone. Last month, the startup opened its first outlet in Shanghai after a few months of testing in its home city, Zhongshan, in southern China. Although small, the Bingobox store stocks hundreds of items - including a small selection of fresh foods. Pictures and more details here.

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Market Now: Auto stocks up; M M, Tata Motors among top gainers

Maruti Suzuki was the first auto company that reduced the prices of select models after GST became reality.

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Top intraday trading ideas for afternoon trade for Wednesday, 5 July 2017

Ramco Industries is a 'Buy' call with a target price of Rs 252 and a stop loss of Rs 237.

Market Now: Banking stocks in green; Yes Bank, Axis Bank among top gainers

In the Nifty50 pack, 37 stocks were trading in green, while 14 stocks were in red.

Ashok Leyland pares Tuesday's losses, up nearly 2%

Promoters held 44.29 per cent stake in the company as of Mar 2017.

Expect Nifty50 earnings growth rate in mid-teens over next few years: Aditya Makharia, Motilal Oswal AMC

'See healthy growth in private sector banks, consumer discretionary and staples following GST

Insolvency cases: High provisioning fears subside among banks

Banks are in the middle of taking 12 large companies to National Company Law Tribunal (NCLT) after RBI identified these accounts for insolvency proceedings

Essar Steel challenges RBI's insolvency move in Gujarat high court

Essar Steel moves Gujarat HC against insolvency proceedings initiated against it at the National Company Law Tribunal (NCLT) by its lenders after being directed by RBI

HDFC has Rs 909 crore exposure in a insolvent account

In June 2017, RBIs internal advisory committee had identified various accounts for reference under insolvency and bankruptcy code

Is gold a luxury or a necessity in India?

Even though the rich tend to buy more of it, possession of gold is a universal phenomenon across income classes, according to the ICE 360° survey

GST to provide huge impetus to economy: India Inc

GST impact on octroi check posts: The abolition of check posts due to GST is expected to give a huge relief to truckers which in turn will help in massively boosting the Indian economy.

Reliance Jio's annual report reveals hidden expenses, and even some revenues

When all costs are accounted for, the business model of Reliance Jio is anything but low cost

What are ITC's investors smoking?

The benefits from GST may take time to show up, and the regulatory risk of tobacco control remains very much alive and should be watched out for

Profligate state-level spending could derail Modi's reform plans

One single big negative factor has kept Indias finances essentially unchanged from 2012. Whats more, the problem is likely to get even worse.

Private equity firms invested record $11.3 billion in India from January to June

This is in contrast to early-stage venture investments that have dropped to $275 million across 78 deals during April-June, making it the weakest quarter for VC fund investments in the past years.

Devendra Fadnavis lists numbers of farm loan waiver beneficiaries

Maharashtra CM Devendra Fadnavis tweets district-wise numbers of farmers who are likely to get their farm loans waived under the Rs34,022 crore debt-relief scheme

AION buys stake in Kishore Biyani's Ryka Commercial Ventures

AION Capital Partners will invest $100 million to acquire the stake in Ryka Commercial Ventures, the holding company of some Future Group firms

Arundhati Bhattacharya: PSB mergers should be between equals

There cant be a one-size-fits-all approach, and the temptation to merge the weaker ones with the stronger ones should be resisted as it leads to the stronger one losing strength, she said.

Unicorn India Ventures aiming for final close of Rs100 crore fund this quarter

Co-founder Anil Joshi says Unicorn India has received commitments of Rs100 crore for the final close and it's in the process of closing the documentation

Carlyle in talks to invest $200 million in UST Global

UST Global had approached several big PE firms including Blackstone Group, Apax Partners and Bain Capital, but the talks did not move further.

Govt plans to merge smaller trading firms with MMTC

After the oil, defence and construction sectors, the government is likely to consider merging of state-owned companies in the trading space. Officials said a proposal to wind up State Trading Corporating and PEC, and merging their assets with the

Yes Bank clinches new pact with Santander in UK

The memorandum of understanding with India's fourth largest private sector bank in move aimed to help boost UK-India trade

Future support to depend on how India garners infrastructure funds: ADB

ADB's future financial support to India will depend on how the country mobilises infrastructure funding, especially from private sector through PPPs.

Cyrus Mistry, firms to face Rs500 crore defamation suit

Tata trustee R. Venkataramanan, in the defamation suit, says Cyrus Mistry's email after his ouster has caused irreparable damage to his reputation

Sebi hikes foreign investment limit in government bonds

Sebi raises FPI investment limit in government bonds to Rs187,700 crore to boost inflow of foreign investments into Indian markets

HSBC said to approach former AIG boss Peter Hancock to be its next CEO

HSBC's new chairman Mark Tucker is considering internal and external candidates for the CEO's post, and former AIG boss Peter Hancock is a likely candidate for the job

ICICI Bank, Fairfax join venture terminated ahead of ICICI Lombard IPO

With the proposed IPO, ICICI Lombard is all set to become the first private sector general insurer in the country to go public

Net income of Nifty companies fell after new accounting standards: PWC

Adoption of Indian Accounting Standards (Ind AS) caused a 3.5% decline in the net income of companies adding up to Rs9,444 crore in FY2016, said PWC

ICICI Prudential to take over Sahara Life's insurance business

The transfer of Sahara Life's business to ICICI Prudential should be completed in a couple of months, says an Irdai member

GST: Small retailers still selling mobile phones, gadgets at old rates

Consumer electronics industry insiders said backdated billing may continue for next couple of days till fresh stock billed on GST rate arrives in the market.

Snapdeal board rejects $800-$900 million buyout offer from Flipkart

The development comes days after Flipkart, the countrys largest online retailer, completed its commercial and legal due diligence of Snapdeal.

Subway: What's behind the sandwich chain's UK success?

Subway is already the UK's largest fast food chain and is looking to open another 500 stores by 2020.

Zara crosses Rs 1K-crore mark despite competition

Inditex Trent has replicated a globally successful model in India -creating affordable copies of the latest fashion or designer wear in double-quick time.

Plintron to partner BSNL for VNO services in India

Plintron today empanelled itself with BSNL and has become the first Virtual Network Enabler (VNE) for enabling the launch of Virtual Network Operators in India.

The Latest TRAI Report Shows India Now Has 46 Mobile Subscribers For Every Landline User

The number of mobile users rose by more than 11 percent just last year.

'Rooted' Phones May Soon Have No Place In Modi's Cashless India

The issue is under discussion but banks have given in-principle nod, says AP Hota of NPCI.

Vodafone WhatsApp take local language initiative

MUMBAI: One of the leading telecom operators is looking to promote and educate customers about the local language features and has rolled out an animated step-by-step approach to handhold customers.

Telecom sector largest debtor in India at Rs 4.6 lakh cr: RBI

According to Fitch, consumption growth fell substantially to 7.3 per cent, from 11.3 per cent in the fourth quarter of 2015-16.

Foxconn plans to invest up to Rs 32k crore in India

Foxconn chairman & CEO Terry Gou has already committed more investments in India during his visit here, and has also spoken about partnerships with lo..

Disruptive pricing to continue for a year in India's telecom market: GSMA's Mats Granryd

'In India, spectrum, taxation and regulation is a problem which is also evident in other markets. Taxation should be predictable and fair.'

Top brands Amazon, Foodpanda, Vodafone, HUL under fire for wrong ads

The names of leading brands such as FMCG giant HUL, e-retail behemoth Amazon India, Godrej Consumer Products and telecom major Vodafone figure on the latest ASCI list of companies against which complaints of consumers have been upheld for misleading ads.

GST effect: Delhi's kirana store owners are worried about shrinking profits

Manufacturers can sell old stock, under new MRP, by putting fresh sticker till September 30, Consumer Affairs secretary Avinash Srivastava said.

Andhra Pradesh excise minister calls beer a 'health drink', gets heckled

Kothapalli Samuel Jawahar, who was discussing the new state excise policy on a popular Telugu television channel, said the government will take steps to promote beer because it is...

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