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Energy and telecoms conglomerate Reliance Industries will acquire an 87.6 per cent stake in Shopsense Retail Technologies, also known as Fynd, for Rs 295 crore ($42.33 million), it said in a statement.

The company said its wholly-owned subsidiary

National Pension System (NPS), a government-sponsored retirement planning instrument, gives the investor the option to set preferred allocation to different asset classes, such as government bonds, equity market instruments and corporate debt. In NPS account,

The country's forex reserves decreased by $727 million to $429.649 billion for the week ended July 26, led by a decline in foreign currency assets, RBI data showed on Friday.

The forex kitty had increased by $1.579 billion to a new lifetime high of $430.376 billion in the previous week ended July 19.

In the reporting week, foreign currency assets,

The rupee dropped by 98 paise to 70.58 against the dollar in opening trade on Monday, tracking weak opening in domestic equity market and unabated foreign fund outflows. Forex traders said, the US-China trade related concerns weighed on the investor community and kept pressure on the Indian rupee.  

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Jet Airways has extended the deadline for initial bids for the bankrupt airline to August 10 from August 3, a statement from the company said on Saturday.

Jet, once ranked among the country's biggest airlines, was forced to ground all flights

Amazon.com Inc is in talks with Reliance Industries' retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources with knowledge of the talks told Reuters on Friday.

Amazon's massive online presence could help

Indian equity benchmarks are set for a weak start in today's session as indicated by Nifty futures traded on the Singapore Exchange. The Nifty futures on Singapore Exchange also known as the SGX Nifty traded 0.67 per cent or 74 points lower at 10,941. The S-P BSE Sensex and NSE Nifty 50 Indexes ended Friday's highly volatile session higher led

The resolution plan of one of country's biggest shadow banking firms, Dewan Housing Finance (DHFL), may be delayed as its creditor DSP Mutual Fund has initiated legal proceedings against it, two banking sources told Reuters.

DHFL ran into trouble late last year as cracks in the

Government is infusing an additional Rs 10,000 crore in housing finance companies to boost lending in the sector, a government statement said on Friday, at a time when the shadow banking industry is under stress due to lack of liquidity.

"To further ease flow

Indians, traditionally known to save money, have of late shown a behavioural change in terms of managing their money as their financial surpluses have shrunk in the last couple of years.

A recent Reserve Bank of India (RBI) report said that although currency and deposits constitute more than half of the total assets held by households,

Passenger carrier IndiGo has announced the launch of a fourth direct flight on the Mumbai-Dubai route, starting from August 25, 2019. The airline will operate a late-night flight on Mumbai-Dubai route, it said in a statement. "The new flight is

State Bank of India (SBI) joined its peers in flagging concerns about tough domestic economic conditions and the stress the auto sector is under, as the country's largest lender by assets missed expectations for quarterly profit.

Rivals HDFC Bank Ltd and ICICI Bank Ltd too have warned of the negative

SBI or State Bank of India offers small account, which is for customers who do not have KYC (Know Your Customer) documents. However, there are many restrictions in operation of the account due to the relaxed KYC norms, according to SBI's website. This type

The last day to file income tax return (ITR) for the assessment year 2019-20 (financial year 2018-19) is August 31, 2019. The Income Tax (I-T) Department provides online facilities - through its e-filing portal- incometaxindiaefiling.gov.in - for assesses to file

The Supreme Court has given the central bank six weeks to report on whether WhatsApp had complied with data localisation norms as the Facebook-owned messenger gears up to launch a payments service in the country, a person involved in the matter said.

WhatsApp

Securities and Exchange Board of India (Sebi) on Saturday expressed concern over related party transactions, a method "frequently" employed by corporates for diversion of funds. The capital markets regulator also said another means of such diversion was extension of loans. "Related party transactions are being frequently used for

Internet names and registrations management major GoDaddy on Saturday named Aman Bhutani as the company's new Chief Executive Officer as Scott Wagner is set to step down from the post due to health concerns.

"It has been a great privilege to

Tracking a weak trend overseas and low demand from jewellers, gold prices on Friday declined by Rs 165 to Rs 35,630 per 10 gram in the national capital, according to the All India Sarafa Association. Silver, however, firmed up by Rs 370 to Rs 41,900 per kg on increased offtake by industrial units and coin makers. Traders said weak g

India Post or Department of Posts, the postal system of the country, provides a range of services. The Department of Posts offers several savings schemes with different interest rates. Interest rates on post office saving schemes move in line with the government's

Traditionally, gold shares an inverse relationship with equity markets. Other than physical gold, there are several gold investment products available in the market, such as electronic-gold (e-gold), gold exchange traded funds (gold ETFs) and Sovereign

The government is likely to put on hold a plan to raise the minimum public shareholding in listed companies, a source with direct knowledge of the matter said, amid concerns it could force the issuance of billions of dollars worth of shares.

Indian stock markets fell sharply when Finance Minister Nirmala Sitharaman announced the proposal

Private carrier Vistara has announced new international flights. Vistara will start daily direct flights on the Mumbai-Dubai and Dubai-Mumbai routes, it said in a press release. The new flights will start from August 21, according to the airline's statement. The carrier is offering an

The country's biggest carmaker, Maruti Suzuki India Ltd, has cut the number of workers it employs on temporary contracts following a plunge in vehicle sales, it told Reuters. The auto industry, which accounts for nearly half of India's manufacturing output, is going through one of its

The Reserve Bank of India (RBI) is likely to cut rates next week for a fourth time in 2019 as benign inflation gives it room to help an economy that is growing at its slowest in nearly five years.

If the RBI does cut by 25 basis points on

Concerns over the flight of foreign funds along with fears of further escalation in US-China trade war are expected to keep the domestic equity markets volatile during the upcoming week.

Even attractive valuations and an expected easing of the lending rate might not be enough

The rupee dived 54 paise on Friday to close at an over six-week low of 69.60 against the US dollar as soaring crude oil prices and a fresh flare up in US-China trade tensions weighed on emerging market currencies.

Global markets tumbled and safe-haven assets like the Japanese yen gained after

The S-P BSE Sensex and NSE Nifty 50 Indexes ended Friday's highly volatile session higher led by gains in HDFC, Bharti Airtel, Tata Consultancy Services, Infosys, Asian Paints and Maruti Suzuki. However, the gains were kept under check as Tata Steel, State Bank of India, ICICI Bank and ITC ended on a weak note. The Sensex fell as much as 411

Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning - not a single customer was in sight.

"There used to be close to 15-20 bookings each day, but now

ITC's net profit rose 12.6 per cent t Rs 3,173.94 crore in April-June period compared with Rs 2,818.68 crore during the same quarter last year, the country's largest cigarette maker said in an exchange filing.

Its revenue from sales rose 5.96 per cent to Rs 11,361.35 crore versus Rs 10,722.22 crore

Country's largest mortgage lender HDFC or Housing Development Finance Corporation on Friday reported a net profit of Rs 3,203.10 crore for the April-June period. That marked an increase of 46.26 per cent compared to the corresponding period a year ago. In a regulatory filing during market hours, HDFC said its revenue from operations stood at Rs