Traders' body CAIT on Thursday asked the government to prohibit online marketplaces from selling drugs in the country, a day after e-retailer Flipkart announced its entry into the medicine vertical. In a statement issued on Thursday, the Confederation of All India Traders (CAIT) said it has written to commerce minister Piyush Goyal and health minister [...]
Tata group on Thursday launched possibly India's first super app, Tata Neu, that brings together grocery-to-hotel-to-airline ticket booking and medicine on a single platform, rivalling similar products from Amazon and Walmart's Flipkart. In a social media post, Tata Sons Chairman N Chandrasekaran said Tata Neu combines the traditional consumer-first approach of the group with the [...]
The Reserve Bank of India on Thursday said existing banks can open digital banking units to offer products and services in both self-served and assisted mode round-the-clock. In the Union Budget, the government announced the setting up of at least 75 such units in 75 districts to commemorate 75 years of the country's independence as [...]
Tata Motors on Thursday said it has bagged an order for 1,300 commercial vehicles from VRL Logistics. The order comprises medium and heavy commercial vehicle and intermediate & light commercial vehicle range, suited for logistics operations of VRL Logistics, the Mumbai-based automaker said in a statement. The vehicles were selected basis the superior drivability, high [...]
BSE Technologies, a subsidiary of BSE, has received authorisation from capital markets regulator Sebi to act as a KYC Registration Agency (KRA). KRA is a Sebi-regulated intermediary that grants the market participants authorisation for investors' Know Your Client (KYC) that will be mandatory for investment in the securities market. "We thank Sebi for reposing its [...]
Shares of IDFC tanked more than 7 per cent in early trade on Thursday, a day after the company announced the divestment of its asset management business to a consortium of Bandhan Financial Holdings, GIC and ChrysCapital for Rs 4,500 crore. The stock tumbled 7.16 per cent to Rs 63.50 on the BSE. At the [...]
Two entities -- Tamara and Pace -- on Wednesday offloaded shares of casual dining chain Barbeque Nation Hospitality for an estimated Rs 669 crore through open market transactions. Those who picked up the shares of the Bengaluru-based casual dining chain are -- ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, BNP Paribas Arbitrage, Massachusetts Institute [...]
Auto components major Motherson Sumi Systems Ltd (MSSL) on Wednesday said it has successfully completed the acquisition of a majority stake in Bengaluru-based CIM Tools Private Ltd. In October last year, MSSL had announced acquiring a 55 per cent stake in CIM Tools Private Limited (CIM), which is a leading supplier in the aerospace supply [...]
Coffee Day Enterprises Ltd on Wednesday said it has defaulted a total of Rs 479.68 crore on repayment of loans and unlisted debt securities in the quarter ended March 31, 2022. In a regulatory filing, the company said it has defaulted Rs 224.88 crore on repayment of loans or revolving facilities like cash credit from [...]
Lenders on Wednesday discussed a proposal for 90 days of extension to close the resolution process of debt-ridden Reliance Capital Ltd (RCL) promoted by the Anil Ambani Group, sources said. The Committee of Creditors (CoC) of Reliance Capital met on Wednesday to discuss bids received. As per the Insolvency and Bankruptcy Code (IBC), the administrator [...]
