INDIA NEWS | Wed, 28 Oct 2020, 8:17AM ISTToday, first phase of Bihar Vidhan Sabha elections, rising coronavirus cases, oil prices, July-September quarter earnings, rupee movement and other global cues will set the market direction.
INDIA MARKET | Wed, 28 Oct 2020, 8:07AM ISTShare Market News Today | Sensex, Nifty, Share Prices LIVE: Global cues were mixed during the early hours of trade with KOSDAQ trading higher but TOPIX, Hang Seng and Shanghai Composite were down with losses.
INDIA NEWS | Wed, 28 Oct 2020, 7:59AM IST Clearly relishing the chance to strike back at his successor, former president Barack Obama has been willing to throw punches on behalf of Joe Bidens unity-focused campaign.
INDIA NEWS | Wed, 28 Oct 2020, 7:57AM IST Tata Motors, Hero MotoCorp, ICICI Prudential Life Insurance Company, TV18 Broadcast, Castrol India, Sandhar Technologies, JM Financial, Nippon Life India Asset Management are also among the stocks in focus today
GLOBAL NEWS | Wed, 28 Oct 2020, 7:52AM ISTThe nearly 150-year-old Salt Lake Tribune and The Deseret News, founded in 1850, said this week that they would continue publishing online and move to weekly printed editions at the end of the year.
INDIA MARKET | Wed, 28 Oct 2020, 7:50AM IST As per the estimates of Kotak Institutional Equities the company's US business may increase $20 million quarter-on-quarter (QoQ) led by Ciprodex and other recent launches.
INDIA MARKET | Wed, 28 Oct 2020, 7:49AM ISTU.S. crude oil and gasoline stocks rose last week, data from industry group the American Petroleum Institute showed, with crude inventories rising by 4.6 million barrels to about 495.2 million barrels, against analysts' expectations in a Reuters poll for a build of 1.2 million barrels.
INDIA MARKET | Wed, 28 Oct 2020, 7:43AM ISTTraders' body CAIT raised objections over Aditya Birla Fashion and Retail's plans to raise Rs 1,500 crore by issuing 7.8 per cent stake to Walmart-owned Flipkart Group.
INDIA NEWS | Wed, 28 Oct 2020, 7:43AM ISTBihar Election 2020 PM Modi Rally: In total, the Prime Minister will address 12 rallies - of these, 3 have been done. After today, he will address another set of rallies on November 1.
GLOBAL NEWS | Wed, 28 Oct 2020, 7:41AM ISTThe nearly 150-year-old Salt Lake Tribune and The Deseret News, founded in 1850, said this week that they would move to weekly printed editions at the end of the year.
INDIA MARKET | Wed, 28 Oct 2020, 7:37AM ISTThe state is currently ruled by a coalition that includes Modi's BJP and the election will be the first political test of how voters view his handling of the pandemic
INDIA MARKET | Wed, 28 Oct 2020, 7:36AM ISTMicrosoft beat Wall Street estimates for quarterly revenue which rose 12% to $37.2 billion, as the software giant benefited more from a global shift to work and learning from home.
INDIA NEWS | Wed, 28 Oct 2020, 7:30AM ISTICICI Bank on Tuesday said the US Securities and Exchange Commission (SEC) has concluded a probe into the banks bad-loan provisioning exercise and decided not to take any enforcement action against it.
INDIA NEWS | Wed, 28 Oct 2020, 7:18AM ISTEconomists, including those at the Reserve Bank of India, attributed the recovery to pent-up demand after a strict lockdown imposed in March to contain the coronavirus outbreak
INDIA BUSINESS | Wed, 28 Oct 2020, 7:16AM ISTIndia has the option of filing an appeal against the decision of the Hague-based Permanent Court of Arbitration (PCA) at the Singapore-based appellate tribunal. Solicitor general Tushar Mehta has reportedly favoured appealing against the award.
INDIA NEWS | Wed, 28 Oct 2020, 7:15AM ISTAs India and the US announced on Tuesday signing of the crucial military pact, Basic Exchange and Cooperation Agreement (BECA), visiting US secretary of state Michael R Pompeo recalled the Galwan valley incident in June and said the US would stand with the people of India to confront threats to their sovereignty and to their liberty".
INDIA MARKET | Wed, 28 Oct 2020, 7:12AM ISTCoronavirus update: Maharashtra has 1,654,028 coronavirus cases, Andhra Pradesh 811,825, Karnataka 805,947, Tamil Nadu 714,235 and UP 472,075. Stay tuned for coronavirus India LIVE updates
INDIA MARKET | Wed, 28 Oct 2020, 7:10AM IST The Dow Jones Industrial Average fell 222.19 points, or 0.8%, to 27,463.19 and the SP 500 lost 10.29 points, or 0.30%, to 3,390.68. The Nasdaq Composite added 72.41 points, or 0.64%, to 11,431.35.
INDIA NEWS | Wed, 28 Oct 2020, 7:06AM IST First Lady Melania Trump denounced what she called Joe Bidens socialist agenda and criticized media coverage of idle gossip and palace intrigue" in the White House.
INDIA NEWS | Wed, 28 Oct 2020, 7:03AM ISTBihar Assembly Phase 1 Polls Latest Updates: As per the Election Commission, 2.14 crore people are eligible to cast their vote in the assembly elections. Of these, 1.01 crore are women and 599 are from the third gender community. Among the 1,066 candidates, 952 are men and 114 women.
INDIA NEWS | Wed, 28 Oct 2020, 7:00AM ISTWhat is needed is rationalised channel pricing, improved rating and a credible, self-regulatory mechanism. And this, in turn, requires broadcasters, Trai and the I&B ministry to get their act together
INDIA NEWS | Wed, 28 Oct 2020, 6:50AM ISTBihar Assembly Phase 1 Polls Latest Updates: As per the Election Commission, 2.14 crore people are eligible to cast their vote in the assembly elections. Of these, 1.01 crore are women and 599 are from the third gender community. Among the 1,066 candidates, 952 are men and 114 women.
INDIA NEWS | Wed, 28 Oct 2020, 6:41AM ISTBihar Election 2020: Among the key constituencies going to polls in the phase one are Imamganj, Sasaram, Dinara, Gaya, Munger, Jamui, Mokama, Jamalpur, Chainpur and Buxar.
INDIA MARKET | Wed, 28 Oct 2020, 6:35AM ISTCoronavirus update: Maharashtra has 1,654,028 coronavirus cases, Andhra Pradesh 811,825, Karnataka 805,947, Tamil Nadu 714,235 and UP 472,075. Stay tuned for coronavirus India LIVE updates
INDIA NEWS | Wed, 28 Oct 2020, 6:21AM ISTIndias largest e-grocer BigBasket is in advanced negotiations with the Tata Group to divest a majority stake in favour of the salt-to-software services conglomerate, according to three people in the know. The proposed deal, which is still evolving, could see the Bengaluru-based company sell around 50% stake for about $1 billion, the sources said.China's internet giant Alibaba, which holds around 26% stake in BigBasket, is expected to sell its entire shareholding in the company along with a group of early backers, said another person who did not want to be identified. Other investors in the e-grocery company include Ascent Capital, CDC Group and the Abraaj Group.While the talks have been ongoing for some time, it is still work-in-progress as far as the specifics go. It may eventually not lead to a transaction at all, said one of the people cited above.Tata Group executives, privy to the discussions, said the conglomerate is likely to execute the deal through its digital arm Tata Digital and that (the investment in BigBasket) "is just step one of several other similar tieups and collaborations that the group is looking to strike (in order) to scale its digital presence". ET had earlier reported that the Tata Group has held talks with BigBasket as well as ecommerce companies Snapdeal and IndiaMart.Read: Tata Group evaluates M&A opportunities to scale up ecomm play "This is not an easy deal to pull off with so many investors involved but there should be some finality to the talks in a couple of weeks," the sources said.Tata Sons did not comment on ETs query. Emailed questions sent on Monday to Hari Menon, cofounder and CEO of BigBasket, as well as to a spokesperson for Alibaba did not elicit a response.Separately, BigBasket has also held discussions, sources said, to rope in a bunch of new investors like Singapore's Temasek, US-based Generation Investment Management, Fidelity and Tybourne Capital, for a $350-400 million financing round. The fundraising process, which began earlier this year, coincided with Reliance Industries announcing its intent to push grocery ecommerce through JioMart.Amazon and Flipkart are the other two deep-pocketed competitors in the grocery segment, which has recorded exponential growth during the pandemic-induced lockdowns. 78902628A Tata Group executive speaking to ET on the condition of anonymity said the conglomerate is looking to acquire internet companies as "scalability of business through a combination of online and offline is seen as critical for future growth"."Currently, none of the group's (Tata Groups) retail businesses have that depth of scale in the ecommerce space," the person said.Read: Groceries to kick off Diwali online battleIn recent times, Tata Sons has also committed significant capital to its retail arms such as Trent, which operates Westside and Landmark, a bookstore chain, as well as Infiniti Retail, a subsidiary of the Tata Group that runs Croma stores.The Covid-19 led lockdown has helped players like BigBasket shore up order volumes amid a significant shift towards online shopping. At the start of the lockdown in April, BigBasket fulfilled 160,000 orders daily but its base of consumers has steadily grown since then, with the retailer clocking Rs 750-900 crore in monthly sales. The company is expected to close this fiscal year with about Rs 9,000 crore in gross sales.