BUSINESS
Flipkart introduces SuperCoin Pay across 5,000 partner stores
SuperCoin Pay will enable customers to pay their bills at the partner stores using the SuperCoins they have earned on Flipkart. The company said that all benefits can be accessed by simply scanning a QR code at the partner store using the Flipkart app. Customers can also access the entire list of stores and partner brands on the Flipkart app under ‘Rewards store' in the ‘SuperCoin' section.
Reliance to embed its e-commerce app JioMart into WhatsApp within 6 months
The integration will allow a seamless operation of shopping experience from within the messaging platform of WhatsApp. The user will not need to switch to other applications in order to shop. This phenomenon will also help Reliance catapult its Retail branch and compete with other retail majors such as Amazon and Flipkart. This will prove to be a real threat to Amazon’s domination in the Indian retail market.
Total to acquire 20% stake in Adani Green Energy
The deal will be completed with Total acquiring shares held by the Adani Promoter Group in AGEL. The transaction marks the deepening partnership between the Adani Group and Total -- in the transition and green energy fields in India. In 2018, Total and Adani embarked on the energy partnership with investment by Total in Adani Gas Limited, city gas distribution business, associated LNG terminal business and gas marketing business.
Sensex down 250 points; auto, metal stocks plunge
Heavy selling pressure was witnessed in auto, metal and oil and gas stocks. Around 10.10 a.m., Sensex was trading at 48,777.74, lower by 256.93 points or 0.52 per cent from its previous close of 49,034.67. It opened at 49,061.22 and has so far recorded an intraday high of 49,122.23 and a low of 48,691.63 points
Petrol, diesel price rise again by 25p/ltr after 3 days pause
The increase in pump price of petrol and diesel came on a day when global oil prices have a glimpse of softening with crude falling below $55 a barrel after almost a week of hovering above that range. With Monday's increase, petrol is being sold at Rs 84.95 a litre in Delhi from previous day price of Rs 84.70 a litre. Similarly, diesel prices also increased to Rs 75.13 a litre, up from previous day's level of Rs 74.88 a litre.
Chinese economy grows 2.3% in 2020 , slowest in over four decades
Beijing on Monday reported a gross domestic product (GDP) increase of 6.5 per cent in the fourth quarter of 2020. However, the National Bureau of Statistics warned of a "grave and complex environment both at home and abroad", with the pandemic having a "huge impact".
Committee of Creditors approves resolution plan of Piramal: DHFL
The voting of the lenders ended on Friday. Piramal received 94 per cent of the votes from the Committee of Creditors (CoC). The minimum requirement for winning a bid is 66 per cent votes. The other major contender, US-based Oaktree Capital secured around 45 per cent of the votes.
Excise duty collection surges 48% in FY21 on high fuel levies
The excise duty collection during the first eight months of the current financial year was over Rs 1.96 lakh crore, compared to over Rs 1.32 lakh crore collected during April-November FY20, official data showed. The collection in November 2020 was highest so far in the financial year 2020-21 at Rs 35,703 crore. In November 2019, excise duty collection stood at Rs 18,948 crore.
Pawan Hans' EoIs submission deadline extended to February 18
The original deadline for the submission of EoIs was January 19. After repeated failed attempts to disinvest public sector helicopter service provider, Pawan Hans, the Central government again initiated the process of its sale for the Mini Ratna company last month with the release of the Preliminary Information Memorandum.
Bank credit to manufacturing muted amid pandemic
According to the Financial Stability Report of the Reserve Bank of India for January, credit growth in the manufacturing sector in October 2020 contracted by 2 per cent, while that in construction witnessed a growth of 5.1 per cent and credit to trade, hotels and restaurants was up 13.9 per cent.
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