Here are the Business Headlines as on 13th April 2017:
- Snapdeal tries to calm employees with average 15% pay hike, amid sell-off fears. Pay revision will be effective from April 1.
- GST coming July 1 despite calls for delay says Hasmukh Adhia, Revenue Secretary. Says firms should not count on a postponement of a tax more than a decade in the making.
- Dainik Bhaskar Group Chairman Mr.Ramesh Agrawal passes away at 73. Mr.Agrawal suffered a heart attack immediately after his arrival at the airport in Ahmedabad.
- MakeMyTrip and Ibibo, which merged last October, are moving to a new common office in the suburb outside the capital.
- Flipkart offers more ESOPs to make up for falling value. 40% of all eligible employees had been allotted ESOPs.
- Chemists lock horns with Abbott over expired drugs. The trade association of Chemists has also registered its complaint with regulators in Uttarakhand, Gujarat and Himachal Pradesh, where Abbott has manufacturing units, along with the Pollution Control Board of West Bengal.
- Bengal Chemicals posts profit after 63 years. Cutting procurement costs, blocking financial leakages helped it post Rs 4 crore gain.
- Equity NFOs pick up as market rally. Second half of FY17 saw a sudden surge in these, mainly in closed-end category.
- Cabinet panel clears decks for listing of 11 PSUs, including IRCTC.
- Petrol, diesel prices to change daily from 1st May. Fuel retailers including Indian Oil will change petrol and diesel prices daily in Puducherry, Visakhapatnam, Udaipur, Jamshedpur and Chandigarh.
- Retail inflation in March rose by an annual 3.81%, their fastest pace since October 2016, compared with February’s 3.65% increase.
- Participatory notes (P-Notes) are seeing rising interest among short-term foreign investors as general anti-tax avoidance rule (GAAR) became applicable from 1st April.
- Jio seeks highest penalty against Airtel, Idea, Vodafone for ‘violation’ of rules. Jio said incumbent telcos were using “unfair and deceptive” ways and putting together customised retention offers for subscribers willing to leave them using MNP.
- Shrinking Industrial Production in February and High Retail inflation in March cause concerns. Rising fuel prices blamed for retail inflation.
- USD1bn dream being chased by TechM and Pininfarina of Italy where TechM is in operating control. TechM used the Design expertise of Pininfarina for TUV 300.
- Netflix and then Amazon Prime to be beamed through Airtel DTH.
- 6-6.5% revenue decline expected for Airtel/Idea due to onslaught by Jio.
- BigBasket is setting up separate warehouses to cater to businesses such as hotels, restaurants and caterers, a move that will increase sales of private labels.
- Amazon India has received RBI approval to launch its own digital wallet, paving the way for the online retailer to gain a slice of India’s fast-growing digital payments business. (though Amazon is a global biggy, we bring their news here because they are new to setting shop here and each move by them is going to impact eComm startups).
- EzCred, a Fintech company shall offer small loans to start association with people who have no credit history and offer credit on point of sale. Operation start in April.
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