Tag Archives: Paytm

McDonald’s in trouble again, RCom enters an awaited resolution, Mobile Wallets KYC extended- Weekly Digest #58

Monday- 25th December 2017

  • Serial entrepreneur C Sivasankaran is set to take the DoT to the Supreme Court in the wake of the 2G case acquittals, seeking ₹3,400 crore in damages that he lost after the apex court had cancelled 122 licences, including six of STel’s in 2012.
  • HDFC Ltd and its JV partner Standard Life Investments to raise ₹4,000 crore by selling a 10% stake in asset management company HDFC Mutual Fund.
  • SoftBank executive Lydia Jett, who recently stepped down as a director at Snapdeal, joined the board of Flipkart. This comes after the merger talks between the two e-commerce companies failed.
  • McDonald’s former JV partner Vikram Bakshi said in a statement that nearly all outlets of the fast-food chain in east India has been shut and several others in the north are on the verge of close down due to discontinuation of supplies by its logistics partner.


Tuesday-  26th December 2017

  • RCom to sell its telecom assets, including spectrum, towers and fibre, worth ₹25,000 crore by March 2018 to pre-pay lenders and exit the ongoing strategic debt restructuring programme. It announced it had reached an out-of-court settlement with CDB.
  • After RCom announced its plan to sell off its assets, its shares rose 31% to ₹21.33. The Sensex went past 34,000 points mark to close at 34,010.61 points. The Nifty ended up 38.50 points at 10,531.50.
  • Connaught Plaza Restaurants, a JV between Vikram Bakshi and McDonald’s to sue its logistics partner, Radhakrishna Foodland for abruptly halting supplies to its stores in North and Eastern areas due to alleged non-payment of dues. The requirement of a 30d notice was not met as per the CPR.
  • The insolvency professional supervising the Alok Industries bankruptcy process has called for fresh bids to resolve the ₹29,000-crore default to attract more bidders for the textile company.
  • SEBI has imposed a penalty on 63 Moons Technologies, formerly known as Financial Technologies, for failing to seek prior approval for the name change from stock exchanges.


Wednesday-  27th December 2017

  • The Aion Capital-JSW Steel consortium submitted a ₹3,500-crore resolution plan for bankrupt Monnet Ispat and Energy that involves paying ₹2,500 crore to lenders and an equity investment of ₹1,000 crore.
  • Lupin Ltd has dragged the Government of India to court, claiming the stock lying in its godowns could face double taxation when it’s sold due to GST regulations.
  • Japanese drug-maker Daiichi Sankyo has alerted regulatory bodies and the stock exchanges against any potential stake sale in the Fortis hospital chain by the promoters, the Singh brothers, saying such a transaction would violate a Supreme Court order.
  • The SEBI has asked Axis Bank to strengthen its internal processes and systems after the regulator noticed leakage of price-sensitive information relating to financial results on WhatsApp groups before they were officially announced.
  • Castex Technologies, a subsidiary of automotive component maker Amtek Auto with the debt of over ₹6,000 crore, has been led to the bankruptcy court by the SBI.


Thursday-  28th December 2017

  • Mukesh Ambani-led Reliance Jio Infocomm to buy the wireless assets of Anil Ambani’s debt-ridden RCom for about ₹24,000 crore, a deal that was signed on the 85th birth anniversary of  Dhirubhai Ambani.
  • The RBI has turned down the requests from banks to extend the deadline of Dec 31 for restructuring the debt of companies on a second list of bad loan accounts that it had issued in August.
  • Asset manager Brookfield and Kotak Mahindra group have jointly bid for 2,200 megawatts of power assets belonging to Jaypee Power Ventures, The deal is expected to be valued at an estimated ₹3,500-4,000 crore.
  • McDonald’s India claimed that it has not been able to verify if its outlets operated by CPRL in North and East India are complying with applicable standards of the firm or not, further adding that these restaurants need to be closed immediately.
  • US buyout giant KKR & Co gets an RBI approval to fully own an Asset Restructure Company in India


Friday- 29th December 2017

  • The market closed 2017 on a high with the Sensex rising 209 points to close at 34,057 points while the Nifty rose 53 points to close at 10,531 points. Tata Motors, Axis Bank and Tata Consultancy Services logging gains of about 3% each.
  • Finance Minister Arun Jaitley said in a statement that loan defaulters can bid for an insolvent entity or its assets during bankruptcy proceedings after paying interest due and making bad loan accounts operational
  • RBI extended the deadline for fulfilling mobile wallets KYC norms from December 31 to February 28, giving much respite to the mobile wallet companies and users.
  • The Interim Resolution Professional has moved the NCLT against the ailing media house Deccan Chronicle Holdings’ for creating hurdles in the insolvency proceedings.


Source: The Economic Times


DMart’s Historic IPO, Reliance’s Capital Gains, Delhi HC blocks Assets Sale- Weekly Digest #38

Monday- 6th March 2017

  • The National Company Law Tribunal said that the Mistry family’s firms aren’t qualified to file a petition alleging mismanagement of Tata Sons and oppression of minority shareholders.  A shareholder needs a stake of at least 10% to file a petition in NCLT.
  • Delhi HC told former Ranbaxy promoters Malvinder and Shivinder Singh that they will have to seek its permission before selling any of their unencumbered assets. This comes after Daichi moved to HC for blocking of the sale of assets till their penalty is paid by Singh Brothers.
  • Television broadcaster Star India has picked up a minority stake in Bengaluru-based media-tech startup Zapr Media Labs for an estimated value of $8 million.
  • Punjab National Bank is looking to sell an around 7% stake in mortgage lender PNB Housing Finance which will, in turn, raise an amount of estimated ₹1,200 crores.


Tuesday- 7th March 2017

  • Jasper Infotech, the owner of Snapdeal, is in negotiations with SoftBank Corp, its biggest shareholder, to raise an amount of $100-150 million. However, this can lead to a reduction in value of company below $3 billion.
  • Brookfield Asset Management is in talks with lenders  Jaiprakash Power Ventures to acquire the firm’s three power plants. The deal is estimated to be valued at ₹4,500-5,000 crores
  • Reliance Capital has sold its share in One97 Communications, the parent company of digital payments provider Paytm to China’s Alibaba in a deal estimated ₹275 crore. The return was 2650% from the investment.
  • Ahead of exit polls, Sensex slipped off its 2-year high to end a tad below the 29,000 mark. Nifty slipped to 8,947 points.


Wednesday- 7th March 2017

  • RBI has opposed a pact between the Tata Group and NTT Docomo aimed at resolving a two-year-old dispute between the two over the enforcement of a $1.17-billion arbitral award as it would amount to transfer of shares and was hence illegal.
  • Westinghouse conveyed its decision of proceeding with the plan to build six nuclear reactors in Andhra Pradesh in partnership with Larsen & Toubro to the Indian government at a recent meeting in Delhi after Toshiba Corp., the US company’s Japanese parent, to quit the business of setting up atomic power stations.
  • Axis Bank is withdrawing credit limits it had sanctioned to several merchants on online marketplace Snapdeal as Snapdeal finding itself victim to the competition in Indian marketplace against Flipkart and amazon and is struggling to raise fresh capital.
  • Hewlett Packard Enterprise has acquired San Jose-based Nimble Storage for $1.09 billion. Nimble Storage is listed as Nasdaq and founded by Varun Mehta and Umesh Maheshwari.
  • Uday Kotak has sold 2.76 crore shares from his personal stake in Kotak Mahindra Bank in two separate block deals to Canadian pension fund managers, Caisse de Depot et Placement du Quebec and Canada Pension Plan Investment Board (CPPIB) at ₹817 per share.


Thursday- 8th March 2017

  •  India has incorporated a new definition of `agriculturalist’ in the goods and services tax law to enable select farm items to be brought under the tax net nationwide. Registered buyers will have to pay GST on such goods on reverse charge basis.\
  • Debt-laden GVK Group faces a threat of its assets being auctioned off for the first time as it has defaulted on repayment of overdue debts.
  • Over 396 million equity shares of Reliance Industries (RIL), representing about 12.2% equity stake, changed hands on the BSE through three block deals. RIL closed at ₹1,287.35, down by ₹4.55 or 0.35% from its previous closing of ₹1,291.9 on the BSE.


Friday-9th March 2017

  • The index of industrial production (IIP) rose 2.7% in January on YoY basis. It had shown negative progress since demonetisation.
  • Retail chain DMart’s owner Avenue Supermarts’ IPO saw a historical mark as it roped in nearly ₹2 lakh crore. The 1,870-crore offer was oversubscribed 105.93 times and is behind Adani Ports’ oversubscription of 115 times.
  • Public sector lender Canara Bank sold 13.45% stake in its mortgage unit Can Fin Homes to Singapore-government backed Caladium Investment for ₹753.77 crore.
  • ITAT has ordered UK’s Cairn Energy Plc to pay ₹10,000 crore capital gains tax on the transfer of ownership from Cairn UK Holdings to Cairn India.


Source: The Economic Times


Service Charge optional, PayTm’s new investment, SEBI approves BSE’s IPO- Weekly Digest #29

Monday- 2nd January 2017

  • Industrialists Sunil Munjal and Saroj Poddar are in talks to buy a minor stake in digital payments platform, Paytm. Sunil Munjal is the chairman of Hero Corporate Services and Saroj Poddar is the chairman of fertiliser and engineering services conglomerate Adventz Group.
  • Anshu Jain, the former coCEO of Deutsche Bank has joined the New York-based investment banking firm Cantor Fitzgerald (CFLP) as the president.
  • Department of Consumer Affairs has made service charges billed by the restaurants as optional at the discretion of the consumers.
  • Banks stock saw a fall in prices in the market as investors took the selling stance on the stock.The SBI stock shrank about 2.50%, State Bank of Travancore fell 2.02%, and HDFC tumbled 3.4%.


Tuesday-3rd January 2017

  • Tata Sons has issued a notice to remove former chairman Cyrus Mistry from its board. Tata Sons is looking to severe the Mistry family’s direct involvement in the board decisions of the Tata Group’s holding company.
  • As per a top Government Official, Foxconn Technology’s plans to take over Nokia’s manufacturing facility in Tamil Nadu will not be affected by Indian Taxation regime.
    Foxconn had said that it won’t bear the tax liability slapped on Nokia’s plant.
  • According to its founder Vijay Shekhar, Paytm has received approval from the central bank to launch the Paytm Payment Bank. The first branch will open in Noida in Uttar Pradesh by next month
  • SEBI has given its final approval for IPO of Bombay Stock Exchange (BSE). It is expected to raise INR 1,200-1,300 crores and hit the market in the later part of January 2017.


Wednesday- 4th January 2017

  • In another effort against black money, the finance ministry has sent a joint secretary to Reserve Bank of India to coordinate the central bank’s currency chest operations. It also advised that at least 40% of banknotes are supplied to rural areas.
  • Novelis Inc, Atlanta-headquartered arm of Aditya Birla group flagship Hindalco is refinancing $1.8 billion of its term loans for a period of five-and-a-half years to lower borrowing costs.
  • Xiaomi India reported a $1 billion revenue for the year 2016, as its sales doubled in the offline market. Xiaomi had entered the Indian market just 2 years back and is currently ranked 4th in India.
  • Tata Power Co has appointed S Padmanabhan as its chairman, in place of Cyrus Mistry who resigned last month.


Thursday- 5th January 2017

  • Flipkart’s largest vendor, WS Retail reported 33% increase in sales of INR 13,921 crores for the year ended March 2016. WS Retail’s net profit surged to INR 5.2 crore from 84 lakh a year ago. The company accounts for nearly 90% of goods sold on Flipkart
  • Shares of Tata Motors rose more than 3% to their highest closing in two months on Thursday, after the automaker’s Jaguar Land Rover subsidiary reported strong US sales for December.
  • Apple Inc has confirmed its plan for an investment of $1 billion in a tech fund being set up by Japan’s SoftBank Group. SoftBank has said it is investing at least $25 billion in the fund.

Friday- 6th January 2017

  • Due to proposed changes in H-1B visa, Indian IT companies saw a plunge in their prices in the market. Investors are now cautious to buy stock of IT companies with operation in the US. Infosys fell 2.5%, TCS was down 2.2%, HCL Tech declined 3.55% and Tech Mahindra 3.8%.
  • Tata Sons has called an extraordinary general meeting (EGM) on February 6 to seek the removal of Cyrus Mistry from the board of the group’s holding company.
  • Founders of Fortis Health Care, Malvinder Singh and Shivinder Singh are looking to carry out elaborate transactions to divest management controls in all their key businesses to raise an amount of INR 5,500 crores and tide over the cash crunch at the group level. They will retain a significant minority stake in most of these companies.

Source: The Economic Times


Tata’s Battle continues, PayTm duped, Cashback on fuel- Weekly Digest #26

Monday- 12th December 2016

  • Malvinder and Shivinder Singh are in negotiations with private equity group TPG Capital to sell a 26% share in Fortis Healthcare, the country’s second-largest private hospital chain. The current market cap of Fortis Healthcare is  INR 7,909 crore.
  • Tata Industries removed Cyrus Mistry as director after a shareholder’s meeting. This is expected to be followed by similar voting in other group companies.
  • Indian Oil Corp announced that from Tuesday, consumers will get an assured 0.75% cashback on cashless payment for fuel from state-owned outlets. The cashback will be credited within 3 working days.
  • Online B2B commerce company OfBusiness has raised an amount of INR 75 crores in a round of funding led by Zodius Technology Opportunities Fund. This takes the total capital raised by the venture to INR 110 crores.

Tuesday-13th December 2016

  • Shareholders of Tata Consultancy Services voted in favour of the removal of Cyrus Mistry as the director on Tuesday. 93% votes were in favour of removal while only 7% voted against the proposition.
  • Chinese smartphone maker Nubia is looking to invest $100 million in India over the period of next five years to expand its operations in India.
  • DLF is looking to split the sale of its rental commercial property arm between US private equity major Blackstone Group and Singapore’s sovereign wealth fund GIC, each getting a 20% stake. Total sale is expected to fetch INR 12,000 crores.
  • Retail inflation fell to a two-year low in November owing to cash shortage following demonetization. It fell from 4.2% in October to 3.63% in November.

Wednesday- 14th December 2016

  • Shareholders of Tata Teleservices voted to remove Cyrus Mistry as a director from the company. This is the third straight day where Cyrus Mistry was voted out as a director.
  • VK Sharma, acting chief of LIC of India has been officially appointed as chairman and MD of LIC of India for five years after the Cabinet’s Appointments Committee recommended his candidature.
  • Nusli Wadia has sent a letter to the shareholders of Tata Motors regarding his removal as an independent director for his “totally independent” decision of backing the former chief, Cyrus Mistry.
  • Amazon launched its Prime Video service in India along with 241 other countries. In India, it comes at no extra cost for existing Amazon Prime subscribers. Introductory price is INR 500 for a year and later as INR 1,000 for a year.
  • Coal India’s stock corrected to INR 292.25 on Wednesday as many brokers slashed their target prices after a weak Q2 was reported by the company.

Thursday- 15th December 2016

  • Nusli Wadia has filed an INR 3,000 crore defamation suit against Ratan Tata and Tata Sons for the accusations imposed against him in public statements to shareholders.
  • Renowned Investor Rakesh Jhunjhunwala has invested in Mandhana Retail Ventures to acquire a 12.74% stake in the company. It holds the licence to manufacture Being Human’s merchandise.
  • Axis Bank has suspended its 24 employees and is now examining over 50 accounts under suspicion after some of its branches were investigated by Government agencies for suspicious transactions in the wake of demonetization.
  • Telenor is in talks with Idea Cellular for the sale of former’s India’s business to the latter. Telenor has marked down the value of its India unit significantly throughout the year.
  • Indraprastha Gas shares hit an all-time high of INR 911.17 per share after traders were bullish on this stock and brokers raised their target price.

Friday- 16th December 2016

  • The government has offered a final window for income declaration under Pradhan Mantri Garib Kalyan Yojana 2016, which will start from December 17, 2016, to 31st March 2017. The assessee will be charged 50% tax and 25% declared income will compulsorily be deposited into a non-interest account of Pradhan Mantri Garib Kalyan Deposit Scheme with the lock-in of 4 years.
  • The government is proposing an equalisation levy on the revenues of cloud computing companies and content providers from next financial year. This will be known as Google tax and companies like IBM, Microsoft, Amazon Web Services will fall under it.
  • CBI has filed a case against 15 people from Delhi after PayTm accused them of duping the mobile payment platform for INR 6.15 lakh for over 2 years.
  • Reserve Bank of India has reduced merchant discount rates for card payments below INR 2,000. It has also instructed banks to not levy charges on transactions up to INR 1,000 through USSD, IMPS or UPI. This comes as a welcome move in an economy facing aftermaths of demonetization.


Source- The Economic Times


Jio sets record, Note 7 fiasco, Alibaba’s entry window- Weekly Digest #18


Monday- 10th October 2016

  • Reliance Jio Infocomm announced that its subscriber has crossed the mark of 16 million customers within a month, making this a world record. It has surpassed the likes of Facebook, Whatsapp, and Skype in the pace of growth.
  • Primal Enterprise has entered into a deal with Janssen Pharmaceutica to acquire five injectable anesthesia and pain management products for a value of $175 million.
  • Samsung electronics has halted the production and distribution of Galaxy Note 7 after there were reported incidents of fire hazard in the replacement devices too. This has been the company’s worst recall situation.
  • Industrial output contracted 0.7% in August, marking decline second month in a row. It has been attributed mainly to a sharp decline in capital goods and muted mining activity because of the monsoon. Capital goods declined by 22.2%


Tuesday-11th October 2016

  • Paytm will spin off its marketplace business next month, a top company source said, setting the stage for China’s Alibaba to establish a direct presence in the hotly competitive Indian online retail space.
  • Since scrapping off the flagship device of Samsung, Galaxy Note 7, Samsung share price plunged 8% in the market, causing the company to lose the valuation by $18.8 billion.
  • The investigation wing of the income-tax department has slapped notices on at least five persons in Mumbai, asking them to disclose details of their offshore companies and financial structures in four tax havens -Jersey , Guernsey , Isle of Man and British Virgin Islands.


Wednesday- 12th October 2016

  • Russian energy giant Rosneft PJSC and global commodities trader Trafigura Group Pte have acquired 49% and 24% stake respectively in Essar Oil refinery, effectively leaving about 10% stake for the promoters, Shashi and Ravi Ruia.
  • French car maker Renault’s best-selling small car Kwid hit a bump has the company has recalled more than half the cars sold in India so far to carry out a preemptive and voluntary inspection.
  • Subhash Chandra-promoted Zee Entertainment Enterprises has entered into a deal to acquire Anil Ambani-owned Reliance Broadcast Networks for a value  of INR 1,872 crores.
  • Stepping up investments on projects, state-owned BSNL will pump in about Rs 2,500 crore during the second half of this fiscal in various projects such as the expansion of wifi hotspots, installation of mobile towers and strengthen core network.


Thursday- 13th October 2016

  • Tata Consultancy Services’ Q2 revenue grew at its slowest rate  in over a decade and missed already-low expectations. Shares of TCS closed 1.95% lower at INR 2,334 on the National Stock Exchange before the results were announced.
  • An influential section of the government is pushing for an additional investment of INR 60,000 crores in the infrastructure. Roads, railways and rural electrification will be among the main beneficiaries.
  • ICICI bank has raised an amount of INR 4,000 crores via an issue of 7-year infra bonds. The move comes amid hopes of better credit growth during the busy season from October to March. The interest rate being 9.75% on such bonds.
  • PNB Housing Finance has received capital markets regulator Sebi’s go ahead to raise INR 2,500 crore through an initial public offering.


Friday- 14th October 2016

  • Anil Ambani-led Reliance Communications has entered into a deal with Canada’s Brookfield Infrastructure Group to sell a majority stake in the Anil Ambani company’s tower for INR 11,000 crores. Amount to be used to bring down debt. This caused a rise of 2.5% in the stock.
  • Infosys’ Q2 results saw revenue beating the market expectations but the company cut its full-year target for the second time this year. This caused a 2.5% decline in the share price of the company.
  • Saudi Arabia and Japan’s SoftBank Group will create a technology investment fund that could grow as large as $100 billion, making it one of the world’s largest private equity investors and a potential kingpin in the industry.


Source: The Economic Times


Jio’s Stellar Launch, Paytm raises funds,Cement companies fined- Weekly Digest #12

Monday- 29th August 2016

  • To acquire the UK and Irish business of Israeli generics maker Teva, last remaining contenders are two local companies, namely Aurobindo and Intas. Both the companies have submitted an offer of near $1 billion. The decision to be taken in a next few weeks.
  • Niti Aayog Vice-Chairman Arvind Panagariya has said in a statement that India’s economic growth will accelerate to 8% in the current fiscal year, owing to good monsoon policy reforms and PM Narendra Modi’s focus on implementation at the grassroots level.
  • Taiwanese company MediaTek is looking to invest an amount of INR 400 crores into India’s One97 Communications, which runs mobile payment and e-commerce platform Paytm. Its current capital is INR 2,000 crores, with leading investors being Alibaba, Alipay and SAIF partners.
  • DHFL has raised record sum on a single day by selling bonds through public issue. The subscription was opened for allotment for INR 10,000 crores bonds. The Issue was subscribed for INR 12,645 crores, setting a record for a private entity.
  • Indian Oil Corporation has reported a 25% in its net profit for the quarter ended June at INR 8,269 crore, attributed to increased inventory gain and expansion in petrochemicals margin. The bonus of one share for every share held was announced too.


Tuesday-30th August 2016

  • Stocks rallied on Tuesday as Sensex hits its 13 months high, while the Nifty hits its 16 months high. The total market capitalization of companies listed on BSE crossed INR 110 lakh crore to set a new record high. Maruti Suzuki and Bajaj Auto scaled lifetime highs.
  • E-commerce firms, including Urban Ladder, Zivame, FabAlley, and Yepme, are looking to convert themselves into a single brand retailer, taking benefits of the amendment brought in single-brand retail policy to allow foreign-funded retailers to sell in physical as well as online stores.
  • Mumbai-based online fashion rental portal Flyrobe raised an amount of INR 35 crores in its second round of funding. Funding was led by IDG ventures, with the participation of Tokyo-based Gree Ventures and existing investor Sequoia India.
  • Apple Inc was ordered to repay a record 13 billion euros plus interest after the EU said Ireland illegally slashed the iPhone maker’s tax bill by ‘selective tax treatment’. Both Apple and Irish Government are looking to challenge the decision, which can lead to a dispute with the US.


Wednesday- 31st August 2016

  • An official panel has ruled that Reliance Industries has made unjust gains by pumping natural gas that flowed from ONGC’s adjoining block but a proper inquiry is needed to ascertain if both companies knew about the connectivity of reservoirs and chose to conceal the information for years.
  • The Competition Commission of India has fined 11 cement companies of India and their lobby group Cement Manufacturer’s Association (CMA) INR 6,714 crores for alleged cartelization. The lobby group of these manufacturers guilty of facilitating price collusion.
  • India experienced the slowest Quarter 1 growth in 5 years at 7.1%. This has been attributed to  sluggish investments and farm output. However, the government is still confident to achieve the fiscal target of 8% for the year.
  • Sony Pictures Networks India (SPN) will acquire Ten Sports for INR 2,600 crore from Subhash Chandrarun Zee Entertainment Enterprises (ZEE). ZEE had paid $107 million to acquire Ten Sports from Dubai-based Abdul Rahman Bukhatir’s Taj Group.
  • RBL Bank made a stellar debut in the market, listing at INR 274.20, at a premium of near 22% from the issue price. The stock closed at INR 299.95 and hit the Intraday high of INR 305.50.


Thursday- 1st September 2016

  • Mukesh Ambani announced the much anticipated launch of Reliance Jio Infocomm’s services on Thursday, stating that the telecom will launch the services from 5th September. It plans to revolutionise the telecom industry by offering free calls and data at one fifth of the prevailing rates. All services to be free til 31st December 2016.
  • During the 45 minute launch of services of Reliance Jio, Bharti Airtel, Indea Cellular Services, and Reliance Communications slumped, as capitalisation of Bharti Airtel plunged by INR 9,800 crores and Idea Cellular’s by INR 2,450 crores.  Reliance Communications slumped 7% intraday.
  • Indian handset maker Lava has inked a joint venture with Easy Group, to sell its products in the markets of Egypt.The companies signed a memorandum of understanding (MoU) that will enable Lava to start exporting its products to Egypt, while Easy Group will provide necessary support to promote and distribute products in the country.
  • Realty developer Lodha Group has raised debt of INR 2,320 crore from Piramal Fund Management. The amount has been raised for a portfolio of projects in south and central Mumbai, including the World Towers.
  • With a brewing price war in the telecom industry, industry insiders and analysts predicting Bharti Airtel, Vodafone and Idea Cellular to slash their rates to respond to the enticing tariffs that Reliance Jio Infocomm is offering.


Friday- 2nd September 2016

  • Faulty battery is causing explosions in Galaxy Note 7, causing Samsung to recall all its models and launch a replacement program for the faulty models. Sales will be halted in the 10 countries in which it has been launched.
  • Launch of Reliance Jio and its strategy for free calls and cheap data will cause telecos to revise their strategy for the upcoming auction. They are expected to take more aggresive approach towards the auction to stay in competeion with price strategies of Jio.
  • The Tata Group filed an objection in the Delhi High Court to prevent enforcement of an international arbitration award in favour of Japan’s DoCoMo. This move is expected to reignite feud between the already sour realtions between the two companies.


Source: The Economic Times

Image: Wikipedia