With an aim to expand its share in India’s growing online retail market, Paytm Mall targets a three-fold increase in its annualised gross sales, taking it up to $10 bn-mark by March 2019. Owned by Paytm E-commerce Pvt Ltd., Paytm Mall has ramped-up its efforts to expand the business.

Shares of Uday Kotak-run Kotak Mahindra Bank tanked by nearly 3.5% on Thursday, after India’s apex bank RBI notified on Tuesday that the bank’s preferential issue does not meet its dilution norms. Under RBI’s current norms, Founder and Promoter Uday Kotak was required to reduce his stake in the bank to 20% by December 2018 and 15% by March 2020.

Mumbai: The country’s largest oil exploration and production company, Oil and Natural Gas Corp. Ltd (ONGC), is in talks to buy five blocks from the Gujarat State Petroleum Corp. Ltd (GSPC), according to two people aware of the development.

The move comes against the backdrop of ONGC acquiring an 80% stake in GSPC’s Deen Dayal block in the Krishna Godavari Basin in December 2016 for 7,738 crore. The Gujarat government owns an 87% in GSPC.

As anyone who has used a Microsoft keyboard or mouse will tell you, thes Redmond-based company makes some excellent hardware. So a couple of years back, the company decided that it was time to extend this expertise to computers as well. The Surface series has been a success in more ways than one. But it has not been that popular in India, primarily because Microsoft has not offered many choices to the buyers.

Sensex, Nifty today: The Indian stock market opened lower on Thursday, even as concerns surrounding the rupee and cues from the global market weigh. The Sensex opened at 37,796, and soon plunged nearly 150 points to hit the day’s low at 37,644 within minutes of opening. The broader Nifty 50 opened at 11,397, below the psychological mark of 11,400. The rupee too opened at a record low of 70.32, recording a plunge of 43 paise against the dollar.

Jeff Bezos, meet Mukesh Ambani. It’s time the Amazon.com Inc. boss took notice of his real rival in India, the only billion-strong consumer market open to Western tech firms. While Walmart Inc.’s acquisition this year of Flipkart Online Services Pvt., a homegrown e-tailer, might have given the impression that the battle for India would be an all-American contest, a new national e-commerce policy doing the rounds in New Delhi should disabuse Bezos of that notion.

GMR Infrastructure’s net loss on a consolidated basis widened by 72% year-on-year (y-o-y) to Rs 235.14 crore in the quarter ended June 30 on dwindling profits from its airports business and rising losses on the power segment.

Revenue in the quarter fell about 33% to Rs 1,876.2 crore from the same period last year. Profits from the company’s flagship airport segment fell 60% y-o-y to Rs 277 crore, notwithstanding the 14% traffic growth in the same period.

Telecom secretary Aruna Sundararajan has directed the Universal Services Obligation Fund (USOF) to prepare a new project report based on the BSNL’s proposal for providing mobile connectivity in uncovered villages by setting up telecom towers in Left Wing Extremism (LWE)-affected areas and Meghalaya.

BENGALURU: Appirio India Cloud Solutions is the only company that has reported growth in business among four of Wipro’s subsidiaries, which are slated to be merged into its parent.

Appirio India, which specialises on cloud computing based services, reported Rs 11.12 crore profit on revenues of Rs 76.17 crore in FY18. Last financial year, Appirio reported Rs 10.78 crore profit on revenues of Rs 69.74 crore.

BENGALURU: Infosys is putting in place a team to sell its internal learning platform Lex to clients after rebranding the product.

Lex is a mobile application that has internal content from Infosys and third-party specialised content.

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