Walmart Inc. might want to portray its $16 billion purchase of India's largest e-commerce firm, Flipkart Group, as a brilliant strategic move, long-planned in secret, that would allow the U.S. retail giant to manage the transition away from big-box stores globally. Yet, the truth is that the deal represents a second-best outcome -- if that -- for Walmart as well as for Indian consumers and farmers.

Food major Nestlé India on Wednesday said it had received board approval to add breakfast cereals from joint venture (JV) Cereal Partners Worldwide (CPW) to its portfolio, paving the way for its launch in the country. CPW is a 50:50 JV between Nestlé and General Mills, with a network of 17 factories, four R&D centres and 4,600 employees across the world.

Mumbai: Larsen & Toubro (L&T) and BrahMos Aerospace have unveiled a new quad launcher prototype, heralding another attempt to boost the performance of naval warships.

The new prototype provides superior firepower compared to the twin canister and has the capability to launch four missiles in a single or salvo (simultaneous) mode. Besides, the quad launcher is suitable for warships which have space constraints to accommodate a vertical launch module.

The BSE Sensex fell over 82 points in early trade today on weak global cues after President Donald Trump pulled the US out of the landmark Iran nuclear deal, fanning fears of an escalation in geopolitical tensions.

Crude oil prices zoomed past $76 per barrel mark amid foreign capital outflows and depreciating rupee.

The rupee opened weak against the dollar on Wednesday after United States said it will withdraw from the nuclear deal with Iran which could have adverse consequences on oil prices. India which imports 80% of its crude oil requirements face the risk of worsening macroeconomic parameters if crude prices rise.

The rupee opened 0.4% or 28 paise weak against the dollar as compared to Tuesday close of 67.08 a dollar. The Indian currency was one of the worst performers among Asian peers on Wednesday.

Maruti Suzuki on Tuesday said that it is undertaking a service campaign to inspect 52,686 units of its new Swift and Baleno, both hugely popular cars, for a possible fault in the brake vacuum hose. The units manufactured between December 1, 2017 and March 16, 2018 will be covered under the campaign.

The fight between incumbent operators and Reliance Jio over points of interconnect (PoIs) — these points connect calls between two different networks — which ran full steam in the latter half of 2016, continues on the regulatory front.

Back in 2016, mobile operators were required to provide PoIs to each other on demand within a period of 90 days. The Telecom Regulatory Authority of India reduced the span to 21 days in February this year.

In a ruling that could spike the cost of setting up solar power plants, the Authority for Advance Ruling (AAR) for GST in Maharashtra said that engineering, procurement and construction (EPC) activities will be considered as ‘work contract’ and liable to be taxed at 18%.

The petitioner had argued that these should be considered as ‘composite supply’, which would attract a concessional GST of 5% for solar power generation stations.

Japanese electric vehicle company, Terra Motors, plans to expand its offerings in India. The company will launch its e-autos in early 2019, followed by electric two-wheelers in 2020. At present, the company assembles and sells its e-ricks, a three-wheeler with a seating capacity, including driver, exceeding four passengers. An e-auto is a three-wheeler with seating capacity, including driver, not exceeding four passengers.

Civil Aviation Minister Suresh Prabhu today said early operationalisation of 56 new airports under the regional connectivity scheme would be among his focus areas.

His remarks also come at a time when nearly half of the 128 routes awarded to various operators in the first phase of the scheme -- UDAN -- March 2017 are yet to be operational.

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