Paytm brings back UPI cashback, scratch cards

Fintech major Paytm on Monday said it has brought back ‘Paytm Cricket League’ with UPI cashback and scratch cards on its platform, weeks after these features were removed after Google briefly blocked the app on Google Play store for policy violation. Users can now collect stickers of cricket stars as they pay digitally for their mobile bills, recharges, buying groceries […]

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CPCL targets improvements to margins

Measures to boost realisation include a naphtha splitter, low sulphur fuel oil foray State-owned refiner Chennai Petroleum Corporation Ltd. (CPCL) , which posted a loss of ₹2,078 crore in FY20, has planned several initiatives for the current fiscal to improve its operational performance, said a top official. CPCL posted a pre-tax profit of ₹430 crore in the first quarter following […]

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Reliance Reportedly Mulls $20 Bln Stake Sale In Retail Unit To Amazon

Indian billionaire Mukesh Ambani’s Reliance Industries Limited is in talks to sell 40 percent stake in its retail unit, Reliance Retail Ventures Limited or RRVL, to Amazon.com Inc. for $20 billion, Bloomberg reported. Meanwhile, American private equity firm Silver Lake Partners announced its investment of 7,500 crore Indian Rupees or about $1 billion for a 1.75 percent equity stake in […]

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Norway’s Orkla to buy 68% in Eastern Condiments

Eastern to be merged into MTR Foods Orkla, a Norwegian supplier of branded consumer goods to the grocery, out-of home, specialised retail, pharmacy and bakery sectors, has entered into an agreement to acquire 67.8% stake in Kochi-based Eastern Condiments. The parties had agreed on a purchase price that values Eastern Condiments at ₹2,000 crore, on a debt and cash-free basis. […]

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Volkswagen urges govt. to eschew protectionism

COVID-19 not to derail carmaker’s ₹8,000-cr. investment plan, says official The government must refrain from getting into a ‘protectionist mood’ that may disrupt supply chains for global automobile firms manufacturing in the country, particularly as they emerge from the impact of recent lockdowns, a senior Volkswagen India official said. “If you ask me what would help from the government in […]

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Harley-Davidson may exit India

Weak sales and a lack of visibility for future demand are reasons cited Barely a decade after its entry, Harley-Davidson Inc. is looking to wind down its assembly operations in the country as a result of weak sales and a lack of visibility for future demand, industry executives said. The iconic U.S. motorcycle maker has sent out feelers to a […]

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