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Top 10 business news today: BNP Paribas buys Sharekhan, Airtel’s Sunil Mittal pay package, Mahindra SUV TUV300, Mercedes launches 3 models, more

Fri July 31 2015, 2:49 pm
  • bnp paribus

    1. BNP Paribas acquires Sharekhan in around Rs 2,300-crore deal:

    French bank and financial services company, BNP Paribas on Thursday acquired domestic brokerage firm Sharekhan after nearly six months of negotiations on the deal. Analysts peg Sharekhan's valuation at Rs 2,200-2,300 crore and the deal they say is “win-win” for both the entities. (Reuters)

  • sunil bharti mittal

    2. Airtel Chairman Sunil Bharti Mittal gets Rs 27.17 cr package:

    Sunil Bharti Mittal has got a total pay package of Rs 27.17 crore for the latest fiscal. Mittal's total remuneration dipped marginally by 2.52 per cent, from Rs 27.88 crore in 2013-14, largely because of a sharp decline in his "performance linked incentives" from Rs 13.5 crore to Rs 8.25 crore. (Reuters)

  • mahindra

    3. Mahindra & Mahindra to launch SUV TUV300 in mid-September:

    The TUV300 is expected to compete with the likes of Toyota Etios Cross, Hyundai 120 Active and Fiat Avventura which are priced at a range of Rs 6.23 lakh and Rs 8.89 lakh (ex-showroom Delhi). (Mahindra & Mahindra)

  • mercedes

    4. Mercedes launches 3 models priced up to Rs 2.60 cr:

    German carmaker Mercedes-Benz on Thursday launched three ultra luxury vehicles -- S500 Coupe, S63 AMG Coupe and SUV G63 AMG 'Crazy Colour' edition -- priced between Rs 2 crore and Rs 2.60 crore (ex-showroom Delhi). (Reuters)

  • Gold

    5. Gold prices flirts with 5-1/2-year low:

    Gold prices dipped towards its weakest level since early 2010 on Thursday after the Federal Reserve said the US economy continues to strengthen, supporting a potential interest rate rise when the Fed meets again in September. After a two-day meeting, policymakers said on Wednesday they felt the economy had overcome a first-quarter slowdown and was "expanding moderately". That buoyed the greenback against a basket of currencies, making dollar-priced gold more costly for buyers using other currencies. (Reuters)

  • flipkart

    6. Flipkart launches 'India Art House' for handicraft lovers:

    Ecommerce major Flipkart on Thursday launched India Art House, an exclusive online store offering sellers a platform to promote regional products. "With over seven million artisans, India is globally known for its unique artifacts and traditional products. India Art House aims at bringing products from artisans under one roof and offer them access to a wide set of customers across geographies," Flipkart Chief Business Officer Ankit Nagori said in a statement here. (Reuters)

  • moody's

    7. Moody's cautions against curbing RBI autonomy on policy rates:

    Moody's on Thursday cautioned against tampering with the independence of the Reserve Bank of India (RBI) in deciding on interest rates saying it would hurt India's economic prospects. Moody's Analytics also raised a red flag over the Parliament logjam and said it is denting business confidence as key reform bills like land and GST are stuck. (Reuters)

  • Make in India week, Make in India week latest news, Make in India week news, Make in India mumbai, Ratan Tata, Ratan Tata news, Bank of Baroda, Bank of Baroda Q3, Snapdeal, Gold prices, Anil Agarwal

    Bank of Baroda: Amid mounting bad debts for public sector banks, Bank of Baroda reported a net loss of Rs 3,342.04 crore for the third quarter — biggest-ever quarterly loss for any lender in the country. The bank had recorded a standalone net profit of Rs 333.98 crore in the same quarter of the last fiscal. [13-02-2016] (Reuters)

  • reliance

    9. Reliance Jio to raise Rs 3,500 cr debt to fund roll-out expenses:

    Ahead of launching commercial operations of 4G services, Reliance Jio Infocomm Ltd, the telecom arm of Reliance Industries Ltd, plans to raise Rs 3,500 crore debt to fund roll-out expenses. RJIL did not share any further details about the fresh debt that it plans to raise. (Reuters)

  • itc

    10. ITC Q1 net up 3.61% at Rs 2,265 cr, pressure on cigarette sales:

    ITC Ltd on Thursday posted a subdued 3.61 per cent rise in net profit at Rs 2,265.44 crore for the first quarter ended June 30, due to pressure on cigarette sales and sluggish demand for other FMCG products. (Reuters)

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