The Supreme Court has stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., effectively halting the deal and marking another victory for Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector. Agreeing with the American e-commerce giant’s petition, the top court on Monday overturned a lower cou...

Glenmark Pharma announced that its Swiss subsidiary bagged marketing approval from the Russian health regulator for its nasal spray Ryaltris. The drug is indicated for symptomatic treatment of seasonal and perennial allergic rhinitis in adults and children over 12 years of age. It relieves symptoms of allergic rhinitis, including stuffy nose, runny nose, nasal itching, sneezing, as well.

India Gold MCX April futures trade higher on Monday. However, analysts suggest it could face some resistance around 46,600 levels. Gold has recovered from recent lows, but ETF outflows and higher US and global bond yields, suggest experts. On the Multi-Commodity Exchange (MCX), April gold contracts were trading higher by 0.23% at Rs 46,305 for 10 grams at 0920 hours.

Torrent Power turned out to be the highest Bidder for the sale of 51% stake in the Power Distribution Company in Dadra & Nagar Haveli and Daman & Diu. With the addition of Dadra & Nagar Haveli (including Silvasa) and Daman & Diu, Torrent will distribute nearly 25 billion units to over 3.8 mn customers. The stocks touched a 52-week high of Rs 379 on February 22, after the emerging of this news.

Jubilant FoodWorks stocks climbed a 52-week high of Rs 3,082.95, rising 1% in early trade on February 22 after the company's subsidiary entered into a purchase agreement to fully acquire Fides Food Systems Coöperatief U.A. Jubilant Foodworks Limited has also executed the purchase agreement as guarantor in connection with the investment obligations of Jubilant Foodworks Netherlands B.V.

Maithan Alloys Ltd. reported its financial results for the quarter and 9 months ended December 31, 2020. The company’s total revenue from operations stood at Rs445.9cr in Q3FY21 compared to Rs409.1cr in Q2FY21, a growth of 9%. It however fell 5% YoY from Rs469.1cr in Q3FY20. PAT in Q3FY21 was Rs55.4cr compared to Rs54.9cr in Q2FY21, a growth of 1% QoQ. It dropped 13% YoY from Rs63.9cr in Q3FY20.

Ashiana Housing Limited has converted the ‘Expression of Interest’ of customers for their entire range of 200 units in Phase 2 of ‘Ashiana Aditya’ (Jamshedpur) into booking. The Phase 2 “Ashiana Aditya” project has a total saleable area of 2.74 lakhs sq. ft. The ambitious project includes 2 BHK and 3 BHK units in the heart of Adityapur, Jamshedpur (Jharkhand).

McNally Bharat Engineering Company Limited bagged an order of Rs531.00cr from Northern Coalfields Limited (NCL) through a Letter of Acceptance on February 20, 2021. The order is for “Planning, Design, Engineering, Construction, Fabrication, Erection, Supply, Installation, Testing. Trial Run and Commissioning of Coal Handling Plant of 9.5 MTPA.

Ujjivan Small Finance Bank Limited informed the exchange about the resignation of Biswamohan Mahapatra, Part-Time Chairman and Independent Director of the Bank. The Bank has received a letter on 19th February 2021 from Biswamohan Mahapatra tendering his resignation with effect from the close of business hours on 19th February 2021.

Jagran Prakashan Limited announced on Saturday that its Board of Directors will meet on March 02, 2021, to consider the proposal for buyback of the fully paid-up equity shares of the company. The company stock was in demand during early deals on Monday. Each stock was trading at Rs56.00 per piece up Rs7.15 or 14.64% (around 9.40 am) from its previous closing of Rs48.85 per piece on the BSE.

Oil prices increased on Monday after the slow return of U.S. crude output, which was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandemic. Brent crude was up 76 cents, or 1.2%, at $61.67 a barrel by 0104 GMT, after gaining nearly 1% since last week. U.S. oil rose 74 cents, or 1.3%, to $59.98 a barrel.

Nepal on Sunday received one million doses of Covishield vaccine in a major boost to the country’s fight against the COVID-19 pandemic. The neighbouring country bought the vaccines from India’s Serum Institute. Oxford-AstraZeneca's Covishield is being manufactured by Pune-based SII which has collaborated with Oxford University and pharmaceutical company AstraZeneca for vaccine production.

Patanjali Ayurved MD Acharya Balkrishna issued a clarification over the certification of Coronil. He said, "We want to clarify to avoid confusion that our WHO GMP compliant COPP certificate to Coronil is issued by DCGI, Government of India". Without naming Patanjali or Coronil, the WHO issued aother clarification stating that no traditional medicine for COVID-19 had been reviewed or certified.

The Indian rupee is bouncing back, as massive inflows into the nation’s stock markets help the currency break past the central bank’s intervention barrier. It has gained 0.6% this year against the dollar. A recovering economy and an expansive budget are luring global funds to India’s equities. Investors bought about $4 bn of stocks this month, the most in Asia’s emerging markets after China.

In 2010, three years before Amazon's introduction to India, the US e-commerce company circulated an investment proposal, code-named 'Red', to a few select potential local partners. The investment proposal offered a minimum return on investments at a pre-determined internal rate of return (IRR), including through a contingent three years 'put' option on the Seattle-based company.