Walmart is preparing for ecommerce major Flipkart's $10 billion initial public offering (IPO) in the US and has hired Goldman Sachs to assist with the listing. The US retail giant is looking to sell around 25 percent in Bengaluru-based Flipkart, Mint reported. A spokesperson for Goldman Sachs declined to comment, and a Walmart spokesperson had not yet responded when contacted by Mint.

Minda Industries Limited has redeemed Commercial Paper of Rs25cr issued on August 7, 2020 at its maturity date of December 5, 2020. The issuance of commercial paper was in line with the company’s management efforts to bring down the finance cost. “Commercial Paper of Rs25cr issued on August 7, 2020 with maturity date of 05 December, 2020 has been redeemed,” company said in a regulatory filing.

State-run power giant NTPC has made an offer to buy back its masala bonds worth Rs 4,000 crore from bondholders or lenders. Masala bonds are issued outside India but denominated in Indian rupees, rather than the local currency. According to a company statement, NTPC has launched a cash tender offer to buy the masala bonds worth totaling Rs 4,000 crore.

Drug firm Zydus Cadila on Monday said it has received permission from Drugs Controller General of India (DCGI) to initiate phase-1 clinical trial of its novel molecule ZYIL1, indicated for use as an inhibitor for inflammation condition 'NLRP3'. Last month, Zydus Cadila had filed the investigational new drug application for ZYIL1, positioned for management of critically ill COVID-19 patients.

Aditya Birla group firm Hindalco Industries on Monday said it plans to set up a 34,000-tonne aluminium extrusion plant at Silvassa, in Dadra and Nagar Haveli union territory, at an investment of Rs 730 crore. In a regulatory filing, Hindalco said the new plant will service the fast-growing market for extruded aluminium products in the western and southern regions.

The board of Goodyear today approved an interim dividend of ₹Rs. 80 per equity share of face value of ₹10 each, for the financial Year 2020-21. The interim date of the dividend has been fixed on December 15, 2020 for the purpose.

TCS recently announced that it has deployed a blockchain-based digital supply chain platform that powers an ambitious new project launched by the GOI’s Centre for Cellular and Molecular Platforms (C-CAMP) to scale up indigenous Covid-19 diagnostic test-kit production capacity to a million test kits a day. The solution enables organizations to embrace new ecosystem-based business models.

Automakers have continued to witness encouraging sales numbers even after Diwali. Vehicle makers witnessed a slight dip in bookings and retail sales after Navratri and Diwali, but the numbers are still better than expected, said auto sector executives. Maruti Suzuki India Ltd saw bookings for cars increase 17-18% in the 14-day period after Diwali compared to the year ago.

Pfizer Inc has applied for emergency use authorisation of its coronavirus vaccine in India, a top government health adviser said in a TV interview on Sunday, the first to do so in a country with the world’s second-highest number of infections. The U.S. company, whose vaccine was recently approved in Britain, approached Indian authorities on Saturday.

In the 5 months since he took over as CEO of Wipro, Thierry Delaporte has yet to visit the company's Bangalore headquarters. Instead, the 53-year-old has been on a virtual tour from his home in Paris, meeting with managers, workers and customers around the globe.The company’s stock has rallied about 70% since his appointment, most among India’s four largest outsourcing firms during the period.

Technical analysts are expecting another 200-point gain for benchmark Nifty in the coming days after the index crossed the 13,200 mark last week — a level which was seen as a strong hurdle. Technical analysts expect the Nifty to find support at 13,100-13,150. At present, the resistances are getting surpassed one after another & there is no indication of any reversal pattern forming at new highs.

We are really overwhelmed by the love and support we are getting from you for the last 3 months! And now we are gearing up to be more "social" ;) Follow us on Instagram to know fun facts and trivia about stocks, businesses and the financial world! We promise you we will never bore you with mundane posts there :) - Team FlipItNews

The Board of Directors of high-yielding companies reward shareholders by sharing a part of the net profit with them. This mode of sharing of profit is known as ‘dividends’, and they are usually paid in cash or as additional stocks of the company. Stock owners receive the dividend if they own stocks before the ex-dividend date.

Debt-laden Air India Ltd is set to raise about ₹1,000 crore this week to complete a total fundraising of about ₹6,150 crore in short-term loans from local lenders, said two people with direct knowledge of the matter. The fresh debt will be used to refinance comparatively pricier foreign currency bridge loans taken to purchase seven Boeing Co. 787 and 777 jetliners, the two people said.

Thanks to the billions of dollars raised by Reliance for its telecom arm, Morgan Stanley, the advisor to the company, is all set to top the M&A league table for the calendar 2020. The US-based bank has advised 25 transactions with deal values touching $28 billion. BoFA is second in the chart by advising deals worth $18B while EY is third in the league table with transactions worth $18B.