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<ul><li>The shares of Reliance Industries and Future Retail cracked 2% and 6% during the early trading hours on Monday. </li><li>The Singapore-based single judge arbitration panel asked Future group to stall its retail business deal with RIL until the arbitration panel decides on it.</li><li>The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. </li></ul>The shares of Reliance Industries and Future Retail cracked 2% and 6%, respectively, after a Singapore-based single judge arbitration panel asked Future Group to stall its retail business deal with RIL. VK Rajah, the sole arbitrator in the Amazon vs Future vs Reliance arbitration case, while passing an interim award in favour of Amazon, asked the Future Group to put the retail deal with RIL on hold until the arbitration panel decides on the matter. <div type="image" title="Future Retail (1)" msid="78866017" hostid="261"></div> The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/429a10df-fa77-4b60-b000-3f96e06719da.pdf">Future Retail (FRL) also informed investors </a>that it is examining the communication and the order. However it further added that Future Retail is not party to the agreement under which Amazon has invoked arbitration proceedings. “In any enforcement proceedings, FRL would take appropriate steps to ensure that the proposed transaction will proceed unhindered without any delay,” it said in a statement. Reliance Industries too intends to complete the transaction Mukesh Ambani-led Reliance Industries too said that it intends to enforce its rights and complete the transaction with Future Retail. Reliance Retail Ventures in a statement said that it has entered into the transaction for the acquisition of assets and business of Future Retail under proper legal advice and the rights and obligations are fully enforceable under Indian law. <div type="image" title="RIL" msid="78866026" hostid="261"></div> “RRVL intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay,” RRVL said in a statement. What triggered the Amazon vs Future Group case? Earlier this month, e-commerce giant Amazon.com stepped in and said that Future Group violated a contract with it by entering into the sale agreement with the Mukesh Ambani-led retail major. This after Reliance Retail acquired Kishore Biyani’s Future Group in August for ₹25,000 crore in a<a href="https://www.businessinsider.in/retail/news/mukesh-ambani-reliance-retail-acquires-kishore-biyani-future-group-for-25000-crore-in-a-slump-sale/articleshow/77825144.cms"> slump sale.</a> Last year, Amazon acquired a 49% stake in Future Coupons, a Future group entity. And earlier this month, the e-commerce giant sent a legal notice over the Reliance-Future retail deal, saying that it had been <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-fights-for-its-rights-in-the-future-retail-reliance-deal-sends-legal-notice-to-the-kishore-biyani-group/articleshow/78547247.cms">denied the Rights of First Refusal </a>for the deal with Future Group. (with inputs from wire services) SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon

Mumbai, The <keyword id="63783" type="COMPANY" weightage="20" keywordseo="Securities-and-Exchange-Board">Securities and Exchange Board</keyword> of India (<keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>) has imposed a penalty of ₹25 crore and ₹15 crore respectively on <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> (RIL) and its Chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> for <keyword id="4916480" type="PERSON" weightage="20" keywordseo="manipulative-trading">manipulative trading</keyword>. The <keyword id="529056" type="PERSON" weightage="20" keywordseo="Sebi-order">SEBI order</keyword> observed that RIL had entered into a well-planned operation with its agents to corner the open interest in the RPL (Reliance Petroleum) futures and to earn undue profits from the sale of RPL shares in both cash and futures segments and to dump large number of RPL shares in the cash segment during the last ten minutes of trading on the settlement day resulting in a fall in the settlement price. The case pertains to 2007. It also observed that Mukesh Ambani being the Chairman &amp; Managing Director of RIL, was responsible for its day-to-day affairs and thereby, liable for the "manipulative trading" done by RIL. The order noted that <keyword id="656309" type="PERSON" weightage="20" keywordseo="Navi-Mumbai-SEZ">Navi Mumbai SEZ</keyword> Pvt Ltd and Mumbai SEZ Ltd have allegedly aided and abetted RIL by providing funds to one of the agents appointed by RIL, who in turn provided funds to other 11 agents for making the margin payments for the short positions in RPL November Futures. The capital market regulator imposed penalties of ₹20 crore and ₹10 crore on Navi Mumbai SEZ and Mumbai SEZ respectively. As per SEBI, it was observed that a resolution was passed by the <keyword id="136326" type="COMPANY" weightage="20" keywordseo="Board-of-Directors">Board of Directors</keyword> of on March 29, 2007 which approved the operating plan for the year 2007-08 and resource requirements of the next two years -- around Rs. 87,000 crore. Thereafter, RIL decided to sell approximately 5 per cnet of its shareholding in RPL (up to 22.5 crore RPL shares) in November 2007. Subsequently, RIL admittedly appointed 12 agents, between October 30, 2007 to November 3, 2007, to undertake transactions in the November 2007 RPL Futures (settlement period November 1- November 29, 2007) on its behalf. The said 12 agents appointed by RIL took short positions in the F&amp;O Segment on behalf of RIL, while RIL undertook transactions in RPL shares in the cash segment. During the period of November 1, 2007 to November 29, 2007, various transactions were undertaken by RIL in the cash segment and by RIL through the agents in the F&amp;O segment. From November 15, 2007 onwards, RIL's short position in the F&amp;O segment constantly exceeded the proposed sale of shares in the cash segment. Further, the probe showed that on November 29 2007, RIL sold a total of 2.25 crore shares in the cash segment during the last 10 minutes of trading resulting in fall in the prices of RPL shares, which also lowered the settlement price of RPL November Futures in the F&amp;O Segment. RIL's entire outstanding position of 7.97 crores in the F&amp;O Segment was cash settled at this depressed settlement price resulting in profits on the said short positions. The said profits were transferred by the agents to RIL as per a prior agreement, said the order dated January 1. SEBI noted that an order noted dated March 24, 2017 had directed RIL to disgorge an amount of ₹447.27 crore along with interest calculated at the rate of 12% per annum from November 29, 2007 onwards till the date of payment. Further, RIL was prohibited from dealing in equity derivatives in the F&amp;O segment of stock exchanges, directly or indirectly, for a period of one year from the date of the said Order. "I find it appropriate to consider the direction in the nature of debarment and the disgorgement that has already been passed against RIL herein as a relevant factor while deciding the quantum of penalty," it said. "I have also considered the quantum of loans advanced by Noticee-3 (Navi Mumbai SEZ) and Noticee-4 (Mumb ai SEZ) to the agent appointed by RIL. Considering the above, I proceed to impose an appropriate penalty on each of the noticee that serves as a deterrent to the noticees and others indulging in such fraudulent trade practices." SEE ALSO: <a href="https://www.businessinsider.in/international/news/ten-of-the-most-outrageous-predictions-for-2021-according-to-saxo-bank/slidelist/80040045.cms">From Amazon buying Cyprus to Germany bailing out France — here are ten of the most ‘outrageous’ predictions for 2021</a> <a href="https://www.businessinsider.in/business/startups/news/india-edtech-in-charts-how-the-shi[%E2%80%A6]es-of-byjus-unacademy-and-others/articleshow/80040270.cms">India’s edtech in charts – How the shift to online learning meant money, valuation and users for the likes of BYJU’S, Unacademy, and others</a> <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">INTERVIEW: Kia Motors’ 2021 plan includes 11 electric vehicle launches ⁠— but India may have to wait longer</a>

SEBI imposes penalty on Mukesh Ambani and Reliance Industries for manipulative trading

<ul><li><keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> has informed the bourses that with Amazon taking the case back to Singapore court, not every stage of the proceeding is a “material event for disclosure”. </li><li>Future Retail also hinted that it wasn’t going to give in to Amazon’s media tactics.</li><li>The statement from Future Retail has come in after the National Stock Exchange warned the company that it could face regulatory scrutiny for not putting out market disclosures on time. </li></ul><keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword>’s Future Retail (FRL), which is embroiled in a legal battle with e-commerce giant Amazon over its deal with Reliance Retail, has told the bourses that with Amazon taking the case back to Singapore court, not every stage of the proceeding is “material event for disclosure”. In a statement to the stock exchange, the company wrote, “As you are aware, Amazon has initiated arbitration proceedings in Singapore, which the company believes is without merit and without jurisdiction.” Future Retail also hinted that it wasn’t going to give in to Amazon’s media tactics. “Every stage of the proceedings would not lend itself to being a material event for disclosure under Regulation 30 of the LODR Regulations,” the statement said. FRL added that it was making this disclosure “out of abundant caution” since Amazon’s media strategy was to have “every development reported and converted into a line of communication with stock exchanges.” This statement from Future Retail has come in after the National Stock Exchange (NSE) warned the company on November 26 that it could face regulatory scrutiny for not putting out market disclosures on time. NSE’s warning came after<a href="https://economictimes.indiatimes.com/markets/stocks/news/reliance-vs-amazon-nse-warned-future-retail-of-action-over-disclosures/articleshow/79403903.cms"> Amazon complained</a> that <keyword id="44949" type="CITY" weightage="20" keywordseo="Future-group">Future Group</keyword> was misleading the public with incorrect market disclosures. On November 25, the Singapore International Arbitration Centre had <a href="https://www.business-standard.com/article/companies/amazon-future-tussle-singapore-s-arbitration-court-rejects-biyani-s-plea-120112501490_1.html">rejected</a> Future’s plea not to be included in the arbitration. The legal battle began when on October 25, global e-commerce giant Amazon got a stay order on the Future Retail and Reliance deal from a Singapore arbitrator and had written to BSE and SEBI to uphold the decision. Amazon had sent a legal notice to Future Coupons over Future Group’s ₹25,000 crore deal with Reliance. Amazon had <a href="https://www.timesnownews.com/business-economy/companies/article/amazon-sends-legal-notice-to-future-group-for-alleged-breach-rofl-rights-in-reliance-deal/663768">said that </a>it was denied the Rights of First Refusal for the deal with Future Group. The Singapore court had ruled in favour of Amazon and passed an interim order that put the RIL-Future deal on hold. Since then, the matter is subjudice in the Delhi High Court. SEE ALSO: <a href="https://www.businessinsider.in/business/news/amazon-wants-future-retail-to-be-investigated-by-indias-market-regulator-accuses-kishore-biyanis-group-of-insider-trading/articleshow/79170908.cms">Amazon wants Future Retail to be investigated by India’s market regulator – accuses Kishore Biyani’s group of insider trading</a>

Future Retail tells the bourses that not every stage of the Amazon proceedings would be ‘material event for disclosure’

<ul><li>At 7:49 am the SGX Nifty was trading flat pointing towards a muted start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amid the mixed cues from the global market, the Indian stock market is likely to open on a muted note. At 7:49 am the SGX Nifty was trading flat pointing towards a cautious start for Nifty50. Meanwhile, the US stocks climbed on Tuesday on rebound in tech stocks and policy reassurance from a top Fed official following a massive selloff in the previous three sessions. The Dow Jones Industrial Average ended up 140.48 points, and the S&amp;P 500 closed up over 1%. These are the stocks to watch out for during the trading session on September 23: Tata Group stocks The Shapoorji Pallonji Group is set to <a href="https://www.businessinsider.in/business/news/shapoorji-pallonji-group-says-its-time-to-part-ways-with-the-tatas/articleshow/78259653.cms">part ways</a> with the Tatas. SP Group stated before the Supreme Court that a separation from the Tata Group is necessary due to the potential impact this continuing litigation could have on livelihoods and the economy. The SP Group largest shareholder in the Tata Group and this news may move most of the listed Tata Group stocks like— TCS, Tata Steel, Tata Motors and others. RIL Mukesh Ambani owned RIL’s Jio unveiled its JioPostpaid Plus plans in a bid to lure more customers. The company will offer subscriptions to Netflix, Amazon Prime and Disney + Hotstar with a monthly tariff from ₹399 to ₹1,499 with different benefits. The shares of RIL ended 2% lower yesterday. Also keep an eye on other telecom stocks - Bharti Airtel and Vodafone Idea. CARE Ratings and ICRA Markets regulator SEBI imposed a penalty amount of ₹1 crore each on rating agencies— ICRA, and CARE Ratings, in connection with IL&amp;FS case. The shares of CARE Ratings ended 2% lower whereas ICRA was up 2% yesterday. Future Group stocks in focus Future Enterprises defaulted again on interest payments of ₹15.86 crore for its non-convertible debentures. Future Enterprises develops, owns and leases retail infrastructure for the Future Group, and this news may move other Future Group stocks like Future Retail, Future Lifestyle Fashions, among others. The shares of Future Enterprises ended 5% lower yesterday. Dewan Housing Finance (DHFL) The markets regulator SEBI has restrained 12 promoters of DHFL from accessing securities markets for violating market norms. Promoters are also restrained from associating themselves as directors or promoters of any listed public company or associating with any intermediary registered with SEBI. The shares of DHFL ended 3% lower yesterday. Central Bank of India The QIP of the Central Bank of India has opened with the floor price set at ₹16.18 per share. The shares of DHFL ended 15% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/business/news/shapoorji-pallonji-group-says-its-time-to-part-ways-with-the-tatas/articleshow/78259653.cms" data-type="tilCustomLink">Shapoorji Pallonji Group says it's time to part ways with the Tatas</a> <a href="https://www.businessinsider.in/stock-market/news/sharekhan-new-discount-broking-platform-espresso-will-take-no-fees-for-a-loss-making-trade/articleshow/78255651.cms" data-type="tilCustomLink">INTERVIEW: Sharekhan’s new discount broking platform will take no fees for a loss-making trade</a>

Top stocks to watch— Tata Group, Future Enterprises, RIL, Central Bank of India, DHFL, CARE Ratings and others

<ul><li>Supreme Court decision to make Airtel and Vodafone pay up spectrum dues gave a boost to RIL stock. </li><li>In the last one week, <a href="https://www.bloombergquint.com/business/ambani-said-in-talks-to-sell-news-assets-to-india-s-times-group">Bloomberg reported</a> that RIL has been trying to sell its media business to two different entities. </li><li>Ambani also said that he plans to turn the company<a href="https://www.businessinsider.in/airtel-tata-sky-and-pvr-shares-fall-after-mukesh-ambanis-vision-for-ril/articleshow/70655108.cms"> virtually net-debt free</a>. </li><li>This year, Reliance Retail also crossed ₹2,000 crore in pre-tax profits during the first quarter. </li></ul>It was a much anticipated event but the market value of Reliance Industries hit crossed ₹10 lakh crore in today’s trade. In the morning session it ₹10,00,382.68 crore even as the stock went up only by a marginal 0.5% today. But the company stock withstood erratic sessions of highs and lows and various global cues, to grow steadily for the last four months. The flurry of good news started after Ambani unveiled his next generation plans at his<a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms"> annual general meeting</a>. But many unprecedented activities also made him the undisputed king of the telecom market. 
 
 
 
 
 
 
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 Rivals loss is Ambani’s gain Jio was gaining customers, mostly at the expense of Vodafone-Idea, but that came at the cost of very cheap prices. It wasn’t clear if Jio will be able to keep the lead if it raised tariff. That worry had been laid to rest after the top three mobile service providers ⁠— Airtel, Vodafone-Idea, and Reliance Jio⁠— announced their plans to<a href="https://www.businessinsider.in/business/corporates/news/jio-will-raise-tariffs-after-airtel-and-vodafone-idea/articleshow/72138425.cms"> hike</a> tariffs. It gave a golden opportunity for Jio to make more money while maintaining the lead over others. Then came the deathly blow for Jio’s rivals from none other than the Supreme Court, which ordered telcos to pay up around ₹92,000 crore ($13 billion) in dues to the Indian government. The companies had lost a decade-old case on how much they have to pay in spectrum fees that left them heavy interest and penalties included. The other two companies which were much older had to pay a lot more than Jio, which was a blessing in disguise for <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s company. Many stockholders believed that Jio would end up with a virtual monopoly over the market as the debt of Airtel and Vodafone is all set to rise The sentiment effect too boosted the stock value by a great margin for a few weeks. Sale of Reliance’s media business In the last one week, wire agency<a href="https://www.bloombergquint.com/business/ambani-said-in-talks-to-sell-news-assets-to-india-s-times-group"> Bloomberg reported</a> twice that RIL has been trying to sell its media business to two different entities—Japanese major Sony and the Times Group. The media business of Network18 that RIL acquired in 2014 is a loss-making entity. The group owns the television channels of Eenadu TV along with those of Network18 like CNBCTV18 and CNN-IBN, Colours and more. It also owns multiple websites like moneycontrol and Firstpost. The news of a possible sale and cash flowing also boosted the stock price. At the AGM in August, Ambani also said that he has plans to carve out retail and Jio into separate entities to unlock value. Plan to go debt free, bonuses and IPOs Apart from announcing various futuristic plans, Ambani also said that he plans to turn the company<a href="https://www.businessinsider.in/airtel-tata-sky-and-pvr-shares-fall-after-mukesh-ambanis-vision-for-ril/articleshow/70655108.cms"> virtually net-debt free</a>. For a company which is saddled with a debt of around ₹1.5 lakh crore, it is good news for investors. This is especially true in a market where every third company is either weighed down by or going <a href="https://www.businessinsider.in/thelife/personalities/news/subhash-chandra-the-man-who-started-tv-revolution-in-india-now-bows-out-after-piling-on-1-6-billion-debt/articleshow/72251788.cms">under debt burden</a>. He also walked the talk by announcing massive deals with international oil majors –British Petroleum and Saudi Aramco which will bring in as much as ₹1.1 lakh crore in commitments. Reliance Retail starts churning profits This year, Reliance Retail also crossed ₹2,000 crore in pre-tax profits during the first quarter. “In our core retail, we crossed the best margin ever at 8.9%. We now have 10,644 stores across the country now,” said Alok Agarwal, CFO of the company during <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-retail-reports-over-47-growth-in-revenue/articleshow/70295939.cms">the quarterly results</a>. But this is not the only good news that the business brought. Ambani unveiled his plans to use the synergies of digital business of Jio with retail and take on Flipkart and Amazon in the online space. In fact, the company unveiled plans of a virtual reality powered shopping experience This, along with promise of public offers and possible bonuses put RIL stock on the fast lane.

Four reasons why Mukesh Ambani’s Reliance Industries is now worth ₹10 lakh crore

<keyword id="6354785" type="LOCATION" weightage="20" keywordseo="france">France</keyword> has registered a new record for the highest number of single-day Covid-19 cases, with a total of 52,010 people testing positive for the virus in a span of 24 hours, health authorities said. Sunday's figure came after Saturday's record 45,422 cases, Xinhua news agency quoted the Public Health Agency as saying. Since the beginning of the pandemic, France has registered a total of 1,138,507 coronavirus. On October 23, it became the second European country to register more than one million confirmed cases after Spain. Also on Sunday, the country reported 116 new fatalities, taking the death toll to 34,761, official data revealed. In addition, 17 per cent of those tested for the virus now have positive results in France, after reaching 16 per cent on Saturday against 15.1 per cent the day before, in comparison to just 4.5 per cent in early September. The ongoing second wave of the pandemic has forced the French government to impose tougher restrictive measures including curfews in a majority of regions across the country. More than two-thirds of the French population, or around 46 million people, have been requested to stay home between 9 p.m. and 6 a.m. for six weeks. On October 24, the National Assembly adopted at the first reading the extension of the state of health emergency until February 16, 2021. The bill authorizes the executive to introduce restrictions to face a "period which will be long and difficult", warned Health Minister Olivier Veran. The toll will "grow heavier in the coming days and weeks, whatever we do" due to the dynamics of the epidemic, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a>

France reports new record high single-day Covid-19 cases

<ul><li>A Bank of America Merrill Lynch states that <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> market value , will skyrocket to a massive $200 billion in two years. </li><li>Since 90% of India’s retail market is unorganized and dominated by <keyword id="6513856" type="UNKNOWN" weightage="20" keywordseo="kirana-stores">Kirana stores</keyword> – Reliance might have a wide market to play in. </li><li>Recently, Reliance Industries backed startup Fynd launched Uniket, a direct-to-retail solution, which will help shopkeepers in Tier 2 and 3 cities go online and expand their businesses.</li></ul><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s retail venture is unlike any other global ventures. Instead of eating up mom and pop stores like every other large retailer, it is juxtaposing its new e-commerce venture on mom-and-pop stores, or kirana stores as they are called in north India, by modernizing them. This strategy of erasing lines between offline and online retail will earn it rich dividends, <a href="https://www.businesstoday.in/markets/company-stock/reliance-industries-market-capitalisation-rises-reliance-jio-jio-fiber-bofa-ml/story/385191.html">believes</a> research firm Bank of America-Merrill Lynch (BofA-ML). In its latest report, the firm predicts that Reliance Retail’s market value will skyrocket to a massive $200 billion in two years. A big chunk of the value created will come from serving the kirana stores. Since 90% of India’s retail market is unorganized and dominated by kirana stores--Reliance might have a wide market to play in. So what is it that Reliance is offering these small stores? <ol><li>Reliance Retail intends to help shopkeepers enter the new digital age and will be aided by an agile Jio, its innovation and country-wide strong network. </li><li>RIL’s Point of Sale (PoS) offering (or New commerce business, as the company calls it) will help merchants take online orders, generate GST-compliant bills, get inventory decline alerts etc. It can also help them migrate to GST and other tax regimes easily.</li><li>RIL also benefits by being able to offer Kiranas a faster delivery of replenished stocks, according to the report.</li><li>Even brands and consumers benefit in this initiative with Brands benefiting from better data analytics, better ads and promotion of their products. Customers could get access to discounts directly from brands without the merchant looking to offer incentives. Trials have already stated for this service, BoFA-ML said.</li><li>Ambani intends to add more services and offerings. At the IMC 2019 event, it introduced an app which will allow small businesses to make <a href="https://www.businessinsider.in/tech/enterprise/news/reliance-jio-is-offering-a-new-bot-maker-for-small-businesses-to-build-their-own-video-call-assistants/articleshow/71590602.cms">their own chatbot</a>. That will directly aid the millions of kirana stores which could be connected in.</li><li>Recently, Reliance Industries backed startup Fynd launched Uniket, a direct-to-retail solution, which will help shopkeepers in Tier-II and Tier-III cities go online and expand their businesses. </li></ol>The Kirana stores will take time to change their usage patterns but when they do, it could lead to its growth at breakneck speeds of 20% per annum, the research firm says. “We estimate RIL will tie-up with 5 million kiranas in FY21 and 10 million by FY22. We expect RIL to be able to charge ₹500-750 per month per kirana as a service charge for its M-POS device (rather than an upfront fee),” the report said. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Revenue estimate in ₹ million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Implied growth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industry avg (3-year CAGR) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,744,158 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,346,035 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,818,581 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,282,231 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.4% </td></tr></tbody></table> Source: Bank of America Merrill Lynch report In the worst case of growth, this kirana business will add to $6 billion to the enterprise value to the overall base value of $36bn – that’s at least one-sixth of the additional value created come from one segment. If this business picks up faster pickup – it can contribute as much as $25 bn from new commerce and that will increase the total retail business value to $70 billion, as per Bofa-ML’s calculations. The icing on the cake for Reliance Industries’ investors will be the plan to spin off its retail and telecom ventures and list them individually. In a bid to grow fast and stave off large national and international players who are <a href="https://www.businessinsider.in/amazon-prepares-for-the-mukesh-ambani-challenge-with-a-bet-on-future-group-shares/articleshow/70799094.cms">established in the market like Amazon, Big Bazaar</a> and others, Ambani is taking the road less travelled.

Mukesh Ambani is set to make big money out of India’s millions of small kirana shops

<ul><li>The 30-share BSE index was down 40 points; while the Nifty shed nearly 7 points as of 10:06 am. </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex was trading flat after opening in green on Friday amidst negative cues from global markets. The 30-share BSE index was down 40 points; while the Nifty shed nearly 7 points as of 10:06 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan Limited </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td></tr></tbody></table>*as of September 11, 9:50 am These are the top stocks that are buzzing in trade today: Yes Bank trades 4% higher The shares of Yes Bank were trading 4% higher after the Bank said it repaid ₹50,000 crore that it procured from RBI under Reserve Bank’s special liquidity facility (SLF) amid the crisis faced by the lender earlier this year. Reliance Industries trades 1% higher; Future Retail gains 5% The shares of Mukesh Ambani owned RIL were trading nearly a percent higher after the company clarified on the news report about it selling Amazon $20 billion stakes in the retail arm. RIL said, “we do not comment on media speculation and rumours, and we cannot confirm or deny any transaction which may or may not be in the works.” Its recently acquired Future Retail was also locked in a 5% upper circuit. Max Healthcare trades 11% higher The shares of recently listed Max Healthcare gained 11% as nearly 4 crore shares of the company were traded in multiple blocks on BSE. Maruti Suzuki up 2% The shares of India’s largest carmaker Maruti Suzuki were trading 2% higher after the company’s promoter Suzuki Motor Corporation acquired 2.84 lakh shares from September 8-9. HAL down 2% The shares of state-owned Hindustan Aeronautics Limited (HAL) were trading 2% lower in red after it reported a 74% drop in its net profit to ₹148.7 for the first quarter ended June 30. The company’s overall revenue was down 47% compared to the same period last year. Granules India opened 3% higher The shares of Granules India opened 3% higher after its US subsidiary has received marketing approval from the US FDA for Dexmethylphenidate HCl extended-release capsules for the treatment of attention-deficit hyperactivity disorder. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/india-reports-96760-new-coronavirus-cases-in-last-24-hours/articleshow/78051725.cms" data-type="tilCustomLink">India reports 96,760 new coronavirus cases — the biggest single-day addition by any country since the pandemic began</a> <a href="https://www.businessinsider.in/thelife/news/meet-the-richest-women-in-india-who-have-a-combined-net-worth-of-18-billion/slidelist/78045349.cms" data-type="tilCustomLink">Meet the richest women in India who have a combined net worth of $18 billion</a>

Top stock movers — RIL, Future Retail, HAL, Yes Bank, Max Healthcare, Maruti Suzuki, Granules India, HCL Tech, Adani Ports and more

Mumbai, Apr 22 () Market benchmark Sensex jumped 743 points on Wednesday, propelled by index heavyweight RIL after Facebook announced it will pick up 10 per cent stake in Jio Platforms for USD 5.7 billion. Positive cues from global markets and Brent crude oil dropping to over two decade-lows also worked in favour of the bourses here, traders said. The 30-share BSE index ended 742.84 points or 2.42 per cent higher at 31,379.55. The wider NSE Nifty surged 205.85 points, or 2.29 per cent, to finish at 9,187.30. Reliance Industries was the top performer in the Sensex pack, rallying 10.30 per cent and contributing over half of the index's gains. Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in Jio Platforms -- a deal that will help RIL cut debt and use WhatsApp to create an Indian e-commerce giant that could rival Amazon and Walmart. The largest foreign direct investment (FDI) in the technology sector in India makes Facebook the biggest minority shareholder in Jio Platforms. Asian Paints, IndusInd Bank, Maruti, Nestle India, Hero MotoCorp and HUL were among the other gainers, spurting up to 5.04 per cent. Only four Sensex constituents ended in the red -- ONGC, L&amp;T, HDFC and PowerGrid, which shed up to 5.63 per cent. "Market rose led by the Facebook deal with Reliance Jio as investors reposed faith in select large-caps amidst shrinkage of economic activity due to the lockdown. "We witnessed further strength in afternoon trade as the US Senate approved the bill for a further package of $484bn," said S Ranganathan, Head of Research at LKP Securities. BSE energy index rallied 7.42 per cent, followed by auto, FMCG, oil and gas, bankex, IT and teck, which climbed up to 2.57 per cent. Realty and capital goods indices ended on a negative note. Broader midcap and smallcap indices rose up to 0.78 per cent. Global equities were largely positive as investors wagered on more measures to boost growth and resume economic activities amid the COVID-19 crisis. Bourses in Shanghai, Hong Kong and Seoul ended with gains, while Tokyo closed lower. Stock exchanges in Europe were trading significantly higher in early deals. Brent crude futures slipped 2.16 per cent to USD 18.91 per barrel. Meanwhile, the rupee recovered from record low levels to settle higher by 15 paise at 76.68 (provisional) against the US dollar. The number of COVID-19 cases in India inched closer to the 20,000-mark, while the death toll rose to 640. The pandemic has infected over 2.5 million people and killed more than 177,000. ANS ABM ABM

Sensex rallies 743 pts as Facebook dials Jio; RIL tops gainers' chart

<ul><li>Australia’s competition regulator – Australian Competition and Consumer Commission (ACCC) has alleged that <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> didn’t inform users clearly about how it used their personal data.</li><li>The <keyword id="1392353" type="PERSON" weightage="20" keywordseo="Australian-regulator">Australian regulator</keyword> alleges this has helped Google get consumer behavior information of millions of users.</li><li>For the tech giant Google, this is not a new accusation. It has been battling similar cases in several other countries.</li></ul>Google is caught in yet another legal hassle. Australia’s competition regulator - Australian Competition and Consumer Commission (ACCC) has filed a fresh case against the tech giant. The ACCC has alleged that Google didn’t clearly state or inform consumers - that in 2016 it combined personal information in Google accounts with activities on other websites that use the company’s technology. This, the Australian regulator, alleges has helped Google get consumer behaviour information of millions of users, which could further help the company for targeted advertising for its platforms – Google Ad Manager and Google Marketing Platform brands. “We are taking this action because we consider Google misled Australian consumers about what it planned to do with large amounts of their personal information, including internet activity on websites not connected to Google,” ACCC Chairman Rod Sims said in a statement. But this is not new for Google Google lost a similar battle in France. Earlier in June, <a href="https://techcrunch.com/2020/06/19/french-court-slaps-down-googles-appeal-against-57m-gdpr-fine/">Google failed to win</a> a plea against a $57 million fine in France for not being clear to Android users on how it uses the data of the users. The case was filed by France's data regulatory body CNIL. In May 2020, the state of Arizona had sued <a href="https://www.washingtonpost.com/technology/2020/05/27/google-android-privacy-lawsuit/">Google for illegal tracking of data</a> from Android users. In India too, the <a href="https://www.thehindu.com/business/google-faces-antitrust-case-in-india/article31689733.ece">Competition Commission of India</a> is looking into Alphabet Inc (Google’s parent company) regarding the misuse of its market position to push its own payments app. This move from the Australian regulator comes at a time when<a href="https://www.businessinsider.in/tech/news/the-ceos-of-apple-google-facebook-and-amazon-are-set-to-testify-before-congress-in-a-historic-antitrust-hearing-next-week-heres-whats-at-stake-for-each-company-/articleshow/77174799.cms"> Google along with Amazon, Facebook and Apple</a> is set to testify in front of the Antitrust committee in the US over claims of their dominance over digital platforms. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/earnings-of-companies-like-ril-tech-mahindra-hdfc-and-others-are-all-set-to-be-announced-this-week/articleshow/77189938.cms">RIL, Tech Mahindra earnings, options expiry and geopolitical events – top things that will move Sensex and Nifty 50 this week</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-likely-to-be-the-worst-hit-of-all-the-indian-it-services-giants-in-first-quarter/articleshow/77189909.cms">Tech Mahindra likely to be the worst-hit of all the Indian IT services giants in first quarter</a>

Google has been sued in Australia for alleged misuse of personal data

New Delhi, Apr 22 () Setting a new benchmark in dealmaking, the USD 5.7 billion investment by Facebook in Reliance Industries' Jio Platforms saw a bulk of the active M&amp;A dialogue, including for due diligence and agreement negotiations, happening remotely, bankers and advisors involved in the transaction said. This is one of the biggest deals that has taken place when there is a nationwide lockdown in India while same is the case for most states in the US -- the two countries where the two parties of this deal are based. The deal, which gives unlisted Jio Platforms an enterprise value of close to USD 66 billion, will help its listed parent firm Reliance Industries cut debt and also use Facebook's popular messaging platform WhatsApp as a front-end for creating an Indian e-commerce giant that could rival global giants like Amazon and Walmart. While Bank of America was the exclusive financial advisor to Facebook for this transaction, Morgan Stanley advised Reliance Industries. AZB &amp; Partners and Davis Polk &amp; Wardwell acted as counsels for RIL, while Shardul Amarchand Mangaldas was legal advisor for Facebook. Bankers involved in the deal said the active deal-specific dialogue had been going on for a few months before it became public, but broader discussion between Reliance Industries and Facebook was happening for much longer, which had started on talks for doing something together and then moved on towards getting to know each other and building the trust. "For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, all of that have happened remotely. Even some board meetings have happened remotely. Once the active M&amp;A dialogue began, most of that has happened remotely," a top banker said. Traditionally, deals of this magnitude, especially cross-border ones, involve extensive travel and physical visits to offices and facilities by top executives as well as financial and legal advisors from both sides for an all-round vetting, including of books of accounts and financial statements. Another banker said the deal discussions from Facebook's side were mostly driven by the social media giant's finance and M&amp;A teams, while legal teams were also involved actively. The overall business leadership team of Facebook was mostly involved in discussions at the back-end with various top stakeholders of Reliance Industries group, the banker said. Reliance Industries' Chairman and Managing Director Mukesh Ambani said Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration into education and healthcare sectors. "The combined power of Jio's world-class digital connectivity platform and Facebook's intimate relationship with the Indian people will offer innovative new solutions to each one of you," Ambani said. "In the very near future, JioMart -- Jio's digital new commerce platform, and WhatsApp will empower nearly three crore small Indian kirana shops to digitally transact with every customer in their neighbourhood," he said. WhatsApp has over 400 million users in India while Jio has 388 million-plus phone subscribers. Facebook itself has about 250 million users in India. The bankers said the deal gives an opportunity to Facebook to establish a broader partnership in India as the country is very important for the global giant and it sees a long growth horizon in Jio, both in terms of mobile and fixed broadband businesses. During the discussions, Facebook was also impressed with the way 'Jio Homes' is connecting houses with fibre broadband and it has become even more important during the ongoing lockdown to have good fibre connection. Besides, Facebook sees a great value in a suite of apps and OTT (over the top) platforms that Jio has created, the bankers said. Facebook is also excited about a proposed collaboration between WhatsApp and Jio Mart, where it sees the messaging platform becoming a front-end technology partner for Jio Mart, among various other long-term growth opportunities. WhatsApp users would be effectively able to shop what they want, using the backend of Jio Mart. Facebook itself is not in the business of setting up stores or warehouses or moving goods etc. The deal can see Facebook and WhatsApp customer in India getting connected to retailers across the country. Another person involved in the deal said it does not put Facebook in direct competition with Amazon, Walmart or Flipkart, but Jio Mart is clearly competing with those e-commerce platforms. He clarified Facebook itself is not creating a new app or platform, but WhatsApp itself is moving towards becoming a tool for e-commerce. The bankers ruled out any immediate plans for Facebook increasing the stake from 9.99 per cent. BJ RAM

Dealmaking in times of corona: Facebook-Jio sets new benchmark for remote negotiations

Prashant Kumar who lives in Noida sector 143 often goes to a nearby mall-cum-office complex with his family for some quick bites or gets a bank job done. The complex does not allow anyone without checking the Covid status on Aarogya Setu app on the visitors' smartphones, along with the mandatory thermal temperature screening. <keyword id="9999872" type="PERSON" weightage="20" keywordseo="whenever-kumar">Whenever Kumar</keyword> plans a visit to the complex, he updates the <keyword id="7313056" type="UNKNOWN" weightage="20" keywordseo="Contact-tracing">contact tracing</keyword> app on his smartphone as well as the devices with his family members, filling the self-assessment form by just ticking all the boxes with "none of the above' symptoms. And the app declares them "safe". As cities get unlocked and people begin to visit markets, eating joints, malls and other public places, this attitude is worrisome as this does not paint the real picture, especially if someone who is an asymptomatic Covid patient visits public places even with the 'safe' app tag on. "I only update the app while visiting the complex and leave it without any use for days. It surprises me that it is so easy to just fill in wrong details and enter wherever you want with the 'you are safe' tag," Kumar told IANS. Kumar said he has even seen people who are not aware of the Aarogya Setu app, downloading it right in front of the complex, filling the self-assessment form quickly with 'None of the Above' symptoms and entering the premises, only to remove the app later. According to latest data from app intelligence company Sensor Tower, Aarogya Setu downloads have decreased significantly in the country, as much as 90 per cent less last month compared to April when it was launched with much fanfare. As Delhi Metro resumed services after more than five months due to Covid-19 restrictions, officials in some stations, including Noida Sector 16, were seen trying to block entry of people into the station for not having "Aarogya Setu" app on their mobile phones during the initial trial phase. This despite the fact that in the new travel protocol for passengers published by Delhi Metro Rail Corporation (DMRC) on September 3, it mentioned that "the use of 'Aarogya Setu App' for updating health status by passengers will be advisable." However, as the services gathered full steam, passengers have hardly reported facing any questions about having the app on the smartphones. The decision of Bangalore Metro Rail Corporation Ltd (BMRCL) to make Aarogya Setu mandatory for metro commuters was brought to Karnataka High Court's notice this month after legal services organisation SFLC.IN's <keyword id="61253" type="COMPANY" weightage="20" keywordseo="advisory-board">advisory board</keyword> member Anivar A. Aravind filed a petition challenging the voluntary-mandatory nature of Aarogya Setu and invasion of privacy rights in the absence of a specific legislation governing data collected by it. Meanwhile, security guards at several outlets in shopping malls across the country are allowing entry only after visitors show they have the app downloaded on their mobile phones. A similar experience was reported by Aasheesh when he tried to visit a Lifestyle outlet at the City Centre Mall at Sector 10, Rohini in New Delhi. Visitors to government offices have also reported that they were allowed to enter the offices only after downloading the app. However, the biggest question is: Is it worthwhile to track people with Covid? "Several people in my localities have stopped using the app or removed it altogether as it at times creates panic, in case if the person was near a Covid-19 patient. The lack of proper guidance and right messaging, people have started to shun the app, including me," Nidhi Dixit from West Delhi told IANS. Aarogya Setu was developed by the <keyword id="6373306" type="COMPANY" weightage="20" keywordseo="national-informatics-centre">National Informatics Centre</keyword> under the Ministry of Electronics and Information Technology (MeitY) as the country's Bluetooth-based contact tracing app, with an objective of mapping of likely hotspots and dissemination of relevant information about Covid-19. The app utilises the data provided by users, to track if you may have come in close contact with a Covid-positive person via Bluetooth and location generated social graphs. It uses contact tracing to record details of all the people you may have come in contact with during normal activities. The app also consists of features such as the Self-Assessment Test, a complete list of helpline numbers across the country, and a Twitter feed that displays all the latest tweets from <keyword id="9195433" type="COMPANY" weightage="20" keywordseo="the-ministry-of-health">the Ministry of Health</keyword>. <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/ril-and-amazon-are-looking-at-indias-18-billion-online-grocery-market-to-be-their-next-battleground/articleshow/78314485.cms">RIL and Amazon are looking at India's $18 billion online grocery market to be their next battleground</a>

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Mukesh Ambani is set to make big money out of India’s millions of small kirana shops

Sanchita

Sriram

Top stock movers — RIL, Future Retail, HAL, Yes Bank, Max Healthcare, Maruti Suzuki, Granules India, HCL Tech, Adani Ports and more

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Sensex rallies 743 pts as Facebook dials Jio; RIL tops gainers' chart

PTI

Google has been sued in Australia for alleged misuse of personal data

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Dealmaking in times of corona: Facebook-Jio sets new benchmark for remote negotiations

PTI

Aarogya Setu downloads drop 90% since April

IANS

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