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In the Jeff Bezos vs <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> battle royale for the Indian retail market, which is now also evolving into a 'videshi vs swadeshi' battle, questions are being raised by corporate watchers. Eight absolutely unknown facts are emerging in the <keyword id="10174110" type="UNKNOWN" weightage="20" keywordseo="Bezos-vs-Ambani">Bezos vs Ambani</keyword> battle. 1. Has <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>'s Jeff Bezos disclosed all of the Amazon-<keyword id="23644" type="COMPANY" weightage="20" keywordseo="future">Future</keyword> agreements to Future Retail Ltd (FRL) shareholders? To this, corporate watchers say no. Bezos has invested 49 per cent in Future Coupons Ltd (FCL), a promoter company of FRL. 51 per cent of FCL is held by Kishore Biyani, an Indian resident. FCL, in turn, has 9.82 per cent holding in FRL. It looks as though that FCL is controlled by Biyani with his holding of 51 per cent. This is a requirement under India's FDI Regulations. Bezos cannot hold directly even one share in FRL. On the face of it, he seems to be in compliance with FDI Regulations. But, the reality is different. In a two-tier structure, Bezos has taken control of FRL, which is prohibited under FDI Regulations: (i) Tier 1 is a shareholders' agreement between FRL, FCL and other promoters of FRL – in terms of this agreement, without FCL's consent, FRL cannot transfer its assets or business to any third party and its board cannot even consider such a proposal. (ii) Tier 2 is a shareholders' agreement between FCL, Amazon and other promoters of FRL – in terms of this agreement, Bezos has taken over the rights of FCL under the FRL shareholders' agreement. (iii) Thus, effectively Bezos controls FRL. The Future Retail shareholders agreement and the Future Coupons shareholders agreement have never been disclosed to any Indian regulator. If they are disclosed: (i) SEBI will find that Bezos has taken control of FRL and will mandate him to make an open offer at a price of Rs 500 per share. (ii) ED will find that Bezos has invested in and taken control of a multi-brand retail company without Government approval and hoodwinked the Government of India. 2. Has FRL amended its Articles? Amazon's rights in FCL were carried as part of the amendment to the Articles of FCL. FRL Articles have not been amended. This is because, had the amendment been proposed to the shareholders disclosing that Amazon will exercise the rights of FCL under FRL shareholders' agreement, the public shareholders would have never approved it. 3. Amazon could not have invested in FRL through FDI route under FDI Policy. Then, how does it have enforceable rights against FRL? For this, Amazon has gone through the above mired (and convoluted) structure; FRL is engaged in Multi Brand Retail Trade (MBRT); Foreign Direct Investment (FDI) - up to 51 per cent - in MBRT is allowed only with prior permission of the government, which will also be subject to veracious conditions, including sourcing of materials within India and management control etc.; Amazon wants to control multi brand retail space, but without any of the legal hassles; therefore, in a convoluted manner, it went ahead with the mired illegal structure; if the veil is pierced and the transaction structure is studied in detail, it will be found illegal, corporate watchers said. The fact that Amazon has obtained an interim order from the Emergency Arbitrator injuncting the public company, FRL not to proceed with the scheme, inspite of not having any direct shareholding in FRL, shows that the contractual rights are nothing but "control", in violation of SEBI and FDI Regulations. Bezos is learnt to have followed a similar investment structure while investing in More Retail; where he invested Rs 4,200 crore; For FDI violations, the consequence is, apart from annulment of transactions, Bezos is exposed to penalty of up to three times the investment – ~Rs 5,630 crore x 3 times = Rs 16,890 crore, sources said. For violation of SEBI Takeover Regulations, apart from penalty, they may also be liable to be prosecuted. 4. How as a foreign company Amazon asserted control over FRL and its Board? And on FRL shareholders? The assertion shows that Amazon has violated FDI and SEBI Regulations. If Amazon asserts control, it needs to make an open offer. 5. Amazon is asserting control over FRL. Does it violate FDI policy? Yes. 6. Have all of the agreements been disclosed to regulators – SEBI, ED, etc.? No – details of transaction selectively provided – in an obfuscated manner Enforcement Directorate, SEBI, Ministry of Company Affairs, and other authorities etc, must direct Amazon to disclose the agreements and details of actual arrangements in and commence inquiry. 7. What is the crux of the SIAC'd Interim Order? It records that Amazon's entire investment was for its direct interests in FRL. 8. Is Mukesh Ambani a competitor of Bezos? Bezos cannot carry on multi brand retail in India. He can carry on only market-place e-commerce in India. Yet, his Amazon is referring to Ambani's <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> as its competitor. Reliance can be Amazon's competitor only if the latter is permitted to do MBRT.

Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight

The arbitration proceedings between Amazon and Kishore Biyani have begun in Singapore. Former Attorney General of Singapore, V.K. Rajah concluded arbitration hearing on Friday, October 16 and will deliver his ruling on or before Monday, October 26, sources said. Rajah, former Attorney General of Singapore, is the sole arbitrator in the Amazon vs. Future vs. Reliance arbitration matter. An emergency hearing of the arbitration took place in Singapore on Friday. Harish Salve appeared for the Future Retail (being acquired by RIL) while Singapore based lawyer, Davinder Singh appeared on behalf of Future Coupons Pvt Ltd. (FCPL) -- the holding company of Kishore Biyani. Gopal Subramanium, former Solicitor General of India, appeared for Amazon. The hearing is said to have lasted for 5 hours. The arbitrator V.K. Rajah said that he would deliver his judgment on or before Monday. That judgement will eventually decide the fate of Reliance's deal with the Future Group. Amazon's investment in FCPL is around Rs 1,500 crore, which is an insignificant amount for <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword> -- the richest man in the world and CEO of Amazon. According to experts, Amazon's legal salvo at Future is indirectly aimed to thwart Reliance's attempt to establish its leadership position in the Indian retail sector. Analysts see this as a war between world's richest man Jeff Bezos, having a networth of $204.6 billion and India's richest man, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> with a (net worth $ 88.4 billion for a control over India's retail sector.

Jeff Bezos and Mukesh Ambani's legal battle - a possible verdict on Monday will decide the fate of Reliance-Future Retail's deal

<ul><li>The Reliance Industries AGM saw chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> announce multiple plans across e-commerce, cloud and content. </li><li>In all three categories, <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> has been ramping up its operations in India. </li><li>This will put Ambani and Bezos in direct competition, as both try to garner a bigger market share in India – one of the fastest growing internet economies in the world.</li></ul>It’s a fight for the finish in India’s internet industry and the two competitors are the world’s richest company Amazon and India’s richest conglomerate Reliance Industries. Brewing the fight are two masterminds – <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword> and Mukesh Ambani – both of whom want a piece of the large pie that can arise from engaging India’s 500 million internet users. Globally, Amazon has managed to thwart every competitor – traditional or new in every other market. But, Bezos who calls Amazon “India’s apni dukaan” (India’s own shop), might not have it so easy. Indian billionaire Ambani is leaving no stone unturned to claim the Indian internet space. Amazon’s customer acquisition strategy runs across three verticals – e-commerce for the fast growing number of online shoppers, cloud for business owners and content platform for entertainment and video. And now, Jio has fired a salvo in every vertical that Amazon operates in. At the annual general meeting of Reliance Industries, Ambani demonstrated how he wants to take over each one of Amazon’s segments. Shopping for India’s internet users Ambani has interesting ammunition. For one, he has over 340 million customers for his telecom service. Added to that, he is planning to get more...around 500 million by providing fixed broadband service at every nook and corner of the country. Reliance Retail which is expected to launch its e-commerce offering by October, also showed a sneak peak into what they have in store for shoppers. Reliance's fibre customers will offer an immersive shopping experience using mixed reality (augmented reality and virtual reality combined). Ambani’s children Isha and Akash also demonstrated a shopping experience with Jio’s augmented reality advancements, where a 3D hologram of the user will help the shopper try on different colours of the garment. This is not good news for Amazon which holds 30% of the Indian e-commerce market, and has plans to grow. Amazon too has been experimenting with virtual reality. During the Prime Day sale, Amazon had set up virtual reality experience zones for consumers. But looks like Reliance will lure its existing fibre customers into its own shopping zones. Ambani also said that Reliance will offer end-to-end digital stack to "enable and empower" small merchants. Today, Amazon too launched The Amazon Marketplace Appstore in India, a platform created for sellers to discover trusted third-party applications that can help them automate, grow and manage their business. Building businesses on cloud One of Amazon’s biggest businesses is its Amazon Web Service finds clients with the bigwigs of the tech industry in the country who use its cloud services to build their businesses. AWS has also partnered with Wipro to set up co-innovation centres in India. Ambani has entered this business too. He joined hands with Microsoft. Satya Nadella made a surprise cameo at the AGM via video feed to announce Jio’s partnership with Microsoft Azure. “Jio will build new custom solutions on Microsoft Azure for large enterprises who have already benefited from our technology platforms. Companies will also have easy and affordable access to best-in-class technologies like data analytics, AI, cognitive services, blockchain, IoT and edge computing to accelerate India’s digital transformation and enable grassroots innovation,” said Microsoft. Prime vs Jio, Indian OTT’s new war Amazon’s content platform Prime Video launched in 2016 and has since then stirred up the OTT competition in India, moving up against Netflix, Hotstar among others. Prime Video has seen multiple original web content series from India like Made in Heaven, Inside Edge which have become big hits. And now, Jio has a strong strategy to disrupt the OTT space in India. Jio Fibre services will come bundled with ‘most-premium OTT applications’. Not only that, premium subscribers of Reliance Fibre will also be able to watch movies on the very same day they release in theatres, taking away Amazon Prime’s sweet spot. It is known to bring movies to its platform within a few weeks of release. See Also: <a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms">Mukesh Ambani's speech at the Reliance Industries AGM had ten big takeaways</a>

Mukesh Ambani’s Reliance Jio is taking on Jeff Bezos’ Amazon in e-commerce, cloud, and content

The <keyword id="62830" type="PERSON" weightage="20" keywordseo="Indian-Stock-market">Indian stock market</keyword> recovered from the initial decline on Tuesday morning to trade in the green with the <keyword id="10175204" type="UNKNOWN" weightage="20" keywordseo="bse-sensex-trading">BSE Sensex trading</keyword> over 150 points higher. Healthy buying was witnessed in the banking and FMCG stocks. At 10.50 a.m., Sensex was trading at 40,299.32, higher by 153.82 points or 0.38 per cent from its previous close of 40,145.50. It opened at 40,199.08 and has so far touched an intra-day high of 40,311.69 and a low of 39,978.39 points. The Nifty50 on <keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">the National Stock Exchange</keyword> was trading at 11,793.70, higher by 25.95 points or 0.22 per cent from its previous close. The top gainers on the Sensex so far were Kotak Mahindra Bank, Nestle India and NTPC, while the major losers were Infosys, ONGC and IndusInd Bank. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms" data-type="tilCustomLink"> EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a> <a href="https://www.businessinsider.in/business/news/bezos-vs-ambani-battle-eight-questions-regarding-amazons-disclosures-of-future-deal-will-be-in-the-spotlight/articleshow/78883583.cms" data-type="tilCustomLink">Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight</a> <a href="https://www.businessinsider.in/education/news/how-to-register-for-neet-counselling-2020-online/articleshow/78884869.cms" data-type="tilCustomLink">NEET counselling 2020 registrations begin today: Here’s all you need to know</a>

Indian equity markets trade higher led by banking, consumer good stocks

<ul><li>On Thursday, the <keyword id="6355014" type="UNKNOWN" weightage="20" keywordseo="delhi-high-court">Delhi High Court</keyword> upheld the emergency arbitrator’s award in favour of the Jeff Bezos-led company.</li><li>The shares of Kishore Biyani’s <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> plunged by 9.99% on Friday morning.</li><li>However, Future Group said that the order would have no impact as the matter is in the Supreme Court.</li></ul>The shares of Kishore Biyani’s Future Retail Ltd plunged 9.99% at 11.25 am on Friday, one day after Future Group lost the case against <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> in the Delhi High Court. The company’s shares were trading at ₹55.85 at the time. The debt-ridden Future Retail, whose woes only worsened during the COVID-19 pandemic, had been acquired by Asia’s richest man Mukesh Ambani’s Reliance Retail. But for over six months, the deal has been tangled in legal cases, with an opposition from e-commerce giant Amazon. Over the last year, Future Retail’s share price has more than halved. <div type="image" title="frl share price" msid="81583605" hostid="261"></div> On Thursday, the Delhi High Court upheld the emergency arbitrator’s award in favour of the Jeff Bezos-led company. The judgement given by Justice JR Midha said that Future Retail, Future Coupons, Kishore Biyani and others violated the Emergency Award, and also questioned ‘why should they not be detained in prison,’ reported legal news platform <a href="https://twitter.com/barandbench/status/1372508624497508361">Bar &amp; Bench.</a> The High Court also directed Future Group to approach authorities to recall all approvals granted to Future Retail-Reliance deal. The court also asked Biyani’s Future Group to place on record any action taken by it in connection with the Reliance deal after October 25, 2020, while also slapping a ₹20 lakh fine on the company. In a regulatory filing today morning, Future Retail said that “this order does not come in the way of continuance of the ongoing NCLT proceedings”, as the matter is already in the Supreme Court. Earlier in January 2021, Future Group had moved the National Company Law Tribunal (NCLT) seeking an approval to hold its shareholders meeting for the scheme of amalgamation with Reliance group. “The Hon’ble Supreme Court, in its order in Amazon’s appeal, has not vacated the stay granted by the Hon’ble Division Bench (which stay is still in operation). The Hon’ble Supreme Court has directed that, in the meantime, the NCLT proceedings will be allowed to go on but will not culminate in any final order of sanction of scheme,” said the company. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/delhi-high-court-brings-up-civil-prison-for-violation-directs-future-group-to-recall-approvals-granted-to-future-retail-reliance-deal/articleshow/81570521.cms">Kishore Biyani vs Amazon – Delhi High Court brings up ‘civil prison’ for violation by Future Group, asks for recall of approvals granted to Future Retail-Reliance deal</a> <a href="https://www.businessinsider.in/stock-market/news/easemytrip-ipo-listing-price-at-13-5-premium/articleshow/81581828.cms">EaseMyTrip lists at 13.5% premium – but gives up some of the listing gains soon after</a>

Future Retail shares take a massive hit as it loses the case against Amazon in Delhi High Court

<ul><li>The 30-share BSE index Sensex was down 100 points, and the NSE Nifty was trading 0.25% lower at 9:55 am. </li><li>Here’s a list of 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 indices opened on a choppy note on Tuesday, tracking losses in index majors Reliance Industries, ICICI Bank and Infosys amid negative cues from global markets. The 30-share BSE index Sensex was down 100 points, and the NSE Nifty was trading 0.25% lower at 9:55 am. Here’s a list of 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;">Kotak Mahindra Bank </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;">NTPC </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;">IOC </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;">Shree Chem </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;">ONGC </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;">Nestle India </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;">GAIL </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;">Asian Paints </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></tbody></table>*as of October 27, 10:00 am These are the top stocks in news today. <keyword id="46013" type="CITY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword> up over 8% The shares of Kotak Mahindra Bank were trading 8% higher. Double boost coming in for this banking stock on back of brokerage upgrades post the second quarter earnings. Also, the announcement of MSCI sectoral cap changes bodes well and could mean an inclusion in the index. NTPC trades 3% higher The shares of National Thermal Power Corporation (NTPC) gained over 3% ahead of the board meeting on November 2 to consider the share buyback plan. <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> zooms over 12% The shares of the recently listed broker, Angel Broking zoomed over 12% after the company posted the highest ever quarterly profit-after-tax at ₹74 crore for the quarter ended September 30. The company in its regulatory filing said its total income grew 29% to ₹317 crore for the quarter under review. <keyword id="127124" type="CITY" weightage="20" keywordseo="DHFL">DHFL</keyword> locked in 5% lower circuit The shares of DHFL were locked in a 5% lower circuit in minutes after opening on Tuesday. The downturn came after lenders of debt-ridden DHFL have asked the four bidders to get back with a revised offer by October 31 as part of the on-going resolution process. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy. Reliance Industries and <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> trade in red The shares of Reliance Industries and Future Retail were trading in red as the tussle between Amazon, and Future Retail continued for the Reliance Retail deal. Reliance Industries (<keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword>) was trading 0.55% lower, and Future Retail was down 3%. The media <a href="https://www.indiatoday.in/business/story/future-group-liquidiation-reliance-deal-amazon-singapore-arbitrator-1735423-2020-10-27">reports </a>also claimed that if the RIL deal does not materialise, Future Retail may look at liquidation. <keyword id="112668" type="COMPANY" weightage="20" keywordseo="Finolex-Industries">Finolex Industries</keyword> open 6% higher The shares of the manufacturer of PVC water pipes, Finolex Industries gained over 6% after the company reported a 17% year-on-year (YoY) jump in net profit to ₹120 crore in September quarter. Cadila Healthcare trade a percent higher The shares of drugmaker Cadila Healthcare were trading nearly a percent higher after a media <a href="https://www.bloomberg.com/news/articles/2020-10-26/covid-vaccine-developer-in-india-plans-to-boost-capacity-by-70">report claimed</a> that the Indian drugmaker is in talks with potential partners to ramp up its indigenous COVID-19 vaccine development and production capacity. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms" data-type="tilCustomLink"> EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a> <a href="https://www.businessinsider.in/business/news/bezos-vs-ambani-battle-eight-questions-regarding-amazons-disclosures-of-future-deal-will-be-in-the-spotlight/articleshow/78883583.cms" data-type="tilCustomLink">Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight</a> <a href="https://www.businessinsider.in/education/news/how-to-register-for-neet-counselling-2020-online/articleshow/78884869.cms" data-type="tilCustomLink">NEET counselling 2020 registrations begin today: Here’s all you need to know</a>

Top stock movers — Kotak Mahindra Bank, Future Retail, RIL, Angel Broking, DHFL, Finolex Industries, and others

<ul><li>The SGX Nifty was trading 0.18% lower at 7:47 am, indicating a tepid opening 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>Amidst negative cues from the global markets, the Indian equities are likely to open flat on Wednesday. The SGX Nifty was trading 0.18% lower at 7:47 am, indicating a tepid opening for Nifty50. The US stock markets closed lower as concerns about the economic impact of surging coronavirus cases and bleak stimulus outlook sent shares tumbling. The Dow Jones Industrial Average closed 0.80% lower. And, the S&amp;P 500 fell 0.30% on Tuesday. These are the stocks to watch out for during the trading session on October 28: Hero Motocorp The country’s largest two-wheeler maker, Hero MotoCorp and US bike maker Harley-Davidson have signed a <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-partners-with-harley-davidson-to-sell-harley-bikes-in-india/articleshow/78892210.cms?upcache=2">distribution agreement for the Indian market</a>. Hero Moto will sell and service Harley-Davidson motorcycles and sell parts and accessories and general merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India. Hero Moto will also <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-sold-more-bikes-in-second-quarter-and-that-will-aid-revenue-growth-but-profit-may-remain-under-pressure/articleshow/78892776.cms">report</a> its second-quarter earnings today. The shares of Hero Motocorp ended 0.6% higher on Tuesday. Tata Motors Tata Motors reported a consolidated net loss of ₹307.26 crore for the second quarter ended September 30. The company’s total revenue from operations declined to ₹53,530 crore in the quarter under review. However, its luxury car subsidiary Jaguar Land Rover (JLR), <a href="https://www.businessinsider.in/business/auto/news/tata-motors-loss-widens-to-307-crore-in-the-second-quarter-despite-jlr-returning-to-profit/articleshow/78891836.cms">returned to profit </a>with significant positive cash flow in the quarter. The shares of Tata Motors ended 2.21% higher on Tuesday. Airtel The telecom giant, <a href="https://www.businessinsider.in/business/telecom/news/airtel-beats-analyst-expectations-reports-record-quarterly-revenue-arpu-rises-to-162/articleshow/78891875.cms">Bharti Airtel reported its highest-ever quarterly consolidated revenue</a> on the back of a rise in data usage and higher realisations, helping it narrow losses in the July-September quarter. Consolidated revenue rose 22% to ₹25,785 crore in the September quarter while net loss narrowed to ₹763 crore. The shares of Airtel ended 0.17% higher on Tuesday. ICICI Bank The private lender bank ICICI Bank <a href="https://www.livemint.com/companies/news/no-us-sec-action-against-us-says-icici-11603848919125.html">said the US Securities and Exchange </a>Commission (SEC) does not intend to take any enforcement action against the bank related to its investigation into the lender’s loan impairment provisions under the US generally accepted accounting principles (GAAP). The shares of ICICI Bank ended 1.45% higher on Tuesday. JSW Steel JSW Steel informed investors that it had completed the acquisition of Asian Colour Coated Ispat through its wholly-owned subsidiary JSW Steel Coated Products Limited. The shares of JSW Steel ended 0.24% higher on Tuesday. Adani Gas The board of Adani Gas will meet on November 3 to consider raising up to $400 million through foreign currency bonds. The shares of Adani Gas ended 2.25% higher on Tuesday. Cochin Shipyard Cochin Shipyard has inked a pact with Italy’s Fincantieri for cooperation in areas like shipbuilding and ship repair. Fincantieri is one of the world’s largest shipbuilding groups and a leader in diversification and innovation with over 230 years of history and more than 7,000 vessels built, operating 18 shipyards in four continents. The shares of Cochin Shipyard ended 0.61% lower on Tuesday. L&amp;T, Axis Bank, Marico, Titan and Dr Reddy’s L&amp;T, <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-q2-earnings-indias-third-largest-private-lender-to-see-slower-loan-growth-and-collections/articleshow/78894218.cms">Axis Bank</a>, Marico, Titan and Dr Reddy’s, among others are slated to report their second-quarter earnings today. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms" data-type="tilCustomLink"> EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a> <a href="https://www.businessinsider.in/business/news/bezos-vs-ambani-battle-eight-questions-regarding-amazons-disclosures-of-future-deal-will-be-in-the-spotlight/articleshow/78883583.cms" data-type="tilCustomLink">Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight</a> <a href="https://www.businessinsider.in/education/news/how-to-register-for-neet-counselling-2020-online/articleshow/78884869.cms" data-type="tilCustomLink">NEET counselling 2020 registrations begin today: Here’s all you need to know</a>

Top stocks to watch — Hero Moto, Airtel, Tata Motors, ICICI Bank, Adani Gas, Marico, Titan, Dr Reddy’s and others

Out of the 1,463 candidates in the poll fray in the second phase of <keyword id="9317522" type="COMPANY" weightage="20" keywordseo="the-bihar-assembly">the Bihar Assembly</keyword> elections, 502 have criminal cases against them of which 389 are serious, a report claimed on Tuesday. The report was released by <keyword id="10176486" type="COMPANY" weightage="20" keywordseo="the-bihar-election-watch">the Bihar Election Watch</keyword> and the Association for Democratic Reforms (ADR) after analysing the self-sworn affidavits of all the 1,463 candidates contesting in the Bihar Assembly Elections Phase II. The second phase of the polls is scheduled in 94 <keyword id="68073" type="ORGANIZATION" weightage="20" keywordseo="Assembly-constituencies">Assembly constituencies</keyword> in 17 districts on November 3. The report said that out of the 1,463 candidates analyzed, 502, which is 34 per cent, candidates have declared criminal cases against them. "While 389 candidates, which is 27 per cent of 1,463 candidates have declared serious criminal cases against themselves," the report said. The report also claimed that the <keyword id="123786" type="ORGANIZATION" weightage="20" keywordseo="Rashtriya-Janata-Dal">Rashtriya Janata Dal</keyword> (RJD) has the maximum candidates with criminal cases registered against them followed by the BJP. It said, "Out of 56 RJD candidates, 36, which is 64 per cent, candidates have criminal cases against them, followed by the BJP with 29 out of 46 candidates which is 63 per cent." The report pointed out that out of the 24 Congress candidates, 14 have criminal cases against them which is 58 per cent, and out of 52 Lok Jan Shakti Party candidates 28, which is 54 per cent, also have criminal cases. The report pointed out that the ruling Janata Dal- United (JD-U) has the least number of candidates with criminal cases. "Out of 33 candidates in the second phase, 16, which is 49 per cent candidates from the BSP have criminal cases and from the JD-U, 20 out of 43 candidates, which is 47 per cent have declared criminal cases against them in their affidavits," the report said. The RJD again topped in the serious crime cases registered against candidates with 50 per cent, followed by the LJP with 46 per cent, the BJP with 44 per cent and the JD-U again at the bottom of the table with 35 per cent. The report said that out of the 50 candidates of the RJD, who were analysed, 28 have serious cases registered against them followed by the LJP with 24 out of 52 candidates, and 20 out of the 46 BJP candidates have serious cases against them. The report said that 14 out of the 33 candidates of the <keyword id="6356515" type="UNKNOWN" weightage="20" keywordseo="bahujan-samaj-party">Bahujan Samaj Party</keyword> (BSP), 10 out of 24 candidates of the Congress and 15 out of 43 candidates of the JD-U have serious criminal cases against them. It said that 49 candidates have declared cases related to crime against women, with four of them facing charges of rape. The report noted that 32 candidates are facing cases related to murder while 143 candidates are facing cases related to attempt to murder. It also said that in the second phase Assembly polls, 84 out of the 94 constituencies are red alert ones, which is a total of 89 per cent. According to the ADR, red alert constituencies are those where three or more contesting candidates have declared criminal cases registered against them. The report said that the directions of the Supreme Court have had no effect on the political parties in the selection of the candidates in Bihar as they have again followed their old practice of giving tickets to around 34 per cent candidates with criminal cases. It said all major parties contesting in Bihar second phase elections have given tickets to 47 per cent to 64 per cent candidates, who have declared criminal cases against them. It said the Supreme Court in its directions dated February 13 had specifically instructed the political parties to give reasons for such selection and why other individuals without criminal antecedents could not be selected as candidates. As per these mandatory guidelines, the candidates have to be selected with reference to qualifications, achievements and merit. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms" data-type="tilCustomLink"> EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a> <a href="https://www.businessinsider.in/business/news/bezos-vs-ambani-battle-eight-questions-regarding-amazons-disclosures-of-future-deal-will-be-in-the-spotlight/articleshow/78883583.cms" data-type="tilCustomLink">Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight</a> <a href="https://www.businessinsider.in/education/news/how-to-register-for-neet-counselling-2020-online/articleshow/78884869.cms" data-type="tilCustomLink">NEET counselling 2020 registrations begin today: Here’s all you need to know</a>

Bihar polls: 502 candidates have criminal cases, Lalu Yadav’s RJD tops the list

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, the richest man in Asia, is launching his own e-commerce platform in the second most populous country in the world, India.</li><li>The launch of ‘local’ e-commerce platform could bring in fierce competition against foreign players like Amazon since it wouldn’t be subject to the same scrutiny. </li><li><keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>’s offline avatar already serves 3.5 million customers every week. </li><li>Ambani states that this is a move against ‘data colonisation’ — a way to migrate control and ownership of Indian data back to India.</li></ul>Mukesh Ambani, the <a href="https://www.businessinsider.in/meet-the-ambanis-the-richest-family-in-asia-who-live-in-a-1-billion-skyscraper-and-mingle-with-royals-politicians-and-bollywood-stars/articleshow/67150327.cms">richest man</a> in India and in Asia, is gearing up to go head-to-head with Amazon’s <keyword id="191583" type="PERSON" weightage="20" keywordseo="Jeff-Bezos">Jeff Bezos</keyword>, currently the richest man in the <a href="https://www.businessinsider.in/jeff-bezos-is-worth-over-100-billion-heres-how-the-worlds-richest-man-makes-and-spends-his-money/articleshow/67259003.cms">world</a>. Ambani is planning to launch his own e-commerce platform in India, starting with the western state of Gujarat. Currently, the Indian e-commerce space is pretty evenly split between Flipkart and <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>, each <a href="https://www.forbes.com/sites/johnkoetsier/2018/05/18/report-amazon-india-worth-16b-with-30-market-share-will-hit-70b-gmv-in-2027/#5c498dc46b95">having</a> 30% market share. But Ambani’s entry — the entry of a strong ‘local’ e-commerce player — could upset that balance as local vendors are trying to <a href="https://www.businessinsider.in/amazon-and-flipkart-are-off-the-hook-youll-still-be-able-to-buy-the-amazon-echo-and-marq-products-online/articleshow/67379751.cms">fight off</a> the incursion of foreign retailers. When Ambani launched his own network, Reliance Jio Infocomm, it only took the company two years to garner 20% of the market share. In comparison, Amazon has been in India for over five years now and managed to <a href="https://www.thehindubusinessline.com/info-tech/flipkart-captures-51-market-share-in-festive-sale-says-report/article25258134.ece">capture</a> 51% of the market share during the most recent festive season. But, at the end of the day, they are indeed different industries. Ambani’s retail plans The Indian government is already pulling out the red carpet from under the feet of foreign players with its new e-commerce policy. The policy <a href="https://www.businessinsider.in/the-indian-government-just-dealt-a-serious-surprise-to-amazon-and-flipkart-heres-what-that-means-for-online-shoppers/articleshow/67272151.cms">cuts them off</a> from offering deep discounts or selling their <a href="https://www.businessinsider.in/amazon-and-flipkart-are-off-the-hook-youll-still-be-able-to-buy-the-amazon-echo-and-marq-products-online/articleshow/67379751.cms">own products</a> — like MarQ or the Amazon Echo. Ambani, who controls a $43 billion fortune, won’t be subjected to the same terms and conditions as a ‘local’ player in India. His plans reportedly include building an ‘immersive shopping experience’ using next-gen technology with augmented reality (AR) to compete against Amazon and Walmart-owned, Flipkart. 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="ExtQuote" text="&quot;Today, we have to collectively launch a new movement against data colonisation. For India to succeed in this data-driven revolution, we will have to migrate the control and ownership of Indian data back to India - in other words, Indian wealth back to every Indian.&quot;" auname="Mukesh Ambani to Prime Minister Narendra Modi at the 9th Vibrant Gujarat Summit"></div>



























 Reliance Retail, in its offline avatar, has already shown exponential growth over the past five years. From 2017 to 2018, its annual revenue increase two-fold from ₹337.65 billion ($4.73 billion) to ₹691.08 billion ($9.68 billion). 
 
 
 
 
 
 
 
 
 
 
 
 
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 Having been around since 2006, Reliance Retail serves over 3.5 million customers every week through its local shops, supermarkets and wholesale outlets that reach more than 6,500 Indian cities and towns. Once it goes live in Gujarat, it will be empowering the 1.2 million local shopkeepers in the state to sell their goods online. 
	
	
	
	
	
 
 
 
 
 
 
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 The Jio network has a part to play as well since it has been the driving force behind bringing 250 million people in India online. But for corners of the country that don’t have internet, Ambani’s plan includes utilizing the 5,100 smaller Jio Point stores, that are spread across 5,00 cities, as ‘last-mile’ connectivity for its e-commerce platform. See also: <a href="https://www.businessinsider.in/the-indian-government-just-dealt-a-serious-surprise-to-amazon-and-flipkart-heres-what-that-means-for-online-shoppers/articleshow/67272151.cms">The Indian government just dealt a serious surprise to Amazon and Flipkart — Here’s what that means for online shoppers</a> <a href="https://www.businessinsider.in/amazon-and-flipkart-are-off-the-hook-youll-still-be-able-to-buy-the-amazon-echo-and-marq-products-online/articleshow/67379751.cms">Amazon and Flipkart are off the hook — You’ll still be able to buy the Amazon Echo and MarQ products online</a> <a href="https://www.businessinsider.in/meet-the-ambanis-the-richest-family-in-asia-who-live-in-a-1-billion-skyscraper-and-mingle-with-royals-politicians-and-bollywood-stars/articleshow/67150327.cms">Meet the Ambanis, the richest family in Asia, who live in a $1 billion skyscraper and mingle with royals, politicians, and Bollywood stars</a>

You Searched For "Bezos vs Ambani" and got 9 results

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Indian equity markets trade higher led by banking, consumer good stocks

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Bihar polls: 502 candidates have criminal cases, Lalu Yadav’s RJD tops the list

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Amazon's newest challenger may be the richest man in Asia

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