Despite the ongoing slowdown in the economy, e-tailers including Amazon and Flipkart have clocked in Rs 19,000 crore value sales in the six-day long festivities which started on 29 September. Homegrown Flipkart led the e-commerce platforms in terms of GMV (Gross Merchandise Value) with its standalone share at over 60%, consultancy firm RedSeer said. “Strong performance across categories including mobiles was the key reason for Flipkart leadership.

Air India Assets Holding (AIAHL), a special purpose vehicle formed by the government of India to acquire the non-core assets of Air India (AIL) and its subsidiaries among other things, is set to hit the non-convertible debentures (NCD) market on Thursday to raise upto Rs. 7,000 crore through 10-year paper, bond dealers said.

The proceeds of the NCDs will be used by AIAHL to refinance the loans availed by AIL. The issue will be open for bids on Thursday.

The recent outperformance of BPCL against other OMCs is pricing in upside from a potential open offer in lieu of control premium that maybe paid by a strategic buyer in a scenario of privatisation. Our reverse valuation also suggests that the market has already ascribed 10X EV/Ebitda to BPCL’s marketing business, at a premium to global M&A in the fuel retailing business, while ignoring differences with developed markets. Reiterate ‘Sell’ amid adverse risk-reward balance.

Maruti Suzuki India (MSI), the country's largest carmaker, reduced its production for the eighth straight month, as the automobile sector continued to reel under a slowdown. The company cut its production by 17.48% in September.

The company produced a total of 1,32,199 units in September as against 1,60,219 units during the same month last year, Maruti Suzuki said in a regulatory filing.

Chinese President Xi Jinping will be visiting India from 11th to 12th October to hold talks with PM Modi for the second informal summit between India and China.

India's ministry of external affairs in a statement said, "At the invitation of the Prime Minister, the President of the People’s Republic of China Xi Jinping will be visiting Chennai, India from October 11-12, 2019 for the 2nd Informal Summit."

The rupee on Wednesday opened 16 paise lower at 71.18 against the US dollar. The domestic unit on Monday depreciated by 14 paise to close at 71.02 as profit booking in domestic equities and unabated foreign fund outflows kept investors edgy.

"Indian rupee weakened along with other emerging Asian currencies against the US dollar as fresh doubts over US-China trade talks resurfaced after a report said that Beijing may be reluctant on agreeing to a broad deal,"

Several Gurdwaras are on the brink of trouble as they face a severe fund crunch before Gupurab on November 12, on account of not being able to withdraw deposits in the fraud-hit Punjab and Maharashtra Cooperative (PMC) Bank worth over Rs 1,000 crore in aggregate due to withdrawal restrictions imposed by the Reserve Bank of India (RBI). Several of the Gurdwaras which had deposited their money in PMC Bank accounts expressed their agitation on Monday over the withdrawal limit, citing religious reasons.

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after its chief executive stepped down and announced the axing 4,000 posts citing a weak global outlook.

The latest cuts mostly in high-paid roles are part of a fresh cost-cutting drive by new boss Noel Quinn as the banking titan struggles to adjust to falling interest rates, Brexit and the long-running trade war, the Financial Times reported.

SBI Debit Card EMI : With the festivities all around, the shopping season is at its full throttle. As manufacturers and dealers dole out deals, offers and discounts to the consumers, not participating in the shopping extravaganza could be a tad difficult. If you as a SBI customer holding a debit card and want to shop but pay back in installments, the country’s largest lender State Bank of India has launched ‘Debit Card EMI facility’ for its existing customers like you.

Amazon.com Inc. and rival Walmart Inc. reported record revenue for their six-day India sales festivals as e-commerce catches on with buyers and sellers in smaller Indian towns, moving beyond the country’s urban, English-speaking population.

The American competitors have been dueling in India since Walmart cut a $16 billion deal for control of local pioneer Flipkart Online Services Pvt last year.

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