Amazon is in late-stage talks to acquire as much as 10% of Kishore Biyani’s Future Retail, people familiar with the negotiations said, as the US company moves to bolster its brick-and-mortar presence in one of the world’s fastest-growing retail markets.

India’s No. 2 retailer by turnover, Future is seeking a valuation of about Rs 2,000 crore ($281 million) from Amazon for the stake, according to the people, who asked not to be identified.

Reserve Bank of India (RBI) has said that housing finance companies (HFCs) will be treated as a category of non-banks for which it will release a revised regulator framework.

RBI move follows the Budget announcement which takes away the regulatory powers from the National Housing Bank (NHB).

Cinema exhibition industry has put up a brave face in front of Reliance Jio’s announcement that the company will launch a service next year, where its premium Jio Fibre subscribers will be able to watch a new release the same day on their television sets as its theatre audience.

The exhibitors – PVR Cinemas and INOX Leisure – have said that theatrical and at-home are two completely different experiences and it is the call of the producers to choose on which platform their content would be distributed for consumption.

As markets opened on Tuesday after a long weekend, Bharat Heavy Electricals Ltd (BHEL) shares tumbled 10%, hitting a new 52-week low of ₹51. Investor dismay is not surprising given the company’s deplorable performance in the June quarter.

The power equipment manufacturer reported an operating loss of ₹266 crore in April-June, a sharp contrast to ₹361 crore profit estimated by 14 brokerages polled by Bloomberg.

One of the leading global FMCG companies P&G has partnered with three startups to drive automation and other tech solutions at the manufacturing sites of P&G’s three popular brands viz Ariel, Tide and Pampers. Maharashtra based Goken Technology India Pvt. Ltd. and Greenovative Energy Pvt. Ltd. and Chennai based Infomine Software Solutions were selected by P&G “to pilot innovative digitization and energy optimization solutions at P&G’s Hyderabad plant,” the company announced in a statement.

Extending the fall on Tuesday, YES Bank shares fell over 10 per cent after plunging nearly 8 per cent in the last session. However, the share price saw slight correction, even as YES Bank announced that its board’s capital raising committee (CRC) will consider the issue price for equity shares in regard to qualified institutional placement (QIP) on Thursday. YES bank shares hit their 5-year low of Rs 95.25. The stock of YES Bank ended the day at Rs 73.60, down 8.50 points, or 10.35 per cent on NSE.

American e-commerce giant Amazon is in advanced stage of discussions with Future Retail Ltd for picking up 8-10 per cent stake in the Indian retail chain, according to sources.

The deal with the Kishore Biyani-led company is expected to close in the next few weeks, sources close to the development said.

Domestic equity benchmark BSE Sensex dropped over 200 points in early trade on Tuesday, dragged by losses in index heavyweights HDFC twins, Infosys and ITC, amid weak global cues.

Shares of Reliance Industries (RIL), however, capped the losses on the index by rallying over 8 per cent.

In the wake of aggravating financial conditions of two electricity distribution companies (discoms) of Telangana, CARE Ratings has revised its rating outlook for 11 solar generators supplying power to the state from ‘stable’ to ‘negative’. Out of these, the agency has downgraded the ratings on projects of two subsidiaries of Acme Solar (Dayakara Solar and Grahati Solar) from A- to BBB+. Projects whose rating outlook has been revised downward include assets of ReNew Power and Mytrah Energy.

Shares of telecom companies Bharti Airtel and Vodafone Idea slumped on Tuesday after Mukesh Ambani said Monday that Reliance Industries has received strong interest from strategic and financial investors for its telecom and retail businesses. In the early trade on Tuesday, Bharti Airtel shares tumbled nearly 7 per cent to Rs 346.45 per share on BSE, while those of Vodafone Idea plunged about 10 per cent in the intraday trading today.

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