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.

Reliance Industries Limited (RIL) is set to divest a 20 per cent stake in its oil-to-chemicals business to Saudi Aramco, enabling the Indian conglomerate to shed debt, while giving Aramco improved access to a fast growing market.

Saudi Aramco is offering Reliance $15 billion for the stake — one of the largest foreign direct investments into India. RIL will get another $1 billion, or Rs 7,000 crore, from a joint venture with BP that will retail auto fuels and ATF in the country.

The Reserve Bank of India’s decision to cut the policy repo rate by 35 basis points has unleashed a series of implications for the debt market, which no investor can afford to ignore. The apex bank’s latest stance, largely being billed as “accommodative”, comes at a time large sections of the economy are said to be ailing. Several key areas, including automobiles, financial services, capital goods and power, are displaying signs of weakness.

NEW DELHI: Six candidates, including incumbent Ravi Shastri, were on Monday short-listed for the high-profile post of the Indian cricket team's head coach.

The six candidates are former New Zealand coach Mike Hesson, ex-Australia all-rounder and Sri Lanka coach Tom Moody, former West Indies all-rounder and Afghanistan coach Phil Simmons, ex-India team manager Lalchand Rajput, former India fielding coach Robin Singh and Ravi Shastri.

The government has detected Goods and Services Tax (GST) evasion of over Rs 45,000 crore during the financial year 2018-19. Of this, tax sleuths have recovered an amount of Rs 25,000 crore during this period, as per the data available with the finance ministry. The revenue department of the ministry has registered around 37,000 cases in the last fiscal.

As many as 43 people died, while three remained missing on Monday in the Pune division as incessant rainfall continued to batter Maharashtra, an official statement said.

A statement from the Divisional Commissioner Office in Pune revealed that over four lakh people were evacuated from as many as 584 villages to safer places due to floods in the five districts of Pune division.

US President Donald Trump’s administration unveiled a sweeping rule on Monday that some experts say could cut legal immigration in half by denying visas and permanent residency to hundreds of thousands of people for being too poor.

The long-anticipated rule, pushed by Trump’s leading aide on immigration, Stephen Miller, takes effect Oct. 15. It would reject applicants for temporary or permanent visas if they fail to meet high enough income standards or if they receive public assistance such as welfare, food stamps, public housing or Medicaid.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.