MUMBAI: India’s largest telecom operator Vodafone Idea Ltd is planning to raise money through a private infrastructure investment trust (InvIT) of its fibre assets, two people aware of the development said. A similar plan is being considered by rival Reliance Jio Infocomm Ltd.

As Paytm’s e-commerce unit struggles to compete against Amazon and Walmart-owned Flipkart that jointly commands close to 80% of the country’s e-commerce market, the former is understood to be in preliminary discussion with investors to raise around $500 million, an industry source told FE. The bulk of the funds would be spent on building Paytm Mall’s O2O (online-to-offline) strategy, the source said.

Shares of billionaire Mukesh Ambani-led Reliance Industries extended losses on Thursday, after global firm Morgan Stanley downgraded the stock. RIL share price tanked by more than 3% to hit the day’s low at Rs 1,259.15. Notably, the shares have lost more than 10% this week alone, taking the overall mcap loss to more than Rs 88,000 crore in the period.

Continuing to voice concerns over populist measures, the Reserve Bank Wednesday warned that income support schemes and farm loan waivers will lead to fiscal slippages for the states.

The remarks were made during a meeting between the members of the 15th Finance Commission and the RBI brass, including governor Shaktikanta Das and the deputy governors, at the central bank headquarters here.

Chinese automaker Chery Automobiles is reportedly keen on a joint venture with Tata Motors for an India entry.

State-owned Chery already has a JV with Tata Motors-owned Jaguar and Land Rover to make cars in China. The partnership was formed in 2012 and helped Jaguar Land Rover open their first assembly facility in Changshu, China in October 2014.

Amazon.com Inc. said it was hit by an "extensive" fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year.

Amazon believes it was the victim of a "serious" online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales into their own bank accounts, according to a UK legal document.

L&T is fast inching towards touching the 26 per cent shareholding threshold in Mindtree, as the engineering firm on Wednesday bought an additional 2.29 per cent stake worth Rs 368.4 crore through open market transaction. With this round of buying, total holding of L&T reached 23.92 per cent in the Bengaluru-headquartered IT services company.

Shares of YES Bank fell about 2.5 per cent to Rs 157 on the BSE during the early morning trade on Thursday after rating agency India Ratings (Ind-Ra) downgraded the bank’s long-term ratings even as it reaffirmed the short term rating.

The stock was trading close to its 52-week low of Rs 147 touched on November 29, 2018 in intra-day deal.

Enrolled under NTPC’s ‘Super 30 girls’ programme, a Corporate Social Responsibility (CSR) initiative introduced by India’s largest power generating company, 18 girls, out of 25, have successfully qualified for the IIT JEE mains.

The year-long residential program, implemented with an objective to coach students belonging to economically weaker families, brought these aspirants a step closer to fulfilling their dream of studying in some of India’s premier institutes.

The lenders to Reliance Communications (R-Com) on Tuesday moved the National Company Law Tribunal (NCLT) seeking to appoint a new resolution professional and form a committee of creditors, the first step to start the bankruptcy process against the Anil Ambani group company that owes close to Rs 50,000 crore to 31 lenders, led by the State Bank of India.

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