MSIL’s Q3FY19 Ebitda at Rs19.3bn was significantly below our (-25%) and consensus (-27%) estimate. Ebitda margins at 9.8% (Nom 13%, Consensus 13.5%) was impacted by higher commodity (100bp), discounts (100 bp), adverse forex (50 bp), inventory adjustment (30 bp), one-time in staff (20 bp) and operating de-leverage. Management mentioned that weaker than expected sales resulted in high discounts to clear off inventory and led to higher fixed costs.

Amazon is working with brands across sectors to enable them to build skills on its Alexa platform. From daily news updates to smart-home integrations, banking services, food ordering and cab hailing, Alexa has been equipped with more than 10,000 skills, as the service expands in India.

In a highly volatile action-packed week, the broader Nifty clocked 1.05% gains closing at 10893 with buying spree in the heavyweights. However, the mid and small cap indices closed marginally lower.Among the sectors Media (+5.84%) and Information Technology (+4.56%) lead from the front with Zee rising 11.63% post losing 27% in the last week. Tata Consultancy Services (TCS) gained 6% and Wipro hit a new high by gaining 5%.

There is more bad news for Dewan Housing Finance Ltd (DHFL), whose shares have lost over half of their value in the last one month. CARE Ratings has downgraded ratings on debt worth over Rs 1 lakh crore issued by DHFL.

The rating outfit cited moderation in financial flexibility as evidenced by a sharp reduction in share price and a significant rise in bond spreads. The rating action will make fund-raising more expensive for the housing finance company (HFC) targeting low- and middle-income families in tier II and III cities.

State Bank of India (SBI), which reported on Friday the highest quarterly profit of Rs 3,955 crore in seven years, has shown remarkable improvement in the non-performing assets, keeping slippages under check.

It is the second consecutive quarter that the bank is has stayed profitable.

Reliance Communications (RCom) plans to propose a similar debt resolution plan in the National Company Law Tribunal (NCLT) process which was being pursued earlier outside NCLT.

The Board of directors of RCom is eyeing a fast-track NCLT resolution in 2019, free of all uncertainties and challenges, and is confident of future prospects as a going concern under a new ownership on completion of the NCLT resolution process, the company said on Sunday.

In an apparent rescue act, Delhi Metro has decided to take over the operations of Gurgaon Rapid Metro, second such move after doing so with Airport Express Metro in 2013. Gurgaon Rapid Metro is owned by IL&FS Transportation Network Ltd (ITNL) — a subsidiary of the bankrupt IL&FS group.

According to the minutes of the meeting held between the state government of Haryana and managing director of Delhi Metro, Mangu Singh, the project will be taken over by DMRC for a period of five years.

US-based corporations Amazon and Walmart, which owns 77% stake in India’s largest online retailer Flipkart, together lost over $50 billion in market capitalisation on Friday after the government’s updated e-commerce policy came into effect. Both companies have made big bets on the Indian retail market - with Amazon committing $5 billion here while Walmart spent $16 billion last year to buy a controlling stake in Flipkart.

TVS Motor Company Saturday reported 4 per cent increase in total sales at 2,82,630 units in January as against 2,71,801 units in the same month last year.

Total two-wheeler sales grew by 2 per cent to 2,69,277 units in January 2019 as against 2,62,995 units in January 2018, the company said in a statement.

Alphabet Inc.’s Google became the most-profitable internet company by recruiting talented technologists and inspiring them enough to keep them around. That advantage may be slipping as some workers increasingly doubt the leadership and vision of Chief Executive Officer Sundar Pichai, according to recent results from an employee survey.

The annual internal poll, known as Googlegeist, asked workers whether Pichai’s vision of what the company can achieve inspires them.

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