American e-commerce major Amazon has formally entered the battle for Flipkart, a move that may slow down rival Walmart’s effort to buy a controlling stake in the Bengaluru-headquartered firm. Sources indicated that Amazon, which aggressively competes with Flipkart in the India market, has put in a matching bid along with a $2-billion breakaway fee. While a competing bid could possibly raise Flipkart’s valuation, thereby helping investors, Walmart is learnt to be determined to strike a deal with India’s e-commerce poster boy.

Taking the offline route to take on e-commerce biggies such as Flipkart and Amazon, Paytm Mall, which completed a year in April, is planning to invest $30 million over the year. It will develop and roll-out connected Point of Sale (PoS) solutions across 100,000 retail stores.

The PoS is a software-based system, which can be used on any smartphone or tablet. Shopkeepers can also take a PoS machine that Paytm Mall would provide for rent.

India’s benchmark equity index just managed to close in the green after swinging between gains and losses as weak sentiment in Asia offset the good cheer from strong auto sales in April.

The S&P BSE Sensex rose 0.1 per cent to 35,176.42 after falling as much as 0.3 per cent. The measure swung between gains and losses at least a dozen times. All but two of the 19 sector sub-indexes compiled by BSE fell, led by an index of metal stocks.

Markets regulator Sebi today put in place additional risk management measures, pertaining to margin collection requirement and computation of liquid net worth, for equity derivatives segment.

The decision has been taken after taking into account feedback from the clearing corporations and the recommendations of Sebi's risk management review committee, the regulator said in a circular.

US online retail giant Amazon has made a formal offer to buy a 60 per cent stake in India's leading e-commerce marketplace Flipkart, according to a report by CNBC TV18 which cited sources.

Amazon's offer to acquire a majority stake in Flipkart comes at a time when rival Walmart is close to completing a $12 billion deal to pick up an equivalent amount of stake in the Indian firm.

Bajaj Auto has announced its sales numbers for the month of April 2018 and during the period, the Pune-based manufacturer registered a growth of 26%. The company achieved this figure with a total sales of 4,15,168 vehicles last month. During the same period last year, Bajaj Auto sold 3,29,800 vehicles. Speaking of motorcycle sales, the company sold 3,49,617 units last month, reporting a growth of 19%.

Kotak Mahindra Bank Market Capitalisation: In a major development in the stock market proceedings on Wednesday, India’s fourth-largest private sector lender Kotak Mahindra Bank market capitalisation surpassed that of ONGC to enter the top 10 club by market capitalisation in India. Shares of Uday Kotak-led Kotak Mahindra Bank was among the top gainers among the components of BSE Sensex since the morning trades on Wednesday.

India’s market regulator is examining the cause for the worst drop in seven months in InterGlobe Aviation Ltd.’s shares before the operator of the nation’s largest airline announced the resignation of its president, according to people with knowledge of the matter.

Former Microsoft Corp. Chief Executive Officer Steve Ballmer said he sold his entire stake in Twitter Inc. because he no longer wants to focus on being an investor and the price was attractive. “The price looked pretty good,” Ballmer said in an interview with Bloomberg TV at the Milken Conference. “I’m not really excited as a profession to be an investor.”

The Telecom Commission on Tuesday cleared the recommendations made by the Telecom Regulatory Authority of India (Trai) on the regulatory framework for internet telephony services in the country. The development allows internet telephony services to be offered by an operator to its subscribers who may be using internet of other access service providers.

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