Bengaluru: E-commerce marketplace Flipkart, which touched the 100-million registered user mark last month, is considering options including opening brick-and-mortar stores in small cities as part of a so-called online-to-offline (o2o) strategy to attract more shoppers.

The initiative, known internally as assisted commerce, is one of several the company is working on, said an executive who requested anonymity. Flipkart is seeking to double its current user base at a time when the broader Indian e-commerce market faces stagnation.

MUMBAI: Infosys said it conducted two investigations after the resignation of its chief financial officer Rajiv Bansal that did not reveal any wrong-doing and clarified why some payments of his pay had been suspended, as the IT company tried to put an end to the speculation surrounding the exit.

Infosys has been the subject of many stories following Bansal’s resignation last October, not the least of which said that Infosys’ founders had interfered to stop what they considered his out-size severance payments.

Reliance Industries surprised the Street with a record standalone net profit of Rs 7,704 crore for the quarter ending September 2016 (Q2 FY17), 17.9 per cent higher than the Rs 6,534 crore profit after tax (PAT) reported in the same period last year. Bloomberg consensus estimates had pegged the net profit at Rs 7,239 crore on revenue of Rs 58,004 crore. Standalone revenue, too, was ahead of estimates at Rs 64,344 crore.

Wipro has acquired Appirio, a US-based company that helps companies implement cloud applications like Salesforce and Workday, for $500 million (Rs 3,325 crore).

Appirio, which has large offshore presence, is Wipro’s second purchase after Abidali Neemuchwala took over as chief executive of India’s third largest software exporter. The deal will help Wipro gain expertise in implementing applications on the cloud and for newer clients like Facebook, eBay and Home Depot.

Mumbai: Indian stocks advanced to a two-week high as the nation’s lenders rallied with consumer companies amid gains in regional equities.

The S&P BSE Bankex Index of 10 lenders climbed to a one-month high. The gauge is headed for its best week since July after the Essar Group’s $13 billion deal with a group involving Russia’s Rosneft PJSC improved prospects for loan recoveries at local banks.

Mumbai: After getting the power to regulate so-called collective investment schemes (CIS) in 2013, the Securities and Exchange Board of India (Sebi) has passed ban orders on at least 150 entities, but not been successful in refunding money to investors. Not even one CIS company has filed a winding-up report with the regulator, said three people with direct knowledge of the matter, including a Sebi official.

Samsung India Electronics will make all the future launches, including entry level smart phones, with 4G facilities and it expects to gain the market share in the current year on the back of new launches, a top company official said on Thursday.

“There is huge conversion happening from feature phones to smart phones at the entry level. This migration will continue.

Government-owned infrastructure consultancy RITES Ltd will provide its services to the Indian Railways Catering and Tourism Corporation (IRCTC) for projects to upgrade railway stations and allied facilities.

The IRCTC has signed a Memorandum of Understanding (MoU) with RITES which will undertake design and detailed engineering for the projects in addition to managing the bid process for selection of agencies that will carry out the construction work.

Union Home Minister Rajnath Singh assured full support for the release of Ae Dil Hai Mushkil (ADHM) in cinema halls, said Film & Television Producers Guild of India president Mukesh Bhatt.

Speaking to media after their meeting, Mukesh Bhatt said, "Rajnath Singh ji assured us 100% support and that he will convey to CM to maintain law and order." He also said that the Home Minister said he would speak to the chief minister of every state and that ADHM will release without any violence or issue.

Ashok Leyland Ltd has bagged order worth $170 million (around Rs 1,140 crore) from the United Republic of Tanzania. The order includes supplying of vehicles, gensets, spares and equipment for development of workships, training modules and allied equipments to be fitted on ambulances.

Vinod K Dasari, managing director, Ashok Leyland commented that exports is an import part of Ashok Leyland's strategic intent to globalise its product portfolio and derisk itself from supplying only into India.

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