Shares of Zomato extended their decline as they shed 7.5 per cent on Tuesday, to hit a low of Rs 61 per share on the BSE. The stock has declined 14 per cent in two days after it announced the acquisition of quick commerce firm Blinkit.

Over the weekend, the company announced acquisition of loss-incurring firm Blinkit for Rs 4,447 crore.

In a second major ruling on seconded employees in recent times, the Karnataka High Court has set aside an order of the Income-Tax Department that called upon Flipkart Internet to withhold tax on the payments it made to Walmart as remuneration to the staff it hired from the US major.

Seconded employees refer to those sent on deputation for a stipulated period for the mutual benefit of the companies concerned.

The government’s consumer affairs department said in May will create a framework to curb fake reviews. Now, a recent survey by LocalCircles finds 58 per cent of consumers said e-commerce websites don’t publish their negative ratings and reviews.

LocalCircles said the survey received over 69,000 responses from more than 38,000 unique consumers in 284 Indian districts.

India has reported over 45 per cent single-day rise in new Covid cases after 17,073 infections were reported in a span of 24 hours, the Union Ministry of Health and Family Affairs said on Monday.

On Sunday, a total of 11,739 Covid cases were reported.

The country has also reported 21 new Covid deaths, taking the nationwide toll to 5,25,020.

In a relief to rebel Shiv Sena lawmakers, the Supreme Court Monday kept in abeyance the disqualification proceedings before the Deputy Speaker of the Maharashtra Assembly till July 11 and sought responses to pleas by rebel MLAs questioning the legality of notices seeking their disqualification.

The top court, however, refused to pass any interim order on the plea of the Maharashtra government that there should not be any floor test in the Assembly and said they cannot always approach it in case of illegality.

Bajaj Auto Ltd on Monday said its board has approved a share buyback programme for an aggregate amount of up to Rs 2,500 crore.

The board of directors of the company, at its meeting held on Monday, approved the proposal for buyback of the fully paid up equity shares of the company with a face value of Rs 10 each from existing shareholders, except promoters and promoter group, from open market on the stock exchanges, Bajaj Auto said in a regulatory filing.

Airbus SE has emerged as the front-runner to win an aircraft order worth as much as $5.5 billion from Jet Airways India Ltd., people familiar with the matter said, solidifying the European planemaker’s hold in the world’s fastest-growing aviation market.

Tha talks are for A320neo jets and A220 planes, the people said, asking not to be identified because the deliberations are private. Boeing Co. and Embraer SA are also in discussions and no final decision has been taken, the people said. Although, at sticker prices, any transaction would be north of $5 billion, discounts are common in such large purchases.

Infopark Properties Ltd (IPL), a unit of Tata Realty and Infrastructure Ltd, has raised Rs 1,900 crore through two-year zero coupon bonds. The company enjoys financial flexibility by virtue of being part of the TATA group.

IPL will own 100 per cent of shareholding in TRIL Infopark Ltd (TIL) which operates the asset Intellion Park, Chennai (IPC), spread over an area of 4.6 million square feet (msf). CARE Ratings has assigned "A+" rating to non-convertible debentures (NCDs) with a 'stable' outlook.

Under the ‘Invest Rajasthan’ outreach programme, state Chief Minister Ashok Gehlot led Rajasthan government received the biggest investment pledges from Gautam Adani-led Adani Group and the Mukesh Ambani chaired Reliance Industries Ltd (RIL), a report by The Indian Express said.

Adani Group and RIL pledged more than Rs 1.68 trillion between December 2021 and March 2022 in Letters of Intent (LoIs) and Memoranda of Understanding (MoUs) with the Rajasthan government, data by the state's Bureau of Investment Promotion (BoIP) following the RTI application showed, stated the IE report.

China's leading automotive lithium-ion battery maker, Contemporary Amperex Technology Co Ltd (CATL), revealed a new battery that provides electric vehicles with a driving range of over 1,000 km on a single charge.

With the third generation of cell-to-pack (CTP) technology, the battery named Qilin, or CTP 3.0 battery, has a volume utilisation efficiency of 72 percent and an energy density of up to 255 Wh/kg for ternary battery systems, giving it the highest integration level in the world, according to CATL.

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