In the next 2-3 years, about 80-90 per cent of footwear major Bata India’s new store additions will be through the franchise route.

There is a huge headroom and opportunity. We see almost 80-90 per cent of our new store additions in the next 2-3 years coming from franchise, said Gunjan Shah, managing director and chief executive officer Bata India, Friday evening, during a fireside chat at the Kolkata Retail Summit (KRS) 2021 organised by The Retailers Association of India (RAI).

After announcing its plans to enter Gurugram, Sweden-based Ingka Group's home furnishings brand Ikea plans to have stores in Delhi as well as Noida.

The company will enter the NCR market via Ingka Centre which will come up in Gurugram.

The centre is a mixed use retail destination which will be anchored by a large format Ikea store and is expected to come up within 3-4 years.

The price of 10 gram of gold decreased by Rs 130 on Saturday, with the yellow metal (24-carat) trading at Rs 47,450 and 22-carat at Rs 46,450.

The price of 1 kg of silver increased by Rs 500 with the precious metal trading at Rs 61,200 on Saturday.

In Delhi, the rate of 24-carat gold stands at Rs 50,840, while in Mumbai the yellow metal's price is at Rs 47,450, according to the Goodreturns website.

Maharashtra State Transport Minister Anil Parab on Friday said that the state government is seriously considering taking action under the Maharashtra Essential Services Maintenance Act, in view of the strike called by the employees of the Maharashtra State Road Transport Corporation.

Speaking to reporters on Friday, Parab said, "There are people who are preventing State Transportation employees from returning to work.

The global coronavirus (Covid-19) caseload has topped 264.89 million, while the deaths have surged to more than 5.24 million and vaccination to over 8.11 billion, according to Johns Hopkins University.

In its latest update on Saturday morning, the University's Center for Systems Science and Engineering (CSSE) revealed that the current global caseload and death toll stood at 264,892,562 and 5,242,384 respectively.

The Cyclone Jawad is likely to reach north Andhra Pradesh and south Odisha on Saturday morning and Puri is likely to witness heavy rains on Sunday, said India Meteorological Department (IMD).

According to the Met department, Cyclone Jawad lay centered at 5:30 pm of Friday over westcentral Bay of Bengal, about 300 km south-SE of Vishakhapatnam, 420 km nearly south of Gopalpur, 480 km south-SW of Puri & 560 km south-southwest of Paradip.

Just a day after Star Health and Allied Insurance failed to garner an adequate number of bids, Tega Industries’ initial public offering (IPO) ended with demand for shares exceeding those on offer by a whopping 219 times, indicating that the appetite for initial offers was intact.

Tega Industries received bids for 2.09 billion shares, as against the 9.6-million on offer, with those bids cumulatively worth nearly Rs 95,000 crore.

Shares of Vodafone Idea (VIL) hit a fresh 52-week high of Rs 14.34 after they rallied 12 per cent on the BSE in Friday’s intra-day trade. The stock has surged 32 per cent so far this week. Besides, the stock of the telecom services provider has crossed its 52-week high level of Rs 13.80, touched on January 15, 2021, and has hit the highest level since June 2019.

Till 03:02 pm; a combined 874 million shares changed hands on the NSE and BSE. The stock trades in the futures & option (F&O) segment, which has no circuit limits. In comparison, the S&P BSE Sensex was down 1.3 per cent or 744 points at 57,717.

The Supreme Court Friday refused to entertain the bail plea filed on health grounds by jailed businessman Rakesh Wadhawan, accused of money laundering in the multi-crore rupees Punjab and Maharashtra Co-operative (PMC) Bank fraud case, saying that he has been in hospital more than the jail.

A bench comprising Chief Justice N V Ramana and Justices Surya Kant and Hima Kohli permitted senior advocate Mukul Rohatgi, appearing for Wadhawan, to withdraw the bail plea to approach the high court.

In a bid to strengthen its footprint in the renewable space, particularly solar energy, state-owned Oil and Natural Gas Corporation (ONGC) on Thursday signed an agreement with Solar Energy Corporation of India (SECI) to scale up its clean energy projects.

The Memorandum of Understanding (MoU) was signed by ONGC Chairman and Managing Director Subhash Kumar and SECI Managing Director Suman Sharma, a company statement said.

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