Mukesh Ambani-led Reliance Industries plans to raise ₹25,000 crore in debentures to fund Jio's expansion and replace existing high-cost borrowings. The company, in a notice, said that its annual general meeting will be held on July 21 to consider the fundraising and to seek shareholders' approval. Notably, Reliance has invested nearly ₹2 lakh crore in Jio till now.
Carbonated soft drink company Coca-Cola has reportedly announced that it would increase the prices of its aerated beverages after GST rollout. According to reports, the company, on Tuesday, also added that the prices of bottled water would go down in the GST regime. Notably, the company has also decided to launch an affordable range of aerated beverages.
South Korean multinational company Samsung is reportedly all set to launch its refurbished Galaxy Note 7 smartphone on July 7. According to reports, the smartphone is said to have a smaller battery compared to Note 7, which was discontinued last year due to explosion issue. Notably, the refurbished Galaxy Note 7 is expected to be priced at Rs 39,600.
Former Indian cricketer Ravi Shastri has reportedly confirmed that he would apply for the position of team’s head coach. According to reports, Shastri, who also served as India’s team director, rejected the claims that he would join only if he is given a guarantee for the job. Notably, BCCI had earlier extended the application deadline for the job until July 9.
Chinese smartphone maker Xiaomi has reportedly claimed that it had sold more than 10 lakh units of Redmi 4 smartphones in 30 days. The company’s Vice President and Managing Director Manu Kumar Jain, through his Twitter handle, made this announcement on Tuesday. Notably, Redmi 4, which is currently sold on Amazon India, starts at Rs 6,999 and goes on up to Rs 10,999.
According to reports, budget carrier SpiceJet's stock has surged 127% this year, making it the world’s best-performing airline stock. The stock has gained over 800% since SpiceJet was forced to ground its entire fleet over inability to pay $2.2 million in fuel bills in 2014. The rise has been attributed to Co-founder Ajay Singh injecting capital and cutting loss-making routes.
South Korean electronic giant Samsung is expected to launch its Galaxy Note 8 smartphone on August 26. According to reports, the leaked specifications confirm that the smartphone would feature a 6.3-inch display, Android 7.1.2 Nougat OS, dual-camera setup, Snapdragon 835 SoC, 6GB RAM, 256GB inbuilt storage and a 3600mAh battery.
British telecom major Vodafone has reportedly started offering free Netflix subscription for one year for its postpaid customers. According to reports, the customers who had opted for Vodafone RED plans worth Rs 1,299 or higher can avail this offer. Notably, the customers need to visit Vodafone’s official website on SMS ‘Netflix’ to 199 to activate the plan.
Finnish mobile phone maker HMD Global's Nokia 3 smartphone has reportedly been listed on Chroma website for sale at a price of Rs 9,499. According to reports, the original price of Nokia 3 is mentioned as Rs 10,299 on the website. Notably, the smartphone sports a 5-inch display, 1.3Ghz quad-core MediaTek processor, 2GB RAM, 16GB inbuilt storage, 8MP rear and 8MP front cameras and a 2,650mAh battery.
Chinese electronics company Huawei is reportedly set to launch its Honor 8 Pro smartphone in India on July 6. According to reports, the high-end smartphone a 5.7-inch display, an octa-core processor, 6GB RAM, 64GB inbuilt storage, 12MP dual rear cameras and 8MP front camera and a 4,000mAh battery. Notably, Honor 8 Pro is expected to be priced around Rs 38,000.
According to reports, a total number of 25 cases have been booked by the Cyberabad police in the first five months of this year. Notably, only 17 cases were filed in 2016. S Jayaram additional commissioner of police said, "Due to layoffs and lack of job security, an increasing number of youth are signing up with online job portals”.
India’s largest business conglomerate Tata Group is reportedly planning to buy online grocery market GrocerMax. According to reports, Tata will be buying out the management team and technology infrastructure of a Gurgaon-based online grocer. Notably, Amazon is also in talks with BigBasket to enter online grocery space.
According to reports, Google CEO Sundar Pichai on Sunday met Prime Minister Narendra Modi. Pichai after meeting Modi reportedly said, "I think there were many good ideas discussed and I think everyone is excited to invest more in India." On GST rollout in India, Pichai said, "I know it has been a very difficult thing to do so I’m excited to see it happen."
E-commerce portal Snapdeal on Sunday reportedly filed a complaint against executives of logistics company GoJavas. Notably, Snapdeal owned a minority stake in GoJavas. The complaint has been filed after a forensic report has revealed that GoJavas authorities indulged in 'poor corporate governance'.
Indian retailers have reportedly informed Finnish mobile phone maker HMD Global that they would accept fresh stocks of Nokia phones only after GST rollout in the first week of July. According to reports, HMD is set to start the pre-orders of Nokia 5 and Nokia 6 smartphones on July 7 and July 14 respectively and the retailers’ move is expected to create a shortage of devices.
According to a report by the PTI, the basic remuneration of SBI chief Arundhati Bhattacharya was only Rs 28.9 lakh for the year 2016-17. However, her counterparts in private banks received a staggering basic salary when compared to Arundhati. While ICICI CEO Chanda Kochhar received Rs 2.66 crore, Axis Bank’s chief Shikha Sharma received Rs 2.7 crore as basic pay. Meanwhile, HDFC’s Managing Director Aditya Puri’s basic salary stood at a massive Rs 10 crore.
On the completion of Infosys Annual General Meeting (AGM) on Saturday, R Seshasayee, the Chairman of Infosys, announced his retirement. According to reports, R Seshasayee said: “Finally, as this will be my last AGM, before I retire upon reaching the age of 70 in May 2018... During the remaining part of my tenure, I would be committed to further enhancing governance standards, improving shareholder value.” He also reportedly said he plans a smooth transition to his successor.
Bengaluru-based IT major, Infosys on Saturday conducted its 36th annual general meeting. Following the meet, Infosys released a statement announcing that more than 11,000 jobs have been released due to the use of automation. According to reports, the revenue per full-time employee (FTE) for Infosys has increased by 1.2 percent as a result of automation, utilisation and productivity improvements. The statement further said, "It is a clear demonstration of how software is going to play a crucial role in our business model."
India’s top telco Bharti Airtel has reportedly announced a fresh offer, named ‘monsoon surprise’ for its customers. According to reports, the company has extended its ‘holiday surprise’ offer and will continue to provide 30GB free data for another three months. Notably, Airtel users can claim the offer on ‘My Airtel’ app after July 1.
Arnab Goswami responding to a report claiming Times Now has caught up with Republic TV alleged that Times is using methods which are manipulating the system. According to Goswami, Times Now has increased viewership by employing a “forced reach” method. He claimed that Times Now is tying up with cable networks to be the “landing page” on the network.