Top 10 biz headlines: Flipkart challenges CCI order, cement demand uptick

Service providers feel the pain as India Inc faces working capital squeeze

The country’s largest corporations are hitting the brakes on payments to be made to service providers such as consulting and law firms amid a liquidity crunch, say senior executives in India Inc. Read more

Changes in CCI norms proposed to bring buyer cartels under competition law

Buyers forming a cartel may be penalised if the changes proposed by the Ministry of Corporate Affairs (MCA) to the Competition Act are enacted. The ministry sought to give monetary and penal powers to the director general for investigation under the Competition Commission of India (CCI). Read more

Govt approves merger of Indus Towers with Bharti Infratel: Report

The Department of Telecom (DoT) on Friday approved the merger of the country's largest mobile tower company Indus Towers with Bharti Infratel, according to official sources. Read more

Now, Flipkart challenges India anti-trust probe after Amazon gets stay

E-commerce firm Flipkart has filed a writ petition in the Karnataka High Court challenging the Competition Commission of India’s (CCI’s) order on probing some of its business practices. The move comes just a week after Amazon secured an interim stay on the probe from the high court. Read more

Going cheap: How ONGC compares to the world's most richly valued oil firms

State-owned Oil and Natural Gas Corporation (ONGC) is now the cheapest oil and gas company globally. Earlier this week, the company’s stock price fell below Rs 100 for the first time in 15 years. Currently, ONGC trades at 4.2 times its estimated one-year forward earnings. Most global oil and gas majors command a price-to-earnings (P/E) ratio of more than 15. Exxon Mobil and Saudi Arabian Oil Company (Saudi Aramco) have a P/E of 18.3 times and 17.3 times, respectively. While ONGC has always traded at a discount to its global peers, it has widened to record levels in recent months. Read more

Reliance rejig of media business makes Sony merger less likely, say experts

Reliance Industries' move to consolidate its media and distribution businesses under one entity Network18 Media & Investments will create a cleaner structure and make the merger of entertainment channels with Sony less likely, experts said.

Australia retailers flying to India for online business despite headwinds

Australian retail companies are readying to enter the Indian market through the online route at a time when international investors are facing problems owing to government’s changing policy on e-commerce. Read more

Big e-commerce meets small business: A balancing act for Amazon, Flipkart

International retail chains have historically considered micro, small and medium enterprises (MSMEs) a roadblock for their India investments. That backdrop can hardly be wished away at a time when marquee global e-commerce companies are caught in a tumultuous relationship with small businesses and the government is clearly backing the underdog Read more

Ashok Leyland builds a platform to let buyers configure vehicles

Commercial vehicle major Ashok Leyland has invested Rs 500 crore to build a platform that allows customers to configure vehicles based on their financial and business needs. Read more

Cement companies rush to eastern India to seize upon demand uptick

A faster demand uptick – particularly in the home builder and infrastructure segments – has made cement companies line up extensive greenfield and brownfield projects in eastern India. In the recent past, demand remained muted in north, central and western India at 3-5 per cent and volume growth declined by around five per cent in south India. Read more

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