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Reliance Industries Limited (RELIANCE.BO)
- Reuters
Walmart's Flipkart expands grocery sales to more Indian cities
Walmart-owned Flipkart will sell groceries online in more Indian cities, as it seeks to compete better with Amazon and Reliance in an e-commerce market that has grown rapidly during the COVID-19 pandemic. Flipkart has already expanded online grocery sales to more than 50 Indian cities and intends to reach over 70 locations in the next six months, the company said in a statement on Tuesday. "Grocery continues to be one of the fastest-growing categories," said Manish Kumar, senior vice president at Flipkart, adding that the company had seen increased demand for the service from smaller cities in 2020.
- Reuters
Reliance partners with Google, Facebook for digital payment network bid - ET
India's conglomerate Reliance Industries has partnered with Facebook Inc, Google and fintech player Infibeam to set up a national digital payment network, Economic Times newspaper reported on Saturday, citing unnamed sources. Last year, India's central bank invited companies to forge new umbrella entities (NUEs) to create a payments network that would rival the system operated by the National Payments Council of India (NPCI), as it seeks to reduce concentration risks in the space.
- Reuters
Indian shares surge in glitch-ridden session as banks gain
Indian shares closed sharply higher in a glitch-ridden, extended session on Wednesday, led by gains in financial stocks after private-sector lenders were allowed to carry out government transactions. The NSE Nifty 50 index ended 1.86% higher at 14,982.00, while the S&P BSE Sensex rose 2.07% to 50,781.69. The top three boosts to the Nifty 50 were financial and banking stocks, which surged in extended trading, pushing the Nifty private bank index higher by 3.9%.
