Zomato aims to deliver alcohol amid coronavirus lockdown
Indian food delivery company Zomato aims to branch out into delivering alcohol, according to a document seen by Reuters, as it seeks to cash in on high demand for booze during the country's coronavirus lockdown. Zomato has already diversified into grocery deliveries as the restrictions on movement shuttered some restaurants and people hesitated to order outside food due to fears of catching the disease. There is currently no legal provision for home deliveries of alcohol in India, something that industry body International Spirits and Wines Association of India (ISWAI) is lobbying to change in conjunction with Zomato and others.
Coronavirus turns tables; shortage forces China to import Indian steel
The spread of coronavirus and lockdowns around the world have reversed some of the trends as Indian steelmakers started shipping steel to the world's largest steel making country - China. JSW Steel and Jindal Steel and Power have sent their shipments to China as most of the steel mills there are yet to start production after the virus pandemic.
Govt plans stake sale worth Rs 22,000 crore in ITC, Axis Bank: report
The central government is reportedly looking to raise around to Rs 22,000 crore by selling its entire stake in FMCG major ITC and private sector lender Axis Bank. Reacting to the news, shares of ITC and Axis Bank declined as much as 7.64 per cent and 5.42 per cent, respectively, during intraday trade on the Bombay Stock Exchange on Wednesday.
YES Bank case: ED chargesheets Rana Kapoor, family in Rs 5,050 crore fraud case
Enforcement Directorate (ED) has filed a charge sheet against Rana Kapoor in connection with the YES Bank fraud case. The charge sheet filed at the PMLA Court in Mumbai includes names of the YES Bank co-founder, his wife Bindu Kapoor, his daughters Roshni Kapoor, Radha Kapoor and Rakhee Kapoor, along with Morgan Credits, Yes Capital and Rab Enterprises. Kapoor, former MD and CEO of YES Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He has been accused of receiving kickbacks in lieu of sanctioning loans to certain firms.
As Europe and the US loosen their lockdowns against the coronavirus, health experts are expressing growing dread over what they say is an all-but-certain second wave of deaths and infections that could force governments to clamp back down. "We are risking a backslide that will be intolerable," said Dr Ian Lipkin of Columbia University's Center for Infection and Immunity.
Ratan Tata buys 50% stake in Mumbai teenager's pharmacy chain
Tata Group patriarch Ratan Tata has picked up 50 per cent stake in 'Generic Aadhar', a unique pharmacy retail chain promoted by 18-year old Arjun Deshpande from Mumbai. Unlike other online pharmacies, Generic Aadhar sells medicines at much cheaper rates than the market price.
Deshpande confirmed the development but refused to disclose the amount of the deal. He said the business tycoon had keenly listened to his proposal 3-4 months ago. Tata was interested to partner and mentor him in running the business.
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