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Biz EOD: NCLT trouble for Flipkart, Sensex at all-time high, Kia Seltos beats Hyundai Creta

BusinessToday.In     November 6, 2019

The Bengaluru bench of NCLT sent Flipkart for insolvency proceedings; the e-commerce company managed get a stay on the order, though. Sensex rallied to yet another all-time high of 40,606.91. Newcomer Kia Seltos beats marker favourite Hyundai Creta in terms of monthly sales figures. Read for more top stories from the world of business and economy:

1. NCLT orders Flipkart insolvency for Rs 27 crore default; company gets stay

CloudWalker, which imported and retailed LED TVs on Flipkart's platform, dragged  the company to the NCLT for non-payment towards procured imported TVs as per the supply agreement.

2. Sensex hits all-time high of 40,606, Nifty scales 12,000

While Sensex breached earlier record high level to hit a fresh all-time high of 40,606.91 mark on Wednesday, Nifty made an intraday high to 12,002.90 level, trading 0.80% or 100 points away from the 52-week high of 12,103.05.

3. Tata Steel Q2 profit rises 6% to Rs 3,302 crore on tax gain, revenue down 15%

Consolidated revenue fell 15.44 per cent to Rs 34,579.18 crore in July-September quarter of the current fiscal as against Rs 40,897 crore in the year-ago period.

4. Adani Group needs more time to acquire stake in Mumbai Airport

Senior counsel for Adani Properties told the Bombay High Court that the company is ready to put the full amount in a no-lien bank account if the transaction deadline is deferred to February 7 from November 7.

5. Kia Seltos achieves in 3 months what Hyundai Creta couldn't in 4 years

Kia Seltos has outsold Hyundai Creta in each of the last three months since its launch in August; Kia's heavily competitive price and impressive features propelled it to the 5th spot in the list of top-selling automakers in India.

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