Market Today

1. IT firms mull M&As amid chaos

The economic chaos caused by the covid-19 pandemic maybe the right time for IT companies to consider mergers and acquisitions (M&As), the management commentary emerging from India’s top IT companies, such as TCS and Infosys, reveals.

2. NTPC launches hydrogen fuel bus and car project for Leh and New Delhi

The initiative, which has been undertaken with the support of Ministry of New and Renewable Energy, will also harness renewable energy for the generation of hydrogen and develop it’s storage and dispensation facilities as part of pilot projects at Leh and Delhi.

3. Reliance starts WhatApp-based online portal amid Covid-19 lockdown

JioMart, an e-commerce venture of Reliance Retail, went live in three neighbourhoods surrounding Mumbai, leveraging a deal that gives it access to WhatsApps 400 million users in India currently under the worlds most expansive lockdown.
Facebook hopes a partnership with JioMart will help make WhatsApp the primary way small businesses connect with customers.

4. HDFC acquires 6.43% stake in Reliance Capital

Mortgage lender HDFC on Saturday said it has acquired 6.43 per cent stake in debt-trapped Reliance Capital by invoking pledged shares.

5. Amazon and Flipkart urge govt to allow sale of non-essential goods too

With the government allowing the opening of standalone retail shops in a bid to ease lockdown restrictions, Amazon and Flipkart on Saturday urged the authorities to also let them sell non-essential items so that millions of consumers at home can be benefitted.