Top 3 business stories on Sept 19: Future Group's potential acquisition of Heritage Foods's retail business and more

19 September 2016, 04:13 PM
Future Group - File Photo
Future Group - File Photo


1. Future Group likely to acquire Heritage Foods's retail business

As per reports in the leading financial dailies, the retail business of Heritage Foods could be acquired by Kishore Biyani founded Future Group as the talks for the acquisition have reached an advanced stage.

The deal would give Future group an access of more than 100 grocery outlets in Hyderabad, Chennai and Bengaluru, according to sources aware of the developments in the deal.

Also Read: Future Group likely to acquire Heritage Foods's retail business

2. Chinese e-commerce multi giant Alibaba boosts its business to business market by stringing multiple partnerships

With the recent talks about Alibaba's venturing into the consumer-facing e-commerce space in India, the Chinese e-commerce multi giant has gone ahead by stringing multiple partnerships to boost its existing business-to-business marketplace venture in India.

As per reports in leading financial dailies, the Jack Ma led Alibaba is partnering with DHL and Delhivery for providing domestic and international logistics support to Indian sellers, along with offering financial aid through its tie-ups with Aditya Birla Group's NBFC arm, IDFC Bank and Kotak Mahindra Bank.

Also Read: Chinese e-commerce multi giant Alibaba boosts its business to business market by stringing multiple partnerships

3. Stock markets record minor gains, metal stocks shine

The Sensex and Nifty recorded gains at the back of the strong performances in the Asian markets driven by boost in oil prices. The investors eagerly await the results of the monetary policies of key central bank meetings in the United States and Japan scheduled later in the week.

The BSE Sensex ended with a gain of 36 points at 28,635. The BSE Sensex opened at 28,627 touched an intra-day high of 28,715 and low of 28,553. The NSE Nifty closed with a gain of 29 points at 8,808. The NSE Nifty opened at 8,788.45 hitting a high of 8,824 and low of 8,774.20.

Also Read: Stock markets record minor gains, metal stocks shine

First Published: Monday, September 19, 2016 03:57 PM
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