Top headlines: BPCL bidding extended, Flipkart acquires Walmart India

Here are the top headlines of the day

Govt likely to extend deadline for BPCL bidding for third time

The government is likely to extend the deadline for bidding for the privatisation of Bharat Petroleum Corporation (BPCL) for the third time in a row, from the current date of July 31. According to sources, the extension of the timelines for expression of interest (EoI) may well be until international airline services are back in place, as a lot of prospective bidders have expressed concerns regarding the current situation. Read more.

SpiceJet designated as 'Indian scheduled carrier' to operate flights to US

Budget carrier SpiceJet has been designated as the "Indian scheduled carrier," to operate flights to the US. SpiceJet would be the first Indian budget carrier to operate services to the United States. Currently, only the national carrier Air India is operating flights on India-US routes. Read more.

Flipkart acquires Walmart India's wholesale biz to help transform Kiranas

E-commerce company Flipkart has acquired 100 per cent stake in Walmart India Private Limited, which operates the Best Price cash-and-carry business. Flipkart said it would leverage the strong wholesale capabilities of the company and enable growth for kiranas and MSMEs. It also announced the launch of Flipkart Wholesale, a new digital marketplace that will help transform the kirana retail ecosystem in India by leveraging cutting-edge and locally developed technology. Read more.

New York Times names COO Meredith Kopit Levien as its new chief executive

New York Times on Wednesday named Chief Operating Officer Meredith Kopit Levien as its new chief executive, effective September  8. The newspaper publisher said Levien, 49, will succeed Mark Thompson and also join the company's board. In an interview with the Times, Levien said she would continue to focus on and expand the newspaper's subscription model as advertising revenue continues to fall. Read more.

Rossari Biotech makes strong debut; share price jumps 64% over issue price

Shares of Rossari Biotech made a strong debut by listing at Rs 670, a 58 per cent premium against its issue price of Rs 425 per share on the BSE on Thursday. Minutes later, the stock extended its gains and rallied 64 per cent to hit a high of Rs 698 on the exchange. The Rs 496 crore IPO of the specialty chemicals maker, Rossari Biotech, had received massive investor interest with the IPO getting subscribed 79.37 times. Read more.