BS Reporter
BS Reporter
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Online grocer Bigbasket eyes $1 bn revenue by 2018
Enters Gujarat market and to be present in 28 cities by Feb 2016
IDG Ventures Sudhir Sethi, Pepsico's Praveen Someswar invest in Stay Simple resorts
Stay Simple currently owns, manages and operates about 500 rooms in16 resorts in 12 popular tourist destinations across India
 "IDG Ventures Sudhir Sethi, Pepsico's Praveen Someswar invest in Stay Simple resorts")
347 lives lost due to heavy rains in Tamil Nadu
Over 17.64 lakh people are accommodated in the relief centres
 "347 lives lost due to heavy rains in Tamil Nadu")
Delhi-based digital analytics startup PropheSee raises Rs 3.3 cr
In the next six months company plans to take the platform live globally
Johnson Electric to expand Chennai facility
Company to invest $200 mn in three countries including India
 "Johnson Electric to expand Chennai facility")
Aye Finance raises Rs 20 crore from Accion and SAIF Partners
Investors include Accion and SAIF Partners; funds to help provide MSMEs with expanded access to financing
 "Aye Finance raises Rs 20 crore from Accion and SAIF Partners")
Delhi-based digital analytics startup PropheSee raises Rs 3.3 cr
PropheSee is a SaaS platform that allows managers to compare and analyse digital campaigns, and execute directly from the platform itself
 "Delhi-based digital analytics startup PropheSee raises Rs 3.3 cr")
Havells sells Sylvania stake for Rs 1,340 crore
Havells plans to complete the sale of 80% stake in both units by next February
 "Havells sells Sylvania stake for Rs 1,340 crore")
India fourth-largest source of black money: Report
China, Russia and Mexico have maintained the top three spots
 "India fourth-largest source of black money: Report")
 "Dow-DuPont merger to create Rs 11,600-crore chemical giant in India")
RBI decides to intervene in rupee futures market
One of the few central banks to make this an exchange rate management tool
 "RBI decides to intervene in rupee futures market")
Trai floats paper to look into differential pricing in data services
This comes amid debate on net neutrality and zero rating plans and is in addition to earlier paper on net neutrality, on which it is yet to give recommendations
 "Trai floats paper to look into differential pricing in data services")
CAG pulls up ONGC for poor rig management practices
Oil explorer lost Rs 8,000 cr due to inefficiencies, says the auditor
 "CAG pulls up ONGC for poor rig management practices")
Indirect tax collections up 34% during Apr-Nov
Indirect tax collection in November rises 24% to Rs 55,297 cr
 "Indirect tax collections up 34% during Apr-Nov")
 "2023 deadline for BS VI unrealistic, says Siam")
Irdai tweaks norms for insurance marketing firms
Insurance marketing firms can procure policies of two life, non-life, health insurers each
 "Irdai tweaks norms for insurance marketing firms")
Tiger Global, Yuri Milner join Flipkart and Accel to invest $25 mn in BlackBuck
The logistics startup will invest on building products for truck owners for them to be able to manage operations
 "Tiger Global, Yuri Milner join Flipkart and Accel to invest $25 mn in BlackBuck")
House prices down 15-20% in 18 months, say developers
About 25-30% of total units launched are unsold across country
 "House prices down 15-20% in 18 months, say developers")