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Jan 15, 2015

India’s TCS expects strong deal momentum to drive growth

MUMBAI, Jan 15 (Reuters) – Tata Consultancy Services (TCS)
Ltd, India’s biggest software services exporter, posted
a 5.1 percent rise in quarterly net profit, and said it expected
strong outsourcing deals momentum to boost growth in the
quarters ahead.

The company, part of India’s diversified Tata Group, listed
a move to newer technologies and its presence across emerging
economies, aside from its core geographies of the United States
and Europe, as key drivers of growth in the future.

Jan 13, 2015

India’s Zomato in talks to raise $100 million after U.S. acquisition

By Nivedita Bhattacharjee

(Reuters) – Indian restaurant search services provider Zomato acquired U.S.-based rival Urbanspoon for about $50 million in one of the biggest overseas deals by an Indian startup and a company executive said it was in talks to raise about $100 million in fresh funding.

India’s rapidly growing Internet- and mobile-based companies have attracted billions of dollars in funding in the last couple of years from foreign investors including Japan’s SoftBank Corp and Temasek Holdings Pvt Ltd [TEM.UL].

Jan 13, 2015

India’s Zomato in talks to raise $100 mln after US acquisition

Jan 13 (Reuters) – Indian restaurant search services
provider Zomato acquired U.S.-based rival Urbanspoon for about
$50 million in one of the biggest overseas deals by an Indian
startup and a company executive said it was in talks to raise
about $100 million in fresh funding.

India’s rapidly growing Internet- and mobile-based companies
have attracted billions of dollars in funding in the last couple
of years from foreign investors including Japan’s SoftBank Corp
and Temasek Holdings Pvt Ltd.

Jan 7, 2015

China’s Xiaomi tests selling phones in stores to pep up India sales

MUMBAI, Jan 7 (Reuters) – Chinese smartphone maker Xiaomi
Inc said it could sell more models in Indian stores
while pursuing its primarily online-only strategy if it succeeds
in selling enough Redmi Note 4G handsets through shops of
carrier Bharti Airtel Ltd.

Xiaomi entered India with online retailer Flipkart.com in
July, selling phones through flash sales whereby availability is
limited to short time frames. The online strategy cuts down on
marketing and distribution costs, allowing Xiaomi to sell
feature-rich phones at low prices.

Jan 5, 2015

NTT DoCoMo files arbitration request to sell $1 bilion Tata Teleservices stake

TOKYO/MUMBAI (Reuters) – NTT DoCoMo Inc on Monday said it has asked a London court to ensure Tata Sons Ltd [TATAS.UL] finds a buyer willing to pay at least $1.1 billion for the Japanese carrier’s stake in a struggling Indian joint venture.

DoCoMo was seeking arbitration after Tata failed to find a buyer for its 26.5 percent stake in Tata Teleservices Ltd, one of India’s smallest mobile networks which has failed to grow its subscriber base at the same rate as its peers.

Nov 26, 2014

Online grocers come up trumps in India’s e-commerce boom

MUMBAI, Nov 27 (Reuters) – Put off by snarled city traffic
and a shortage of parking, more Indians are shopping for
groceries online, helping e-tailers like Bigbasket.com and
Localbanya.com turn in profits while supermarkets are
struggling.

The online grocers benefit from low overheads, as they store
goods in warehouses outside big cities where commercial rents
are sky-high. Some like Bigbasket.com can also charge more for
certain items than traditional supermarkets, which means even
more profits in a country where all food retailers enjoy margins
as high as 20 percent on rice and other staples.

Nov 17, 2014

Retailers hobble online as e-commerce firms race ahead

MUMBAI (Reuters) – The head of Future Group, one of India’s largest and most established retailers, admits he can’t keep up with web sites like Snapdeal and Flipkart when it comes to spending money to entice shoppers to buy online.

Private investors have poured $2.3 billion into India’s e-commerce companies so far this year, according to consulting firm Technopak, giving them financial firepower to overwhelm shoppers with bargains and deals that brick-and-mortar retailers like Future Group, which runs a host of chains including Future Retail Ltd (FURE.NS: Quote, Profile, Research) and Future Lifestyle Fashions (FLFL.NS: Quote, Profile, Research), cannot match.

Nov 17, 2014

Indian retailers hobble online as e-commerce firms race ahead

MUMBAI, Nov 18 (Reuters) – The head of Future Group, one of
India’s largest and most established retailers, admits he can’t
keep up with web sites like Snapdeal and Flipkart when it comes
to spending money to entice shoppers to buy online.

Private investors have poured $2.3 billion into India’s
e-commerce companies so far this year, according to consulting
firm Technopak, giving them financial firepower to overwhelm
shoppers with bargains and deals that brick-and-mortar retailers
like Future Group, which runs a host of chains including Future
Retail Ltd and Future Lifestyle Fashions,
cannot match.

Oct 28, 2014

Snapdeal founder eyes Alibaba playbook with funding deal

MUMBAI, Oct 28 (Reuters) – Kunal Bahl, co-founder of Indian
online marketplace Snapdeal, has come a long way from his days
as a business school student selling detergent in U.S.
supermarkets.

After final negotiations over a sushi breakfast earlier this
month, Snapdeal on Tuesday unveiled a $627 million investment
from Japan’s SoftBank, one of the high-profile early
backers — and now major shareholder — in China’s Alibaba
.

Oct 28, 2014

Japan’s SoftBank kicks off $10 bln India online spree, buys stake in Snapdeal

MUMBAI, Oct 28 (Reuters) – Japanese telecom and media group
SoftBank Corp has set its sights on Indian e-commerce
in its aggressive expansion drive, saying it will invest about
$10 billion in the booming sector as it took a strategic stake
in one of its rising stars.

Masayoshi Son, chief executive of SoftBank, laid out a
10-year investment plan for India on Tuesday, starting with the
purchase of a $627 million stake in fast-growing online
marketplace Snapdeal. Son’s global ambitions flared into public
view last year when SoftBank bought No. 3 U.S. mobile carrier
Sprint Corp for $21.6 billion.

    • About Nivedita

      "Think all things tech and telecoms. Currently in Mumbai. Previously in Chicago, covering retail, transport and airlines. Joined Reuters in 2008."
      Joined Reuters:
      2008
      Languages:
      English, Hindi, Bengali
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