Billionaire investor Rakesh Jhunjhunwala has trimmed his shareholding in The Mandhana Retail Ventures Limited, selling 98,094 equity shares of the company or 0.44% of his total shareholding in the company. According to the latest shareholding pattern of Mandhana Retail Ventures, available on the BSE website, Rakesh Jhunjhunwala held a 12.74% stake in The Mandhana Retail Ventures at the end of June this year. The stock price of Mandhana Retail Ventures has zoomed 20.83% so far this year. Most of these gains were recorded in the first six months of the year; the stock has moved lower after that.

"This is to inform you that as on September 16, 2021, I was holding 23,78,871 equity shares (10.7726%) of The Mandhana Retail Ventures Limited," Rakesh Jhunjhunwala said in a letter to the company secretary of Mandhana Retail. "From the last disclosure till September 16, 2021, I have reduced the holding by 4,34,403 equity shares, which is 1.96% of the total issued paid-up capital of The Mandhana Retail Ventures Limited," he added. The big bull further added that between September 17 and September 20 this year, he sold another 98,094 equity shares of The Mandhana Retail Ventures.

Amid reports of Amazon probing bribery-related charges against some of its legal representatives in India, the US e-commerce giant on Monday said it takes allegations of improper actions seriously and investigates them fully to take appropriate action.

Without confirming or denying allegations, Amazon said it has "zero tolerance for corruption".

According to an agency report, Amazon has initiated an investigation against some of its legal representatives for allegedly bribing Indian government officials. Its senior corporate counsel has reportedly been sent on leave in this matter.

Private equity firm Advent International will buy a controlling stake of 72.56 percent in Eureka Forbes from Shapoorji Pallonji Group for approximately Rs 4,400 crore, said a joint statement issued by the two entities on September 19.

This transaction will be Advent's fifth consumer buyout in India. The deal is also expected to help Shapoorji Pallonji Group (SPG) in significantly deleveraging its balance sheet.

Pursuant to a scheme of arrangement, Eureka Forbes will be listed on the Bombay Stock Exchange (BSE), and subsequently, "Advent will purchase up to 72.56% of the company’s then outstanding stock on a fully diluted basis from SPG", an official release noted.

The GST Council on Friday reduced the levy on several life-saving medicines, agreed to correct the tax structure for several products - ranging from textiles and footwear to pens - and unanimously concluded that there was no need to include petrol and diesel under this tax regime for now.

The concessional GST rates for four Covid drugs was extended by three months up to December 31, while the tax rate was pared for several items, including biodiesel used to blend diesel, retro-fitment kits for vehicles used by the disabled, and cartons, boxes, bags and packing containers of paper.

Although the issue of GST on fuel - which states have been resisting - was on the agenda, finance minister Nirmala Sitharaman clarified that it was the result of a high court directive which wanted the GST Council to look at the issue.

India’s largest IT company Tata Consultancy Services (TCS) announced that it will call its employees back to the office. The byproduct of the COVID-19 pandemic, work-from-home, is ending  soon and many software and IT companies are calling back their employees to the office. TCS, India’s biggest private employer has earlier mentioned that the company is set to end work from home by the end of this year or early next year. The decision was taken in the wake of dipping Covid-19 case, vaccination going at record pace and a large chunk of TCS employees being inoculated.  Almost after 18 months, ever since our personal and professional lives took a 360 degree turn, life seems to clawing back to normalcy.

In 2020, 96 per cent of TCS staff shifted to remote working and the company is planning to not get the employees back to offices. By 2025, the company made it clear that only 25 per cent of the total employees will work from the office whereas Infosys is going to follow a hybrid work model. The company has already told that for calling employees back to the office the risk assessment model will dive deep into various criteria such as vaccination status, employee’s place of residence, risk in the region and locality, and basic health parameters so that the office remains safe and employees feel confident in coming back to work.