Monday, September 28
The Singapore International Arbitration Centre (SIAC) has ruled in favour of Amazon in its long-standing legal battle with Kishore Biyani-led Future Group, holding that Reliance Retail- Future merger deal breached its pre-existing contract. However, Amazon has managed to get minuscule damages of Rs 23.7 crore against claimed amount of Rs 1436 crore.In a final award issued late Thursday night, the three-member tribunal said the 2020 board resolution by Future Retail Ltd (FRL) approving the sale of its retail, wholesale, and logistics assets to Reliance was in breach of contractual obligations under the Shareholders’ Agreement (SHA) and Share Subscription Agreement (SSA) signed between Amazon and Future Coupons Pvt Ltd (FCPL).While Amazon had sought damages of Rs 1,436 crore, the tribunal
After six weeks of consolidation and trading in a defined range, the markets finally broke out from this formation and ended the week with gains. Over the past five sessions, the markets have largely traded with a positive undercurrent, continuing to edge higher. The trading range was wider than anticipated; the Nifty traded in an 829-point range over the past few days.Volatility took a backseat; the India Vix slumped by 9.40% to 12.39 on a weekly basis. While trending higher throughout the week, the headline index closed with a net weekly gain of 525.40 points (2.09%).The breakout that occurred in the previous week has pushed the support level higher for the Index. Now, the most immediate support level has been dragged higher to the 25100-25150 zone, the one that the markets penetrated to
Markets finally broke out of their five-week-long consolidation phase, supported by improving global sentiment, easing geopolitical tensions, and renewed buying interest from foreign institutional investors (FIIs) in the latter part of the week. The rebound followed a cautious start, with broader participation seen midweek as sentiment turned positive.Indices gained traction as concerns over Iran-Israel tensions began to subside, prompting a recovery in global risk appetite. As a result, benchmark indices closed the week on a strong note, with the Nifty ending at 25,637.80 and the Sensex at 84,058.90—both near their respective weekly highs.With this, Analyst Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research, SBI Securities interacted with ET Markets rega
Warren Buffett has made his largest annual donation to date, giving away $6 billion worth of Berkshire Hathaway stock to a mix of philanthropic organizations, including the Bill & Melinda Gates Foundation and four foundations tied to his family.The donation, disclosed on Friday, was executed through the transfer of approximately 12.36 million Class B shares of Berkshire Hathaway, continuing a long-standing tradition that began nearly two decades ago.The bulk of the shares, over 9.4 million, were directed to the Gates Foundation. Additional allocations included nearly 943,000 shares to the Susan Thompson Buffett Foundation, and 660,000 shares each to three organizations run by his children: the Howard G. Buffett Foundation, the Sherwood Foundation, and the NoVo Foundation. This latest g
