Indian shares ended lower on Thursday as some investors locked in profits after major indexes hit record highs, with the benchmark Sensex surpassing the 50,000 level for the first time.
Indian shares rose to a record high on Thursday, with the benchmark Sensex scaling the 50,000 level for the first time, on hopes of an economic recovery and positive cues from the new Biden administration.
By Reuters Staff
2 Min Read
BENGALURU (Reuters) - Shares in Future Group companies jumped 5% on Thursday after Indian stock exchanges approved the group’s $3.4 billion deal to sell its retail assets to Mukesh Ambani-led conglomerate Reliance Industries.
FILE PHOTO: People exit the Big Bazaar retail store in Mumbai, India, November 25, 2020. REUTERS/Niharika Kulkarni/File photo
The approval takes Future, which operates supermarkets like Big Bazaar and high-end food stores such as Foodhall in India, a step closer towards sealing a deal that will create India’s groceries market leader.
The deal had soured ties with Future’s business partner Amazon.com Inc, which alleged the transaction breached agreements with Future made in 2019. Amazon raised legal and regulatory challenges to the deal.
India has signed a purchase order with vaccine producer Serum Institute to procure AstraZeneca's COVID-19 vaccine, a source said on Monday, the first step in one of the world's largest vaccination programmes against the novel coronavirus.