Which company’s CEO on 13 May 2015 in a surprise move decided to allot all his personal holding in the company worth Rs 150-200 crore to their 2,251 employees?: Housing.com
Explanation: Housing (dot) com Chief Executive Rahul Yadav on 13 May 2015 in a surprise move decided to allot all his personal holding in the company worth Rs 150-200 crore to the employees. The value of this stock is worth the employees' one-year salary. Housing.Com, which is backed by Japan's Softbank, said its board has been reconstituted to include all main shareholder representatives. Last December, it received USD 90 million funding, led by Japan's SoftBank, valuing the portal at about Rs 1,500 crore. The funds were used to map over 40 million houses across 300 cities. Housing (dot) com was started by 12 IIT-Bombay graduates, Housing is a map-based real estate portal which helps people rent, sell and buy houses.
Which major fashion Indian E-commerce Company announced that 15 May 2015 will be the last day for the website and post that it only operates through Mobile app. Thus become the 1st Ecommerce company in the world to do so?: Myntra
Explanation: The decision to go only Mobile App as 90% of its traffic and 70% of sales coming from the mobile platform i.e has over 9 million users of its app with as many as 4 million customers having made purchases through it. Thus the Bengaluru-based online retailer said it will be able to service its consumers better by becoming app-only company. However, Flipkart will move in the same direction but may take upto 6-8 months as per the founder. E-commerce major Flipkart had acquired Myntra last year for $330 million. Myntra and Flipkart together command a market share of over 50% in the online fashion space while Myntra plans to hit the $1 billion mark in revenue by the year 2016.
India's domestic retail sector moved further towards the consolidation as the Aditya Birla Group on 12 May 2015 agreed to acquire the hypermarket business of Jubilant Industries, which operates under which brand name, in a slump sale all-cash deal?: Total Superstore brand
Explanation: The transaction marks the third consolidation announcement in the retail sector within a fortnight and second from the Aditya Birla Group. As earlier this month, Aditya Birla Group merged its apparel businesses to form a $2-billion entity — Aditya Birla Fashion and Retail and day after Aditya Birla's merger announcement, Kishore Biyani-led Future Group said it will take control of Bharti Retail in a multi-tier all-stock deal worth Rs 750 crore to create a Rs 15,000-crore behemoth. The acquisition is expected to be about Rs 100 crore and thus this had led to a 10 % jump in shares of Jubilant to Rs 163.9
In his maiden visit to West Bengal as Prime Minister, Narendra Modi on 10 May 2015 dedicated the Rs 16,000-crore revamped and modernised Plant at Burnpur to the nation. What is the name of the Plant?: IISCO Steel plant
Explanation: IISCO Steel plant was taken over by the government in 1972, thus became a fully-owned subsidiary of SAIL in 1978. The brand new state-of-the-art IISCO Steel Plant at Burnpur is the fifth integrated steel plant of Steel Authority of India, which is "all set to achieve new milestones" in tune with the National Steel Policy. The annual hot metal capacity of the plant has been ramped up to 2.9 million tonnes, from the earlier 0.85 million tonne. The revamped plant has already achieved some major milestones, both in production and quality, since 2014. It has started operating the continuous casting plant, and the first batch of 8-mm thermo-mechanical treatment (TMT) bars was produced in January 2015. As per SAIL, the company's reserves of iron ore are the largest in Asia.
Fashion and lifestyle E-commerce platform, Myntra on 7 May 2015 notified that it has acquired city-based mobile app development platform company. What is the name of the company?: Native5
Explanation: Native5 led by Kunal Abhishek, Barada Sahu, Shamik Dattaand and Manish Priyadarshi was founded in 2012 and builds tools and services to enable cross platform app development on the cloud. Thus, the acquisition will strengthen and expand Myntra's mobile technology team, which is focused on driving transformational change in the online shopping space, the company. The entire team (barring Manish Priyadarshi) will join Myntra and work towards creating innovative mobile experiences. Native5 is Myntra's second technology led acquisition. In April 2013, Myntra acquired Fitiquette, a San Francisco based technology solution which is a one of a kind virtual fitting room.
What is the name of the India's biggest law firm which has been amicably split between warring brothers by a panel of arbiters appointed by the court in November 2014 on 7 May 2015?: Amarchand Mangaldas & Suresh Shroff and Company
Explanation: The split of the law firm has happened when Shardul Shroff, who used to manage the Delhi affairs of the family-run law firm, had moved the High Court against his younger brother Cyril Shroff, who is based in the nation's financial capital Mumbai, over the implementation of their mother, the late Bharati Shroff's will. Bharati Shroff, who used to be the largest shareholder in the law firm holding 22.5 percent shares, had originally willed her entire equity to Shardul Shroff. Thus, in order to preserve the fair name and reputation of the family unblemished, and in order to foster peace in the family, Cyril Shroff has agreed not to contest the will and Shardul Shroff has agreed not to press with his suit. Therefore, Bombay High Court has accepted the family settlement and the arbitral award, and also granted probate to the will of late Bharatiben Shroff and disposed of the suit between the brothers by its order pursuant to the family settlement and arbitral award.
Anti-trust watchdog CCI on 7 April 2015 has approved Reliance Infrastructure's proposed acquisition of controlling stake in which Defence and Offshore Engineering company in a Rs 2,000-crore deal?: Pipavav Defence and Offshore Engineering
Explanation: The approval has come as proposed combination is not likely to have an appreciable adverse effect on competition in India. Pipavav Defence is mainly into manufacturing of commercial ships and repair of oil rigs while Reliance Defence Systems Pvt Ltd -- part of Anil Ambani group firm Reliance Infrastructure (Rel Infra) -- is yet to start its commercial operations and also none of the group companies of Reliance Infrastructure are active in the sectors wherein Pipavav is active. Reliance Defence would purchase nearly 18 per cent stake from promoter group led by Nikhil Gandhi at Rs 63 per share, amounting to Rs 819 crore, and subsequently make an open offer for an additional 26 per cent at Rs 66 apiece, aggregating Rs 1,263.3 crore.
Eleven Indian companies figure in Forbes Global 2000 list (Forbes magazine`s annual list) of the world`s biggest companies, with China landing five of the top 10 spots for the second year in a row. Which Indian company top the list from India with what rank?: State Bank of India (152 Rank)
Explanation: The criteria for the ranking in the Forbes Global 2000 list included sales, profits, assets and market value. Thus, State Bank of India (world ranking 152) tops the Indian companies in the 13th Annual Global 2000 list with assets worth $400.6 billion, followed by Indian Oil (349) in the second and Coal India (490) in the third place.
Other Indian companies on the list are Power Grid Corporation of India Limited (980), Bank of India (982), GAIL (India) Limited (1,018), Steel Authority of India Limited (1,383), Union Bank of India (1,432), Central Bank of India (1,663), Indian Overseas Bank (1,711) and Indian Bank (1,894). The top five country-wise breakdown: US 579, China (mainland and Hong Kong) 232, Japan 218, Britain 94 and South Korea 66.
Global skin care brand NIVEA on 5 May 2015 opened its first manufacturing plant in India at which state along with an integrated regional development lab?: Sanand GIDC area in Gujarat
Explanation: NIVEA India, a subsidiary of NIVEA, was founded in 2005. The Gujarat Industrial Development Corporation had alloted 72,000 sq meters of land at Sanand Gujarat to set up manufacturing unit as well as R&D centre of NIVEA in India. This manufacturing site, is first in India and was set up at the cost of Rs 850 crore. This plant is having the annual capacity of production of around 100 millions unit of the companies products including NIVEA Creme and lotions.
In a bid to consolidate in the Indian supermarket business, Kishore Biyani-led Future group will take control on which retail chain in a multi-tier all stock deal worth Rs 750-crore to create a Rs 15,000-crore behemoth?: Bharti Retail
Explanation: In last 2 days this is second major consolidation happened when Future Group will take control on Bharti retail operation and later will merge retail infrastructure business thus creating the combined retail entity with turnover of Rs 15,000 crore. Bharti Retail will get about 15 percent stake in both the merged entities as well as Rs 500 crore worth stocks, representing 9-10 percent equity in both the companies and Rs 250 crore in the form of optionally convertible debentures while Future Group promoters will hold 46-47 percent stake each in the two new entities and the rest will be held by public shareholders. Both the entities will be listed on the stock exchanges. Earlier in 2013, Bharti and global giant Wal-Mart had terminated their partnership, including a franchise agreement in retail business, pursuant to which the US-based retailer acquired full control of their wholesale cash and carry business joint venture.
