Sameer Narang News
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Hindustan Unilever Ltd., the Indian unit of the world’s second-largest consumer goods company, surged to a record after profit rose 21 percent, exceeding analysts’ estimates.
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Amazon.com Inc., the world’s largest Internet retailer, started an online shopping service in India to profit from the world’s second most populous nation as it waits for the country’s retail regulations to loosen.
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India abandoned a rule against foreign single-brand retailers operating stores without a local partner, paving the way for global companies including Starbucks Corp. and Ikea.
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Wal-Mart Stores Inc. and Carrefour SA may gain access to the retail market of the world’s second most-populous country after an Indian government panel was said to have recommended easing restrictions on the industry.
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Pantaloon Retail India Ltd. climbed to its highest in four weeks, leading a surge in shares of Indian vendors after the government yesterday formally removed the limit on foreign investment in single-brand retail.
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Pantaloon Retail Ltd. led Indian retailers higher in Mumbai trading after a government panel was said to have recommended easing rules that bar overseas companies from the country’s retail industry.
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