The government has come out with a comprehensive policy for the capital goods industry that envisages three-fold growth for the sector to Rs 7.5 lakh crore, contributing 20% to the manufacturing sector, heavy industries secretary Rajan Katoch said on Wednesday. The National Capital Goods Policy has been drafted by a joint task force of Confederation of Indian Industries and Department of Heavy Industries, Katoch told ET. “If you really want to make in India and you want manufacturing strength, capital goods have to be the key sector. With this road map, we aim to triple the capital goods sector from Rs 2.30 lakh crore to Rs 7.5 lakh crore in the coming decade,” he said.

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Online market place Snapdeal is planning to focus on the North-Eastern States as a part of its growth strategy for this fiscal.
North-East operations generally come under the Eastern region. According to Ashish Chitravanshi, vice-president, Operations, Snapdeal, North-East has emerged as one of the fastest growing regions for the company.

According to the company, nearly 6 per cent of its total orders and 12 per cent of sales in the fashion category (apparels, accessories and so on) come from the region. Electronics too is a major category for the e-tailer. Nearly 80 per cent of payments there are through cash-on-delivery.

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AddressHealth, a primary healthcare network for children, has raised about ?10 crore ($1.5 million) in Series A funding led by Gray Matters Capital. Existing investor Unitus Seed Fund also participated in the round. The company runs school-based neighbourhood clinics and school health programmes in Bengaluru and will use the money to expand the model to other schools in Bengaluru and to other cities.
AddressHealth has reached more than 1 lakh children through on-site services and screening programmes to identify health issues and provide early intervention.

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Online retailers would be banned from stopping a customer in one EU country buying from a website based in another, under a proposal issued on Wednesday to make it easier for consumers to shop across the bloc. The European Commission said its law would stop “geoblocking” where companies limit access to their websites based on user location, often forcing customers to use versions based in their own country, sometimes with higher prices. “In the online world, all too often consumers are blocked from accessing offers in other countries,” the Commission said in a statement.

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Government bonds (G-Secs) ended mixed in thin trade following alternate bouts of buying and selling. While, Interbank call money rates remained steady as demand from borrowing banks match supplies. The 7.59 per cent government security maturing in 2026 rose to Rs 100.8450 as compared to Rs 100.83 previously, while its yield softened to 7.46 per cent from 7.47 per cent. The 7.88 per cent government security maturing in 2030 gained to Rs 101.0350 from Rs 101.0050, while its yield edged- down to 7.75 per cent from 7.76 per cent.
However, the 7.59 percent government security maturing in 2029 fell to Rs 99.32 from Rs 99.33, while its yield held steady to 7.67 per cent.

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Financial technology startup Defmacro Software, which owns and operates online tax returns filing platform ClearTax, has raised $2 million (Rs 13.3 crore) from FF Angel, the angel investing arm of Peter Thiel-led Founders Fund, and Sequoia Capital. The five year-old company will use the proceeds from the round to launch a slew of consumer-focused tax-saving products, including mutual funds and other equity-linked saving schemes. It will also be adding to its leadership team, said Archit Gupta, chief executive of ClearTax.

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Arvind Internet, the ecommerce arm of textile-to-real estate conglomerate Arvind, plans to invest $10 million (about.`67 crore) in its newly launched omni-channel venture NNNow-.com. It expects the digital business to contribute .`600-900 crore to the coffers of the group in the next three years. Kulin S Lalbhai, executive director of Arvind, said that the. `3,000-crore Ahmedabad-based conglomerate is expected to double its revenues in three years, with Arvind Internet accounting for 10-15% of it.

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Commercial real estate offers an investment opportunity worth $43 to $54 billion (Rs 2,88,758 crore to Rs 3,60,948 crore) across the top 8 cities via Real Estate Investment Trust (REIT)-eligible ready stocks. According to a report released on Wednesday by RICS and Cushman & Wakefield titled ?Commercial Real Estate: Steering Growth in Indian Cities?, the highest value is seen in Bengaluru.

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Engineering and infrastructure major Larsen & Toubro?s net profit for the quarter ended March rose to Rs 2,454 crore, up 19 per cent from the Rs 2,070 crore during the corresponding quarter a year before. Exceptional income of Rs 43 crore helped partly. The company beat the Bloomberg estimate of Rs 1,896 crore. The board of directors has recommended a dividend of Rs 18.25 a share. The stock closed four per cent higher on the BSE, at Rs 1,291.30. Earnings before interest, tax, depreciation and amortisation (Ebitda) grew 35 per cent; the Ebitda margin improved from 12.8 per cent a year before to 14.7 per cent in the quarter. The group also won more orders for building roads and power transmission networks.

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