Amazon Alleges Future Group for Misleading Regulations

January 13, 2021January 13, 2021

Amazon is likely to file a fresh petition as early as this week in the Delhi High Court in the ongoing legal feud against the Kishore Biyani-led Future Group over the sale of the latter’s retail business to Reliance Retail Ventures Ltd (RRVL), a subsidiary of Mukesh Ambani-controlled Reliance Industries Ltd (RIL).
Later this month arbitration proceedings are set to begin at the Singapore International Arbitration Centre (SIAC) for a final ruling on Future Group’s Rs 24,713-crore deal with RIL. “Amazon will file a new petition following the high court’s observations last month. Some of the issues in the Future dispute were left open-ended and Amazon wants to get them addressed,” a person familiar with the matter told TOI.
Earlier, Future had moved to the court to stop Amazon from “misusing” the Singapore-based single judge arbitration panel interim order and “interfering” in the deal. The Biyani-controlled retail firm had argued before the court that SIAC’s judgment is not legally enforceable in India.
SIAC has constituted a panel to pass its final verdict on the high-profile arbitration case between Amazon and Future Group. Last year, the Singapore-based single judge arbitration panel had passed an interim order in favor of Amazon, restraining Future Group from proceeding on the deal.
In October 2020, the US-based e-commerce giant had filed an arbitration case against financially-troubled Biyani group company for signing an agreement to sell retail, wholesale, logistics, and warehousing units to RIL without Amazon’s approval, which was required as per a contractual agreement signed between Future Group and Amazon in August 2019.

Stocks covered in the news

Reliance Industries Ltd. – View Detailed Analysis

INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (June 03, 2024 – June 07, 2024)

CRON USERMay 31, 2024

May 31, 2024

NIFTY IT closed the previous week on a negative note losing 5.69%.

Technically, NIFTY IT share price will see immediate support at 31,702.25 and immediate resistance would be seen at 33,648.50.

If NIFTY IT share price closes below immediate support of 31,702.25, then sharp breakdown can be seen. NIFTY IT share price will see major support at 31,018.40 for the week.

On the positive side, immediate resistance will be seen at 33,648.50. Closing above 33,648.50, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,910.90 for the week.

Trading range for NIFTY IT share price for this week should be between 29,756.00 on down side and 35,594.75 on up side.

NIFTY IT Previous Week High: 34227.05

NIFTY IT Previous Week Low: 32280.8

NIFTY IT Previous Week Range: 1946.25 Points

NIFTY IT share price support and resistance for the week (June 03, 2024 – June 07, 2024)

Level Type	Value
Resistance 3	35,594.75
Resistance 2	34,910.90
Resistance 1	33,648.50
Support 1	31,702.25
Support 2	31,018.40
Support 3	29,756.00

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 27, 2024 – May 31, 2024)

CRON USERMay 24, 2024

May 24, 2024

NIFTY IT closed the previous week on a negative note losing 2.66%.

Technically, NIFTY IT share price will see immediate support at 33,311.35 and immediate resistance would be seen at 34,217.65.

If NIFTY IT share price closes below immediate support of 33,311.35, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,798.40 for the week.

On the positive side, immediate resistance will be seen at 34,217.65. Closing above 34,217.65, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,611.00 for the week.

Trading range for NIFTY IT share price for this week should be between 32,405.05 on down side and 35,123.95 on up side.

NIFTY IT Previous Week High: 34098.05

NIFTY IT Previous Week Low: 33191.75

NIFTY IT Previous Week Range: 906.3 Points

NIFTY IT share price support and resistance for the week (May 27, 2024 – May 31, 2024)

Level Type	Value
Resistance 3	35,123.95
Resistance 2	34,611.00
Resistance 1	34,217.65
Support 1	33,311.35
Support 2	32,798.40
Support 3	32,405.05

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 20, 2024 – May 24, 2024)

CRON USERMay 17, 2024

May 17, 2024

NIFTY IT closed the previous week on a negative note losing 3.25%.

Technically, NIFTY IT share price will see immediate support at 32,778.50 and immediate resistance would be seen at 33,875.95.

If NIFTY IT share price closes below immediate support of 32,778.50, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,175.15 for the week.

On the positive side, immediate resistance will be seen at 33,875.95. Closing above 33,875.95, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,370.05 for the week.

Trading range for NIFTY IT share price for this week should be between 31,681.05 on down side and 34,973.40 on up side.

NIFTY IT Previous Week High: 33766.7

NIFTY IT Previous Week Low: 32669.25

NIFTY IT Previous Week Range: 1097.45 Points

NIFTY IT share price support and resistance for the week (May 20, 2024 – May 24, 2024)

Level Type	Value
Resistance 3	34,973.40
Resistance 2	34,370.05
Resistance 1	33,875.95
Support 1	32,778.50
Support 2	32,175.15
Support 3	31,681.05

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 13, 2024 – May 17, 2024)

CRON USERMay 10, 2024

May 10, 2024

NIFTY IT closed the previous week on a negative note losing 2.20%.

Technically, NIFTY IT share price will see immediate support at 32,639.30 and immediate resistance would be seen at 33,378.25.

If NIFTY IT share price closes below immediate support of 32,639.30, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,343.45 for the week.

On the positive side, immediate resistance will be seen at 33,378.25. Closing above 33,378.25, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 33,821.35 for the week.

Trading range for NIFTY IT share price for this week should be between 31,900.35 on down side and 34,117.20 on up side.

NIFTY IT Previous Week High: 33525.5

NIFTY IT Previous Week Low: 32786.55

NIFTY IT Previous Week Range: 738.95 Points

NIFTY IT share price support and resistance for the week (May 13, 2024 – May 17, 2024)

Level Type	Value
Resistance 3	34,117.20
Resistance 2	33,821.35
Resistance 1	33,378.25
Support 1	32,639.30
Support 2	32,343.45
Support 3	31,900.35

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INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

NIFTY IT Outlook for the Week (May 06, 2024 – May 10, 2024)

CRON USERMay 3, 2024

May 3, 2024

NIFTY IT closed the previous week on a negative note losing 3.26%.

Technically, NIFTY IT share price will see immediate support at 32,468.32 and immediate resistance would be seen at 33,570.67.

If NIFTY IT share price closes below immediate support of 32,468.32, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,028.23 for the week.

On the positive side, immediate resistance will be seen at 33,570.67. Closing above 33,570.67, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,232.93 for the week.

Trading range for NIFTY IT share price for this week should be between 31,365.97 on down side and 34,673.02 on up side.

NIFTY IT Previous Week High: 33792.85

NIFTY IT Previous Week Low: 32690.5

NIFTY IT Previous Week Range: 1102.35 Points

NIFTY IT share price support and resistance for the week (May 06, 2024 – May 10, 2024)

Level Type	Value
Resistance 3	34,673.02
Resistance 2	34,232.93
Resistance 1	33,570.67
Support 1	32,468.32
Support 2	32,028.23
Support 3	31,365.97

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