New Delhi [India], Apr 20 : E-commerce portal Myntra on Wednesday announced that it has acquired InLogg, a Bengaluru-based technology platform that provides end to end logistics solutions for the ecommerce sector.

As part of the acquisition, the team at InLogg has been inducted into Myntra, making it an acqui-hire that will further strengthen and expand Myntra's supply chain capabilities.

New Delhi [India], Apr 20 : Online video platform Hotstar on Wednesday crossed another milestone by becoming the first local service to register over a 100 million downloads on Google Play Store.

The 'Make in India' video platform raced ahead of other consumer internet companies in India, including e-commerce services like Amazon India and Flipkart, taxi ride services like Ola and payment apps like Paytm, among others.

Almost all of Hotstar's downloads have come from India. The service reached this milestone within just 2 years of its launch in 2015.

Across the Play Store, App Store and other Android app stores cumulatively, Hotstar has crossed more than 200 million downloads since launch.

New Delhi [India], Apr 20 : Asset Vantage Inc., a leader in cloud/mobile-based asset management, accounting and reporting system on the market on Wednesday acquired Santa Clara-based Financial Navigator Inc., a leading provider of integrated general ledger and portfolio tracking software focused on the wealth management in the United States market.

With the addition of Financial Navigator, Asset Vantage will further its expansion into the wealth management accounting software market in North America while gaining a seasoned team of developers and customer support personnel anchored in Silicon Valley. The two companies have a combined customer base exceeding 300 families globally.

Cotton on MCX settled down by -0.48% at 20720 on higher arrivals and sufficient stock levels in the country. India's 2016-17 cotton imports are set to jump more than a third from a year ago to a record 30 lakh bales on stronger rupees. On export front, country has so far contracted about 45 lakh bales in the current crop year, and total exports in the season could be around 5 million bales, down 30% from a year ago. Total cotton arrivals across the country till Apr 7 stood at 27.87 million bales recording a rise of 5% over last year's level of 26.47 million bales, according to the Cotton Corporation of India (CCI) data. Cotton Advisory Board (CAB) estimated 2016-17 cotton crop at 35.1 million bales up from 33.8 million bales a year ago.

Cardamom on MCX settled up by 0.59% at 1270.6 on short covering tracking firmness in spot demand after prices dropped amid reports of higher supplies of imported variety. However prices were further unlikely to improve in the coming week due to accumulation of imported stocks. Arrivals at the auction centres continued to shrink as the season has come to an end and number auctions have been cut in the absence of sufficient quantity. India exported 3,000 ton cardamom during Apr-Dec down from 3,825 on a year ago, data from Spices Board showed. Individual auction average slipped and it was vacillating between Rs. 1,047 and Rs. 1,193 a Kg. Total arrivals during the season from August 01 up to April 8, 2017 were at 15,247 tonnes and sales stood at 14,466 tonnes.

Maize on NCDEX settled flat tracking weakness in overseas prices amid rising estimates on South America's corn output. The USDA left its forecast of U.S. 2016-17 corn exports unchanged at 2.225 billion bushels. Farmers may harvest at an estimated 14.32-million tonnes of maize in 2017‚ which represents the third-biggest maize crop on record. Favourable weather conditions have enabled producers to increase the area planted to summer crops‚ with maize output now expected to be 84% higher in 2017 than in 2016. In its second estimate for the year on Tuesday‚ the Crop Estimates Committee said it had revised the maize output estimate by 2.91% from the first estimate.

Jeera on NCDEX settled down by -1.26% at 19250 on profit booking after prices gained due to expectation of good demand for exports coupled with lower than expected supplies. The arrivals have been lower during the second half of current month compared to last month same period while the demand have increased. Sources estimate India’s jeera crop output will be around 2.5 lakh tonnes, lower than the 3.75 to 5 lakh-tonne estimates put out by experts. Even at the lower crop estimate, jeera exports are projected to range between 100,000-150,000 tonnes, for the year. Exports will happen in spite of higher prices because there is no supplier of jeera available globally. Syria has a significant share at 30,000-40,000 tonnes, while Turkey is very small at 10,000 tonnes.

Turmeric on NCDEX settled down by -0.86% at 6196 tracking lower prices in spot market due to higher supplies and steady demand. Turmeric farmers and traders have been hit hard by poor sales during peak season. Many traders and farmers expected good sales of turmeric during the peak period, which started a month ago. But, this year, for the first time in recent history, both farmers and traders are in agony due to poor production and tepid demand from North India. However, turmeric arrivals in the country is on higher side during second half of March at 79,534 tonnes compared to 63,965 tonnes during last month same period, as per the data.

Mustard Seed on NCDEX settled up by 0.65% at 3896 tracking firmness in spot demand and overseas prices after prices remained under pressure on oversullply woes. Good weather and increase in minimum support prices (MSP), which attracted farmers to plant higher mustard, resulted into record crop of over 71.09 lakh tonnes, says industry body Solvent Extractors Association. Rapeseed-Mustard is the main oilseed crop for the Rabi season which is planted on more than 80% area covered under oilseeds. Rajasthan, Uttar Pradesh, Madhya Pradesh, Haryana and Gujarat are the highest sown states of mustard seed accounting for more than 70% of total mustard acreage in the country.

Crude palm Oil on MCX settled up by 0.66% at 517.1 tracking firmness in spot demand and overseas prices on rising exports and tracking stronger-performing soyoil in US and China. Palm oil shipments from Malaysia rose 20-25 percent between April 1-10 from the corresponding period last month, according to cargo surveyor data on Monday However, the data from the MPOB showed end-stocks for March rose 6.5% from February to 1.55 mt. Output surged 16.3% to 1.46 mt, the first monthly gain since September and the strongest month-on-month rise in over a year. There is expectation of higher stock levels of edible oil in the country as oilseed crushing is going on in full swing. Moreover, government lowered the base import price of CPO by $6 to $747 per tonnes for 1st half of April.

Ref.Soyaoil on NCDEX settled up by 0.48% at 624.5 on buying at lower level amid hopes of higher demand for soymeal in export marker. Export demand for Indian soymeal may rise as meal is disparity of $35 per tons as compared to Argentine soymeal. Large supply estimate of South America with good Indian oilseeds crop led the domestic soyoil price under pressure. According to trader, inventories with traders and stockiest is sufficient and they have opted to buy as per requirements to cater retail demand. Meanwhile, government lowered the base import price of crude soyoil by $21 to $784 per tonnes for first half of April which may pressurize edible oil. There is expectations of bumper oilseeds output and higher availability of edible oil in the country.

Soyabean on NCDEX settled up by 1.47% at 2961 on account of lower arrivals in the mandis due to hoarding by farmers and demand hopes also supporting prices. Though, the soybean market is struggling under the pressure of a global supply glut. Soybean arrivals in local mandis during March fell by 23% compared to previous month as farmers were reluctant to sell crops at lower prices, said the Soybean Processors Association of India. Arrivals during March fell to 500,000 tons as compared to 650,000 tons in February. Soybean crushing has also dropped to 650,000 tons as compared to 700,000 tons in the same period a month ago, SOPA said in its Estimated Supply & Demand of Soybean and Soybean Meal till March press release.

Mentha oil on MCX settled up by 0.58% at 983.8 amid pick-up in demand in the domestic spot market. Further, tight stocks due to fall in arrivals from Chandausi too led to the rise in mentha oil prices. However upside seen limited on speculation that the area under cultivation can increase this year resulting good production. Total production of mentha oil during the current season is 32,000-34,000 tonnes against preliminary estimates of around 40,000 tonnes. Unfavourable weather conditions during harvesting period led to the drop in production. On the demand side, the seasonal demand emerges during winter season, especially from the pharma sector. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year.

Aluminium on MCX settled down -1.13% at 122.35 tracking LME prices amid impatience over the lack of details around Trump's plans for infrastructure Aluminium stocks held in LME-registered warehouses fell to their lowest since late 2008, exchange data showed. China's aluminium makers are expected to step up exports in coming months as a healthier global manufacturing climate and declining world stockpiles boost demand, traders and analysts said. Higher exports of semi-manufactured aluminium could dampen London Metal Exchange (LME) aluminium prices, which have surged nearly 14 percent this year, as well as stoke global trade tensions.

Nickel on MCX settled down -1.52% at 628.40 tracking weakness in LME nickel ended the day down 1.1 percent at $9,735 a tonne as a tentative recovery in broader financial markets lost steam, with geopolitical tensions and fading hopes of a boost to U.S. demand putting pressure on prices. Meanwhile sentiments still remain robust after the news update that the two biggest nickel miners in the Philippines, Nickel Asia Corp and Global Ferronickel Holdings Inc, said prices for the metal would be robust this year due to growing demand from China. The Philippines is the world's top supplier of nickel ore, used to help make stainless steel, with China its No.1 market.

Zinc on MCX settled up 1.27% at 168.1 on short covering after prices dropped recently as data showed Chinese mine supply surged by nearly a fifth last year. The global zinc market moved into a surplus of 19,800 tonnes in February from a deficit of 22,300 tonnes in January, data from ILZSG showed. In the first two months of the year, the zinc market was in a deficit of 2,000 tonnes versus a surplus of 44,000 tonnes in the same period last year. Zinc continues to see plenty of sellers lined up on every rally amid increasingly aggressive CTA selling and ongoing long liquidation. Chinese consumer prices weakened further in March, but were little changed compared to a year ago, while producer prices rose at a steady pace.

Copper on MCX settled down -2.55% at 363.75 shrugging off a tentative recovery in the broader financial markets as geopolitical tensions and fading hopes for a boost to U.S. demand pressured prices. Copper has faltered after BHP Billiton restarted production in Chile last week and Freeport McMoRan said it was waiting for final details on a temporary export permit in Indonesia. Concerns over supply disruptions had sent the metal to a 1-1/2 year high of $6,204 in mid-February. The discount of LME cash copper to the three-month contract was at $32 a tonne, close to the biggest in four years, indicating adequate supply of refined metal in the market. Union representatives and executives from miner Southern Copper in Peru failed to reach an accord to end an indefinite strike, the union said.

Naturalgas on MCX settled up 1.37% at 206.70 on short covering while trader are caution for recent move as over the near term this gains are questionable, given the upcoming weather forecast, ahead of the weekly US Energy Information Administration natural gas storage report. According to natgasweather.com, much of the country will experience comfortable highs of 50’s to 80’s through next week. There will still be numerous weather systems impacting the country daily, but, there is not much cold air associated with each system. As far as highs today, the East Coast will be quite pleasant with 70’s to even lower 80’s, including into major Northeast cities like Washington D.C. and NYC. The net result is light national demand the next several days.

Crudeoil on MCX settled down -0.12% at 3444 as prices gave back some of its gain on some ground in yesterday session tracking weakness from NYMEX Crude which slid by $0.29 to settled at $53.11 a barrel after reaching a one-month high of $53.76 a barrel as traders cashed in on the recent strength despite a report from the EIA showing an unexpected drop in crude oil inventories. Yesterday the US EIA early Wednesday reported that domestic crude supplies fell by 2.2mbls for the week ended April 7, after climbing in each of the previous three weeks. Crude stockpiles have only posted two weekly declines this year to date, according to EIA data. While a day earlier the API late Tuesday reported a 1.3mbl decline, according to sources.

Silver settled flat after prices seen supported as heightened geopolitical tensions underpinned safe haven demand for the precious metal. Investors continued to play it safe as concerns over U.S. military action against Syria and North Korea along with worries over the French presidential election. Risk-off sentiment has boosted to demand for traditional safe-haven assets including bullion, as investors sought refuge from the recent market volatility amid increased geopolitical concerns. U.S. – Russia relations remained in the political spotlight, as U.S. Secretary of State Rex Tillerson was expected in Moscow on Wednesday to meet with his Russian counterpart Sergey Lavrov and discuss a number of sensitive topics including the Korean peninsula, Syria and bilateral relations.