Walmart Owned Flipkart Ties Up With Adani Group

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Walmart owned Flipkart ties up with Adani Group, 2500 people to get direct employment.

Walmart-owned Flipkart has formed a commercial partnership with the Adani Group to strengthen its logistics and data center capabilities, the company reported on Monday.

Adani Logistics Limited, a wholly-owned subsidiary of Flipkart Adani Ports Limited and Special Economic Zone Limited, as part of this two-way partnership, to strengthen supply chain infrastructure and provide faster services to customers.

This will provide direct employment to about 2,500 people: According to the company’s statement will work together Financial details of this partnership are not available.

Adani Logistics Limited will build a 5.34 lakh sq ft warehouse at its upcoming logistics hub in Mumbai, which will be leased to Flipkart to meet the growing demand for e-commerce in Western India.

In addition, Flipkart will set up its third data center at AdaniConex’s Chennai plant. AdaniConex is a joint venture between EdgeConex and Adani Enterprises Limited.

The company was informed that this partnership will strengthen Flipkart’s supply chain, help small and medium businesses and provide direct employment to 2,500 people and indirect employment in the thousands.

The statement said that the center will be equipped with state-of-the-art technologies and is expected to be operational in the third quarter of 2022. The center will have the capacity to hold one crore units available for sale.

Heavy fall in the stock market, Sensex breaks more than 1785 points, Nifty comes close to 14000.

The stock market opened with a fall today on the first trading day of the week. During the day’s trading, the Sensex fell 1785.01 points to 47,806.31 and the Nifty fell 545.90 points to 14,288.95.

At 09:17 am, the Bombay Stock Exchange’s leading index Sensex was down by 836.18 points to trade at 48,755.14 and the National Stock Exchange’s Nifty was trading at 14,565.65 after breaking 269.20 points.

At 09:32 in the morning, the Sensex lost 1404.47 (2.83%) points to trade at 48,186.85 and the Nifty fell 416.30 points to trade at 14,418.55.