Mjunction launches online shopping service

Mjunction Services, the joint venture of Tata Steel and Steel Authority of India, has diversified its portfolio to include online retail selling.

With technical support from IBM and Cognizant, the new service will be provided through the portal straightline.in. The company is aiming at garnering 30 per cent market share.

Speaking about the business to consumer service, Viresh Oberoi, managing director of Mjunction, said: ''We are looking at a 30-per cent market share of e-retailing in India, to begin with. We have outsourced our logistics services to Drive India Enterprise Solution, another Tata Group company.''

Straightline.in will launch classifieds and business to consumer auctions later this year.

''Business volume in terms of transaction value of our B2B businesses had soared to Rs14,393 crore last fiscal, which would help us retain our leadership position as India's largest e-commerce company. We will build upon our track record with Straightline, our first B2C venture,'' Oberoi said.

Initially, Straightline will connect to visitors from 644 cities and will cover rural areas later next year.