Here are the India Business News Headlines 13th November 2017:
- Piramal Finance has sanctioned a loan of Rs.400 crore to Advance India Projects Ltd as construction finance. AIPL has five projects under construction.
- Reliance Jio is looking to refinance around $1.5 billion of debt from overseas lenders. This is part of the overall refinancing of $2.5 billion debt of Reliance Industries.
- Air India has received a loan of Rs1,500 crore from Bank of India to meet its urgent working capital needs. Air India had floated a tender for this almost a month ago.
- GST Update – Real estate may not fully come under GST. As per the suggestions of GST Council, Stamp duty and Property tax may be kept out of this.
- GST Update – The biggest beneficiaries of recent rate cuts of GST are consumer staples, cosmetics, household durables and building material manufacturers as 78 per cent of the total 228 items, under the highest slab of 28 to 18 per cent, were items of mass consumption.
- Reliance Industries is set to increase its presence in polyester space after launch of its new brand, RElan through which RIL will get into co-branding of apparel. RIL is the largest manufacturer of polyester in India.
- Accel Partners has agreed to invest another Rs.100 Crore in Sachin Tendulkar backed Sports business, Universal Sportsbiz.
- After bombarding consumers with offers of more data and unlimited calling, Telcos are now working on to partner with e-commerce firms to offer more freebies, cashbacks and deals. This strategic move would help both the parties to gain and retain customers.
- Global Infrastructure is close to acquiring IDFC Group’s private equity portfolio, which has an investment of around Rs.17,000 Crore.
- Government has proposed a subsidy of Rs.3,600 Crore to telecos through viability gap funding for setting up wi-fi in rural areas as part of BharatNet project.
*News as published in Business Standard, Live Mint and Economic Times.