India Business News Headlines 15th March 2018

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India business news headlines 15th March 2018


Here are the India Business News Headlines 15th March 2018:


  • To get control of Fortis Healthcare, TPG Capital-Manipal Health Enterprises combine and IHH Healthcare could acquire shares from public and the banks. As of now, 80 percent shares are with public and rest of the 20 percent of pledged promoters shares are held by Yes Bank and Axis Bank.
  • World Bank has forecasted India GDP growth rate at 7.3 percent in 2018-19. It also expects Indian economy to clock a GDP growth rate of 6.7 percent in 2018-19.
  • Wipro has signed a definitive agreement to sell its hosted data centre services business to Ensono Holdings, a US-based hybrid IT services provider, for $405 million. Under the agreement, eight data centres alongwith their 900 employees will be transferred to Ensono.
  • Binani Cement sale : UltraTech Cement has raised its offer to about Rs.6,600 crore from about Rs6,200 crore earlier. It is competing with a consortium led by Dalmia Bharat, chosen as the highest bidder.
  • As part of its summer schedule, starting March-end, Jet Airways will introduce additional 144 weekly flights.
  • Piramal Housing Finance, which entered property loans business in September, is targeting Rs.1,000 crore loans, in disbursed loans and sanctioned amounts, by the end of March 18. The firm has assets of over Rs50,000 crore under its management in the real estate segment.
  • Avail Finance, an online lending start-up, has raised an undisclosed amount of funding led by Matrix Partners India and other individual investors. So far, the firm has raised $17.2 million including debt and credit lines from multiple NBFCs and other investors.
  • As per a report, Asia-Pacific Prime Office Rental Index Q4 2017, by property consultant Knight Frank, Connaught Place has emerged as the third most expensive office market in the Asia Pacific region.
  • Kalaari Capital, one of the early investors of Snapdeal, are in early stages of talks with Snapdeal’s promoters to sell of their shares, either in full or part. As per the industry sources, it may sell its shares for around Rs.50 Crore which is way too less than its holding of around Rs.3000 Crores. Kalaari Capital is also said to be in talks with other investors for sale of its shares.
  • Shopclues has received an infusion of Rs.19.4 Crore from its parent company in the US Clues Network.
  • After recently venturing into Ahmedabad, Chandigarh and Jaipur over the last few months, Swiggy is now set to launch its services in Kochi and Coimbatore. Bengaluru, Chennai and Hyderabad are some of Swiggy’s strongest markets.

*News as published in Business Standard, Live Mint and Economic Times.
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