Latest India Business News Headlines 22nd May 2018

Read latest India business news headlines 22nd May 2018 :

 

latest India business news headlines 22nd May 2018

 

– Tata Steel has completed acquisition of 72.65% shares of Bhushan Steel for Rs. 36,400crores and has emerged as the winner of the insolvency auction.

 

– The interim stay on acquisition of Bhushan Steel by Tata Steel, pleaded by the former has been declined by NCLAT on Monday hence approving Tata Steel’s resolution plan for the debt-ridden company.

 

– UltratechCement, on Monday,  has bagged the Deora-Sitapuri-Udipyapura limestone mining block in MP.

 

– PM Narendra Modi meets Russian President Mr. Vladimir Putin, to thank him for the major role played by him, to help India get a permanent membership in the Shanghai Cooperation Organization.

 

– Soon after resignation of a director, Tejinder Singh Shergill, from Fortis Board on Sunday, two more directors, Harpal Singh and Sabina Vaisoha, have resigned a day prior to the EGM to be held for removal of directors.

 

– Fortis Sale: The proxy advisory firms have questioned Fortis’s board on choosing financial investors over those firms that are experienced with running hospital/s. Shriram Subramanian, founder and MD of InGovern Research Services Pvt. Ltd said that the Munjal-Burman offer was not in best interest of the investors.

 

– China has begun large-scale mining operations in Lhunzecounty, close to Arunachal Pradesh. Huge trove of precious minerals has been found in the region, which is valued at $60 billion.

 

– PNB scam- CBI alleged that the ex CEO of PNB was aware of the “fraudulent dealing” with Nirav Modi but kept misleading RBI.

 

– CBI filed charges against Vikram Kothari, the promoter of Rotomac Pens and his son Rahul, for defaulting on payment of loans worth Rs3,695 crore taken from nationalized banks.

 

– Sunil Lulla has been appointed as the group CEO of Balaji Telefilms Ltd, in place of Sameer Nair who left the company after a three-year stint in July last year.

 

– Ather Energy Pvt. Ltd, a start-up electric scooter maker, expects to have 60 charging points in the city by year-end. Source said that that the charging points will be installed at cafés, malls, gyms and tech parks. It is backed by India’s largest two-wheeler maker Hero MotoCorp Ltd and Tiger Global Management.

 

– JPMorgan sells AIRRO to RohatynGroup, and exits infrastructure investment space in India.

 

– Narendra Modi and Vladimir Putin have agreed to co-ordinate on key issues including the Indo-Pacific region and working together through multilateral organizations such as the United Nations, SCO, BRICS and G-20.

 

– China has begun large-scale mining operations in Lhunzecounty, close to Arunachal Pradesh. Huge trove of precious minerals has been found in the region, which is valued at $60 billion.

 

– The increase in crude oil prices will have an adverse effect on the twin deficits of current account and fiscal and have spillover effects on monetary, consumption and investment policies.

 

– Partners Group and Kedaara Capital Fund are planning to acquire Vishal Mega Mart from private equity firm TPG.

 

– Partners Group, the Swiss PE investor, is buying 48 percent stake in Global logic. The sale will value the firm to 2 bn USD.

 

– SoftBank has finally agreed to sell its stake in Flipkart to Walmart. SoftBank is expected to make around 4bn USD against their investment of 2.5bn USD

 

– Milkbasket, a grocery and milk delivery startup, has received 7million USD from Kalaari Capital.

 

– NewsDog, a mobile based news aggregator, has raised 50mn USD from Tencent and other investors.

 

– The Government is planning to reshuffle top positions in large state run banks with SBI senior management. These may include PNB, Bank of India.

 

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

 

For more updates, do Subscribe to our newsletter and follow us on FacebookTwitter and Google+.

One thought on “Latest India Business News Headlines 22nd May 2018

  • May 22, 2018 at 3:58 pm
    Permalink

    I like this article very much. you provide very reliable information for whole day by using single article. Thanks

    Reply

Leave a Reply

Your email address will not be published.

The content and images used on this site are copyright protected and copyrights vests with their respective owners. The usage of the content and images on this website is intended to promote the works and no endorsement of the artist shall be implied. Read more detailed ​​disclaimer
Copyright © 2018 Tentaran.com. All rights reserved.