India Business News Headlines 26th March 2018

India business news headlines 26th March 2018

Here are the India Business News Headlines 26th March 2018:

 

  • Ola is in talks to buy Ridlr to improve navigation technology and add intracity bus and train bookings. Ridlr, which  last raised capital in July 2016, provides data on bus and train routes and prices and allows users to book tickets for public transportation.

  • As part of a diversification plan, Hiranandani family is set to invest Rs.3,500 crore in oil and gas business and is building LNG terminals in Maharashtra and West Bengal through H-Energy.

  • GST Update : Indian companies fear that input tax credit claimed for GST paid on raw materials may be disputed by tax officials at a later stage and are planning to keep these funds separate to cover risks arising from rejection of their claims.

  • In line with firm’s strategy to exit non-core market, Indiabulls has entered into a definitive transaction agreement to sell its stake in its Chennai residential assets for Rs.285 crore to a third-party investor.

  • Complying with the SC order, IndiGo and SpiceJet have partially shifted their operations to T2.

  • Tata Motors has named Rajendra Petkar as its CTO effective 1 April. Rajendra was earlier heading the power systems engineering unit at Tata Motors since October 2013.

  • SoftBank Group, Singapore state investment firm Temasek Holdings and a private equity fund managed by Morgan Stanley are in talks to buy one-third stake in Financial Information & Network Operations. The deal will value the firm at around Rs 2,000 crore.

 

  • Uber has entered into an agreement to sell its Southeast Asian business to Grab.

  • A merger of STC and MMTC is being planned by the State Government.

  • A consortium led by TPG including Manipal Health Enterprises, is working to sign an agreement to gain control of Fortis Healthcare. If the deal goes through, it make the consortium the biggest shareholder in Fortis which has a market value of about $1.1 billion.

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