Here are the India Business News Headlines 30th October 2017:
- TCS, Infosys and Wipro are facing twin trouble of digital struggles and slow legacy business. Accenture is growing fast on the digital front and 52% of its revenue is now coming from the new technology sector.
- A ministerial panel has recommended lowering GST rates for small businesses.The panel has also recommended increasing the ceiling for eligibility to enterprises with annual revenue of less than Rs1.5 crore from Rs1 crore currently.
- IDFC Ltd and Shriram Group are not likely to extend exclusive negotiation period ending on 8th November for their proposed merger so IDFC and Shriram Group shall be free to talk to other prospective suitors.
- As part of its network expansion strategy, Maruti Suzuki has earmarked Rs1,000 crore in the current fiscal to buy land parcels for new dealerships. It has already finalized 120 such land deals in the first half of the current fy.
- Jet Airways has phased out 30 expatriate pilots since April this year after its domestic pilots union National Aviator’s Guild (NAG) sought removal of all such expensive pilots. The company still has 54 foreign pilots working with it. NAG had issued a directive in April to around its 1,000 members not to fly with the expatriate commanders after one of the foreign pilots allegedly assaulted a trainer in Bengaluru.
- US-based private equity firm Warburg Pincus has started talks with UAE ports operator DP World to sell its 31.5% stake in Gangavaram Port in Andhra Pradesh. The port is valued at $1-1.4 billion.
- Ebix, the American software and services company Inc., which bought ItzCash in May this year for around $120 million is now planning to spend an additional $200 million for acquisitions in India. Ebix provides solutions on infrastructure exchanges, enterprise systems and risk compliance in healthcare, insurance and financial services.
- Flipkart has tied up with Decathlon to sell sports merchandise and Sports goods of various Decathlon brands such as Quechua, Domyos, Kipsta, Btwin and Kalenji. The products will now be available on Flipkart at same prices as offline stores.
*News as published in Business Standard, Live Mint and Economic Times.