Business news India: Latest India business news headlines today 18 October 2021

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Here’s today business news, the latest business news India today 18 October 2021.

  • VLCC Healthcare has reportedly raised around Rs.37 crores by selling equity shares to Zall Holdings, a Bahamas-based firm.
  • Sabyasachi Das has been appointed as the new Chief Executive Officer of L&T EduTech, a virtual learning subsidiary of L&T.
  • Eight of the top-ten most valued companies reportedly added ₹ 1,52, 355.03 crores in the market valuation over the last week. The biggest gainers were HDFC Bank and SBI.

latest business news india today 18 october 2021

  • Bank of India has recently announced cuts in its interest rates on loans for homes by 35 basis points from 6.85% to 6.50% and for vehicles by 50 basis points from 7.35% to 6.85%.
  • London-based electronics gadgets and accessories maker, WK Life has expanded its retail footprints in India and has planned to go for local manufacturing with an aim to double the contribution of locally produced items to 30% by Q1 of 2022.
  • According to Sponge Iron Manufacturers Association, the domestic sponge iron industry may report a 60% q-o-q fall during July- September if the shortage of coal is allowed to continue.

Must Read: News Headlines of India today 18 October 2021

Latest business news India today 18 October 2021 – business news headlines today

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  • Chingari, a short-video app, has launched crypto-tokens called $GARI and its own marketplace for non-fungible tokens. Salman Khan has been appointed as the brand ambassador for the same.
  • AcknoLedger has reportedly raised $1.53 million in initial seed round and private sales from more than 30 venture capitals such as Basics Capital, Momentum 6, Krypital Capital, Shima Capital among others.
  • Digit Insurance, promoted by Fairfax, is reportedly planning to take its premia sales to over ₹6500 crores in October 2022 on the completion of five years of its operations.
  • Dixon Tech, a domestic electronics manufacturer, has bagged a contract from a US-based company, Orbic, which sells smart devices and will export 5G millimetres waves smartphones.

Must Read: 18 October ke Mukhya Samachar

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  • According to data by Ministry of Power, power consumption in India grew by 3.35% in the first half of October to 57.22 billion units as compared to 55.36 billion units in the same period last year.
  • As per Gem and Jewellery Export Promotion Council, exports of gems and jewellery grew by 29.67% to Rs.23,259.55 crores in September 2021. The exports reported were Rs.17,936.85 crores in September 2020.
  • HDFC Bank has reported a net profit of ₹8834 crores for the quarter ended in September 2021, with an increase of 17.6% from ₹ 7513 crores in the same period last year.

Must Read: Aaj ka panchang 18 October 2021

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