Business news India: Latest India business news headlines today 5 August 2022

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Here’s today business news, the latest business news India today 5 August 2022

  • Tiger Global has sold its 2.34% stake in Zomato by selling over 18.45 crore shares in the open market.
  • The market of FMCG products in India fell by 8% in value for the third consecutive month as the higher prices continue to weigh on demand.
  • Britannia Industries to increase prices by 6-7% to cover the cost of commodity inflation in the ongoing financial year.

latest business news India today 5 august 2022

  • As per the Federation of Automobiles Dealers Association, the retail sales of automobiles fell by 8% in July to 14.7 lakh units.
  • Axis Bank to wind up its subsidiary in Britain due to failure of deal with a financial firm OpenPayd.

Must Read: 5 August in Indian history

Latest business news India today 5 August 2022 – business news headlines today

  • Northern Arc Capital has raised $25 million from Proparco.
  • Airtel will roll out its 5G services in August and will partner with Ericsson, Nokia, and Samsung for the same.
  • The Central Depository Services India has reported that the active number of accounts has crossed the 7 crore mark on the platform.
  • The rating of Yes Bank has been upgraded by Moody’s from B2 to Ba3 along with a “stable” outlook due to the announcement of its equity capital raise plan.
  • Amalgamated Plantation, the second largest tea producer in India, has launched its first tea lounge in Guwahati with an aim to scale up its business.
  • PTC India Ltd and SJVN have entered into a pact for the sales of electricity from two hydel power projects.

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  • LIC has broken into Fortune Global 500 list and has been ranked 98th on the list.
  • Reliance Industries has jumped to 104th place in the latest Fortune Global 500 list.
  • L&T Group targets its revenue at Rs 2.7 lakh crores in the upcoming years till 2025-26.
  • A non-binding offer worth Rs 462 crores has been made by Adani Group for the acquisition of Air Works and is subject to the completion of satisfaction.
  • A long-term franchise deal has been signed by Reliance Brands Ltd with fashion house Balenciaga to introduce it in India as the matured customers use high-end brands as a symbol of expressing their creativity.
  • A 76.48% increase has been reported by Adani Enterprises Ltd in its consolidated profits at Rs 468.74 crores for the quarter ending in June 2022.

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Latest business news India today 5 August 2022 – business news India today

  • The Executive Centre, a Hong-Kong based flexible workspace provider, has leased 1,00,000 sq ft in 3 cities due to rising demand for managed workspace.
  • IRDAI has proposed to increase the limit of tie-ups between insurers, intermediaries, and marketing firms from three to nine.
  • The new private equity firms and platforms are entering the Indian markets or strategizing their entry into the warehousing, industrial, and logistics sectors due to higher demands and growth.

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  • Rs 1238 crores has been set aside by Indus Towers as doubtful debts in the balance sheet on account of receivables due from key customers.
  • A drop of 61% in profits has been posted by Adani Transmission Ltd at Rs 168 crores for the June quarter from Rs 433 crores in the previous year.
  • Altigreen has partnered with Exponent Energy with an aim to make rapid charging a reality for eCVs in India.
  • Rs 5500 crores worth of loans have been tied up by Greenko from Power Finance Corporation for building India’s first off-river energy storage projects in Andhra Pradesh.
  • Adani New Industries Ltd and Reliance Industries have planned to set up 2 compressed biogas plants each with investments worth Rs 500-600 crores each.
  • 225MW Hybrid Power Project has been commissioned by Tata Power Green Energy Ltd in Rajasthan and the power generated will be supplied to Tata Power in Mumbai under PPA.
  • Inox Wind has bagged an order for a 200MW wind power project from NTPC Renewable Energy Limited and will be commissioned in Gujarat.

Must Read:News Headlines of India today 5 August 2022
Must Read:Today Current Affairs 5 August

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