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.
- 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.
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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.
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