India News Headlines: Latest India Business News 10th July 2020

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Read Latest India Business News 10th July 2020:

Quote of the Day: “Great things in business are never done by one person. They’re done by a team of people.” – Steve Jobs

  • TCS on Thursday reported a low Q1 profit with a dip of 14% to Rs 7008 crores. 1% of the company’s employees are working from its facilities as the pandemic forced its clients to cut spending on IT services.
  • PNB on Thursday said the bank reported a fraud of Rs 3688.58 crores in NPA account of DHFL to the RBI. The bank’s board also approved a Rs 10000 crore fundraising plan, through a mix of both equity and debt.

latest india business news 10th july 2020

  • SEBI is not in favour of a demand from CRA to let them withdraw ratings of uncooperative companies that fail to provide the required information. It wants the rating agencies to rate all issuers.
  • The government in Gujarat decided on reversing its 2018 decision to amend the PPAs it signed with Tata Power, Adani Power, and Essar Power in order to raise tariffs which will lead to an offset in the rising cost of imported coal.
  • Flipkart on Thursday announced an investment of Rs 260 crores to pick up a minority stake in Arvind Youth Brands.

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Latest India Business News 10th July 2020

  • RIL and BP India on Thursday announced the commencement of their new Indian fuels and nobility JV, RBML.
  • Starbucks on Thursday opened its first drive-thru outlet in India. This new store is located on the Ambala-Chandigarh Expressway.
  • Zara India on Thursday reported a 45.5% jump in FY20 profit.
  • Cognizant sees a spate of senior-level exits with its India chairman and managing director, Ramkumar Ramamoorthy and head of global delivery, Pradeep Shilige resigning after spending over 2 decades at the company.
  • Cars24 Financial Services raised its first debt funding of Rs 10 crores from Vivriti Capital.
  • PI Industries, an agri-sciences company, approved issue price of Rs 1470 for QIP through which the company raised Rs 2000 crores.
  • The UP government has approved a startup policy which aims to encourage entrepreneurs in establishing new ventures and to generate employment opportunities in the state.

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Latest India Business News 10th July 2020

  • Ruchi Soya Industries appointed Sanjeev Asthana as its CEO.
  • Mastercard on Thursday announced an additional Rs 250 crore investment to help small businesses in India, amid COVID-19 pandemic.
  • Praj Industries on Thursday forayed into developing technologies to produce bio-based renewable chemicals and materials (RCM).
  • Oyo is looking to focus on Europe, Southeast Asia, and Indian markets for fresh bookings as travel restriction ease.
  • Freshworks Inc acquired IT orchestration and cloud management platform, Flint to support its IT support service portfolio, Freshservice.
  • Yes Bank on Thursday said it will launch its FPO on 15 July. The offer will close on 17 July.
  • PCBL is planning to set up a Rs 600 crore greenfield plant near Chennai.

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