India News Headlines: Latest India Business News 11th August 2020

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  • Chairman and MD at Glenmark, Glenn Saldanha said the COVID-19 pandemic has highlighted the need for Indian companies and research organizations to collaborate with the government to develop new drugs in order to meet future health crises.
  • Despite the impact of the coronavirus, SAIF Partners have doubled their investments in India in the last 7 months. They tapped into new segments including edtech, healthtech, SaaS, entertainment, and direct to consumer startups.

latest india business news 11th august 2020

  • Goldman Sachs Singapore PTE on Monday sold a 0.75% stake in TVS Motor Company for Rs 148 crores via open market transactions.
  • Airports Authority of India has put GoAir on a cash and carry mode with effect from 11 August. The AAI had earlier asked the company to clear its unpaid dues of around Rs 50 crores.
  • South Indian Bank on Monday said it obtained in-principle approval from the RBI to set up a wholly-owned non-financial subsidiary.

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Latest India Business News 11th August 2020

  • JSW Cement postponed its IPO plans to 2022, due to muted demand. The company was earlier planning to release its IPO in December 2020 but now they are planning to use the intervening period to increase their capacity from 14 million tonnes per annum to 20 million tonnes by 2022.
  • Patanjali is planning to bid for the IPL 2020 title sponsorship. This decision came after the anti-China backlash which forced the BCCI and Chinese smartphone, Vivo to mutually annul the sponsorship association for the 13th edition of the T20 tournament being held in UAE from 16 September.
  • Kotak Mahindra Bank on Monday said the company has complied with RBI’s guidelines on promoter shareholding within the prescribed timeline.
  • Bank of Baroda on Monday reported a Q1 net loss of Rs 864 crores due to higher provisions and contingencies.
  • The board of directors of InterGlobe Aviation Limited, which operates IndiGo, has approved to raise up to Rs 4000 crores via QIP.
  • Titan on Monday reported Q1 consolidated net loss of Rs 297 crores, impacted by lower income due to the COVID-19 pandemic.
  • Prestige group is planning to sell its various commercial assets for around Rs 12000 to Rs 13500 crores as part of its strategy to clear debt and achieve growth in the future.

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Latest India Business News 11th August 2020

  • ICICI Bank on Monday announced floor price for its QIP at Rs 351.36 per share.
  • Force Motors on Monday reported a Q1 consolidated net loss of Rs 64.99 crores.
  • Union Bank of India on Monday announced a cut in its MCLR by up to 15 basis points across various tenors, effective 11 August.
  • Swiggy on Monday launched ‘Instamart’. It is a quick grocery delivery bandwagon that delivers grocery within 45 minutes in Gurugram.
  • Zoomcar has launched a telematics software, ‘Zoomcar Mobility Stack’ for fleet owners amid a slowdown in mobility. This product includes an IoT device and software that will work across both internal combustion and electric vehicles and is fully hardware agnostic.
  • Honda Cars India on Monday said it has started pre-launch bookings of its new model, Jazz at an amount of Rs 21000 at all authorized HCIL dealerships across India or online via ‘Honda from Home’ platform on the HCIL website with an amount of Rs 5000.
  • Flipkart has launched ‘Flipkart Leap’ which is a startup accelerator program. The 16-week program will open opportunities for startups to prepare their innovative solutions to be market-ready and to allow them to win an equity-free grant of $25000.

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