Latest India Business News 11th June 2019 – Tentaran

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Latest India Business News 11th June 2019
  • Salesforce. com has decided to buy big data firm Tableau Software for $15.3 billion. This will be the biggest acquisition in the company’s history. Tableau is said to have more than 86,000 customers, including Verizon Communications Inc and Netflix.
  • Air India could post over Rs.7,600 crores loss in 2018-19, its highest so far. Reportedly, Air India’s total revenue in the fy 18-19 stood close to ₹26,000 crores.
  • Ministry of Corporate affairs has filed applications at NCLT to debar Deloitte and BSR Associates from auditing for five years. The two firms were auditing the accounts of IL&FS.

Latest India Business News 11th June 2019

  • After approval from NCLT, JSW has merged Dolvi Minerals and Metals with Dolvi Coke, JSW Steel Processing Centres with JSW Steel, JSW Salav with JSW Steel.
  • Promoters of Dewan Housing are said to be in discussions with PE investor Apollo Global to sell a big stake.

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  • Jet Airways update –  Hinduja Group has decided to halt negotiations for stock buying in Jet Airways. Etihad Airways has also put on hold its plan to add more investments in the airline.
  • Aditya Birla Fashion has acquired Jaypore, ethnic apparel and lifestyle retailer, for ₹110 crores.
  • Donald Trump has said that even though India has reduced import tariff on American motorcycles from 100 to 50 percent, it’s still too high and unacceptable.
  • Oyo is said to be in talks to raise fresh funding at an expected valuation of $10 Billion.
  • OkCredit, a loan startup, has raised $15.5 Million in a series A round of funding led by Tiger Global. The firm offers solutions to small businesses for transiting from paper to digital.
  • ITC Group has said that they have not made any offer to buy assets of Hotel LeelaVenture.

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  • Tata Capital has decided to exercise its call options and redeem cumulative redeemable preference shares worth ₹500 crores. CRPS is a hybrid instrument, wherein investors get a fixed rate of dividend every year.
  • IL&FS – After an order from NCLT, the board of IL&FS has extended the deadline for submission of claims to June 20.
  • Edelweiss group is acquiring two annuity road assets from the Navayuga Group for around $150 million.
  • Bharti Airtel has agreed to pay $26 million over five years and cancel the debt to resolve a dispute over ownership of its Airtel Tanzania unit.
  • IndiGo has announced daily non-stop flights on the Kolkata-Hong Kong route from August 20, 2019.

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