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

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Read Latest India Business News 11th June 2020:

Quote of the Day: “No company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch

  • Several suitors, including Reliance Retail and Samara Capital, are planning to buy a stake in Future Retail.
  • Arvi, a health-tech startup, launched contactless thermal scanning kiosks which uses the AI technology to combine facial recognition and thermal screening to detect persons with high temperatures and those violating requirements of wearing masks.

latest india business news 11th june 2020

  • A Goldman Sachs arm acquired the student housing facilities of a private university in north India for Rs 900 crores.
  • The CBIC on Wednesday clarified that the pay that Independent directors draw from companies is liable to GST as it isn’t in the nature of salaries given to employees.
  • Dutch pension fund APG Asset Management NV eyes acquisition of 51% stake in Tata Power’s RE InvIT.
  • As RIL faces a loss of income in its hydrocarbon business due to the crash in oil prices and fuel demand, the company is seeking a 10% rent waiver from its fuel retailers.
  • According to Fitch Ratings, corporates around the world are expected to incur a revenue loss of over $5 trillion in 2020.
  • Apollo Global and ICICI Ventures are ending their JV, AION Capital, as the New York-based PE firm plans to set up its own credit investment business in India.

Must Read: Today News Headlines 11th June 2020 

Latest India Business News 11th June 2020

  • Indian Hotels Company on Wednesday reported a decline in Q4 net profit by 38% to Rs 76.29 crores.
  • The SC on Wednesday directed lenders to restructure Amrapali homebuyers’ loans. The apex court ordered that the amount is to be released in line with RBI norms and disbursement of further loans are to be based on the present rate of interest fixed by RBI.
  • Shriram Transport Finance on Wednesday reported a Q4 profit fall by 70% to Rs 223.38 crores.
  • Ula has raised seed funding of $10.5 million from Sequoia India and Lightspeed India.
  • WayCool Foods, an agritech start-up, raised $5.5 million via debt financing from IndusInd Bank, guaranteed by the US International Development Finance Corporation.
  • SEBI removed Rana Kapoor as Yes Bank promoter and reclassified him as an ordinary public shareholder.
  • MakeMyTrip on Wednesday announced that the company has partnered with Meru Cabs to provide an end-to-end contactless journey to travellers across all major airports.
  • SBI will be holding its annual general meeting on 17 June via video conferencing in accordance with norms issued by the Ministry of Corporate Affairs (MCA) and SEBI.
  • Hindustan Petroleum has delayed the completion of the $3 billion Vizag refinery expansion to at least October-November, due to a labour shortage and the onset of monsoon.

Must Read: Aaj ke Samachar 11 June 2020

Latest India Business News 11th June 2020

  • Royal Enfield on Wednesday announced reopening of almost 90% of its dealerships and service centres as the government eases lockdown to kickstart economic activity in centre and states.
  • Welspun India has forayed into health and hygiene category with products that include medical gowns, disposable linen, coveralls, hand sanitizing wipes, surface disinfectant wipes, masks and PPE.
  • Arvind Limited on Wednesday said the company will manufacture anti-viral shirting and suiting fabrics, readymade garments and face masks in India to help consumers in their fight against the coronavirus pandemic.
  • Anand Mahindra invested $1 million in social media startup Hapramp.
  • TCS iON has partnered with NSDC to enable content generation for vocational skilling.
  • M12, Microsoft’s venture fund has opened its office in Bengaluru, India. The local arm will pursue investment opportunities across the region, focusing on B2B software startups in areas of applied AI, business applications, infrastructure, security, and vanguard technologies.
  • Cipla, today announced that the company will acquire 21.85% stake in GoApptiv for Rs 9 crores on a fully-diluted basis.

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