Latest India Business News 11th March 2020

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Latest India Business News 11th March 2020:

Quote of the Day: “To win in the battles of life, a hero needs to constantly focus on the goal rather than on the obstacles in his path.” – Debashis Chatterjee

  • Wonderla Amusement Park in Kochi has temporarily been shut down in the wake of Coronavirus till 20 March.
  • TCS on Tuesday said that its board approved payment of an interim dividend of Rs 12 per share for the FY20.

latest india business news 11th march 2020

Must Read: What is today in history India 11 March

  • According to a regulatory filing, the committee of creditors of Jet Airways will be meeting on 12 March.
  • The Coronavirus’ negative impact on the oil prices has brought down RIL’s refining and chemical valuation by $7 billion.

Latest India Business News 11th March 2020

  • According to the Indian Association of Tourism Operators, outbound travel and domestic tourism in India is expected to take a hit of over $500 million.
  • Goldman Sachs and its Indian PE firm, ChrysCapital  are eying to buy a 20% stake in Shriji Polymers.
  • Northern  Arc  raised $23 million led by offshore investors and marked the first close of its 8th debt fund.
  • Infosys terminated 3 of its employees for alleged involvement in bribery to expedite tax refunds.

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Latest India Business News 11th March 2020

  • The NCLAT upheld CCI’s order, holding AGL guilty for abuse of dominant position while supplying piped natural gas to industrial customers in Faridabad.
  • Some bondholders of Yes Bank filed a court petition against a state-led rescue deal which involves a writedown of their papers.
  • Lakshmi Vilas Bank approached RBI with a plan to raise around $250-300 million from overseas investors via a sale of 49-60% of its stake.
  • Yes Bank administrator, Prashant Kumar assured its depositors that their money was safe and also said that the Rs 50000 limit on withdrawals could be lifted by the end of the week, that is, if the restructuring plan gets implemented by then.

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