Latest India Business News 12th July 2019 – Tentaran

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Latest India Business News 12th July 2019

Must Read: Sunil Chhetri wins the AIFF Player of the year once again

  • Finance Ministry is reportedly planning to approach NITI Aayog to prepare another list of PSUs where government holding can be brought to less than 51 percent as also which of these could drop PSU tag and become independently board-run private companies.
  • Temasek, Singapore’s state investment arm, is reportedly looking to invest more funds in India, even as it has slowed down investments globally. As of March 31, 2019, Temasek’s India portfolio is $11 billion.
  • Religare Enterprises has sold its NBFC arm, Religare Finvest to TCG Advisory Services.
  • Rivigo has raised $65 million in its ongoing series E round of funding, led by Warburg Pincus, and SAIF Partners.
  • Vedanta is planning to invest Rs.35,000 crores in the metals business. The firm is looking at a growth of 70 percent.
  • GIC Holdings and Abu Dhabi Investment Authority would reportedly infuse an additional $329 million in Greenko Energy Holdings. This would be one of the largest fundraisers by an Indian clean energy producer.
  • Apple’s iPhone XR and XS being assembled in India may hit Indian stores by the next month.

Latest India Business News 12th July 2019

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  • Tiger Global is looking to exit from PolicyBazaar and is said to be in talks with Tencent and SoftBank to pick up its 21 percent stake at a valuation of $1.5 billion.
  • West Bengal Assembly passed a resolution against the Central Government’s decision to initiate privatization of CPSEs demanding it is revoked immediately.
  • Moglix, a B2b commerce firm, has raised a funding of $60 million in a series D round led by Tiger Global.
  • Casio has reportedly filed a case against SnapDeal and its sellers for allegedly selling counterfeit versions of its products. Tis Hazari court has restrained Snapdeal and its sellers from displaying, advertising and selling goods with Casio trademark.
  • The government wants Sebi to also probe the role of all board members, entities associated with the two promoters of InterGlobe Aviation and take strict action against the parties found guilty.
  • Vistara Airlines is launching its International operations from next month and starting flights to Singapore from Delhi and Mumbai.
  • Rajesh Bharadwaj, the absconding director of Bike Bot, has been arrested. He had duped around 2.25 Lakh investors of Rs.1500 crores.
  • Anil Ambani is planning to raise around Rs.21,700 Crores from asset sale to cut on debt.
  • Bharti Airtel has partnered with Shaw Academy, an edu-tech platform, to offer free access to online courses to its customers.
  • Accenture Inc has named Julie Sweet as its new CEO effective September, who will also join the board of Directors of the company. She is currently looking after Accenture’s business in North America.

Must Read: Today News Headlines 11th July 2019

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