Latest India Business News 13th June 2019
- TCS has bagged an order of Rs.310.52 Crores from RBI to implement a centralized information and management system for seamless data collection and validations. The project would be completed in one year. All major IT firms like Infosys, IBM and L&T had applied for the project.
- Manipal Group has acquired Jigsaw Academy, an online analytics and big data trainer for professionals and students, for an undisclosed amount. Jigsaw claims to have more than 50,000 learners in more than 30 countries.
- Sintex Industries, a textile manufacturer, has reportedly defaulted on NCDs worth Rs.86 crores. The firm’s rating was downgraded by CARE Ratings yesterday.
- Zomato has said it has successfully tested its maiden drone delivery technology using a hybrid drone at a remote site approved by DGCA. Zomato had acquired TechEagle, a drone startup, in 2018.
- Voltas CFO Abhijit Gajendragadkar has resigned. Anil George, current CFO, will be re-designated as Dy. MD and CFO.
- Paytm is planning to invest Rs.250 crores this year for the expansion of Paytm QR in tier IV and V towns.
Payswiff has signed a strategic alliance with Mastercard to speed up acceptance and adoption of digital payments in India. Mastercard will work with Payswiff on an omnichannel distribution strategy to provide app, services, and support in regional languages.
- PWC has resigned as the auditor of Anil Ambani led Reliance Capital without submitting its audit report for fiscal 2019 over certain transactions.
- Injeti Srinivas, a top bureaucrat in charge of corporate affairs has said that Independent directors on company boards will soon have to clear an exam before they can be appointed.
- Online wholesale marketplace for food and grocery products, Jumbotail, has raised Rs.90 crores in a Series B round of funding led by Heron Rock.
- Canada Pension Plan Investment Board is in the process of making $150 Million secondary market investment in Delhivery.
- Independent directors’ panel of Mindtree has said that L&T’s open offer price of Rs.980 per share appears “fair and reasonable”.
- GAIL India has proposed to take over the entire debt of around Rs.4,000 crore of Konkan LNG, at a discount of 15-20 percent on total outstanding, in lieu of Konkan’s stake for free. The proposal, however, requires independent stake valuation.