India News Headlines: Latest India Business News 14th May 2020
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Quote of the Day: “Customers will never love a company until the employees love it first.” – Simon Sinek
- Finance Minister Nirmala Sitharaman on Wednesday said the union government will extend the Vivad se Vishwas scheme till the end of December. This means businesses have been offered six more months to settle their direct tax disputes.
- FMCG firms are hoping that measures announced by Finance Minister Nirmala Sitharaman on Wednesday might generate demand as consumers will now have cash, which has been made available in the form of cuts in the TDS and contribution towards EPF.
- Finance Minister on Wednesday offered relief to real estate developers by asking the states and UTs to extend registration and completion date by 6 months of all projects under the RERA. This applies to all real estate project registrations that expire on or after 25 March.
- Maruti Suzuki India will retain its Rs 2700 crores capital expenditure plan for this financial year despite a slowdown due to the coronavirus outbreak.
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Latest India Business News 14th May 2020
- To aim at curbing the spread of the coronavirus, Uber Technologies on Wednesday said that it has globally made it mandatory for drivers, delivery workers, and riders to wear a mask.
- Vedanta’s delisting plans from Indian bourses via his Singapore holding company – Vedanta Resources, may see minority investors feeling shortchanged.
- Siemens reported a 39% drop in its March net profit at Rs 172 crores as customers postpone CAPEX.
- Hewlett Packard Enterprise deployed 4 COVID-19 test labs and 4 OPD centers across the country to assist central and state governments in curbing the coronavirus outbreak.
- Maruti Suzuki India on Wednesday said that its board approved the supply of SUV Vitara Brezza to Toyota Kirloskar Motor.
- SirionLabs, a SaaS startup, raised $44 million as part of a Series C round of funding led by Tiger Global and Avatar Growth Capital.
- Intello Labs, an Agritech startup, raised $5.9 million in a Series A round of funding led by Saama Capital.
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Latest India Business News 14th May 2020
- Godrej on Wednesday reported a 75% drop in its consolidated net profit at Rs 229.90 crores in the fourth quarter ending March 2020.
- LG Polymers on Wednesday said it sent an 8-member technical team from Seoul to India.
- Maruti Suzuki India on Wednesday reported a 28% year-on-year decline in its Q4 net profit to Rs 1292 crores.
- Tata Motors on Wednesday announced that it commenced operations at its Pantnagar and Sanand facilities post approvals from relevant government authorities.
- Kotak Mahindra Bank on Wednesday reported a fall of 10.03% in its net profit for the March quarter due to higher provisioning.
- According to a survey by IP-driven incubation lab BridgeLabz Solutions LLP, over 84.48% of engineers and tech graduates are utilizing the lockdown to reskill or up-skill themselves to stay updated.
- Jet Airways insolvency resolution professional on Wednesday invited fresh bidding.
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