Latest India Business News 16th November 2018

Read the latest India business news 16th November 2018:

india business news 16th november 2018

– Rabo Equity Advisors, the Food and agriculture-focused investment firm,is looking to raise $350-$400 million for its third fund.

– Infosys has appointed Jayesh Sanghrajka as interim CFO, who will replace M.D. Ranganath, who had announced his decision in August to step down.

– Oyo Hotels has appointed Aditya Ghosh, ex-IndiGo president, as its new CEO with effect from 1st December.

– In the process of aligning with Flipkart, Jabong shall start lay-offs from its 400 strong workforce.

– After Myntra CEO Ananth Narayanan and CFO Dipanjan Basu’s decision to resign, a lot of reduction in workforce is expected.

– In response to a PIL, Enforcement Directorate has told Delhi High Court that it was investigating if Amazon and Flipkart violated provisions of foreign exchange law.

Must Read: India Tour of Australia: Full Schedule Test, ODI & T20

– M&S Reliance operation in the fashion category has finally turned profitable after a decade of launch. They posted a profit of Rs.66.3 Crores in fy 17-18.

– O P Bhatt, former SBI Chariman, has resigned from the panel set up by Yes Bank to find a successor to Rana Kapoor, MD & CEO.

– BigBasket is expecting to cross Rs.3500 Crores in sales in fy 18-19. Its revenue crossed Rs.2000 Crores in fy 17-18.

– Exports from India rose by 17.5% to $26.9 billion in October 2018.

– ITC is looking at portfolio expansion in its food division to achieve the stated vision, set by its chairman and managing director of achieving Rs.1 trillion turnover from FMCG.

– The Government is looking to raise around Rs.140-billion through a basket share sale in 11 central public sector enterprises.

– Mahindra Group is looking to invest Rs.5 billion for setting up a global R&D centre for EVs in Bengaluru as also a high-voltage electric drivetrain plant in Chakan.

For more updates, do Subscribe to our newsletter and follow us on FacebookTwitter and Google+

News credit: Livemint, Economic Times, Business Standard

Leave a Reply

Your email address will not be published.

The content and images used on this site are copyright protected and copyrights vests with their respective owners. The usage of the content and images on this website is intended to promote the works and no endorsement of the artist shall be implied. Read more detailed ​​disclaimer
Copyright © 2018 All rights reserved.