Latest India Business News 18th February 2020
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Latest India Business News 18th February 2020
Quote of the Day: “Success usually comes to those who are too busy to be looking for it.”
- OYO Hotels and Homes reported a consolidated revenue of $951 million for the financial year 2018-19, over fourfold increase from $211 million as reported in the previous fiscal.
- The National Company Law Appellate Tribunal (NCLAT) allowed JSW Steel to acquire Bhushan Power & Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution by the Enforcement Directorate.
- Swedish investment firm Kinnevik has marked down the valuation of Quikr by 45% to about $570 million from more than $1 billion as of September 2019, the firm said in its annual earnings statement earlier this month.
- The Software Technology Parks of India (STPI) expects exports from STPI units, which stood at Rs 4.24 lakh crore in 2018-19, to grow by at least 10% in the current fiscal, STPI Director-General Omkar Rai.
Do read: Today News Headlines 18th February 2020
Latest India Business News 18th February 2020
- With the government coming down heavily on telcos after the Supreme Court’s rap, Bharti Airtel said it has paid Rs 10,000 crore to the telecom department towards statutory dues.
- Beleaguered Indian wireless carrier Vodafone Idea will pay 35 billion rupees ($490 million) in telecom dues to the federal government by the end of this week.
- Moody’s Investors Service slashed India’s growth forecast to 5.4 percent for 2020 from 6.6 percent projected earlier on slower than expected economic recovery.
Latest India Business News 18th February 2020
- An appeals court allowed JSW Steel’s Rs 19,700-crore purchase of bankrupt Bhushan Power by offering it immunity from criminal proceedings in relation to offenses committed by the target company’s previous management.
- Tata Power is planning to increase its network of electric vehicle charging stations to 700 by next year.
- India emerged as the world’s fifth-largest economy by overtaking the UK and France in 2019.
Must read: People that played a role on this day in history 18 February
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