Latest India Business News 19th August 2019 – Tentaran

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Read Latest India Business News 19th August 2019:

  • Mahindra & Mahindra has deferred some of its new investments and also shed some temporary jobs since April  to cope with the sharp slowdown in demand in the domestic auto industry,
  • The CBI has booked Ratul Puri, former Executive Director and four other Directors of Moser Baer in connection with a Rs.354 crores bank fraud case.

latest india business news 19th august

  • Hyundai Motor has announced various days as ‘no production days’ in August at its Sriperumbudur facility due to the current market conditions.
  • Tech Mahindra has agreed to divest 73.38% stake in its subsidiary FixStream Networks to US-based Resolve Systems LLC for $2 million. FixStream Networks reported revenue of $5.15 million with a loss of $5.19 million in fy 18-19.
  • H&M has unveiled a new ad campaign with Bollywood actors to promote its launch on Myntra. It crossed sales of over Rs.1,100 three years after entering into the Indian market.

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Latest India Business News 19th August 2019

  • Discussions for the acquisition of Medanta by Manipal Hospitals have reportedly been called off.
  • Global Infrastructure Partners, a New York-based infrastructure fund manager, has initiated talks to raise around $1 Billion India-focused infrastructure fund.
  • Coffee Day Group promoters are planning to restart talks with Coca-Cola for selling a chunk of their stake to further reduce group’s debt.
  • RedDoorz, hotel management and booking platform startup, has raised $70 million in its latest round of funding, led by Asia Partners, Mirae Asset Naver Asia Growth Fund and Rakuten Capital. So far, the firm has raised around $140 million in equity funding.
  • MPower Financing has raised $100 million in debt from Goldman Sachs.

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Latest India Business News 19th August 2019

  • The government is planning to give a debt waiver for small distressed borrowers as part of ‘Fresh Start’ provisions Insolvency law. Fresh Start can be availed only once in five years by the debtors whose annual income does not exceed Rs.60,000.
  • The Government may reportedly soon come out with a clarification on FDI policy applicability on the digital media sector.
  • Madhur Deora, CFO of Paytm has been promoted as President. He will be responsible for P&L of consumer business verticals like travel, movie ticketing, and content.
  • Everstone Capital and ChrysCapital are reportedly planning to acquire a majority stake in eMids, a healthcare tech firm, at a valuation of around $200-250 Million.
  • In view of the market conditions in the auto industry, SBI has extended the credit period of automobile dealers from 60 to between 75-90 days.

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