Latest India Business News 20th August 2019 – Tentaran

Read Latest India Business News 20th August 2019:

  • Shell India has offered to sell its 10 percent stake for over Rs.700 crores held in Mahanagar Gas Ltd through a block deal. Mahanagar Gas is a JV between Maharashtra government, GAIL (India), and BG Asia Pacific.
  • SBI Cards and Payment Services has invited investment banks and lawyers to act as advisers for its proposed IPO of Rs.1000 Crores.

latest india business news 20th august

  • Wadhawan Global Capital, the parent company of Dewan Housing Finance, is reportedly selling its loan distribution business to Metdist Group of companies, London-based metal trading firm, for around Rs.150 crores.
  • DHFL has made a fresh default on Rs.1,571 crore on interest payments on NCDs and commercial papers. It is estimated to have a debt of over Rs.90000 Crores.
  • Suresh Narayanan, CMD, Nestle India has said that the FMCG sector is unlikely to touch double-digit growth but will not have degrowth also as it deals with essential items.
  • CCI has put in place a green channel route for quick clearing of M&A approvals subject to certain conditions.
  • IKEA has launched its online store in Mumbai. The move is part of its new multichannel approach to reach 100 million customers over the next few years.

Must Read: Arun Jaitley Health Latest News

Latest India Business News 20th August 2019

  • Balesh Sharma, CEO, Vodafone Idea has resigned citing personal reasons. Vodafone Group’s India representative, Ravinder Takkar will replace him.
  • Ally, a goal setting and execution management software startup, has raised $8 million in a Series A round of funding led by Accel Partners India.
  • Vir Sanghvi has invested an undisclosed amount in Mishry.com, a product review startup.
  • Cognizant is reportedly planning to reduce grace time for employees ‘on the bench’ from 90 to 60 days. If they do not find any billable project within 60 days, they may have to go.
  • H&M says that it has not experienced any slowdown in its stores in India and believes that the growth will continue.

Must Read: India monthly roundup of Start-up world in July, funds, funding and investments

Latest India Business News 20th August 2019

  • RBI is planning to ask banks to start offering loans linked to external benchmarks like the repo rate. The move will benefit customers.
  • Flights to and from Jammu Airport may be suspended for two weeks from October 2, 2019, to facilitate expansion.
  • National Restaurant Association of India has said that restaurants will not the online food delivery Apps to dictate discounts, although they are willing to pay for reservation and delivery. Reportedly 1200 restaurants delisted themselves from various online platforms, but Zomato said only 65 restaurants have logged out.
  • FM Nirmala Sitharaman has rejected the demand for rollback of customs duty on newsprint.
  • BPO firm Aegis may shut down more loss-making centres in various cities to cut down costs. For the quarter ending June 30, the firm reported a loss of $3.5 Million at a revenue of $161 Million.

Must Read: India monthly roundup of M&As and tie-ups in July

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