India News Headlines: Latest India Business News 22nd May 2020

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Quote of the Day: “India has all the pre-requisites to emerge as the software superpower of the 21st century.” – Dewang Mehta

  • Reliance Industries’ Jio Platforms announced that the company will sell a 2.32% equity stake to KKR for Rs 11367 crores.
  • Food delivery unicorns Zomato and Swiggy have now started home delivery of alcohol in some non-metro cities. This will diversify its core business that has severely been hit by the COVID-19 outbreak. Extending the service to India’s top cities may take a while though.

latest india business news 22nd may 2020

  • Mohit Tandon, the co-founder of Delhivery, a logistics startup, made some temporary adjustments to its business to ensure essential items including medicines and FMCGs reach customers in time.
  • Strides Pharma on Thursday said it was set to commence clinical trials on potential COVID drug – Favipiravir.
  • Meena Ganesh, MD & CEO of Portea Medical, a home healthcare service provider, said the Covid-19 crisis could lead to fundamental changes in consumer behaviour.

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Latest India Business News 22nd May 2020

  • Hari Menon, Bigbasket CEO said the company made critical tweaks to its delivery and logistics network to ensure deliveries with 20% capacity during the lockdown as 80% of the on-ground delivery workforce remained unavailable initially.
  • The CCI on Thursday approved the acquisition of Emami Cement by Nirma arm, Nuvoco Vistas Corp.
  • Former RBI Governor, Raghuram Rajan said India’s Rs 20.9 lakh crore stimulus to recover the economy is inadequate. He added that the package gives free food grains but migrant workers and rendered jobless by lockdown need money to buy milk, vegetables, cooking oil, and to pay rent.
  • Huawei on Thursday said it offered to train 2,000 diploma and engineering students in new technologies. The company is partnering with Karnataka to enhance the skills of AI and other technologies in their area.
  • US pharma Gilead Sciences is likely to seek marketing authorization by India’s CDSCO for its anti-viral drug remdesivir. This drug is being considered as a potential medication for COVID-19 by many.
  • Bajaj Auto is set to enter Thailand with premium motorcycle brands by July. These premium brands include KTM, Husqvarna, Dominar, and Pulsar NS series.
  • Honda Motorcycle and Scooter India on Thursday said it will resume operations at its Karnataka unit from 25 May onwards.

Must Read: Aaj ke samachar 22 May 2020

Latest India Business News 22nd May 2020

  • Airtel has acquired a strategic stake in the conversational AI startup, Voicezen.
  • Bike-sharing firms, Bounce and Vogo reopened services as lockdown curbs eased throughout the country.
  • Even though startups continue to lay off employees, startups in segments like education, real estate, and logistics are hiring across roles as they see business growth.
  • Uber on Thursday said it expanded its package delivery service, ‘Connect’ to Delhi, Hyderabad, Noida, Chennai, and Chandigarh.
  • InsurTech startup, Riskcovry on Thursday raised an undisclosed amount in its Pre-Series A round of funding led by Bharat Inclusion Seed Fund.
  • Anil Agarwal is planning to raise up to $2.5 billion from several banks to help finance Vedanta’s delisting offer.

Must Read: Today News Headlines 22nd May 2020

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