Latest India Business News 22nd October 2019 – Tentaran

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Read Latest India Business News 22nd October 2019:

  • The winter session of Parliament is set to begin on 18th November 2019 and will last till 13th December 2019. While the last monsoon session saw passing of the Triple Talaq, Motor Vehicles Act, amendments in the National Investigation Agency Act and the scrapping of the special status of J&K under Article 370 and the J&K Reorganisation Act, BJP is likely to bring back the Citizenship Amendment Bill to the table again.
  • Several bank employees all over the country working under the AIBEA and BEFI are sitting on a 24-hour strike to protest against issues including the merger of PSU banks. Although, SBI seems to be least affected by today’s bank strike.

latest india business news 22nd october

  • The railways have decided on allowing the carriage to goods of Amazon on a pilot basis for nearly 3 months during non-peak hours. This is a bid for the Indian Railways’ parcel business to get a boost.
  • JSW Energy is set to acquire two troubled thermal power plants, the 1050MW GMR Kamalanga Energy and the 700MW Ind-Barath Energy. JSW can also probably put their expertise in running a portfolio of these power plants to good use.
  • Instacar, a premium outstation rental cab servicing startup with nearly 30000 registered users, has now bagged another round of their funding by Uber Cabs investor, David Cohen.
  • The Macrotech Developers in Mumbai are shifting their focus from posh to cheaper apartments and office spaces as a credit squeeze is crimping demand for posh properties due to a decrease in lending amounts from NBFCs.

Must Read: Maharashtra Assembly Election Exit Poll 2019

Latest India Business News 22nd October 2019

  • The Whistleblower has sent in their complaint with allegations relating to the Infosys CEO’s international travel to the US. In response to this anonymous complaint by the whistleblower, Infosys on 21 October 2019 on the basis of the Chairman said that these complaints are being dealt with in an objective manner.
  • Piramal Enterprises reported a 15.3% increase in their net profits to nearly Rs 554 crores for the quarter ending in September 2019. Their revenue has also grown 13% to Rs 1954 crores.
  • The B2B firm, Zetwerk is in talks to raise $35 million in Series B round led by VC firms Lightspeed Venture Partners and Greenoaks Capital.
  • Manjushree Technopack backed by Advent International has set a strategy to increase its sales through acquisitions in the next 4 years.
  • The merger between Bharti Infratel and Indus Towers was set to complete by August 2019 but the board noted that all the requisite government approvals have not been received to date which is why the processes have not been completed. A new committee will now be exploring all possible options to move forward with.

Must Read: Haryana Vidhan Sabha Election Exit Poll 2019

Latest India Business News 22nd October 2019

  • Punjab-based International Tractors has announced a joint venture called, ‘Luyulika (Laizhou) Agri Machinery Company’ with Shandong Luyu Heavy Industry Company to set foot in the Chinese market.
  • Following the financial crunch in Urban Ladder that led to lay off for nearly 90 employees in June 2019, Vani Kola resigned from the board of the company.
  • BSNL which is passing through a turbulent phase has said that the government might soon be coming out with a revival package within a month. DoT is also planning to fund BSNL VRS packages with a mix of Rs 6365 crores in cash and through bonds.
  • YuppTV has teamed up with BSNL to offer video on demand for users in 2.5G, 3G and 4G networks of BSNL in all broadband services or fixed-line users.
  • Wipro has set plans to promote nearly 5000 employees in the coming quarters to keep the attrition rate in check which will keep the higher number of junior staff from leaving.
  • Blackstone has crossed the $12 billion investment milestone in India and is set to surpass the $13 billion mark by December 2019 completing its 13th year of operations in India.

Must Read: Today News Headlines 22nd October 2019

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