Latest India Business News 23rd April 2019 – Tentaran

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Latest India Business News 23rd April 2019

  • Private equity firm Blackstone has signed a definitive agreement with Essel Propack’s promoter, Ashok Goel, to buy a 51% stake. The deal cost is expected to be between Rs.2,157-Rs.3,211 crores. Essel Propack is world’s largest producer of laminated plastic tubes used by pharmaceutical and FMCG firms.
  • Twitter has appointed Manish Maheshwari as new MD for the India market effective 29 April. Maheshwari was earlir CEO of Network18 Digital.

Latest India Business News 23rd April 2019

  • Spicejet has signed an initial pact for code share partnership with Emirates airline. Code-sharing allows an airline to book its passengers on its partner carriers.
  • As per Trai data, Jio has emerged as the fastest mobile network in Feb. with an average download speed of 22.2megabit per sec.

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  • Bank Unions have suggested that the lenders of Jet Airways should offer special loans to Jet employees to tide over the financial crisis due to non-payment of salaries.
  • Flipkart has opened its second data-centre in India at Hyderabad and has reportedly invested around Rs.200 crores for the same. The first data-centre is in Hyderabad.
  • GAIL has emerged as the winning bidder for wind assets portfolio of IL&FS with a bid value of Rs.4800 crores.
  • Etihad, the only airline to have shown interest in investing in Jet Airways, has also reportedly backed out of the process.
  • The Supreme Court has asked Madurai Bench of Madras High Court to hear the case of TikTok app by 24th April else the ban will be automatically lifted.
  • Bounce, the two-wheeler rental startup, is close to raising $80 million from its existing investors- Sequoia Capital, Accel Partners and Chiratae Ventures, and some new investors.
  • ZestMoney, a fintech firm, has raised $20 million in its Series B round of funding led by Quona Capital. It had previously raised $6.5 million seed funding in 2017.

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