Latest India Business News 25th September 2018

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Read the latest India business news 25th September 2018:

India Business News 25th September 2018

General Motors is in advanced talks with JSW Energy of Sajjan Jindal to sell its last car plant in India for approx. Rs.3,500. If the deal goes through, this will lead to GM’s complete exit from India.

After entering the mutual fund segment, Paytm Money now wants to start share trading and may submit its application with the stock exchange within two weeks.

Facebook has appointed Ajit Mohan as MD & VP of Facebook India. Ajit is currently serving as chief executive of Hotstar and will join Facebook early next year.

Promoters of Essel Propack, part of the Essel Group, are in preliminary talks with two foreign packaging companies, Amcor Ltd and Huhtamaki Oyj to sell a controlling stake. Morgan Stanley has been mandated to manage the sale.

Profectus Capital, a UK-based PE Actis LLP backed non-banking finance company, is working to achieve a loan book of around ₹ 10,000 crores in the next five years. Profectus lends between ₹ 5 crore to ₹ 50 crore to SMEs.

Board of Dena Bank has approved government proposal to merge the bank with Bank of Baroda and Vijaya Bank.

The government is planning to sell its stake in SJVN and Power Finance Corporation to NTPC and Rural Electrification Corporation, to raise ₹ 20,000 crores to rein in India’s fiscal deficit.

Due to increasing demand in services, Blue Dart is planning to invest Rs 20 bn to reach out for lower-tier towns and upgrading technology.

Infosys has won $700 Million contract from Verizon which involves the development of ADM and BPM services. After AT&T, Verizon is Infosys’ second largest account in the telecom sector.

The government has extended the deadline for filing ITR and audit report for fy 2017-18 till October 15.

Sebi is reported to be reviewing DHFL and Yes Bank for trading irregularities, whether brokers and investors colluded during the sharp sell-off and subsequent recovery in financial stocks.

Amazon and Flipkart shall reportedly spend an estimated ₹ 400 crore on advertising to promote Diwali sales in October.


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News credit: Livemint, Economic Times, Business Standard

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