India News Headlines: Latest India Business News 27th July 2020

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Read Latest India Business News 27th July 2020:

Quote of the Day: “A business that makes nothing but money is a poor business.” – Henry Ford

  • IndiGo is planning to take delivery of CFM engines from August onwards to power its fleet of Airbus A320neo planes.
  • Seshagiri Rao, joint MD and group CFO at JSW Steel said, “Demand is returning from industries in consumer appliances, packaging, infrastructure, and construction.”

latest india business news 27th july 2020 today updates

  • Owing to higher treasury income from the sale of investments, ICICI Bank‘s net profit increased 36% YoY to Rs 2599 crores in the June quarter.
  • Sterlite Tech says BSNL’s outstanding dues are now below Rs 100 crores. Group CEO, Anand Agarwal said that the company is hopeful that a substantial part of pending dues will be cleared by the state-owned telco this year.

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Latest India Business News 27th July 2020

  • L&T chairman, A M Naik admitted that their company is not immune to labor disruptions due to COVID-19. However, the company expects normalcy in Q2.
  • Mukesh Ambani’s RIL has overtaken ExxonMobil to become the world’s second-largest energy company after Saudi Aramco.
  • Drugmakers Lupin and Granules India are recalling nearly 9.71 lakh bottles of generic diabetes drugs in the US.
  • After its profitability path zoomed during the lockdown period, Grofers has advanced its plan to launch an initial public offer by the end of next year.
  • Air India’s northern regional office has formed a committee to identify the “redundant” or “surplus” employees. These employees will be asked to go on compulsory leave without pay (LWP) for up to 5 years.

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Latest India Business News 27th July 2020

  • Huawei continues to maintain its leadership position globally. The company reported a growth of 13.1% YoY.
  • Serum Institute of India has sought permission from DCGI for conducting phase 2/3 human clinical trials of Oxford’s Covid-19 vaccine.
  • Zee Entertainment (ZEEL) on Saturday reported a consolidated net loss of Rs 765.82 crores for the Jan-Mar quarter of FY 2019-20.
  • Infosys co-founder, S.D. Shibulal and his family have sold 8.5 million shares of the company between 22– 24 July. This makes 0.20% of their paid-up share capital in the company.
  • An IIT Madras incubated startup raised Rs 22 crores to launch a wearable wrist band for COVID detection.

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