Latest India Business News 28th June 2019 – Tentaran

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Read Latest India Business News 28th June 2019:

  • The Godrej Family has denied to any dispute over land holdings. They were only looking for ways  to look at long-term strategy options.
  • China’s biggest electric car maker company, BYD Auto Co.Ltd is set to make an investment in India to develop and produce electrical vehicles.

latest india business news 28th june 2019

  • GoAir recently invited investment bankers and lawyers to discuss to manage their IPO and to pitch in to at least one aircraft to fleet every month.
  • Flipkart is planning to replace almost 40% of their delivery fleet with EVs by march next year.
  • Cox & Kings defaulted on payments of ₹150 crore. They said they are planning to meet the financial obligations by monetisation of assets and internal accruals. This was planned after a mismatch in cashflows which led to a downgrade in their ratings.
  • The money deposited by Indians in Swiss Bank accounts fell with a margin of 6% in the past year. It is now the second lowest level hit in the last 2 decades as shown by the data presented by the Swiss National Bank.

Latest India Business News 28th June 2019

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  • The Government is planning to disinvest in Air India as they provided them with about Rs.3975 crores in the past financial year which only hived off some of their debt.
  • L&T has bagged two large orders ranging between Rs.2500 crores to Rs.5000 crores from ONGC.
  • The RBI after a review of their master direction on frauds is planning to take additional measures for a timely recognition of frauds and enforcement actions against any violations.
  • Cognizant is planning to reshuffle their top deck by hiring the former Wipro executive, Jeff Heenan-Jalil in replacement of Kaushik Bhaumik.
  • SEBI is looking into the allegations on SBI mutual funds’ stake buy in Emami which bought nearly 3.5% in Emami. This is nearly Rs.400 crores which was almost like a bailout for the company’s promoters.
  • LIC has seen an asset base rise of 9.1% which is almost Rs.31.1 lakh crores at the end of the past financial year, 31-March-2019. It was 28.5 lakh crores in the financial year ending 31-march-2018.
  • The RBI has said that denomination of 50 paise and above are now legal tenders irrespective of the design they should be accepted in.

Latest India Business News 28th June 2019

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  • Due to the IL&FS crisis, RBI is planning to discipline the NBFCs. They believe it can cause losses comparable to those caused by big bank’s failures if not disciplined.
  • SEBI has come out with a framework for issue of shares with DVRs in order to encourage founders of technology companies to list their businesses in India.
  • Lemon Tree is conducting a due diligence for acquisition Key hotels to strengthen their position as the world’s sixth largest economy.
  • Kerala Co-operative Milk Marketing Federation started a new venture. It has introduced the Milma mobile app which plans to deliver milk and other milk products to doorsteps of consumers.
  • Tora Cabs have added ride hailing services in Hyderabad. Reports state that nearly 4000 drivers on board with this new invention.

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