India News Headlines: Latest India Business News 29th May 2020

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Read Latest India Business News 29th May 2020:

Quote of the Day: “Today’s Accomplishments were yesterday’s impossibilities.” – Robert H Schuller

  • Barclays and Nomura scrutinize India’s back-offices after the world’s biggest lockdown in the country.
  • iXceed, an HR-Tech startup, expanded its portfolio by foraying into digital marketing services.

latest india business news 29th may 2020

  • Experts said, amid economic disruption due to COVID-19, an outcome-based pricing model for new projects may just aid the survival of IT service providers.
  • Auto dealers may default on loans as they are staring at an uncertain future. This is because high levels of unsold inventory of BS-VI compliant vehicles are leading to an increase in interest cost, which most of them might not be able to repay.
  • Jet Airways received fresh EoIs from 11 investors ahead of deadline which ends on Thursday.

Must Read: Today News Headlines 29th May 2020

Latest India Business News 29th May 2020

  • LIC is planning to invest Rs 2500-3000 crores in RIL’s rights issue.
  • The Delhi HC on Thursday granted RIL an interim injunction against OLX India and restrained it from publishing certain advertisements that allegedly cause harm to the company’s goodwill and reputation.
  • Paytm Mall has also begun discussions to make a potential investment in grocery delivery firms to boost its play in the delivery of essentials.
  • Daimler India Commercial Vehicles on Thursday said it signed a new MoU with the government of Tamil Nadu to invest Rs 2277 crores to expand its production capacity.
  • Global manufacturers including AstraZeneca, GlaxoSmithKline, Pfizer, and Johnson & Johnson on Thursday pledged to supply COVID-19 vaccines on a no-profit basis in order to improve access to any successful vaccine as and when it’s available in the market.
  • BookMyShow has laid off 18% of employees by furloughing 270 employees across its offices in India and globally.

Must Read: Aaj ke samachar 29 May 2020

Latest India Business News 29th May 2020

  • Ceat reported a 19% drop in its Q4 consolidated profit at Rs 52 crores.
  • Nissan Motor has agreed to settle the dispute with Tamil Nadu after claiming that it was owed Rs 50 billion in unpaid dues and damages.
  • Mubadala Investment Co., an Abu Dhabi-based sovereign fund manager, is planning to make a potential investment for a $1 billion stake in RIL’s Jio Platforms.
  • Google Inc. is planning to pick a stake of around 5% in Vodafone Idea.
  • Federal Bank on Thursday reported a 21% drop in Q4 net profit to Rs 301 crores. The company also has 35% of the total loan under the 3-month moratorium and is planning to focus on preserving capital this year.
  • Pradip Burman sold off Sanat Products, his over 3-decade-old nutraceutical company to Willmar Schwabe India for an undisclosed amount.

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