India News Headlines: Latest India Business News 2nd June 2020

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  • Flipkart on Monday said it would re-apply for a food retail license in India after reports suggested that the company’s earlier proposal was rejected by the government last week.
  • India’s aviation regulator, DGCA has told airlines to keep middle seats in the aircraft vacant or offer protective gowns to passengers.

latest india business news 2nd june 2020

  • Small and mid-sized hospitals have reached out to the Union Health Ministry, seeking benefits/sops similar to those extended to MSMEs.
  • Make MyTrip is laying off 10% of its staff (350 employees), citing business slowdown due to travel restrictions.
  • Honda Cars India on Monday announced domestic wholesales of only 375 units in May. The company is yet to open its production in its Uttar Pradesh and Rajasthan factories.

Must Read: Today News Headlines 2nd June 2020 

Latest India Business News 2nd June 2020

  • Ashok Leyland reported a total domestic sales of 1277 units in May which records a 90% year-on-year drop.
  • Hero MotoCorp on Monday announced wholesale of 112682 motorcycles and scooters in May.
  • According to ICRA, Passenger vehicle sales in Q1 are likely to crash by over 80%.
  • UPI transactions witnessed a recovery in May as lockdown norms ease. According to NPCI, the total number of transactions touched close to 1.23 billion.
  • Royal Enfield reported a 69% decline in its volume for May at 19113 units.
  • The SEBI panel proposes wider avenues for Social welfare enterprises and non-profits by allowing them to raise social capital on a transparent electronic platform. This will aid the process of rebuilding livelihoods post the pandemic.
  • Mahindra & Mahindra reported a 79% decline in its domestic sales to 9076 units in May and has also reported total domestic tractor sales of 24017 units in May.
  • Max India on Monday said it completed its merger of Radiant Life’s hospital assets with Max Healthcare. The process followed the NCLT’s approval for the composite merger scheme.
  • AirAsia on Monday said it is offering 50000 seats without base fare to doctors amid pandemic.

Must Read: Aaj ke samachar 2 June 2020

Latest India Business News 2nd June 2020

  • JK Tyre on Monday announced that the company forayed into the US by setting up wholly-owned subsidiary Western Tyres.
  • In an effort to minis disruption, OYO is granting ESOPs worth Rs 130 crores to all its furloughed employees impacted by the pandemic.
  • Mahindra & Mahindra Financial Services on Monday said the company will raise up to Rs 3500 crores via a rights issue.
  • BharatPe has appointed Ankur Jain, former Walmart Labs executive, as its chief product officer to handle the complete product life cycle and innovation at the startup.
  • The government (CAPF canteens) has decided not to sell 1000 non-swadeshi products from firms like HUL, Jaguar, Eureka Forbes, and others from today itself.
  • Hyundai Motor India on Monday reported domestic wholesales of 6883 units in May.
  • OPPO and T-Hub have partnered on Monday announced a tie-up to support India’s startup ecosystem. It aims at helping startups in scaling up areas of AI, 5G, battery, camera and image processing, gaming, and system performance.
  • Paytm Mall has appointed Abhishek Rajan as COO and has plans to shift its headquarter from Noida to Bengaluru.
  • Cube Wealth, a Technology-based investment startup, has raised mid-series funding of $500000 led by founder Satyen Kothari, along with Beenext and Asuka Holding.
  • Biocon partner Mylan received a favorable ruling from the US PTAB in its dispute with Sanofi over 4 patents of their insulin injection pen.
  • Maruti Suzuki India sold 18539 units in May.

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