India News Headlines: Latest India Business News 4th July 2020

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Read Latest India Business News 4th July 2020:

Quote of the Day: “Focus on being productive instead of busy.” – Tim Ferris

  • Bombardier Transport India bagged a contract for the supply of 67 trains of three cars each for Kanpur and Agra Metro projects.
  • Pine Labs, an Indian payments company is considering a bid for Wirecard AG’s businesses in Southeast Asia and India.

latest india business news 4th july 2020

  • Indiabulls Housing Finance raised Rs 2200 crores from Oaktree Capital by pledging a part of its real estate loans to the global stressed assets investor.
  • The delays in clearing of Chinese-origin shipments by customs across Indian ports are unlikely to hit output of Indian Pharma companies as the Indian pharmaceutical industry has enough stock of raw materials.
  • Intel Capital is set to invest around Rs 1894.50 crores for a 0.39% stake in Jio Platforms. Following this, the company will become the 11th entity to invest in RIL in a span of 3 months.

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Latest India Business News 4th July 2020

  • As part of global cost cuts, Uber, after laying off 1/4th of its staff in India in May has now also shut down its Mumbai office permanently.
  • Bytedance, the company that owns TikTok has claimed that it is suffering a loss of over $6 billion after the Indian government banned 59 Chinese apps. The company owned 3 apps that were banned in India on 29th June 2020.
  • The Carlyle Group on Friday made a complete exit from its investment in Metropolis Healthcare, selling its residual stake for around Rs 84 crores via black deals on stock exchanges.
  • Workers at Tata Steel’s main plant in the Netherlands on Friday ended a 3-week strike after the company agreed that there would be no compulsory layoffs under the planned reorganization of its Dutch operations.
  • PTC India Financial Services on Friday said it secured a Rs 300 crores term loan from SBI to meet its business growth plans.

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Latest India Business News 4th July 2020

  • Cadila Healthcare on Friday announced the success of its pre-clinical development of a vaccine for COVID-19. The DCGI permitted the company to initiate human clinical trials.
  • Hotels across all segments are launching discounts, staycation packages, and more in order to woo customers back. This comes out as restrictions ease out and properties resume operations in several states of the country.
  • JSW Steel on Friday reported a fall in its crude steel production to 2.96 million tonnes in Q1 (Apr-Jun).
  • Muthoot Finance on Friday said its board of directors will consider the proposal for the stock split in their meeting on 18 July.
  • The ICMR has written to Bharat Biotech India to expedite clinical trials for their jointly developed COVID-19 vaccine ‘Covaxin’, to be ready to launch the vaccine by Independence Day.
  • The DCGI has granted permission to Mylan laboratories to manufacture and market remdesivir for ‘restricted emergency use’ on hospitalized COVID-19 patients.
  • In a letter to its employees, Oyo said the company will be making every employee a shareholder in the company, providing them with ‘deeply discounted ESOPs’.

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