Latest India Business News 6th June 2019
- Essel group has sold two transmission assets to a fund managed by Edelweiss. The group is trying to reduce its debt.
- Wipro will acquire US-based International TechneGroup Inc for $45 million. ITI offers Computer Aided Design and Product Lifecycle Management interoperability software services from its offices in the UK, Italy, Israel, and Germany.
- PM Narendra Modi will head two separate Cabinet committees on investment & growth and employment & skill development.
- The government’s investigations into the accounts of Jet Airways and Naresh Goyal could derail revival plans of the airline.
- Jaguar Land Rover and BMW Group will work together to develop next-gen electric drive units which will support both the companies’ overarching technology advancements.
- NoBroker.com, a brokerage-free real estate platform, has raised $51 million in a Series C round of funding led by General Atlantic. Its existing investors SAIF Partners and BEENEXT also participated in the round. The firm has so far raised $71 million.
- RBI has approved the sale of DHFL’s stake in Avanse Financial to Warburg Pincus Group. DHFL board had on 16th March approved the divestment of the company’s entire 30% to Olive Vine Investment, an affiliate of Warburg Group.
- Crisil has downgraded CP of Dewan Housing to D from A4+, while Icra cut its rating to D from A4.
- The Government may infuse around Rs.4000 Crores in three Insurance PSUs.
Must Read: Five habits that can make you smarter
- Instagram has introduced a new opt-in feature that will allow users to view the content with reduced image loading time thereby using less data.
- IRDAI has approved a third-party motor premium increase of 4.4 percent for bikes and 12 percent for cars.
- Lufthansa has equipped all its long-haul aircraft with mobile ECG. This will allow flight attendants to record ECG for a passenger and sent the results directly to a medical hotline on the ground in an emergency.
- MG Motors India is planning to manufacture electric vehicle EZS at its facility in Gujarat.
Must Read: How to turn your passion into a business?