India News Headlines: Latest India Business News 7th August 2020
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- LIC disclosed weak financials and surge in bad loans to 8.17% as the pandemic has been hit by high exposure to stressed sectors such as real estate. The growing inability of borrowers to repay loans has downgraded certain investments during the pandemic.
- The National CoE found that 76.3% of leading companies that provided work from home security and technology solutions in India are startups. The National CoE is a joint initiative by the Data Security Council of India (DSCI) & the Ministry of Electronics and Information Technology (MeitY).
- JK Tyres on Thursday reported a consolidated net loss of Rs 204.17 crores in the quarter ending June.
- Godrej Properties is aiming to launch more projects this year, even as the pandemic has sharply impacted sales and project launches. The company in July raised Rs 1000 crores through allotment of unsecured, redeemable, and non-convertible debentures on private placement basis.
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Latest India Business News 7th August 2020
- HPCL’s Q1 consolidated net profit went up two-fold to Rs 2252.65 crores.
- Torrent Power on Thursday reported its Q1 consolidated net profit up by 35% to Rs 373.87 crores.
- Indian Hotels Company reported a Q1 net loss of Rs 280 crores
- Adani Enterprises on Thursday reported a Q1 consolidated loss of Rs 65.67 crores.
- Adani Power on Thursday reported a Q1 consolidated net loss of Rs 682.46 crores.
- The SC on Thursday ordered a transfer of all pending appeals related to debt-ridden, Jaypee Infratech before NCLAT to itself.
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Latest India Business News 7th August 2020
- The RBI on Thursday included startups in the priority sector lending category. This move will make it easier for startups to raise funds from banks.
- Vodafone Idea on Thursday reported a Q1 net loss of Rs ₹25460 crores.
- Capgemini is planning to reskill nearly 50000 of its Indian employees over the next 6 months to help clients meet changing business needs by adopting emerging technologies.
- IDBI Bank on Thursday said it signed a share purchase agreement with Federal Bank and Ageas Insurance International to offload a 27% stake in IFLI for Rs 595 crores.
- One97 Communications, which operates Paytm, appointed Bhavesh Gupta as CEO of its lending business.
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