Latest India Business News 7th February 2020 – Tentaran

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Quote for the day: “It is better to fail in originality than to succeed in imitation.” – Herman Melville

  • Kia Motors on Thursday denied a media report that stated the company was considering a relocation of its factory from Andhra Pradesh to Tamil Nadu due to various policy changes.
  • Pawan Goenka, MD at Mahindra and Mahindra is exploring partnerships with global manufacturers to jointly develop electric vehicles and powertrains.

latest india business news 7th february 2020

  • SuperMoney, a Fintech startup, raised $1 million from Unitus Ventures.
  • Lupin posted Rs 835 crores worth of loss in the October-December quarter. The impairment provision for Gavis impairment was itself valued at Rs 1580 crores.
  • Hero MotoCorp reported a 17% increase in its Q3 net profit at Rs 905.13 crores.

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Latest India Business News 7th February 2020

  • The real estate market will get a boost from RBI’s decision to allow banks to extend the commencement of commercial operations of project loans by another year.
  • Evolet on Thursday unveiled five new models of electric vehicles at the Auto Expo, (EV), including sports bike Hawk, cruiser scooter Raptor, off-roader Warrior and a three-wheeler.
  • Total SA, a French energy giant has agreed to acquire 50% in Adani Group’s solar assets for $510 million.
  • The Emami Group agreed to sell its cement business to Nuvoco Vistas, a Nirma group company, for a valuation of Rs 5,500 crore.

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Latest India Business News 7th February 2020

  • The Income Tax Department is not in favor of appealing against an NCLAT order which approved demerger of Reliance Jio.
  • Piramal Asset Management along with CDPQ has formed a $300 million SPV to explore financing opportunities in India.
  • IIFL Finance is planning to raise up to $300 million via a sale of dollar bonds.

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