India News Headlines: Latest India Business News 8th July 2020

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Read Latest India Business News 8th July 2020:

Quote of the Day: “Do not read success stories, you will only get messages. Read failure stories, you will get some ideas to get success.” – Dr. APJ Abdul Kalam

  • Yes Bank on Tuesday said its board approved raising funds of capital via FPO.
  • Amazon India received a fresh fund infusion of Rs 2310 crores from its parent company.

latest india business news 8th july 2020

  • Jaadhu Holdings LLC, owned by Facebook, on Tuesday, said the company paid a subscription amount of Rs 43574 crores to RIL’s Jio Platforms to acquire a 9.99% stake in Jio.
  • Shriram Transport on Tuesday said the company will launch its Rs 1500 crores rights issue on 16th July.
  • Unacademy has acquired PrepLadder for $50 million.

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Latest India Business News 8th July 2020

  • After receiving a letter from Local Circles, the DCGI of India, VG Somani wrote to zonal officers and NPPA to remain vigilant on the sale and black-marketing of the crucial COVID-19 drug remdesivir.
  • The government in Assam has invited textile companies to invest in the state, assuring customized support to their business ventures.
  • L&T Infra Finance received the first tranche of $50 million of the total $100 million of external commercial borrowing from AIIB.
  • Medikabazaar has partnered with Zipline and is planning to pilot drone delivery of medicines and critical medical supplies.
  • The ED on Tuesday registered a money laundering case against the GVK group and MIAL to probe alleged irregularities to the tune of Rs 705 crores, in running the Mumbai airport.
  • The Indian IT sector’s revenue may drop down between 4% to 8% in the quarter ending in June, depending on their exposure to troubled sectors like retail, aviation, and hospitality among others.

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Latest India Business News 8th July 2020

  • Mylab Discovery Solutions on Tuesday said the company has launched a machine to automate the manual processes of molecular diagnostic tests, including RT-PCR tests for COVID-19.
  • India’s palm oil imports climbed up 5-month high in June, as traders and refiners in the world’s biggest buyer increased purchases to replenish stockpiles.
  • Serum Institute of India’s CEO said the company is at least 6 months away from approval by DCGI as it is following due processes to be sure about its safety and efficacy.
  • KKR and Actis are in talks to acquire Azure.
  • Kalpataru Power Transmission (KPTL) has signed a definitive agreement to sell Alipurduar Transmission Limited (ATL) to Adani Transmission for a total enterprise value of around Rs 1286 crores.
  • Oyo Hotels is dramatically shrinking its footprint and headcount in virus-hit Japan, as bookings in the country plunge due to travel restrictions.
  • The Agritech sector has witnessed gains during the covid-19 crisis, thus investments from VC firms are expected to exceed $500 million in the next two years.

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