Latest India Business News 9th July 2019 – Tentaran

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Read Latest India Business News 9th July 2019:

  • 33 other lenders may have exposure to Bhushan Power. PNB’s total exposure to Bhushan Power stands at Rs.4,399 crores, more than 85% of which has been classified as fraud.
  • M&M is aggressively working on the farm machinery ecosystem to boost its farm equipment business, which is majorly dependent on tractor sales.
  • Airbnb reportedly had a direct economic impact of around $150 million in India in 2018. Airbnb hosts collectively earned around $28 million.

latest india business news 9th july

  • Flipkart has partnered with Cleartax to help sellers connect with specialist CAs offering various tax and accounting related services.
  • PharmEasy is reportedly looking to close a $120 million round in equity funding from various investors in around a month.

Latest India Business News 9th July 2019

Must Read: JRD Tata – a Successful Businessman and a great human being

  • The decision of the government to impose a tax on stock buybacks may impact Infosys, Wipro, and many other companies where share purchases worth Rs.100 billion are in progress. Over 70 companies completed Rs.354.6 billion of share buybacks between Jan to June 2019.
  • Various PE funds including General Atlantic, Temasek, and Goldman Sachs are reportedly trying to buy a stake of up to 10-12 percent in BookMyShow at a valuation of over $1 billion.
  • Income Tax dept is working on a processing centre which will allow issuance of e-PAN on a real-time basis.
    Sebi has informed NCLT that it would need another three months to complete its probe into the deal between Hotel LeelaVenture and Brookfield.
  • P. Rajagopal, the founder of Saravana Bhavan, known as India’s ‘Dosa King’, has sought a delay to life sentence for murder citing ill health. He had to surrender by July 7 after his life conviction was upheld by Supreme Court in March. He was reportedly obsessed with the daughter of an employee, wanted to marry her, so ordered the killing of her husband.
  • Yes Bank has appointed Rajeev Uberoi as senior group president, governance and controls, and Anurag Adlakha as senior group president and head, financial management and strategy.
  • LinkedIn has appointed Ashutosh Gupta as its India country manager. Gupta will replace Mahesh Narayanan. Prior to joining LinkedIn in 2013, Gupta worked with Google, Cognizant, and Infosys.
  • Vinod Kumar, ex MD, Tata Communications, will be joining Vodafone as Head of Global Business from Sept. 2.
    Kerala-based private lender CSB Bank is reportedly set to file its draft IPO papers. After RBI’s approval Canadian billionaire Prem Watsa’s Fairfax had acquired a 51% stake in CSB Bank last year for around $168 million.

Must Read: Sachin Bansal and Binny Bansal

Latest India Business News 9th July 2019

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