Read Latest India Business News headlines 14th January 2019:
– Essel Infraprojects is in talks with Adani Enterprises, Cube Highways and three Canadian pension funds to sell its roads portfolio, which has an enterprise value of Rs.11,500 Crores.
– NCLT has admitted insolvency proceedings against Parsvnath Landmark, a subsidiary of Parsvnath Developers.
– Anant Narayanan, CEO of Myntra is reportedly in discussions with Hotstar to join as CEO.
– Pallav Singh, one of the oldest employees of Ola, has resigned. He was serving as interim COO.
– Yes Bank has appointed Brahm Dutt as non-executive part-time chairman. He is on the Board of Yes Bank since July 2013 and is also chairman of bank’s Nomination and Remuneration Committee.
– Muthoot Microfin has raised Rs.562 crores through securitisation. The firm has raised around Rs.1,300 Crores through securitisation since April 2018.
– As per the data from Irdai, market share of LIC fell below 70% in the fy 17-18 from 71.81% in the fy 16-17. Market share of private insurers increased to 30.64% in 2017-18, from 28.19% in 2016-17.
– BPCL has hit the international bond market to raise around $500 million to meet CapEx requirements for its expansion plans.
– Finance Ministry may consider selling part of its stake held through SUUTI in Axis Bank and ITC. Specified Undertaking of Unit Trust of India holds around 7.97% in ITC and 9.63% in Axis Bank.
– Sushil Modi, Bihar Dy.CM will be heading the seven-member committee of Group of Members to analyse shortfall in revenue collections by states since 2017.
– The government is said to be working on plans to reward top-performing employees of Public Sector Banks. The govt may also slowly reduce its stake in PSBs to 52%.
– Pepperfry’s existing investors Goldman Sachs, Norwest Ventures and Bertelsmann India are considering to invest another $100 million into the firm. The funds will help Pepperfry to diversity and expand its offline presence.
– Varun Beverages is in advance talks to acquire bottling, sales and distribution business of PepsiCo in South and West India. It already runs operations in east and north contributing to around 51% of PepsiCo’s total sales volume.
News credit: Livemint, Economic Times, Business Standard