Latest India Business News headlines 16th May 2019 – Tentaran

Latest India Business News headlines 16th May 2019 –

  • SBI has offloaded its ₹929-crore exposure in Indian Steel Corp. to India Resurgence ARC, a 50:50 joint venture between Piramal Enterprises and Bain Capital Credit, to recover ₹362 crore in cash.
  • Taco Bell is set to scale up its presence in India and has tied up with Burman Hospitality as its India master franchise partner. It plans to open 600 restaurants over a period of 10 years. India’s quick service restaurants market was estimated at ₹32,880 crore in 2018.
  • Facebook India has partnered with creative agencies to launch an initiative called ‘Thumbstoppers’ to boost 10-sec short-form mobile video advertisements.

Latest India Business News headlines 16th May 2019

  • Tata Global Beverages is acquiring all the branded food businesses from Tata Chemicals in an all-stock transaction.

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  • Tata Global Beverages will be renamed as Tata Consumer Products.
  • Mahindra Partners has acquired a stake in eye care chain, Centre for Sight, for Rs.206.5 crore from Matrix Partners.
  • Grofers has raised $220 million from SoftBank Vision Fund and other investors in a series F round of funding.
  • Panasonic is planning to generate around Rs.700 crore revenue by 2021 from its energy-related vertical.
  • Panasonic is also planning to set up around one lakh charging stations and telematic solutions across 25 cities in India by 2024.
  • UrbanClap has reported unaudited revenue of Rs.116 Crores in fy 18-19.
  • Ola has launched a credit card in partnership with Visa and SBI.
  • Qatar Airways has asked DGCA to permit additional flights to Doha.

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