Latest India business news headlines 23rd April 2018
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Read latest India business news headlines 23rd April 2018 :
- Biz Stone, Twitter’s co-founder, has invested in ‘Visit’ a Delhi based healthcare startup. Visit uses an AI-based bot in its app to help users choose from a pool of medical specialists and general physicians for consultation.
- FII holding in Infosys dropped to 35.24% at the end of March 2018 as against 38.31% at the end of March 2017. At least three long-standing foreign investors of the company’s have pared their holdings.
- BlackRock Inc., world’s largest asset manager with assets of $6.3 trillion, is ready to enter distressed debt space in India and is on the lookout for a MD who will focus on distressed and NPA opportunities in India. As per RBI data, as on 31 December 2017, India had close to Rs8.41 trillion in NPAs.
- Private equity fund True North is in advanced talks to buy 26% stake in Fedbank Financial Services for Rs400 crore. The transaction is expected to be completed within the next few weeks.
- As reported by Paytm, 100 million Paytm users have completed its KYC. It also claims to have 280 million mobile wallet users and five million merchant partners on its platform.
- Kedaara Capitla and Partners group is in advance talks to buy Vishal Mega Marg from TPG and Shriram Group, its current owners, for around Rs.5000-5300 Crores. The current owners had acquired Vishal retail for Rs.70 Crore.
- Think tank set up by the government to deliberate on e-commerce sector and cross-border digital trade related issues will hold its first meeting on April 24. It is led by Suresh Prabhu, commerce and industry minister and comprises officials from finance, corporate affairs, home affairs, electronics and information technology ministries. Representatives of various Industry chambers would also be participating.
- Around 15 profitable airports, including Chennai and Ahmedabad, could be put under private management in the first privatisation initiative by NDA Government. The move is part of government’s move to enhance India’s aviation infrastructure.
*News as published in Business Standard, Live Mint and Economic Times.
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