Latest India Business News Headlines 2nd May 2018

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Read latest India business news headlines 2nd May 2018 :

• EXL, an Operations management and analytics company, is acquiring SCIO Inspire Holdings, as part of a $240 million deal. SCIO is a Connecticut-based healthcare analytics solution and services company, serving over 100 healthcare organizations with 1,100 professionals in various locations across India, US and UK.

• Top car makers of India have reported growth in sales by 11.99%. These companies include Mahindra and Mahindra, Maruti Suzuki, Toyota Kirloskar, Tata Motors and Hyundai Motors.The sales seem to have recovered because of Akshay Tritiya.

• Sajjan Jindal’s JSW infrastructure group plans to invest Rs 8,800 crore over the next three years and also expand cargo handling capacity from current 75 mtpa to 200 mtpa. JSW infra wants to build facilities to handle LPA and LNG chemicals and bulk cargo.

• Fortis update : Munjal-Burmans and IHH have added new terms to strengthen their bids for the Fortis. Meanwhile, some doctors are quitting their jobs because of the uncertainty.

• Flipkart-Walmart deal – Walmart and some other Flipkart investors, including SoftBank, are yet to agree on the final terms and the deal is expected to take around a month to be signed. SoftBank is pushing other investors to wait for the offer from Amazon.

• Air India case: Government has extended privatization process of Air India by a fortnight, extending the deadline to 31st May. It has also clarified certain issues raised by the potential bidders.

• Varun Laul, a former director at US fund – Providence Equity Partners, has been appointed MD of the technology-focused fund Zodius Capital Advisors, part of Avendus Capital.

*News as published in Business Standard, Live Mint and Economic Times.

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