Latest India Business News Headlines 4 March 2019 Updates

Latest India Business News Headlines 4 March 2019 Updates

  • ShareChat is in discussions with Tencent Holdings and others for raising around $200 million in funding at a valuation of $600-700 million.
  • 2 more planes of Jet Airways have been grounded taking the total number of grounded planes to 23, which is almost 20% of its total fleet.

Latest India Business News Headlines 4 March 2019 Updates

  • L&T shall rope in an external expert to investigate if any illegal payments were made by any of its employees on behalf of Cognizant. Cognizant reportedly routed $3.64 million through L&T for bribes to officials in Maharashtra and Tamil Nadu.

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  • SpiceJet shall start 10 new UDAN flights between 31 March and 15 April. Eight of these will connect Gwalior to different cities while two will fly on Bhopal-Udaipur route.
  • Nivaan Goyal, son of Naresh Goyal is likely to be named the executive director of Jet Airways. Nivaan has been leading negotiations with lenders for Jet Airways bailout. His appointment has the backing of lenders of Jet Airways and Etihad as SBI doesn’t want to deal with Etihad on its own.
  • DailyNinja is in early talks to raise fresh funding of around $18-20 million.
  • Banks need to lend Rs.1 Lakh Crore more before March 31, 2019, to meet the MUDRA target of Rs.3 Lakh crore set for fy 18-19.
  • California Burrito is planning to open 15 more restaurants by the end of 2019. It already operates 31 restaurants in Bengaluru and Delhi NCR.
  • As per the data released by DIPP, there was FDI equity inflow of Rs.57,333 crores to companies based in New Delhi in the first 9 months of fy19.
  • Pepperfry is planning to invest around $12 million on expansion and improving its supply chain pipeline.
  • The government has approved an Rs.14000 Crore SEZ project of Adani Power in Jharkhand.
  • Razorpay is in talks with Sequoia for raising fresh funding of $100 million. The deal may value the firm at around $450 million.

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