Latest India Business News Headlines 4th July 2018

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Read latest India business news headlines 4th July 2018:

india business news headlines 4th july 2018

  • Tata Group is evaluating a proposal to merge its food and beverage businesses into a single company. The move is aimed at increasing efficiency and to simplify the group operations that include around 100 independent operating companies.


  • IFC has invested ₹640 crore in Mahindra and Mahindra Financial Services, which will enable growth for Mahindra by extending loans to farmers and enable them to buy vehicles, tractors and other equipment.


  • Zomato has hired Mohit Gupta, former COO MakeMyTrip, as CEO of its online food delivery business. Zomato witnessed exit of several senior executives in the recent past.


  • InCred gets RBI nod for wholesale lending business. It plans to begin wholesale lending from August and is in talks to raise fresh funding of around ₹600 crore for the same.


  • Fortis update – IHH Healthcare and TPG-Manipal are the only two bidders left for Fortis. Hero-Burman and Radiant Healthcare have opted out of the process. The binding bids will be evaluated by the board of directors in consultation with its advisors.


  • Anil Agarwal’s Volcan Investments is planning to acquire Anglo American Plc’s South African business by merging it with Vedanta Resources through a share swap. The merger, if goes through, will create an entity valued at about $7 billion.


  • Manappuram Finance has acquired an 85% stake in Indian School Finance Co. from existing impact investors Gray Matters Capital and Caspian. The deal values Indian School Finance Co., focussed on education sector lending, at ₹248.5 crore.


  • Automation Anywhere, a robotics process automation firm, has raised $250 million in a series A round led by New Enterprise Associates and Goldman Sachs. The funding values the company at $1.8 billion. RPA is a fast-evolving technology which uses bots to automate business processes.


  • MacroWagon Retail, one of Flipkart’s largest vendors, has sent a legal notice to Flipkart on non-payment of dues and damages of around Rs.20 Crores.


  • As per the details shared by Facebook, Airtel and Saavn had access to FB user data even after 2015. Airtel had said that the access ended in 2013.


  • Government’s flagship scheme to go paperless at airports has hit a hurdle as UIDAI has refused to share biometric data with the aviation authorities. The aviation authorities are now exploring other identity options.


  • Amazon is looking to leverage its Prime Now app in top four cities during its Prime Day sale to offer ultra-fast two-hour delivery. It will offer 200 new launches across categories during its Prime Day sales to be held on 16th and 17th July.


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