Latest India Business News headlines 7th May 2019
- Bharti Airtel and Hughes Communications India have entered into an agreement to combine their VSAT operations in India, subject to approval from the relevant authorities.
- Tiger Global is in talks to buy a significant minority stake in Sirion Labs, a SaaS provider. Sirion Labs helps large enterprises manage outsourcing and procurement services and provides contract management software.
- As per an ICRA report, there were M&A transactions in the health sector to the tune of Rs.7615 Crores in FY19, highest in over five years.
- Mastercard will invest $ 1 billion in India over the next five years.
- McDonald’s and Vikram Bakshi have told NCLAT that they are working on an out-of-court settlement to end their dispute.
- BookMyShow has entered into a five-year partnership with Dubai’s Coca-Cola Arena, the biggest multipurpose indoor arena of Dubai. BookMyShow will deliver international content and will sell tickets to all live events of the arena across UAE.
- Ratan Tata has invested an undisclosed amount in the electric vehicle business of Ola.
- Stanza Living, a student accommodation service provider, has entered Bengaluru with 5,000 beds. It plans to hit 1 lakh beds across India by the end of 2021. The company’s revenue stood at ₹20 crore in 2018-19.
- L&T bought over 0.75 percent shares of Mindtree worth Rs.112.91 crores from the open market. It is reportedly planning to keep buying more shares to get a controlling stake in Mindtree.
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- Representatives of over 100 US companies are visiting India to explore business opportunities. The tour is part of US Deptt. of Commerce’s annual trade mission program.
- Ambuja Cements have filed a complaint against a fake website being used to trick customers and get funds to a benami account from customers looking to buy online.
- Curefit has received a funding of $75 million from Anand Piramal, Accel Growth, Kalaar Capital and IDG Ventures. The company is valued at over $500 million.
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