Business news headlines: Latest India business news today 12 November 2020

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Read the latest India business news today 12 November 2020.

  • Air India is planning to raise around Rs.6,150 crores through a short-term loan from domestic lenders within this month.
  • M M Murugappan, Chairman of the Murugappa Group, has stepped down from two of the group entities, Tube and Cholamandalam Investments, to pursue philanthropy and other interests.

latest india business news 12th november 2020

  • Kapil Wadhawan, the erstwhile promoter of DHFL, has sought a second hearing from the lenders to reconsider his resolution proposal submitted last month stating revised bids for DHFL received from prospective investors being ‘abysmally low’.
  • Mogaé Consultants, a Marketing and advertising firm, has announced a 50/50 JV with VERSA, the Australian voice and digital agency helping brands build conversational AI solutions.
  • SpiceJet has reportedly told stock exchanges that the airlines is in negotiations with lenders for deferment of dues and other waivers. As of 30 Sept.’20, its negative net worth stands at Rs.2,285 crores.
  • The board of NDMC has approved a share buyback proposal of up to Rs.1,378 crores.
  • HPCL will invest Rs.10,000 crores over the next five years to create an end-to-end natural gas value chain.
  • The union cabinet has approved a proposal to offer incentives to the tune of as much as ₹1.45 trillion to persuade global companies to set up factories in India in 10 sectors, including automobiles, drugs, and textiles.
  • TCS has announced the acquisition of Postbank Systems AG, the technology services unit of Deutsche Bank AG for an undisclosed amount.

Must Read: 12 November in Indian history

Latest India business news today 12 November 2020 – business news headlines today

  • FrontRow, a creative arts and sports focussed learning and community platform, has raised $3.2 million in a seed funding round led by Lightspeed and Elevation Partners, along with actor Deepika Padukone’s family office.
  • The government has said that from now on all content on OTT platforms like Netflix, Amazon Prime, and others, as also digital news sites will come under the purview of the Ministry of Information & Broadcasting.
  • DGCA has allowed airlines to increase the total number of flights to up to 70% of the pre-COVID levels. The capacity allowed earlier was up to 60%.
  • NCLT has directed ArcelorMittal to pay Rs.1,300 crores to Odisha Slurry Pipeline Infrastructure for using their assets, a slurry pipeline, to run Essar Steel.
  • AirAsia will be starting a daily flight on the Goa-Hyderabad route from November 18.

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Latest India business news today 12 November 2020 – business news headlines today

  • The government has made e-invoicing for B2C transactions mandatory for companies with an annual turnover of at least Rs 100 crores from January 2021. The transaction value currently is at least Rs.500 crores.
  • ICICI Bank has said that its mortgage loan portfolio has surpassed Rs.2 trillion, making it the first private sector bank in India to achieve the feat.
  • ITC has launched over a dozen new products in the chocolate segment to grab a bigger bite of the Rs.11000 crore segment.
  • Qatar has opened its property market to foreigners with a scheme giving those purchasing homes or stores the right to call the country home.
  • Paytm has partnered Uber India to extend its postpaid service to riders.

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