Business news headlines: Latest India business news today 17 November 2020
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Read the latest India business news today 17 November 2020.
- The government has said that several local and foreign investors have expressed interest in buying its 52.98% stake in Bharat Petroleum. However, Reliance Industries and Aramco, which were considered the front-runners, have not submitted their interests.
- Lenders to Dewan Housing Finance Corp. may call for fresh bids after the Adani group unexpectedly offered a higher price for the company’s assets.
- Vodafone Idea added 4.6 million mobile broadband subscribers in August 2020, the highest among all telcos. However, the company’s debt situation remains grim.
- Automakers like Tata Motors and Toyota Kirloskar Motors have reported good growth in bookings and retail deliveries during Dhanteras this year in comparison to 2019. Tata Motors saw a 95% jump in retail sales, Toyota Kirloskar saw a 12% growth in retail sales.
- National Anti-profiteering Authority has ordered two developers to cut prices of flats to pass on the profiteered amount due to a reduction in GST in 2017 to buyers with 18% interest within November.
- As per industry analysts, Royal Enfield may continue to retain its pole position in India’s market for retro-style mid-sized motorcycles despite challenges from rivals like Honda Motor and Jawa Motorcycles.
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Latest india business news today 17 November 2020 – business news headlines today
- According to a LocalCircles survey, 71% of local consumers did not purchase goods that carried a ‘Made in China’ tag during this Diwali period.
- JSW Steel gets LoI for the acquisition of Bhushan Power & Steel. It is one of the 12 cases mandated by RBI to be resolved under IBC.
- As the nodal points in a buyer’s purchase journey turn digital, auto brands are looking at ways to connect with the customers digitally to get engagements and create lifelong associations.
- Indigo Paints has filed preliminary papers with Sebi to raise around Rs.1,000 crores through IPO.
- The government has said that it will not sign free trade agreements which in reality were “trade deals with China by stealth”.
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Latest india business news today 17 November 2020 – business news headlines today
- Essar Steel is reportedly in a tight spot for failing to develop 1262 acres of land at Paradip where it initially proposed a 6M tonne greenfield steel mill.
- HDFC AMC has named Navneet Munot to be its new MD & CEO.
- Munot is currently CIO at SBI Mutual Fund and will succeed Milind Barve. The average asset under management at HDFC AMC stood at ₹3.75 lakh crores.
- Ahead of its stake sale, the Finance Ministry has invited bids from actuarial firms for arriving at the embedded value of LIC.
- EY India has acquired Spotmentor Technologies, an AI-powered skilling platform to help businesses identify skills required for the future of work and upskill and reskill talent at scale, for an undisclosed amount.
- Baba Ramdev has reportedly said that Ruchi Soya will launch a follow-on PO in 2021 to bring down promoters’ shareholding in the company.
- Amazon India has launched a performance-based benefits program called ‘STEP’ to help sellers accelerate their growth. Benefits include fee waivers, faster disbursement cycles, priority seller support, and free account management.
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