Here are the Business Headlines as on 18th April 2017:
- SC orders Amby Valley sell-off, summons Subrata Roy. Directs liquidator of Bombay High Court to prepare valuation in 10 days.
- Qatar Airways plans fierce expansion in India to beat Gulf rivals.Enhancement of capacity entitlements from 24,292 seats per week to 66,374 seats.
- TCS shareholders approve Rs 16,000-crore share buyback.Buyback programme saw 99.81% of the total number of valid votes being cast in favour of the proposal.
- Pharmaceutical major Wockhardt plans to produce or manufacture antibiotics and new drugs for the US market at third-party facilities and its new manufacturing plant in Dubai. This would help it reduce risk and tap opportunities worth billions of dollars.
- Govt considers payment gateway before widening Google Tax net. Levy is aimed at firms which earn ad revenue in India but do not pay income tax in the country.
- With Kenyan tea prices shooting up by 25 per cent at $2.92 a kilo in last month’s auction, the Indian tea industry can look ahead to increase its exports with a competitive edge, offering tea at an average price of $1.8 a kilo. However, the strong rupee and concern over production might play spoilsport.
- Strong support at Nifty 9,120-9,150 range. As of now, the record high is at 9,273 and the most recent support was at 9,120.
- Economy to grow 7.2% in FY18; GST to have positive impact: World Bank.
- ED notices to Vasan Health Care, Karti Chidambaram for FEMA breach. In 2015, IT department and ED officials swooped on many firms owned by Karti.
- Stayzilla founder says will clear name on Jigsaw charge. Jigsaw Advertising and Solutions complained that dues of Rs 1.69 cr were not being paid by Stayzilla.
- Daiichi protests Singhs’ Religare Health Insurance stake sale in court. Claims they violated order to inform court about transactions of their unencumbered assets.NCLT dismisses Mistry firms’ waiver petition against Tata Sons
Mistry alleged mismanagement and oppression of minority shareholders at Tata Sons Ltd.
- Aditya Birla Idea Payments Bank to open first branch by first half of 2017. Aditya Birla Idea Payments Bank is a 51:49 joint venture between Aditya Birla Nuvo and telecom major Idea Cellular.
- Capacit’e Infraprojects files for Rs400 crore IPO. Capacit’e Infraprojects to use IPO proceeds for working capital requirements, purchase of capital assets and general corporate purposes.
- Telecom Tower workforce under threat of job loss in view of sector consolidation and mounting debt.
- Dentsu Aegis buys SVG Media for USD 110-125 million.
- Aon Hewitt ties up with IIM-Bangalore for Human Resource programme.
- UIDAI CEO, Ajay Bhushan Pandey, claims that Bhim Aadhar is more secure than any Debit/Credit card.
- Whodat Tech raises $600,000 from Ideaspring Capital. Whodat Tech will use the funds for research and development, and team expansion.
- AI start-up Innefu Labs raises $2 million from IndiaNivesh. It will invest the funds raised from IndiaNivesh in product and technology development, team expansion and overseas launches.
- Absentia VR raises Rs8 crore from Exfinity Venture. The round saw participation from Sprout Venture Partners and Krishnamoorthy Ananthasivam, a former vice-president at Infosys.
- India Accelerator, Gurgaon based incubation program for early stage technology startups, gets into GAN as the 1st entry from India.
- 50K Ventures, an early stage venture capital firm, sets aside USD 1 million for startups in AI, VR, IOT and Robotics, etc.
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