Here are the Business Headlines as on 18th May 2017:
- Infosys, will maintain its annual campus hiring at 20,000 this year, but is looking at engineers with skills like digital and analytics due to increase in demand for digital technology-based services.
- Apple has started trial run for getting iPhone manufactured in India with Wistron in Bangalore.
- Flipkart-Snapdeal merger : After its merger with Flipkart, Snapdeal brand could no longer exist. The companies owned by the Jasper Infotech, the parent company of Snapdeal, like FreeCharge may also meet the same fate.
- Paytm is all set to launch its payments bank on May 23 under the leadership of Renu Satti, currently vice-president at Paytm.
- Toro Finserve, the first fund focused on putting money on infrastructure for hospitals and diagnostic companies in the country, is raising a $500-million fund to invest in real estate for health care enterprises.
- Lighthouse Funds LLC, a mid-market private equity investor focused on the Indian consumer sector, has invested Rs51 crore in Stylam Industries Ltd, a laminate manufacturer having a revenue of Rs.250 crore in fy 15-16.
- L&T Tech plans to hire 2,500 this year across various verticals while its rivals like Wipro and Cognizant are laying off employees.
- Esprit, which had exited Indian operations 4 years back, is looking to open brick-and-mortar stores in India in the wake of India’s growth story.They may also be looking for associates for opening Esprit Branded retail stores.
- Shoppers Stop is working towards building a stronger online presence on the back of private labels and exclusive brands in view of the slowing sales growth in their retail chains.
- The management at Ola cabs, owned by ANI Technologies Pvt. Ltd., has modified the Articles of Association which makes it compulsory to seek approval of Ola’s founders as well as the consent of the company’s board if the current 30% stakeholder SoftBank or its associates wish to buy any shares from any other shareholder.
- PaySense, a Fintech startup involved in Digital credit to individuals, has raised $5.3 million in its series A round led by Jungle Ventures & Nexus Venture Partners.