Here are the Business Headlines as on 21st April 2017:
- After ‘rigorous performance appraisal’, Wipro sacks nearly 500 employees. The move comes even as Indian IT firms have reduced campus hiring.
- Finance Ministry approves 8.65% interest rate on EPF for 2016-17.
- Supreme Court Allows NDMC To Auction Hotel Taj Mansingh. Tata Group entity loses legal battle to get lease extension.
- Warburg In Lead To Buy Part Of Watsa’s ICICI Lombard Stake, slightly more than 25% valued at about $1billion.
- Online classifieds platform Quikr has expanded its Doorstep services to allow customers to buy and sell used goods across cities.
- Rs 1,000-crore capex plan for Hathway Cable. The company launches broadband services in Chennai.
- H-1B visas: India talks tough, signals it may hit back over US curbs.
- Future Retail to demerge home retail business, consolidate its offline and online home retail businesses under a single entity called Praxis Home Retail.
- US’ Conduent sues Cognizant for ‘Contract breach’, seeks damages of over $150 million.
- Future group will sell its products on rival online platforms Amazon and Bigbasket as it aims for Rs.20,000 Crore sales of own brands by 2021.
- Samara Capital, a mid market India-focussed private equity fund has bought out 100% of SMS, one of the largest facilities management company of India.
- Ola’s board approved the $100 million investment in March, four months after Ola infused $250 million that lowered the firm’s valuation to about $3 billion.
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