Today’s Business Headlines-29th March

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Here are the Business Headlines as on 29th March 2017:

Economic Times
  • Axis Bank and select NBFCs see a rally of stock in anticipation of Kotak Bank acquiring one of them.
  • Ajanta Pharma, Eicher Motors, PI Industries, Cera Sanitaryware and Natco Pharma have given returns of 47-67% on a compounded basis between fy 09 and fy17.
  • Snapdeal planning to reduce office space after layoffs to cut costs.
  • Government to borrow Rs.3.72 Lac Crore in a first half of the financial year 2018.
  • Amazon clinches a deal to buy the Middle East online retailer
Startup World
  • Sandeep Aggarwal, the founder of Droom & Shopclues has Rs.20 Crore for Private Investments. His favourite sectors are Healthcare, Technology, Retail and Data Science Application Development.
  • eSports Sector heating up with projections of $1.5b revenue by 2020.
  • Byju’s secures Rs.200 Crore funding from Verlinvest at Rs.4500 Crore valuation; shall invest in its international expansion and acquisition.
  • Online meat service startup, Licious, secures $10 million in series B.
  • Zoom Air – India’s Newest Airline – Aims High, In Talks to Raise Funds.
  • Revised GST legislation may pinch working capital of industries. It could put pressure on the working capital of industries and spark greater litigation in the coming years.
  • KKR and CPPIB, which have bought a stake in Airtel’s mobile towers firm Bharti Infratel , are likely to buy Idea Cellular’s stake in Indus Towers as well
  • Qatar Airways hastens India push, plans 100 new jets amid Modi’s aviation drive.
  • Tata ties-up with Alibaba to take Tetley tea to China.
  • India overtakes Japan as 3rd largest aviation market.
Business Standard
  • US-based hedge fund Tiger Global is in talks with Japanese investor SoftBank to sell a part of its stake in Flipkart in exchange for a merger of struggling rival Snapdeal with India’s largest e-commerce company.
  • FMCG cold war: HUL takes on Amul. Two giant brands get into a slugfest over the goodness of ice creams and frozen desserts.
  • Tractor maker Escorts plans cost cutting, to launch VRS for staff.
  • Indian Gold jewellery exports down 47% in February 2017 on account of lower offtake from Gulf.
  • GST to be levied on renting, EMI on under construction property from July 1, 2017.

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