Today’s Business Headlines – 2nd May 2017 –

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Here are the Business Headlines as on 2nd May 2017 :

Business Standard

  • In view of restricted H1B visa, Infosys has announced plans to open four technology centres in US and hire 1000 Americans over the next two years.
  • The board of Snapdeal is expected to meet on today to discuss its potential sale to Flipkart. SoftBank has succeeded in getting Kalaari to agree but is yet to get NVP on board for the deal.
  • Reliance Industry has moved SAT against SEBI order asking them to pay Rs.447 crore with interest since Nov.2007. Reliance Industry had sold a large stock of its shares in Reliance Petrochemical in cash leading to drop in stock prices of RPL. Sebi has also barred RIL from dealing in F&O segment.


  • The Xander Group Inc. and Dutch pension fund asset manager APG Asset Management NV have bought an IT special economic zone (SEZ) in South Chennai for around $350 million from a joint venture of Shriram Properties’ and Infrastructure Pvt. Ltd and private equity fund SUN-AREA Property Partners.
  • Reliance Jio has filed a complaint with Trai against Airtel offers and ads saying this is discriminatory and misleading.

Startup World

  • Logistics start-up Fortigo has raised $10 million in Series A funding from Accel Partners and Infosys co-founder Nandan Nilekani.
  • Venture debt provider Trifecta Capital expects to hit the final close of its maiden fund Trifecta Venture Debt Fund I at around Rs500 crore by the end of this quarter.Trifecta is the only venture debt provider in India structured as an alternative investment fund.
  • Innovapptive, an Enterprise Mobile software startup, has raised $1.5 million from Hyderabad Angels. They plan to use funds to scale its sales and marketing teams, accelerate product innovation and expand customer acquisition.

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