Here are the India Business News Headlines as on 20th July 2017:
- Ola Fleet Technologies, fully owned subsidiary of ANI Technologies, signed loans of up to $1.4 billion (Rs 9,500 crore) as of the end of 2016, to lease cars to drivers on Ola’s platform and stay ahead of its rival Uber.
- Tata Group, is considering restructuring to streamline its IT and Infrastructure businesses and to bring them under TCS.
- Indigo is working to find ways to meet the 25% minimum public shareholding norms. The promoter shareholding in the company is currently 85.9% and needs to be brought down to 75% before November 2018 to become MPS-compliant.
- Gitanjali Jewels is reconfiguring its labels and organising them under a single identity under Nakshatra World.
- Tata Group also seem to be interested in Air India. It has informally sought details on government plans for Air India privatisation and how the airline’s debt and subsidiaries would be handled.
- Sumitomo Mitsui Trust Bank of Japan has sold its entire 2.77% stake in Reliance Capital for about Rs456 crore through open market transactions.Foreign investors, including Royal Bank of Scotland Plc, have purchased stake in the company.
- Bajaj Finance is planning to raise Rs4,500 crore via QIP over the next 2-3 months. Board approval for this has already been taken.
*News as published in Business Standard, Live Mint and Economic Times.