India News Headlines: Latest India Business News 29th May 2020

29 May 2020, 03:16 by Tentaran

Read Latest India Business News 29th May 2020:

Quote of the Day: “Today’s Accomplishments were yesterday’s impossibilities.” – Robert H Schuller

Barclays and Nomura scrutinize India’s back-offices after the world’s biggest lockdown in the country.
iXceed, an HR-Tech startup, expanded its portfolio by foraying into digital marketing services.

Experts said, amid economic disruption due to COVID-19, an outcome-based pricing model for new projects may just aid the survival of IT service providers.
Auto dealers may default on loans as they are staring at an uncertain future. This is because high levels of unsold inventory of BS-VI compliant vehicles are leading to an increase in interest cost, which most of them might not be able to repay.
Jet Airways received fresh EoIs from 11 investors ahead of deadline which ends on Thursday.

LIC is planning to invest Rs 2500-3000 crores in RIL’s rights issue.
The Delhi HC on Thursday granted RIL an interim injunction against OLX India and restrained it from publishing certain advertisements that allegedly cause harm to the company’s goodwill and reputation.
Paytm Mall has also begun discussions to make a potential investment in grocery delivery firms to boost its play in the delivery of essentials.
Daimler India Commercial Vehicles on Thursday said it signed a new MoU with the government of Tamil Nadu to invest Rs 2277 crores to expand its production capacity.
Global manufacturers including AstraZeneca, GlaxoSmithKline, Pfizer, and Johnson & Johnson on Thursday pledged to supply COVID-19 vaccines on a no-profit basis in order to improve access to any successful vaccine as and when it’s available in the market.
BookMyShow has laid off 18% of employees by furloughing 270 employees across its offices in India and globally.

Ceat reported a 19% drop in its Q4 consolidated profit at Rs 52 crores.
Nissan Motor has agreed to settle the dispute with Tamil Nadu after claiming that it was owed Rs 50 billion in unpaid dues and damages.
Mubadala Investment Co., an Abu Dhabi-based sovereign fund manager, is planning to make a potential investment for a $1 billion stake in RIL’s Jio Platforms.
Google Inc. is planning to pick a stake of around 5% in Vodafone Idea.
Federal Bank on Thursday reported a 21% drop in Q4 net profit to Rs 301 crores. The company also has 35% of the total loan under the 3-month moratorium and is planning to focus on preserving capital this year.
Pradip Burman sold off Sanat Products, his over 3-decade-old nutraceutical company to Willmar Schwabe India for an undisclosed amount.

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