Business, Companies, 13th Aug 2019, News & Stories from India

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Business Companies 13 Aug 2019

Business, Companies, 13 Aug 2019

Reliance Industries chairman Mukesh Ambani on Monday announced plans to sell stakes in the firm's oil and chemicals business to Saudi oil giant Aramco.

RIL soars 10 pc, m-cap surges by Rs 71,638 cr after a slew of pro-investor announcements

The oil-to-telecom giant saw its scrip jump 9.72 per cent to close at Rs 1,275 on the BSE.

13 Aug 2019 8:35 PM

The panel, headed by Corporate Affairs Secretary Injeti Srinivas, has stressed that CSR expenditure should not be treated as a means of resource gap funding for government schemes. (Photo: Representational | Pixabay)

Govt-constituted panel suggests making CSR non-compliance civil offence

Companies having CSR prescribed amount below Rs 50 lakh can be exempted from the need of constituting a CSR committee, as per the report.

13 Aug 2019 8:24 PM

A total of 23 banks, including public sector, private sector, foreign and small finance banks, representing over 67 per cent of the banking industry, participated in the survey. (Representational Image)

Banks report reduction in NPA; seek steps to address stress in NBFCs: Survey

Participating banks suggested that government should simplify GST framework and lower GST rates to enhance tax compliance.

13 Aug 2019 6:35 PM

Amazon already has stake in Shoppers Stop and More. Future Retail would be Amazon's third investment in the Indian brick-and-mortar retail ecosystem. (Photo: Representational image/AP)

Amazon in advanced talks to buy 8-10 per cent stake in Future Retail

The deal with the Future Retail is expected to close in the next few weeks, sources close to the development said.

13 Aug 2019 5:18 PM

The data shows how urgent the need is for revival package from the government. There is urgent need for some kind do action, said SIAM Director General Vishnu Mathur.

Auto sales in India sees sharpest fall 19 yrs in July; 15,000 workers lose jobs

Domestic PV sales also saw the biggest fall in nearly 19 years, slumping by 30.98 pc to 2,00,790 units.

13 Aug 2019 3:15 PM

Former Indian cricket captain Mahendra Singh Dhoni.

Former Indian cricket captain MS Dhoni invests in CARS24

CARS24 is among the largest platforms for buying and selling cars in the country.

13 Aug 2019 2:48 PM

The twin deals along with deleveraging of telecom arm Jio's infrastructure assets will help Reliance become "a zero-net debt company within the next 18 months, that is by March 31, 2021, Reliance Industries chairman Mukesh Ambani said at the company's annual general meeting.

RIL shares zoom to decade high after company announces plan to turn debt-free

The scrip opened the day on a bullish note and jumped 12.09 per cent to Rs 1,302.50 on the BSE.

13 Aug 2019 12:57 PM

Ambani on Monday announced the roll-out of Jio Fiber from September 5, promising free voice calls for life from landlines. (Photo: AFP)

Jio's First Day First Show scare, multiplex players express confidence in theatre biz

Jio First Day First Show - customers would be able to watch movies in their living rooms on the release day itself.

13 Aug 2019 12:42 PM

Allianz Real Estate, acting on behalf of several Allianz companies, has committed USD 150 million to a closed-end office development platform managed by the Godrej Group, Munich-based Allianz group said in a statement. (Photo: Representational)

Allianz to invest USD 150 mn in office development platform managed by Godrej

The platform, Godrej BTC (GBTC I), targets the development of premium Grade-A offices in tier one cities in India.

13 Aug 2019 12:22 PM

India's agriculture sector is advancing steadily towards its digital transformation and the startup ecosystem is playing a critical role here, bringing innovation and disruption in much-needed areas, Nasscom President Debjani Ghosh said. (Photo: Representational: Pexels)

Over 450 agri-tech startups receive USD 248 mn funding in H1 2019: Nasscom

More than 50 per cent of agri-tech startups offer supply chain solutions like market linkage, better access to inputs etc.

13 Aug 2019 11:44 AM

In the last four months alone, the company has outstripped the total business done in the previous year.

University Living registers a 300 pc growth in its global business in FY 2019

The company has established a robust global presence in more than 180 international cities across markets.

13 Aug 2019 9:05 AM

Reliance Retail has crossed Rs 130,000-crore turnover and is four times larger than the second largest retail player. (Photo: PTI)

Reliance Retail may get global partner

The New Commerce, or Reliance’s omni-channel, proposes to partner with millions of small merchants and kirana shops.

13 Aug 2019 1:46 AM

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Farrukh Dhondy