Business news India: Latest India business news headlines today 12 May 2021
Here’s today business news, the latest business news India today 12 May 2021.
- KFin Technologies, a General Atlantic-backed registrar and transfer agency, is said to have acquired a 17% stake in Artivatic. ai, an insurtech startup, for an undisclosed amount.
- YouTube announced to have created ‘YouTube Shorts Fund’, a $100 million fund to reward content creators who make hit videos on its new short-form video feature Shorts.
- Hyundai Motor India has commenced an annual maintenance shutdown at its manufacturing facility in Chennai for six days from May 10.
- NBCC is said to have submitted a revised bid for Jaypee Infratech.
- Nextbillion Technology, the parent firm of Groww, is said to have entered into a definitive agreement with Indiabulls Housing Finance for acquiring MF business of its subsidiaries Indiabulls Asset Management and Indiabulls Trustee Company for Rs.175 crores.
- Flipkart is reported to be planning to open five new fulfillment centres over the next three months.
- Medi Assist Healthcare Services is reported to have filed a draft red herring prospectus with Sebi for an IPO.
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- NCLT’s Ahmedabad branch is reported to have admitted an insolvency petition against Sintex Industries, a textile firm after it failed to pay over Rs.7000 crores to a group of creditors led by PNB.
- HUL’s Sudhir Sitapati will be joining Godrej Consumer as MD & CEO.
- Yes Bank is said to have appointed Indranil Pan as its chief economist. Pan joins from IDFC First Bank.
- Delhi international airport will shut down terminal T2 from May 17 midnight due to the reduced number of flights. All flights will be operated from T3 only.
- Delhi High Court has directed that ATCs and 5% of pilots, cabin crew on duty will undergo random breath analyzer test.
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- McDonald’s India- North & East announced to have appointed Rajeev Ranjan as COO and Rajeev Goel as CFO.
- HUL is airlifting 4000 oxygen concentrators into India and is partnering with KVN Foundation and Portea Medial to distribute them to needy patients.
- Bharat Biotech tweeted that they have been supplying Covaxin directly to 18 states since May 1.
- Dr Reddy’s Laboratories is said to have entered into a licensing agreement with Eli Lilly and Company to produce Baricitinib in India for COVID-19 treatment.
- Andhra Pradesh Mineral Development Corporation said to have contributed Rs.100 crores to CM Relief Fund towards COVID-19 containment measures.
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