Tatas rule out immediate plan to sell assets to shore up finances

Tata Sons said the group is well-capitalized and prepared to take on the challenges posed by the lockdown

L&T, SBI cautious on recovery

A realistic assessment of the situation would only be possible after another three months, the SBI chief said

Mubadala, Silver Lake acquire Jio Platforms stakes  for   ₹13,640 crore

The Silver Lake and Mubadala deals give Jio an equity value of ₹4.91 tn and an enterprise value of ₹5.16 tn

Sebi paves way for financial innovations through sandboxes

• Firms who wish to participate in the so-called regulatory sandbox would need to fulfill certain criteria
• The firms would need to prove that proposed idea is innovative and adds significant value to the existing offering in the Indian securities market and should have a genuine need for live testing the solution on real customers

Tata Power looks to raise ₹2,000 crore through rights issue

Tata Power has appointed investment bank Kotak Mahindra Capital to start work on the rights issue

Greaves Cotton Q4 revenues down 32% YoY

• Profit after tax (PAT) for the last fiscal stood at ₹148 crore, down 12% YoY from ₹169 crore
• Total revenues from the engine segment were at ₹331 crore for Q4FY20, down 33% YoY from ₹492 crore from year-ago period

Sun Pharma begins phase 2 trial of potential covid-19 drug

The clinical trial will be conducted on 210 subjects across 12 centres in India for a duration of 10 days, the results of which are expected in October

Second mega Jio deal in a day: Silver Lake to invest additional ₹4,547 crore

• Aggregate investment by Silver Lake in the telecom major is now ₹10,202.5 cr for 2.08% equity
• Earlier on Friday, RIL announcedthe sale of 1.85% stake in Jio Platforms to Abu Dhabi-based sovereign investor Mubadala for ₹9,093.6 cr

WeWork India to get $100 million funding from New York-based parent

The fund infusion is a reinforcement of potential in co-working space and India’s ability to attract global capital

Ikea's Hyderabad store reopens from June 8

Ikea India will be reopening its store in Hyderabad from June 8 with strict and strong measures in place to ensure safety of visitors, the Swedish furniture maker said

WeWork Global to invest $100 million in India business

The fresh round of capital from our long-term partners at WeWork Global represents a vote of confidence in our strategy and will help us serve our community better, WeWork India CEO Karan Virwani said

L&T Q4 net profit dips 6% to ₹3,197 cr, announces dividend of ₹8/share

• However, the company's consolidated revenue from operations increased by 2% to ₹44,245 crore
• Consolidated order book of the group stood at ₹3,03,857 crore at March-end

Zomato scales back grocery as food delivery recovers

• As the company builds back its core business, grocery will exist, but as a peripheral business
• During the covid-19 induced lockdown, food aggregators witnessed a 60-70% slump in food deliveries

Health-focused PE firm InvAsent invests ₹70 crore in eye care chain Sharp Sigh

• This marks the 5th investment out of InvAscent's third fund, India Life Sciences Fund III, which has raised $250 million and began investing in November 2018

Ninjacart to help users trace fresh goods from farm to home through FoodPrint

• The next step to add to the traceability would be FarmPrint and ResiduePrint, said Ninjacart
• Ninjacart’s FoodPrint traces right from, who is the farmer, when was the food was harvested, the truck that carried the produce

Tata Sons not looking to monetise assets to raise capital

• Tata Sons is in strong financial position with adequate cash flows to support the group companies and new growth initiatives
• The group is well poised to capture new opportunities and is focused on navigating the current situation and profitable growth, it said

Tata Sons not looking to monetise investments to raise capital: N Chandrasekaran

Tata Sons is in a strong financial position with adequate cash flows to support group companies and new growth initiatives, the firm's chairman N Chandrasekaran said

Apple suppliers developing OLED displays with low power consumption

• Apple's supply chain partners are reportedly developing new OLED displays for the 2021 iPhones with low-power tech
• Meanwhile, Apple is expected to launch four new iPhones under the iPhone 12 series in September

Ola to invest ₹500 crores in safety intiatives to fight covid-19

• Ola has set up a network of over 500 fumigation centres across the country at various hotspots and airports, to enable mandatory fumigation for all vehicles every 48 hours

Google assigns Prabhakar Raghavan as head of Search, Assistant

• Google has announced to make Prabhakar Raghavan, head of Ads and Commerce, as new head of Search and Assistant
• Search encompasses News, Discover, Podcasts and Google Assistant