India News Headlines: Latest India Business News 1st May 2020

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  • CEO of Gilead Sciences, Daniel O’Day said that the company might spend $1 billion on its breakthrough new treatment for Covid-19 in this year alone.
  • As a result of the world shifting to working and playing from home, Microsoft on Wednesday witnessed a sharp demand for its teams chat and online meeting app and Xbox gaming services.

latest india business news 1st may 2020

  • The CCI on Thursday said it cleared BP’s 49% investment in Reliance Industries’ fuel retailing business which was announced last year.
  • E-commerce companies Amazon and Snapdeal disagreed with the annual list of ‘Notorious Markets for Counterfeiting and Piracy’ issued by the office of the U.S. Trade Representative’s (USTR) on Wednesday.
  • Rajiv Bajaj, Managing Director, Stratasys India and SEA said that the company, along with other 3D printing firms and institutes will work to fulfil requirements of face masks, PPE, and ventilators with whatever limited resources and manpower they have.

Must Read: Today News Headlines 1st May 2020 

Latest India Business News 1st May 2020

  • As the company aims at wiping off its massive debt, Reliance Industries is now planning to raise around Rs 53215 crores by selling shares to existing investors. If this goes through, this will be the biggest fundraising by any company in India.
  • In spite the covid-19 crisis and lockdowns, Saudi Aramco’s planned investment in Reliance Industries’ oil to chemicals (O2C) business is on track.
  • Reliance Industries reported a consolidated profit of Rs 6348 crores for the March quarter. With this, the company registered a decline of 45.5% quarter-on-quarter and 38.7% year on year.
  • Rilance Jio Infocomm posted a net profit of Rs 2331 crores for the March quarter.
  • Tech Mahindra on Thursday reported a consolidated net profit of Rs 804 crores for the March quarter. Its Profit after Tax saw a 30% drop.
  • Consultancy firm, Ernst & Young on Thursday reported that Indian car makers will need to focus on developing digital platforms for post-pandemic sales.
  • CavinKare on Thursday announced the launch of Bacto-V, a disinfectant brand, for cleaning and sanitising gadgets and high-touch surfaces.

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Latest India Business News 1st May 2020

  • Mukesh Ambani will forgo his annual salary as RIL unveiled measures to cut costs as the covid-19 outbreak saps oil demand.
  • Mondelez India will be launching a limited edition of Cadbury Dairy Milk bars by replacing the brand’s logo with ‘Thank You’ to highlight the country’s spirit and generosity amid the covid-19 crisis.
  • HUL reported a decline in its fiscal fourth quarter’ profitability and volumes due to the outbreak of the coronavirus.
  • Twitter has more users than ever but its advertising business was hit hard by Covid-19’ impact.
  • SpiceJet on Thursday said the company will pay a part of April salaries to over 92% of its employees.
  • Hexaware Technologies said the company has given payment concessions to a few clients due to the global lockdown.
  • BMW on Thursday rolled out an exclusive aftersales service scheme for doctors who own a BMW, MINI or a BMW Motorrad bike and have been working round-the-clock to fight the Coronavirus.
  • Air India estimates its flight services to resume after two weeks.

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