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Business news in brief from India: June 27

Mahindra and Mahindra Group chairman and managing director Anand Mahindra (Photo by PUNIT PARANJPE/AFP via Getty Images)

By: Shubham Ghosh

HERE are some business news in brief from or related to India on Monday, June 27, 2022:

Indian automaker Mahindra launches much-awaited SUV Scorpio N: Mahindra on Monday (27) launched the new generation model of Scorpio, one of its most popular SUVs. Rechristened as Scorpio N, bookings for the new car will officially open from July 30, 2022. Deliveries are expected to start in the festive season. The price starts from Rs 11.99 lakh.

Zomato slips six per cent after board approves acquisition of Blinkit for Rs 4,447 crore: Indian food aggregator company Zomato’s shares dipped six per cent to Rs 66.50 on the National Stock Exchange (NSE) in Monday’s intra-day trade, after its board approved the acquisition of quick-commerce company Blinkit for Rs 4,447 crore in an all-stock deal.

Leaders from academia, government bodies and industry discuss radical shift in business landscape: Leaders from academia, industry, and the government on Monday (27) exchanged views on the radical shift in the business landscape and the role played by higher education institutions in making students ready for the digital world. This happened at an event organised by UPES School of Business and Runway incubator, in collaboration with major Indian daily — The Times of India, reported ANI/Mediawire.

India’s gig workers to top 23 million by 2029-30, says Niti Aayog: India’s gig economy is expected to employ 7.7 million people and is set to nearly triple to 23.5 million by 2029-30, a new report by the country’s government think tank NITI Aayog said on Monday.

Indian banks to post larger increase in margins, says Moody’s: Credit rating body Moody’s Investors Service on Monday (27) said banks in India, Saudi Arabia and South Africa would post larger increases in margins in FY23, Indo-Asian News Service reported. The agency said the hike in policy rates in many G20 emerging markets to reduce inflation will improve the banks’ margins.

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