By Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee nudged higher on Friday, easing away from its all-time low after spending much of the week pinned near it, as persistent central bank defence of the currency spurred interbank dollar sales. The rupee closed at 88.6850 against the U.S. dollar, up from 88.7825 in the previous session. …
Rupee finds breathing room, aided by central bank defence of key level Read More »
NEW DELHI (Reuters) -India plans to open up its retail electricity market for private companies nationwide, ending the dominance of state-run distributors in most states, a draft bill by the federal power ministry showed on Friday. The move will allow private companies such as Adani Enterprises, Tata Power, Torrent Power and CESC to strengthen their …
By Praveen Paramasivam (Reuters) -Papa John’s International is placing India among its priority markets globally and tailoring its offerings to local tastes with its maiden majority-vegetarian menu, executives said, in a move the U.S. pizza chain expects will fuel long-term growth. The world’s third-largest pizza delivery company, which exited India in 2017 citing underperformance, has …
Papa John’s puts India on priority list with vegetarian fare, executives say Read More »
By Aditya Kalra NEW DELHI (Reuters) -A trustee of Tata Group’s charity arm has said its decision to vote him off the board of the $180-billion business empire it controls was “unprecedented” and signals a “different era”, in the biggest boardroom rift to shake India Inc in years. The discontent at Tata Trusts, a year …
Trustee of India’s Tata charity arm calls internal disagreements ‘unprecedented’ Read More »
By Bharath Rajeswaran and Rajendra Jadhav (Reuters) -Kotak Mahindra Asset Management Company’s suspension of lump-sum subscriptions in its silver exchange-traded fund-of-funds is “purely temporary” and likely to be lifted within the next couple of weeks as supply improves after the Hindu festival of Diwali, said Satish Dondapati, fund manager at the firm. The fund house …
India’s Kotak to lift silver ETF investment curbs in few weeks, exec says Read More »
By Kashish Tandon and Sai Ishwarbharath B BENGALURU (Reuters) -Tata Consultancy Services’ plan to invest up to $7 billion in a 1 gigawatt data centre unit in India has sparked cautious reactions, with some analysts flagging limited overlaps with its core IT services and potential pressure on returns. The move, which pushed TCS shares down …
TCS’s $7 billion India data centre bet raises questions over returns, fit Read More »
By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee’s fall to an all-time low has split analysts on what comes next for the South Asian currency. While some predict further weakness looming, strained by sluggish trade and portfolio flows, others reckon that the worst may be over as valuations turn supportive. The diverging …
Undervalued or still vulnerable? Indian rupee’s path splits analysts Read More »
By Dharamraj Dhutia and Khushi Malhotra MUMBAI (Reuters) -India’s Bharti Telecom, the holding company of Bharti Airtel, will launch the largest bond sale of the current fiscal year next week, aiming to raise funds at significantly lower rates than last year, according to three merchant bankers. The company is looking to raise 150 billion rupees …
India’s Bharti Telecom to open $1.7 billion mega bond issue next week, bankers say Read More »
By Nidhi Verma and Mohi Narayan NEW DELHI (Reuters) -Since late August, two or three trains of 50 tanker cars have been shipping fuel each day from Nayara Energy’s refinery on the coast of western India to inland depots – more than double its previous usage of railways to move diesel and petrol. Shut out …
Analysis-Sanctions-hit Nayara scrambles to sustain operations, with New Delhi’s help Read More »
(Reuters) -Dutch technology investor Prosus will buy a 10.1% stake in India’s Ixigo for 12.96 billion rupees ($146 million), the online travel booking platform said on Friday. Ixigo, formally known as Le Travenues Technology, will issue shares to Prosus on a preferential basis at 280 rupees per share – a 10.5% discount to Ixigo’s closing …
Prosus to buy 10% stake in Indian online travel agent Ixigo for $146 million Read More »
