Reuters India Business Archives - Page 1072 of 1191

India’s Dish TV falls 10% as shareholders reject results, auditor appointment

27 Sep 2022 27 Sep 2022

By Sethuraman N R BENGALURU (Reuters) -Shares of Dish TV fell as much as 10% on Tuesday, a day after shareholders of the broadcast satellite service provider rejected audited statements for the last two fiscals, appointments of a new auditor and an independent director. The shareholders rejected appointments of Rakesh Mohan as an independent director …

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Oil prices slide $2/bbl; settle at 9-month lows on dollar strength

26 Sep 2022 26 Sep 2022

By Laura Sanicola (Reuters) – Oil prices fell $2 a barrel on Monday, settling at nine-month lows in choppy trade, pressured by a strengthening dollar as market participants awaited details on new sanctions on Russia. Brent crude futures for November settled down $2.09, or 2.4%, to $84.06 a barrel, plunging below levels reached on January …

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Gold hovers near 2-1/2-year low on interest rate fears

26 Sep 2022 26 Sep 2022

By Arundhati Sarkar (Reuters) – Gold prices hovered near a 2-1/2-year low on Monday, on higher Treasury yields and a stronger dollar, while jitters over rising U.S. interest rates dented appeal for non-yielding bullion. Spot gold fell 1.2% to $1,623.79 per ounce by 2:35 p.m. EDT (1835 GMT), after dropping to $1,620.85, its lowest price …

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Apple says it will manufacture iPhone 14 in India

26 Sep 2022 26 Sep 2022

NEW DELHI (Reuters) -Apple Inc said on Monday it will manufacture its latest iPhone 14 in India, as the tech giant moves some of its production away from China. The company launched the flagship iPhone 14 at an event earlier this month, where it focused on safety upgrades rather than flashy new technical specifications, with …

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Exclusive-India’s push for home-grown navigation system jolts smartphone giants

26 Sep 2022 26 Sep 2022

By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – India is pushing tech giants to make smartphones compatible with its home-grown navigation system within months, worrying the likes of Samsung, Xiaomi and Apple who fear elevated costs and disruptions as the move requires hardware changes, according to two industry sources and government documents seen …

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Explainer-NavIC, India’s home-grown alternative to the GPS navigation system

26 Sep 2022 26 Sep 2022

By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – The Indian government is pushing smartphone makers to enable support for its NavIC navigation system in new devices sold in the country from next year, a move that has spooked the industry due to additional costs and tight time frame. Below are the details of …

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India’s Harsha Engineers International surges 47% in market debut

26 Sep 2022 26 Sep 2022

BENGALURU (Reuters) -Shares of India’s Harsha Engineers International defied a weak broader market to jump as much as 47.4% in their debut on Monday, following strong investor interest for the precision products maker’s $93 million IPO. The company, which makes and sells bearing cages used in cars, railways and planes, saw its shares rise to …

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Indian rupee may sink to 82.50 on towering dollar, funding gap – IDFC

26 Sep 2022 26 Sep 2022

MUMBAI (Reuters) – The Indian rupee could decline to 82.50 against the dollar by March, driven by the greenback’s surge and the country’s balance of payment deficit, IDFC First Bank said in a research note. The rupee on Monday dropped to a record low of 81.5775 as the dollar index raced to its highest level …

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Fisker to sell electric SUV in India with view to local production

26 Sep 2022 26 Sep 2022

By Aditi Shah NEW DELHI (Reuters) -U.S. startup Fisker Inc will begin selling its Ocean electric sport-utility vehicle (SUV) in India next July and could begin manufacturing its cars locally within a few years, the company’s chief executive officer told Reuters. Sales of electric cars in India will gather pace by 2025-26, Henrik Fisker said …

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Oil India sees ‘healthy’ profit in September qtr despite windfall tax

24 Sep 2022 24 Sep 2022

NEW DELHI (Reuters) – Oil India Ltd is expecting a “healthy profit” for the quarter ending Sept. 30 despite a levy of windfall tax on crude sales, Harish Madhav, head of finance at India’s state-run oil producer, said on Saturday. India imposed a windfall tax on oil producers in July amid claims the industry was …

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