NEW DELHI (Reuters) -Cement maker ACC Ltd said on Friday that Karan Adani, son of India’s richest man Gautam Adani, was named chairman of its board, as the Adani conglomerate expands its presence beyond power generation and infrastructure. Gautam Adani, who has a net worth of $152.6 billion according to Forbes, is currently ranked third …
Indian tycoon Gautam Adani elevates son to chairman of cement maker ACC Read More »
BENGALURU (Reuters) -Indian pharmaceutical company Mankind Pharma Ltd has filed draft papers for an initial public offering (IPO) with the domestic market regulator, according to a prospectus. The IPO will consist of nearly 40.1 million shares on offer for sale from existing shareholders, according to the draft prospectus dated Sept. 15, which did not disclose …
By Rama Venkat BENGALURU (Reuters) -Indian shares dropped nearly 2% on Friday to register a weekly decline, dragged by a sharp fall in technology and automobile stocks following a broader global selloff over recession worries. Forty-eight of the NSE Nifty 50 stocks ended lower, pulling the index down 1.94% to close at 17,530.85. The S&P …
Indian shares post weekly decline as tech, autos tumble Read More »
By Tanvi Mehta NEW DELHI (Reuters) -Indian consumer group Patanjali, co-founded by a well-known yoga guru, said on Friday it plans to list four group companies and increase group turnover to $12.5 billion in the next five to seven years. The producer of affordable, domestic-made goods is taking on bigger rivals such as Unilever and …
Indian yoga guru’s Patanjali plans to list four firms Read More »
(Drops extraneous word in paragraph 2) By Anushka Trivedi (Reuters) -The possibility of India being included in global bond indexes this year has led to increased buying in a set of local securities. A decision on whether to include the south Asian country into the J.P.Morgan Government Bond Index-Emerging Markets (GBI-EM) could come as early …
What could India’s inclusion into major global bond indexes mean Read More »
By M. Sriram MUMBAI (Reuters) – New York-based private equity firm Warburg Pincus LLC is in talks to invest around $150 million in Indian small-business lender Vistaar Finance, two sources familiar with the matter told Reuters, marking its latest bet in a booming lending market. Warburg’s discussions with Vistaar are for a 30% stake in …
Warburg eyes 30% stake in Indian shadow bank Vistaar for $150 million – sources Read More »
MUMBAI (Reuters) – Indian government’s potential higher borrowing in the second half of this financial year could be offset by lower debt issuance by states, ICICI Securities Primary Dealership said. “The sharp fall in states’ borrowing will more than offset the rise in centre’s dated borrowing, economists Prasanna A and Abhishek Upadhyay said in a …
India’s higher govt borrowing may be offset by lower state debt supply in H2-ICICI Sec Read More »
By Devjyot Ghoshal and Nivedita Bhattacharjee BENGALURU (Reuters) – Harish Pullanoor spent his weekends in the late 1980s tramping around the marshes and ponds of Yemalur, an area then on the eastern edge of the Indian metropolis of Bengaluru, where his cousins would join him catching small freshwater fish. In the 1990s, Bengaluru, once a …
Traffic, water shortages, now floods: the slow death of India’s tech hub? Read More »
By Ashitha Shivaprasad (Reuters) – Top rice exporter India’s export curbs forced buyers to switch to rival suppliers, boosting rates for the staple from other Asian hubs this week. Last week, India banned exports of broken rice and imposed a 20% duty on exports of various grades as it tries to augment supplies and cool …
India’s rice export curbs prompt buyers to look to other hubs Read More »
By Kavya Guduru (Reuters) – Gold dropped to its lowest level since March 2021 on Thursday, hurt by elevated U.S. Treasury yields and a firm dollar, as bets of another hefty rate hike by the U.S. Federal Reserve eroded bullion’s appeal. Spot gold was last down 1.2% at $1,674.99 per ounce by 10:50 a.m. ET …
Gold dips to near 2-month low as sharp rate-hike bets bolster dollar Read More »
