(Reuters) -Aluminum recycler Novelis, owned by Indian conglomerate Aditya Birla Group’s Hindalco Industries, made public its filing for an initial public offering in the United States on Monday. The company is moving ahead with a listing at a time when the U.S. IPO market is on a rebound this year, after a two-year lull, on …
By Foo Yun Chee BRUSSELS (Reuters) – U.S. heart valve maker Edwards Lifesciences has been hit with an EU antitrust complaint by Indian rival Meril including for allegedly anti-competitive practices related to patents, a move that could bolster EU regulators’ scrutiny of Edwards. Regulators on both sides of the Atlantic have recently taken a tougher …
Edwards Lifesciences hit with Meril’s EU antitrust complaint Read More »
NEW DELHI (Reuters) -India signed a 10-year contract with Iran on Monday to develop and operate the Iranian port of Chabahar, the Narendra Modi-led government said, strengthening relations with a strategic Middle Eastern nation. India has been developing the port in Chabahar on Iran’s south-eastern coast along the Gulf of Oman as a way to …
India inks 10-year deal to operate Iran’s Chabahar port Read More »
By Rahul Paswan (Reuters) – Gold prices fell 1% on Monday on profit-taking, as investors looked forward to key inflation figures this week for clues on the U.S. interest rate cuts this year. Spot gold fell 1% to $2,336.76 per ounce by 1745 GMT. It had hit its highest level since April 22 on Friday. …
Gold dips as traders await US inflation data for Fed rate cut cues Read More »
BENGALURU (Reuters) -India’s Shriram Finance said on Monday it will sell its entire stake in affordable housing finance unit Shriram Housing Finance to U.S. private equity firm Warburg Pincus in a deal valued at 46.30 billion rupees ($554.59 million). Warburg Pincus, through its affiliate Mango Crest Investment, will now fully own the unit in a market …
India’s Shriram Finance to sell housing finance unit to Warburg Pincus for $555 million Read More »
BENGALURU (Reuters) – India’s Tata Motors’ shares fell 8% on Monday, their biggest slide in over two years, over concerns of muted margin growth at its Jaguar Land Rover division, while the unit said it would have to ramp up spending amid slowing global demand. The company’s stock slid the most since February 2022. They …
India’s Tata Motors sinks most in 2 years on JLR margin concerns, demand worries Read More »
BENGALURU (Reuters) – Varun Beverages reported its first-quarter earnings above market expectations on Monday, as the Pepsi India bottler benefited from an uptick in demand for soft drinks due to an early onset of summer. Gurugram-based Varun Beverages’ consolidated net profit rose to 5.37 billion rupees ($64.3 million) for the quarter ended March 31, from …
Pepsi India bottler Varun Beverages beats quarterly profit view on strong demand Read More »
MUMBAI (Reuters) – Asset quality of Indian banks’ consumer loans has held up well so far, but an accumulation of “untested risks” due to rapid growth may challenge lenders’ underwriting standards and risk controls, Fitch Ratings said on Monday. “Fitch’s assessment of Indian banks’ risk profiles also factors in lower transparency in terms of data …
Indian banks’ underwriting standards at risk amid rapid consumer loan growth, Fitch says Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was marginally weaker on Monday, dragged by the decline in Asian peers and a further drop in domestic equity indexes on worries over the outcome of the general election. The rupee was at 83.52 to the U.S. dollar at 11:06 a.m. IST, down from 83.50 in …
By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares declined on Monday while volatility climbed with key equity benchmarks giving up most gains made this year on concerns over the outcome of ongoing national elections and sustained selling by foreign investors. The blue-chip NSE Nifty 50 was down 1.03% at 21,828.7 points, while S&P …
Election worries, foreign selling spook Indian equities; volatility climbs Read More »
