BENGALURU (Reuters) – Shares of Indian digital payments firm Paytm jumped more than 6% on Monday to their highest levels in nearly six months, after the company’s parent firm One 97 Communications Ltd posted an 89% surge in its quarterly revenue. Higher number of monthly users, additional payment devices and more disbursal of loans lifted …
India’s Paytm at near 6-month high as quarterly revenue surges Read More »
MUMBAI (Reuters) – The Reserve Bank of India is likely to raise its key policy rate by upto 60 basis points by the end of 2022, before pausing, but the pace of rate hikes is likely to slow down, analysts said. “We are retaining our view of a terminal policy rate of 6%…We expect a …
India RBI may hike repo rate to 6.00%, pace may slow – analysts Read More »
(Reuters) – Tata Motors Ltd signed an agreement on Sunday to buy Ford Motor’s manufacturing plant in the western state of Gujarat for 7.26 billion rupees ($91.5 million). The agreement between the Indian automaker’s subsidiary Tata Passenger Electric Mobility Ltd (TPEML) and Ford India Pvt Ltd (FIPL) covers land, assets and all eligible employees. “With …
Tata Motors to buy Ford India’s manufacturing plant for $91 million Read More »
MUMBAI (Reuters) – India’s newest budget carrier Akasa Air, which is backed by billionaire Rakesh Jhunjhunwala, began commercial operations on Sunday with a maiden flight from the financial capital of Mumbai to the city of Ahmedabad. Starting from Sunday, Akasa Air will operate weekly flights from Mumbai to Ahmedabad, a commercial hub in the neighbouring …
India’s newest budget carrier Akasa begins commercial operations Read More »
By Nupur Anand MUMBAI (Reuters) -State Bank of India on Saturday missed estimates with a 6.7% fall in first-quarter net profit hit by investment losses which India’s largest lender said it expected to recoup over the course of the year. In the quarter to June 30, the bank recorded mark-to-market (MTM) losses of 65.49 billion …
Top Indian lender SBI posts Q1 profit fall on investment book losses Read More »
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -India’s biggest real estate developer DLF is evaluating a bid for a prominent New Delhi shopping mall which has a starting auction price of $366 million, according to two sources and a public notice seen by Reuters. The 1.2 million square feet “Ambience Mall” in the …
India’s DLF mulls auction bid for New Delhi mall with base price of $366 million-sources Read More »
By Paresh Dave OAKLAND, Calif. (Reuters) -Cisco Systems Inc on Friday lost a court appeal to move to private arbitration a case over alleged caste discrimination in its Silicon Valley offices, where managers of Indian descent are accused of bias against a fellow employee from India. The networking gear and business software company has denied …
California appeals court rules no arbitration in Cisco caste bias case Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices extended losses to slide more than 1% on Friday as an unexpectedly strong U.S. jobs report eased recession worries and dashed speculation that the Federal Reserve would pivot away from its aggressive monetary policy tightening. Spot gold fell 0.9% to $1,775.09 per ounce by 1:43 p.m. ET (1743 …
Gold dips 1% as robust U.S. jobs data eases recession concerns Read More »
By Nidhi Verma NEW DELHI (Reuters) – India’s top gas importer Petronet LNG has pushed back plans for a 1 million tonnes per annum (mtpa) liquefied natural gas (LNG) import deal after a surge in global prices, its head of finance Vinod Kumar Mishra said. “If you go for any long term contract it comes …
India’s Petronet delays plan for 1mtp LNG deal amid high prices Read More »
By Aditya Kalra NEW DELHI (Reuters) – Swiss giant Holcim’s India units and more than a dozen other cement manufacturers colluded to raise prices and restrict supplies for years, which included regularly inspecting one another to ensure there was no breach of the agreements, according to a federal antitrust probe. The investigations arm of the …
Exclusive: How Holcim units and other Indian cement firms fixed prices Read More »
