Reuters India Business

BENGALURU (Reuters) -Indian shares fell more than 1% on Thursday, snapping three sessions of gains, as losses in financial and information technology stocks eclipsed gains in automakers. The blue-chip NSE Nifty 50 index dropped 1.24% to 17,560.2 and the S&P BSE Sensex slid 1.29% to 58,788.02. Both the indexes added 4% in the past three …

Indian shares end three-day rally as IT, financial stocks weigh Read More »

By Aftab Ahmed and Manoj Kumar NEW DELHI (Reuters) -State-run Life Insurance Corporation of India’s (LIC) embedded value has been finalised at more than 5 trillion rupees ($66.82 billion), a government official who is overseeing what is expected to be the country’s largest IPO said on Thursday. Investors are eagerly waiting for the government to …

Exclusive-India LIC’s embedded value set at over $66.8 billion, govt official says Read More »

By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) – Lenders to Future Retail, the company being fought over by Reliance Industries and Amazon.com Inc, have told India’s Supreme Court that its assets should be put up for auction after it missed payments. They also said they have started classifying loans to the country’s second-largest …

Lenders to India’s Future Retail call for its assets to be put up for auction Read More »

By Aditi Shah NEW DELHI (Reuters) – The Indian government is expected to finalise incentives under its new battery swap scheme for electric vehicles (EVs) within the next two months, an official told Reuters, amid a broader clean mobility push to meet its decarbonisation goals. The policy will initially focus on battery swap services for …

India close to finalising incentives under new battery swap scheme – source Read More »

BENGALURU (Reuters) – India’s dominant services sector expanded at its slowest pace in six months in January as restrictions due to a new wave of COVID-19 cases and surging prices weighed on demand, a private survey showed. The IHS Markit Services Purchasing Managers’ Index slumped to 51.5 in January from 55.5 in December, far below …

India’s services growth at 6-mth low in Jan, input costs at decade high Read More »

By Aftab Ahmed NEW DELHI (Reuters) – The Indian government may reduce by as much as 600 billion rupees its planned record market borrowing of 14.95 trillion rupees ($200 billion) for the next fiscal year, two government sources said. The sources said the latest bond switch conducted by the government with the central bank at …

India may cut record 2022/23 market borrowing plan by up to 600 billion rupees – sources Read More »