Reuters India Business

GQG, Fidelity pick up shares worth $261 million in India’s Vodafone Idea

BENGALURU (Reuters) – Investment firms GQG and Fidelity picked up shares worth $261 million in India’s Vodafone Idea as part of the debt-saddled telecom operator’s planned $2.16 billion share sale, the company said. Vodafone Idea sold shares worth 54 billion rupees ($645.5 million) to institutional investors in the first stage of its 180 billion rupees …

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Zee withdraws Sony merger application from India company tribunal

BENGALURU (Reuters) – Zee Entertainment Enterprises said on Tuesday it was withdrawing an application filed with an Indian company tribunal that was aimed at forcing Sony to merge its India unit with the company. The decision to withdraw the application, which was filed in January, will enable the company to “aggressively pursue” all its claims …

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Gold holds steady as geopolitical risks counter rate cut concerns

By Ashitha Shivaprasad (Reuters) – Gold prices held steady on Tuesday, as safe-haven demand amid ongoing tensions in the Middle East offset rising expectations of fewer U.S. rate cuts this year. Spot gold was little changed at $2,382.72 per ounce by 13:56 ET (1756 GMT). U.S. gold futures settled 1% higher at $2,407.8. The yellow …

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Indian regulators plan panel to weigh derivatives risk, sources say

By Jayshree P Upadhyay MUMBAI (Reuters) – India’s top financial regulators will form a committee to assess stability risks emerging from a surge in derivatives markets and suggest policy changes if required, two sources familiar with the matter said. Options trading in India has soared in the last five years, fuelled mainly by retail investors. …

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India cenbank asks payment firms to monitor merchant activities

MUMBAI/BENGALURU (Reuters) – India’s central bank on Tuesday asked online payment firms to monitor transactions-related activities of merchants on their platforms and ensure that they meet its fresh guidelines, in a series of moves aimed at tightening the scrutiny of the sector. India’s burgeoning yet relatively less-regulated online payments industry has come under the RBI’s …

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Social media platform X withholds some political posts in India after election commission order

(Reuters) – Social media platform X said on Tuesday it withheld some posts in India containing political speech from elected politicians, political parties, and candidates for office after the country’s election commission ordered their takedown. Elon Musk-owned X said it disagreed with the election commission’s orders. “We call on the Election Commission to publish all …

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Indian shares fall for third straight session on US rates, geopolitical woes

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares extended losses to a third session in a row on Tuesday, led by a slide in information technology stocks on receding bets of early U.S. rate cuts and worries over the conflict in the Middle East. The NSE Nifty 50 shed 0.56% to close at 22,147.90, while the …

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India’s Aditya Birla sees 19%-21% growth in key financial businesses in 3-5 years

By Siddhi Nayak MUMBAI (Reuters) -Three key financial businesses of India’s Aditya Birla group are expected to grow 19%-21% in the next three to five years, the cement-to-retail conglomerate’s chairman Kumar Mangalam Birla said on Tuesday. Speaking at an event in Mumbai, Birla was referring to the company’s credit, investment and insurance arms, but did …

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