Reuters India Business

India’s TCS pins hopes on strong deal pipeline to drive growth in fiscal 2025

By Haripriya Suresh and Sai Ishwarbharath B BENGALURU (Reuters) – Tata Consultancy Services said on Friday it is banking on its robust deal pipeline to drive growth in 2025 after it reported lower-than-expected quarterly revenue on weak client spending in North America. The $254-billion Indian IT sector’s clients have been curtailing their discretionary spends amid …

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Instant View: India’s March retail inflation eases to 4.85% y/y

(Reuters) – India’s retail inflation in March eased to 4.85% from 5.09% in February, government data showed on Friday. A Reuters poll of 50 economists had forecast retail inflation at 4.91% for the month. COMMENTARY: GARIMA KAPOOR, ECONOMIST, INSTITUTIONAL EQUITIES, ELARA SECURITIES, MUMBAI “March CPI (consumer price index) inflation came in line with expectations amid …

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Fading US rate cut hopes erase weekly gains for Indian shares; March CPI data eyed

By Bharath Rajeswaran and Nishit Navin BENGALURU (Reuters) -India’s blue-chip indexes dropped 1% each on Friday, weighed down by financial and information technology stocks, as hot U.S. inflation data earlier this week dimmed hopes of early interest rate cuts by the Federal Reserve. The drop on Friday erased weekly gains for the NSE Nifty 50 …

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Japan’s MUFG to buy stake in India’s HDFC Bank unit HDB Financial, Economic Times reports

BENGALURU (Reuters) -Japan’s Mitsubishi UFJ Financial Group (MUFG) is buying a 20% stake in HDFC Bank’s non-banking unit HDB Financial Services, valuing the IPO-bound subsidiary between $9 billion and $10 billion, the Economic Times reported on Friday. The final decision is likely to take place next week at the HDFC Bank board meeting, according to …

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India’s Bharti Hexacom jumps 54% in debut trade at over $5 billion valuation

By Rama Venkat BENGALURU (Reuters) -Bharti Hexacom’s shares surged 54.4% in their trading debut on Friday, beating analysts’ expectations and valuing the Indian telecom operator at 440 billion rupees ($5.28 billion). The stock opened at 755 rupees, subsequently climbing to 880 rupees. Analysts had expected the stock to list at a 10%-15% premium on its …

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Foreign investors turn to derivative proxies to gain exposure to Indian debt

By Jaspreet Kalra and Dharamraj Dhutia MUMBAI (Reuters) – Overseas investors seeking exposure to India’s debt ahead of its inclusion in global benchmark indexes are using proxy instruments such as offshore swaps as they aim to overcome the country’s onerous investment regulations. Foreign investors have flocked to Indian government bonds ahead of their inclusion in …

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Vodafone Idea to launch $2.16 billion share sale in India’s biggest follow-on stock offering

BENGALURU (Reuters) -Indian telecom operator Vodafone Idea said on Friday it would raise up to 180 billion rupees ($2.16 billion) later this month through a sale of new shares, in what will be the country’s biggest follow-on public offering (FPO). The debt-laden company said in February it would raise up to 200 billion rupees through equity, …

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