By Scott Murdoch SYDNEY (Reuters) -Bain Capital has sold its entire stake in Axis Bank at 1,071 rupees ($12.87) per share to raise $429 million, according to exchange data. Morgan Stanley Asia Singapore, BofA Securities Europe and Societe Generale together bought a 0.4% stake in Axis Bank through Bain’s sale. Other buyers included Goldman Sachs, …
Bain Capital exits Axis Bank, raises $429 million in stake sale Read More »
BENGALURU (Reuters) – Promoters of private lender IndusInd Bank will buy a 60% stake in the Indian arm of global asset manager Invesco, the two companies said on Tuesday, without disclosing the deal amount. After the deal, Invesco will keep a 40% stake in Invesco Asset Management India (IAMI), the fifth largest foreign asset manager …
IndusInd Bank promoters to acquire 60% of Invesco’s India arm Read More »
BENGALURU (Reuters) -India’s Paytm said on Tuesday that Surinder Chawla had resigned as the chief executive officer and managing director of its banking unit Paytm Payments Bank “on account of personal reasons”. The company said the resignation would be effective from June 26 but did not shed light on any potential successor to Chawla. The …
India’s Paytm banking unit CEO Surinder Chawla resigns Read More »
BENGALURU (Reuters) – India’s top carmaker Maruti Suzuki has added an assembly line at its largest plant, boosting the plant’s annual capacity to 900,000, it said on Tuesday. The assembly line at the plant in Manesar in the northern Indian state of Haryana can produce 100,000 vehicles each year, raising Maruti’s overall annual capacity to …
India’s Maruti Suzuki adds assembly line at its largest plant Read More »
By Milounee Purohit BENGALURU (Reuters) -India’s consumer price inflation likely eased to a five-month low of 4.91% in March but was still above the Reserve Bank of India’s 4% medium-term target as food price rises persist, according to economists polled by Reuters. RBI Governor Shaktikanta Das said last week that food price volatility remains a …
India inflation likely cooled in March, albeit slightly Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – India’s benchmark share indexes hit all-time highs on Tuesday, with the blue-chip Sensex rising above 75,000 for the first time, while the total market capitalisation of NSE-listed companies crossed 400 trillion rupees ($4.81 trillion). The NSE Nifty 50 was up 0.40% at 22,756.40 as of 10:45 a.m. IST, while …
India’s Sensex powers past 75,000, NSE stocks’ market cap tops 400 trln rupees Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s silver imports surged by 260% in February to a record high, as lower duties encouraged large purchases from the United Arab Emirates (UAE), government and industry officials told Reuters, adding they were on track to increase by 66% this year. Higher demand in India, the world’s biggest silver …
India’s February silver imports hit record and set to rise 66% this year Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices hit a record high on Monday for a seventh straight session, fuelled by central bank purchases and geopolitical tensions, while strong economic data failed to dull bullion’s allure. Spot gold firmed 0.3% to $2,336.39 per ounce, as of 13:45 p.m. ET (1745 GMT), after hitting a record high …
Central bank demand propels safe-haven gold to record peak Read More »
By M. Sriram MUMBAI (Reuters) -Bain Capital plans to sell stake worth $429 million in Indian private lender Axis Bank on Tuesday, according to a term sheet seen by Reuters. The private equity firm, which first purchased shares in the bank in November 2017, will exit its entire holding with Tuesday’s stake sale, a source …
Bain Capital to sell $429 million stake in India’s Axis Bank, term sheet shows Read More »
NEW DELHI (Reuters) – India was a net importer of finished steel during the 2023/24 financial year that ended on March 31, according to provisional government data seen by Reuters on Monday. The country imported 8.3 million metric tons of finished steel between April and March, up 38.1% from a year earlier, the data showed. …
India turns net importer of finished steel in 2023/24, data shows Read More »
