By Aditi Shah, Shivangi Acharya and Victoria Waldersee NEW DELHI/BERLIN (Reuters) – Tesla has begun production of right-hand drive cars at its plant in Germany for export to India later this year, three people aware of the company’s plans told Reuters, as it moves ahead with a possible entry into the world’s third-largest car market. …
Tesla begins making cars in Germany for export to India this year -sources Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee fell to its weakest closing level on record, pressured by dollar demand from importers, while likely intervention from the Reserve Bank of India helped curb the local unit’s losses. The rupee ended at 83.4375 against the U.S. dollar, marginally weaker than its close of 83.4350 in …
Rupee ends at record closing low, likely RBI intervention helps cap losses Read More »
By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares bounced back from a bout of profit-booking and settled at record closing highs on Thursday, lifted by high-weightage financials and information technology stocks, ahead of the central bank’s policy decision on Friday. The blue-chip NSE Nifty 50 was up 0.36% to 22,514.65, while the S&P …
Financials, IT power Indian shares to record closing high ahead of RBI rate decision Read More »
BENGALURU (Reuters) – Consumer goods maker Dabur India flagged sluggish demand in the March quarter and indicated slowing revenue growth from prior quarters on Thursday, sending shares to a near six-month low. Dabur said it expects mid-single digit percentage revenue growth in the quarter ended March 31, compared to a 7% rise in the December-quarter …
Dabur India flags sluggish demand in March-quarter; shares drop Read More »
BENGALURU (Reuters) – Indian metals-to-oil conglomerate Vedanta will raise up to 25 billion rupees ($299.6 million) through debt securities, the company said on Thursday. The fundraise will take place through the issue of non-convertible debentures on a private placement basis. The billionaire Anil Agarwal-led company did not mention what the proceeds will be used for. …
India’s Vedanta to raise $300 million through debt securities Read More »
By Savio Shetty MUMBAI (Reuters) – Sports technology-focussed fund Centre Court Capital said on Thursday that it has launched a 3.5 billion rupees (around $42 million) venture capital fund that includes investments from the owners of India’s JSW Group and billionaire Azim Premji’s wealth fund. Centre Court Capital, or CCC, has raised 2 billion rupees …
India’s Centre Court Capital launches $42 million sports, gaming tech fund Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee’s exchange rate will not be affected by the recent volatility in the currency’s exchange-traded derivatives, which was sparked by traders furiously unwinding positions to comply with a central bank rule, four bankers said on Thursday. The considerable volatility in the rupee’s exchange-traded derivatives, particularly options, on …
Volatility in Indian rupee exchange traded derivatives won’t impact spot, bankers say Read More »
BENGALURU/MUMBAI (Reuters) -HDFC Bank said on Thursday its gross loans grew 1.6% sequentially in the January-March period, at a rate that was slower than the previous quarter, with the Indian private lender also reducing its loan-to-deposit ratio (LDR). The company’s shares rose as much as 3% to their highest since mid-January before trimming some gains …
HDFC Bank’s March-quarter loans grow at slower pace sequentially, deposits rise 7.5% Read More »
By Shivangi Acharya NEW DELHI (Reuters) – India has paid $1.02 billion as incentives to boost local manufacturing, following over $13 billion in investments from private firms under a scheme introduced in 2020, a top government official said on Wednesday. The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India’s key industrial policy and covers …
By Anant Chandak BENGALURU (Reuters) – India’s dominant services industry grew faster in March amid strong demand, according to a private business survey that also showed employment increased at the fastest rate in seven months and export business expanded at a record pace. The final HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, …
India’s services growth accelerated in March, exports at record high, PMI shows Read More »
