Reuters India Business

India’s SpiceJet to own 13 Bombardier Q400 planes after $91 million settlement

26 Mar 2024

BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Tuesday it had agreed with Export Development Canada (EDC) to settle liabilities worth around $91 million, allowing it to take ownership of 13 of 15 Bombardier Q400 aircraft financed by the Canadian trade finance agency. Shares of SpiceJet ended 3.9% higher on Tuesday after rising as much …

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PE firm Olympus to sell up to $235 million stake in India’s Aster DM, term sheet shows

26 Mar 2024

By M. Sriram and Dimpal Gulwani (Reuters) -Private equity firm Olympus Capital Asia plans to sell a 9.8% stake in India’s Aster DM Healthcare for up to 19.53 billion rupees (nearly $235 million), according to a term sheet seen by Reuters on Tuesday. Olympus Capital, which owns about 19% stake in the hospital chain, is …

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Wipro GE Healthcare to invest $960 million in R&D, manufacturing in India

26 Mar 2024

HYDERABAD (Reuters) – Wipro GE Healthcare, a joint venture of India’s Wipro Enterprises and a wholly owned entity of U.S.-based GE Healthcare, said it would invest 80 billion rupees ($960 million) in the country in its manufacturing and research and development facilities. Bengaluru-based medical technology company Wipro GE Healthcare said on Tuesday the investment would …

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India’s GAIL to commission its first green hydrogen project in April, sources say

26 Mar 2024

By Mohi Narayan NEW DELHI (Reuters) – State-run natural gas company GAIL (India) Ltd plans to commission its first green hydrogen project in central India in April, three company sources said. The 10-megawatt proton exchange membrane electrolyser for the green-hydrogen producing unit at the Vijaipur complex in Madhya Pradesh state has been imported from Canada, …

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Rupee recovers from record low on likely cenbank intervention, yuan gains

26 Mar 2024

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Tuesday, rebounding from Friday’s record low, aided by likely intervention from the central bank and an uptick in the offshore Chinese yuan. The rupee was at 83.3375 against the U.S. dollar as of 10:45 a.m. IST, up 0.1% compared with its close at 83.4250 …

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India extends ban on onion exports indefinitely ahead of general election

23 Mar 2024

By Rajendra Jadhav MUMBAI (Reuters) – India has extended its ban on onion exports indefinitely – a surprise move that comes ahead of a general election and is set to exacerbate high prices in some overseas markets. Imposed by India – the world’s biggest exporter of the vegetable – in December, the ban was due …

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