Reuters India Business

By Vivek Kumar M, Chandini Monnappa and Hritam Mukherjee (Reuters) -National Securities Depository Ltd’s [NATS.NS] $458 million IPO was fully subscribed within hours of its Wednesday launch as investors rushed to back its leading position in India’s rapidly growing securities market. The country’s largest depository is drawing strong investor interest amid a retail investing boom, …

NSDL’s $458 million India IPO fully sold within hours of launch Read More »

By Ashwin Manikandan and Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee posted its steepest one-day drop since May and hit a five-month low on Wednesday, hurt by worries over steep U.S. tariffs on Indian exports alongside dollar demand from foreign banks and importers. The rupee hit a low of 87.5125 against the U.S. dollar …

Tariff worries trigger rupee’s steepest fall in nearly three months Read More »

By Vivek Kumar M (Reuters) -India’s equity benchmarks ended little changed on Wednesday as gains in Larsen & Toubro after upbeat earnings offset investor caution ahead of the U.S. Federal Reserve’s policy decision and a looming U.S. tariff deadline. The Nifty 50 rose 0.14% to 24,855.05 points and the BSE Sensex gained 0.18% to 81,481.86. …

India’s equity benchmarks little changed ahead of Fed decision; tariff worries linger Read More »

(Reuters) -French electrical equipment maker Schneider Electric said on Wednesday that it has agreed to buy Temasek’s 35% stake in its Indian joint venture for 5.5 billion euros ($6.4 billion) in cash. Schneider, which is a major supplier of electrical equipment and other infrastructure for data centres, said full ownership of Schneider Electric India will …

Schneider Electric to take full ownership of India unit for $6.4 billion Read More »

By Manoj Kumar NEW DELHI (Reuters) -U.S. President Donald Trump said a trade deal with India has yet to be finalised and warned of possible higher tariffs ahead of an August 1 deadline to seal an agreement. His comments followed a Reuters report that India was preparing to accept higher tariffs of 20%-25% on its …

Trump says India deal not finalised, higher tariffs possible Read More »

(Reuters) -Shares of Larsen & Toubro jumped on Wednesday, as investors cheered the Indian infrastructure giant’s quarterly results, which topped expectations due to accelerating order growth. The stock, which rose by as much as 4.5% rupees to 3,652.70 rupees, was the top percentage gainer on the benchmark Nifty 50 index, which was trading flat, and …

India’s Larsen & Toubro jumps as investors cheer earnings beat Read More »

(Corrects to say dollars instead of dollar in headline) MUMBAI (Reuters) -The Indian central bank likely stepped in to support the rupee on Wednesday, five traders told Reuters, as worries over higher U.S. tariff rates on Indian exports pushed the currency to an over four-month low.  The rupee was last quoted at 87.11 per U.S. …

Indian central bank likely selling dollars to cap rupee’s losses, traders say Read More »

By Nidhi Verma and Mohi Narayan NEW DELHI (Reuters) -The owners of three vessels chartered by India’s Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner. Nayara, majority-owned by Russian entities including oil major Rosneft, …

Shippers ask to end contracts with Russian-backed refiner Nayara, sources say Read More »