Reuters India Business

Apollo Global-backed Tenneco Clean Air files for up to $350 million India IPO

30 Jun 2025

(Reuters) -Apollo Global Management-backed auto-parts maker Tenneco Clean Air India has filed for an initial public offering worth up to 30 billion rupees (about $350 million), draft papers filed with the market regulator showed on Monday. Shareholder Tenneco Mauritius Holdings, an affiliate of Apollo-owned U.S.-based auto parts supplier Tenneco Inc, is selling a stake worth …

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Sigachi factory fire kills at least 12 in India’s Telangana state, police say

30 Jun 2025

By Rishika Sadam and Abinaya V HYDERABAD/BENGALURU (Reuters) -At least 12 people died and more than 26 were injured in India’s Telangana state after an explosion at a unit of Sigachi Industries led to a fire on Monday, police said. Four people are in an “extremely critical condition”, while 10 are still stuck inside the …

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Indian banks’ gross bad loan ratio to remain close to multi-decade lows, RBI report says

30 Jun 2025

MUMBAI (Reuters) -Indian banks’ gross bad loan ratio will remain close to multi-decade lows if economic growth holds steady as projected, a report published by the central bank on Monday showed. The Reserve Bank of India forecasts growth at 6.5% and 6.7% in fiscal 2026 and 2027. The gross bad loan ratio – the proportion …

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India’s industrial output growth slows to nine-month low in May

30 Jun 2025

NEW DELHI (Reuters) -India’s industrial output grew 1.2% year-on-year in May, its slowest pace since August 2024, government data showed on Monday. Economists polled by Reuters projected a growth of 2.4%. Industrial output grew 2.7% year-on-year in April. The early onset of the monsoon weighed on the mining activity and the demand for electricity, with …

India’s industrial output growth slows to nine-month low in May Read More »

India’s April-May fiscal deficit at 0.8% of full-year target

30 Jun 2025

NEW DELHI (Reuters) -India’s fiscal deficit for April-May was 131.6 billion rupees ($1.5 billion) or 0.8% of the estimate for the financial year ending March 31, government data showed on Monday. KEY NUMBERS * Net tax receipts at 3.5 trillion rupees compared with 3.2 trillion rupees a year earlier * Non-tax revenue at 3.6 trillion …

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Rupee ends month and quarter a tad lower, trails most Asian peers

30 Jun 2025

(Refiles to fix dateline to June 30) By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee slipped on Monday to end the month and quarter slightly lower, trailing most Asian peers amid muted portfolio inflows and weighed down by the country’s external investment deficit. The currency closed at 85.7550 against the U.S. dollar, down 0.3% …

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India’s equity benchmarks ease as financials retreat from record highs

30 Jun 2025

By Bharath Rajeswaran (Reuters) -India’s benchmark indexes edged lower on Monday, snapping a four-session rally, as profit-taking in financials near record highs overpowered optimism from easing geopolitical tensions. The Nifty 50 shed 0.47% to 25,517.05 and the BSE Sensex fell 0.54% to 83,606.46. Both indexes had gained 2.7% over the prior four sessions and added …

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India’s Sona Comstar plans domestic magnet production to cut China imports

30 Jun 2025

By Aditi Shah NEW DELHI (Reuters) -Sona Comstar, India’s biggest importer of rare earth magnets, plans to locally manufacture the critical components used in electric vehicles, tapping into a government push to incentivise their production at home as China restricts their exports. China, which produces around 90% of the world’s rare earth magnets, put restrictions …

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India’s new infrastructure lending rules to support loan growth, Moody’s says

30 Jun 2025

(Reuters) -India’s final rules easing provisions for loans to under-construction infrastructure projects are likely to revive credit growth in the sector, Moody’s Ratings said on Monday. The Reserve Bank of India earlier this month cut the provisioning requirement to 1% from a proposed 5%, a move expected to boost banks’ willingness to fund infrastructure developments, …

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