Reuters India Business

India’s ICICI Venture to shift PE, real estate funds businesses to ICICI Pru AMC

9 May 2025

MUMBAI (Reuters) -India’s ICICI Venture Funds Management has approved transferring its private equity and real estate fund management businesses to ICICI Prudential Asset Management, their parent ICICI Bank said on Friday. The move is aimed at consolidating investment offerings under ICICI Prudential AMC, so it can provide a full suite of asset classes, including private …

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Exclusive-India offers to slash tariff gap by two-thirds in dash to seal trade pact with Trump

9 May 2025

By Shubham Batra, Shivangi Acharya and Ira Dugal NEW DELHI (Reuters) -India has offered to slash its tariff gap with the U.S. to less than 4% from nearly 13% now, in exchange for an exemption from President Donald Trump’s “current and potential” tariff hikes, two sources said, as both nations move fast to clinch a …

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Flows to Indian equity mutual funds drop to one-year low in April

9 May 2025

By Bharath Rajeswaran (Reuters) -Inflows into India’s equity mutual funds fell for the fourth consecutive month in April, reaching their lowest in a year amid market volatility triggered by U.S. tariff concerns, data showed on Friday. Net inflows fell 3.24% month-on-month in April to about 242.69 billion rupees ($2.83 billion), data from the Association of …

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Indian central bank likely selling dollars to support rupee, traders say

9 May 2025

MUMBAI (Reuters) – The Reserve Bank of India likely intervened via state-run banks to support the rupee on Friday as the intensifying conflict between India and Pakistan pressured the South Asian currency, four traders told Reuters. The rupee was last quoted at 85.50, up 0.2% after retreating from the day’s low of 85.8425 hit earlier …

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Exclusive-Star Health hacker says they sent death threats, bullets to India executives

9 May 2025

By Munsif Vengattil, Praveen Paramasivam and Aditya Kalra NEW DELHI (Reuters) -The hacker who leaked sensitive personal data held by Indian health insurer Star Health last year has taken responsibility for sending death threats and bullets to the company’s chief executive and finance head. The hacker, who goes by the alias “xenZen”, described their reprisals …

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Exclusive-India’s top bourse seeks government intervention in IPO standoff with regulator, sources say

8 May 2025

By Shubham Batra and Jayshree P Upadhyay NEW DELHI/MUMBAI (Reuters) -India’s National Stock Exchange is asking the finance ministry to intervene in a years-long standoff with the markets regulator over its planned IPO, three sources with direct knowledge of the matter said, but the exchange has denied it’s seeking government intervention. NSE, the world’s largest …

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Ambani’s Reliance pulls trademark application for codename of Pakistan strikes

8 May 2025

By Arpan Chaturvedi NEW DELHI (Reuters) -Asia’s richest man Mukesh Ambani’s film studio has withdrawn an application to trademark the codename for India’s military strikes against Pakistan after a public and political uproar on social media against the move. In a statement, billionaire Ambani’s conglomerate Reliance said the trademark application was filed inadvertently by a …

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India’s Biocon posts higher quarterly profit on boost from generics, biosimilar business

8 May 2025

BENGALURU/HYDERABAD (Reuters) -Indian biopharma firm Biocon’s profit more than doubled in the fourth quarter, led by strong demand for its generics and biosimilar drugs in its key U.S. and European markets. The company’s consolidated net profit climbed 153% to 3.45 billion rupees ($40.43 million), after an exceptional item, for the three months ended March 31 …

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India’s L&T sees higher margins in FY26 as international orders surge

8 May 2025

By Sethuraman N R and Hritam Mukherjee (Reuters) -India’s Larsen and Toubro (L&T) on Thursday said it is targeting higher core margins for the current fiscal year on the back of a strong order book, after reporting a fourth-quarter profit above the analysts’ estimate. The infrastructure major said the fiscal 2026 revenue growth is expected …

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