By Alistair Smout LONDON (Reuters) – British trade minister Jonathan Reynolds met his Indian counterpart Piyush Goyal in London on Friday in an unscheduled resumption of talks as the countries seek to clinch a free trade deal in the shadow of U.S. tariffs. Goyal returned to London for the talks, a British government spokesperson said, …
India and UK look to clinch trade deal in new London meeting Read More »
By Arpan Chaturvedi NEW DELHI (Reuters) -India’s top court on Friday rejected JSW Steel’s resolution plan to acquire Bhushan Power and Steel four years after the takeover was completed, and ordered the liquidation of the debt-ridden firm, two lawyers involved in the case said. The insolvency administrator and the lenders panel, which ran the insolvency …
Top Indian court scraps JSW Steel’s bid to acquire Bhushan Power, case lawyers say Read More »
By Alistair Smout LONDON (Reuters) -An investment treaty between Britain and India will contain a provision that allows companies to sue either government if they believe policy changes unfairly harm their investment or profits, two sources familiar with discussions told Reuters. The Investor-State Dispute Settlement (ISDS) mechanism is aimed at protecting companies against possible unfair …
UK-India investment treaty lets companies sue government, sources say Read More »
(Reuters) -India’s R R Kabel reported a 64% rise in fourth-quarter profit on Friday, buoyed by strong demand in its core wires and cables segment. The company’s consolidated profit climbed to 1.29 billion rupees ($15.31 million) in the three months ended March 31 from 787 million rupees a year earlier. Revenue from operations rose 26.4% …
India’s R R Kabel’s quarterly profit surges on demand for wires and cables Read More »
(Reuters) -Indian consumer goods maker Marico reported quarterly profit above analysts’ expectations on Friday, boosted by improving rural demand and price increases for its key packaged oil brands. Its consolidated net profit rose 8% to 3.43 billion rupees ($40.6 million) in the January-March quarter, beating analysts’ average estimate of 3.34 billion rupees, according to data …
India’s Marico beats quarterly profit view on packaged oil price hikes Read More »
MUMBAI (Reuters) – A working group set up by the Indian central bank has recommended longer operating hours for the interbank money markets, while maintaining the current schedule for the bond and forex markets, according to a notice issued on Friday. The Reserve Bank of India set up the group to study the changing needs …
India central bank working group recommends longer hours for interbank money markets Read More »
(Reuters) -India’s Jindal SAW, which makes steel pipes for the energy, transportation and water sectors, reported a smaller fourth-quarter profit on Friday as demand dropped due to a slowdown in construction activity. The company’s consolidated net profit after tax decreased 42% to 2.91 billion rupees ($34.5 million) in the three months ended March 31. Revenue …
India’s Jindal SAW posts quarterly profit drop on lower demand Read More »
MUMBAI (Reuters) – The Indian rupee soared past 84 per U.S. dollar to touch a near six-month peak on Friday before reversing course on the back of likely dollar buying intervention by the central bank, via state-run lenders, traders said. Strong portfolio inflows and culling of bearish positions on the local currency had hoisted it …
Rupee hits six-month peak before retreating on likely central bank intervention Read More »
(Reuters) -Indian budget hotel chain Oyo is delaying its third IPO attempt amid opposition from largest shareholder SoftBank and market volatility, aiming to now list by March 2026 at a valuation of $7 billion, Bloomberg News reported on Friday. SoftBank does not favor Oyo’s plan to list in October and has pressed the company to …
India’s Oyo delays third IPO attempt due to SoftBank opposition, Bloomberg News reports Read More »
By Bharath Rajeswaran and Vivek Kumar M (Reuters) -Indian benchmarks rose on Friday to log their longest weekly winning streak of the year, led by index heavyweight Reliance Industries, while steady foreign inflows and renewed optimism over a potential India-U.S. trade deal supported sentiment. The Nifty 50 closed 0.05% higher at 24,346.7 and the BSE …
