By Neha Arora NEW DELHI (Reuters) – India has extended an auction of deep-sea blocks containing critical minerals used in electric vehicle batteries and other products until May 1, a spokesperson at India’s Ministry of Mines said on Wednesday. China is a top global producer of 30 of the 50 minerals considered critical by the …
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By Jayshree P Upadhyay and Ira Dugal MUMBAI (Reuters) -India’s market regulator is rethinking sustainability or ESG disclosures required of listed firms including its already delayed plans for companies to include supply chains in their reporting, its new chief Tuhin Kanta Pandey told Reuters. The review, which follows concerns raised by Indian industry on reporting …
Exclusive-India to review ESG disclosures for listed firms, market regulator says Read More »
By Praveen Paramasivam (Reuters) – Indian dairy firm Heritage Foods will increase the prices of its products this financial year to offset rising costs such as fuel and raw material expenses, its CEO told Reuters. Consumer goods majors, including Nestle India and Cinthol soapmaker Godrej Consumer Products, are hiking prices to battle a double whammy …
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By Siddhi Nayak and Hritam Mukherjee (Reuters) – IndusInd Bank’s shares rose as much as 4.2% on Wednesday, a day after the private lender said it would take a smaller-than-expected hit to its net worth after an external review of previously reported accounting discrepancies. IndusInd was the top gainer on India’s benchmark Nifty 50 index, …
India’s IndusInd Bank rises on smaller-than-expected hit from accounting lapse Read More »
(Reuters) – India’s markets regulator on Tuesday barred Gensol Engineering’s founders from holding key positions in the company after allegedly defaulting on debt repayment related to electric vehicle purchases for ride-hailing startup BluSmart. In an interim order, the Securities and Exchange Board of India (SEBI) also restrained Gensol’s founders, Anmol Singh Jaggi and Puneet Singh …
Indian markets regulator bars Gensol founders from top company roles over EV debt issue Read More »
By Brijesh Patel (Reuters) – Gold prices gained on Tuesday, helped by safe-haven demand as U.S. President Donald Trump’s tariff plans kept investors wary of trade policy, while an overall weaker dollar also lent support. Spot gold was up 0.4% at $3,221.32 an ounce as of 11:24 a.m. ET (1524 GMT). Bullion hit a record …
Gold climbs as softer dollar, tariff tensions buoy demand Read More »
(Reuters) – India has launched an auction of three coal bed methane blocks and 55 small discovered fields for exploration and production, said Pallavi Jain Govil, head of upstream regulator Directorate General of Hydrocarbons, on Tuesday at an event in Delhi. Two of the coal bed methane blocks are in the state of West …
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BENGALURU (Reuters) – India’s ICICI Lombard General Insurance reported a surprise drop in fourth-quarter profit on Tuesday, hurt by a jump in claims paid. The non-life insurer’s profit after tax fell 2% to 5.10 billion rupees ($59.5 million) for the quarter ended March 31. Analysts, on average, expected a profit of 5.92 billion rupees, as …
India’s ICICI Lombard posts surprise profit drop on surge in claims, accounting change Read More »
(Reuters) – India’s ICICI Prudential Life Insurance on Tuesday reported a surge in fourth-quarter profit, helped by strong demand for its group insurance offerings. The insurer’s standalone profit more than doubled to 3.86 billion rupees ($45 million) for the quarter ended March 31. Its quarterly net premium income grew 11% to 16.37 billion rupees, driven …
(Reuters) – India’s Axis Bank will consider raising funds on April 24, the private lender said on Tuesday. The bank, which will report its earnings for the January–March quarter on the same day, said it will consider the issuance of shares through methods including qualified institutional placement as well as the issuance of debt instruments …
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