(Reuters) – Indian conglomerate ITC said on Monday it would acquire the pulp and paper business of Aditya Birla Real Estate for up to 35 billion rupees ($409.7 million). The acquisition will add 480,000 metric tonnes per year of capacity to ITC’s paperboards and specialty papers business, the company said. The deal comes as ITC’s …
India’s ITC to acquire Aditya Birla Real Estate’s pulp and paper unit Read More »
(Reuters) – Indian snack company Haldiram’s said on Monday that two new investors, Alpha Wave Global and International Holding Co (IHC), were part of its ongoing equity financing round, weeks after Singapore’s Temasek picked up a 10% stake for about $1 billion. Financial terms of the deal were not disclosed. Haldiram’s, which is valued at …
Indian snack company Haldiram’s adds two more investors after Temasek Read More »
NEW DELHI (Reuters) – India has raised the price of its locally produced gas from oil fields by nearly 4% to $6.75 per million metric British thermal units (mmBtu) for April, compared with $6.50/mmBtu for the previous month, a government website showed on Monday. It is the first revision in two years in the price …
(Reuters) – The Indian government will increase its stake in Vodafone Idea to approximately 48.99% by converting 369.5 billion rupees ($4.3 billion) in outstanding spectrum auction dues into equity, a regulatory filing from the company showed on Sunday. The Ministry of Communications has directed Vodafone Idea to issue 36.95 billion shares at 10 rupees each, …
Indian Government to raise stake in Vodafone Idea to 48.99% Read More »
By Arpan Chaturvedi NEW DELHI (Reuters) – An Indian court has declined requests from JSW Steel and Trafigura to allow certain shipments of a steelmaking raw material, a court order showed, the latest setback after New Delhi’s new policy curbing imports rattled the sector. India from January imposed curbs on imports of low-ash metallurgical coke, …
India court rejects JSW Steel, Trafigura request to clear certain met coke imports Read More »
By Anmol Choubey (Reuters) – Gold prices surged to a record high on Friday, as investors flocked to the safe-haven asset amid fears of a global trade war triggered by U.S. President Donald Trump’s latest tariffs. Spot gold climbed 0.6% to $3,074.43 an ounce as of 02:41 p.m. EDT (1839 GMT) after hitting its eighteenth …
Gold prices soar to all-time high over trade war concerns Read More »
NEW DELHI (Reuters) – India has criticised Elon Musk’s X for wrongly labelling as a “censorship portal” an official website that allows tech companies to be notified about harmful online content, court papers reviewed by Reuters showed on Friday. The lawsuit marks an escalation in a legal dispute between X and the government of Prime …
India criticises X for calling compliance website a censorship tool Read More »
By Abhijith Ganapavaram NEW DELHI (Reuters) -The head of Air India Express said on Friday that the increased capacity Indian carriers expect to add in coming years will outpace demand, which may potentially bring down ticket prices, as the airline industry comes under criticism for rising fares. India’s domestic air travel sector is among the …
Air India’s budget airline head expects capacity growth to outpace demand Read More »
(Reuters) – ArcelorMittal Nippon Steel India said on Friday it would acquire land in the southern state of Andhra Pradesh to set up an integrated steel plant, as part of its plan to expand its footprint in the country. The initial payment for the land has been made, with possession expected soon, it said in …
ArcelorMittal Nippon Steel India secures land in Andhra Pradesh for steel plant Read More »
By Shivam Patel NEW DELHI (Reuters) -India will buy 156 combat helicopters for its air force and army in a deal worth over $7.3 billion, the defence ministry said on Friday, marking one of the biggest purchases this financial year in the country’s drive to modernise its military. The dual-engine ‘Prachand’ helicopter manufactured by Indian …
India signs $7 billion deal for 156 combat helicopters in modernisation push Read More »
