(Reuters) – India’s crude oil imports fell 9.9% month-on-month to 19.10 million metric tons in February, the lowest since November 2024, according to government data released on Thursday. WHY IT’S IMPORTANT India is the world’s third-biggest oil importer and consumer, and the data is a proxy for the country’s oil demand. BY THE NUMBERS On …
India’s crude oil imports touch three-month low in February Read More »
(Reuters) -India’s Manappuram Finance said on Thursday Bain Capital would invest 43.85 billion rupees ($508 million) to acquire an 18% stake in the gold loan provider at a time record prices of the precious metal has made its mortgaging appealing. The asset manager will subscribe to Manappuram’s shares and warrants at 236 rupees apiece, implying …
Bain Capital to buy stake worth $508 million in India’s Manappuram Finance Read More »
By Rishika Sadam HYDERABAD (Reuters) -Indian vaccine maker Bharat Biotech said on Thursday it had invested $75 million in its first cell and gene therapy (CGT) facility in the southern Indian state of Telangana and expects its new therapies to hit the market in the next three years. The company is expanding its focus from …
India’s Bharat Biotech launches cell gene therapy facility, eyes product launch by 2028 Read More »
By Arpan Chaturvedi and Munsif Vengattil NEW DELHI (Reuters) – India’s IT ministry has unlawfully expanded censorship powers to allow the easier removal of online content and empowered “countless” government officials to execute such orders, Elon Musk’s X has alleged in a new lawsuit against New Delhi. The lawsuit and the allegations mark an escalation …
X sues Modi’s government over content removal in new India censorship fight Read More »
(Reuters) -Indian non-banking financial company Bajaj Finance on Thursday named Anup Kumar Saha as its managing director, replacing Rajeev Jain. The company said Jain will be re-designated as its vice chairman for three years, effective April 1. Saha, who currently serves as the deputy managing director, will also take on his new role starting April …
India’s Bajaj Finance names Anup Kumar Saha as MD, Rajeev Jain becomes VC Read More »
(Reuters) -Hindalco Industries, one of India’s largest aluminium and copper producers, said on Thursday it plans to invest 450 billion rupees ($5.21 billion) in its aluminium, copper, and specialty alumina businesses. The investment will be to deliver both upstream and high-precision engineered products, Hindalco said in a filing. The company is on track to surpass …
India’s Hindalco to invest $5.2 billion across metals business Read More »
By Aditi Shah, Abhijith Ganapavaram and Tim Hepher NEW DELHI/PARIS (Reuters) -Air India is exploring a fresh multi-billion dollar order for dozens of widebody jets from Boeing and Airbus, industry sources said, furthering the former state carrier’s transformation under new owner Tata Group. The deliberations involve 30 to 40 aircraft split between the Airbus A350 …
(Reuters) – Reliance group-owned Jio Financial Services has reached a preliminary agreement with Germany’s Allianz SE to form an insurance business in India, Bloomberg News reported on Thursday, citing people familiar with the matter. This comes after Allianz earlier this week agreed to sell its 26% stake in its non-life and life insurance joint ventures …
By Vivek Kumar M and Bharath Rajeswaran (Reuters) -Indian shares rose for the fourth straight session on Thursday, buoyed by the prospect of two rate cuts by the Federal Reserve this year amid brewing tariff concerns. The NSE Nifty 50 gained 1.24% to close at 23,190.65, while the BSE Sensex rose 1.19% to 76,348.06. This …
Indian shares jump as Fed’s rate cut outlook bolsters sentiment Read More »
By Neha Arora NEW DELHI (Reuters) – Some Indian mining and cement companies have approached Dutch shipbuilder Royal IHC for technical assistance as they prepare to bid for deep-sea mineral blocks up for auction, two sources with direct knowledge of the matter told Reuters. In November, India launched the first tranche of auction for 13 …
Indian firms seek help from Dutch Royal IHC for deep-sea mineral exploration Read More »
