Reuters India Business

India’s Vodafone Idea explores partnership with Musk’s Starlink

(Reuters) -Vodafone Idea is in exploratory talks with various satellite communication providers, including Starlink, the company said on Wednesday, a week after the Indian telecom firm’s rivals signed deals with Elon Musk’s company. The mobile operator made the disclosure after Indian stock exchanges sought a clarification on its stock move and a report by local …

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First Trump-branded office project in India eyes $289 million in sales

By Dhwani Pandya MUMBAI (Reuters) – Tribeca Developers, the Trump Organisation’s property development partner in India, on Wednesday launched the first Trump-branded commercial real estate project in the country targeting sales of over $289 million. India has become the Trump brand’s largest real estate market outside of the U.S. over the last decade, where Tribeca …

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Indian shares rise for third session, mid-caps log best day in 9 months

By Vivek Kumar M and Bharath Rajeswaran (Reuters) -Financials lifted Indian shares for a third straight session on Wednesday, with mid-caps logging their best day in nine months as investors scooped up cheaper stocks on easing valuations. The NSE Nifty 50 gained 0.32% to 22,907.60, while the BSE Sensex closed 0.2% higher at 75,449.05. The …

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Rupee hits near two-month peak even as Asia FX slips ahead of Fed decision

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Wednesday, touching a near two-month high, supported by dollar sales from foreign banks and seasonal inflows even as its regional peers dipped ahead of the U.S. Federal Reserve’s policy decision. The rupee ended the session at 86.4425 against the U.S. dollar, slightly higher than …

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India’s antitrust raids on global media giants GroupM, Publicis, Dentsu ran through the night

By Aditya Kalra NEW DELHI (Reuters) – India’s antitrust officers grilled media executives and seized data in an investigation into price fixing by global advertising agencies GroupM, Interpublic, Publicis and Dentsu, with raids continuing well past midnight into a second day on Wednesday, people familiar with the matter said. The Competition Commission of India (CCI) …

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India’s IndiGo expects to increase international route seats by fiscal year 2030

(Reuters) – Indian airline IndiGo plans to significantly increase the number of seats it allocates for international flights by fiscal year 2030 to secure greater market share, it said on Wednesday. The no-frills airline expects to increase its international capacity share, or the proportion of its total available seat kilometers for international routes, to 40% …

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India’s government recommends 12% temporary tax on some steel products

NEW DELHI (Reuters) -India has recommended a temporary tax of 12% on some steel products for 200 days, known locally as safeguard duty, in a bid to curb imports, according to a government notice published on Tuesday. “Authority considers that a provisional safeguard duty of 12% will be appropriate to eliminate the serious injury and …

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IndusInd International to list insurance units of Reliance Capital in 2-3 years

By Jaspreet Kalra, Siddhi Nayak and Nishit Navin MUMBAI/BENGALURU (Reuters) – IndusInd International Holdings (IIHL) on Tuesday said it will list the insurance units of Reliance Capital in two to three years, after it completed the transaction to buy the financial services firm. IndusInd International’s bid to acquire debt-ridden Reliance Capital for around 96 billion …

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Exclusive-India raids ad giants GroupM, Publicis, broadcasters’ group over price collusion, sources say

By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -The Indian antitrust body has raided the offices of many global advertising giants, including GroupM, Publicis, Dentsu and Interpublic Group, and a broadcasters’ industry group over alleged price collusion, people with direct knowledge told Reuters on Tuesday. Officers of the Competition Commission of India searched around …

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