BENGALURU (Reuters) – After striking an $8.5-billion media merger with Walt Disney, Indian billionaire Mukesh Ambani is targeting small businesses and promoting unconventional neuroscience studies to boost its revenues from the IPL, the world’s most valuable cricket league. The pricey broadcast rights for the Indian Premier League (IPL) and other cricketing events which cost Disney …
(Reuters) – The Reserve Bank of India has partially reversed tighter rules for bank loans to small borrowers and non-bank lenders, according to two separate circulars issued on Tuesday. The reversal of rules follows the central bank’s decision to defer proposals to increase the capital that banks set aside for new project loans and liquidity …
India’s RBI partly dials back strict loan rules for micro credit, non-bank lenders Read More »
(Reuters) – UltraTech Cement, India’s top cement maker by capacity, will spend 18 billion rupees ($206 million) to start up a wires and cables business, deepening its foothold in the construction materials business, the company said on Tuesday. The wires and cables business will be part of UltraTech’s building products division, which includes waterproofing products, …
India’s UltraTech Cement to spend $206 million to enter cables, wires business Read More »
By Ira Dugal MUMBAI (Reuters) – U.S. investor Carson Block is weighing plans for an India fund which could be based on a ‘long-only’ or ‘long-short’ strategy but would not look at activist short-selling in the country, he told Reuters. “The question we are asking is whether we would want to do long-short or long-only …
Muddy Waters’ Carson Block weighs India entry, may consider long-only, long-short fund Read More »
(Reuters) – India’s booming quick-commerce sector may struggle to maintain its current pace of growth as expansion beyond major cities remains limited and competition from larger e-commerce players intensifies, according to a report by Blume Ventures. These companies deliver groceries to electronics within minutes and their market share has grown to $7.1 billion in fiscal …
By Vivek Kumar M and Bharath Rajeswaran (Reuters) – India’s benchmark indexes closed little changed on Tuesday, after five days of losses, as investors stayed on the sidelines ahead of a local holiday and the monthly derivatives expiry. The Nifty 50 dipped a marginal 0.03% lower to end at 22,547.55. The BSE Sensex, however, edged …
India’s benchmarks settle little changed ahead of holiday Read More »
By Jaspreet Kalra NAGPUR, India (Reuters) -Like thousands of his countrymen in far-flung places, flower-shop owner Ashish Nagose has been learning about trading cryptocurrencies by attending classes every weekday for the past two months in his home city of Nagpur in western India. Nagose bought and sold stock options earlier but is now venturing into …
Crypto trading booms in India’s smaller cities as job growth and incomes disappoint Read More »
By Neha Arora and Amy Lv NEW DELHI/BEIJING (Reuters) – India could extend restrictions on low-ash metallurgical or met coke imports to encourage local steel mills to source the steelmaking ingredient from domestic suppliers, two sources said. In December, India, the world’s second-biggest producer of crude steel, imposed quantitative curbs with country-specific quotas on imports …
India could extend import curbs on steelmaking raw material, sources say Read More »
By Rishika Sadam HYDERABAD (Reuters) – Indian drugmakers are likely to remain competitive in the generics market even as U.S. President Donald Trump’s plans to levy tariffs on pharmaceutical imports, Dr Reddy’s Managing Director GV Prasad said on Tuesday. Trump has said he could impose duties of 25% or more on pharmaceutical imports and an …
Indian drugmakers likely to stay competitive as US tariffs loom, Dr Reddy’s says Read More »
MUMBAI (Reuters) – The Indian central bank likely intervened to support the rupee after it dropped past 87 per U.S. dollar on Tuesday due to demand for the greenback related to derivatives expiry, four traders told Reuters. The rupee slid to 87.2450 before the Reserve Bank of India’s intervention helped it recover to 87.1225. Still, …
Indian central bank likely intervened to halt rupee’s decline, traders say Read More »
