By Arpan Chaturvedi NEW DELHI (Reuters) -Insolvency proceedings against India’s Byju’s were quashed by an appeals tribunal on Friday in a big win for founder Byju Raveendran but a setback for U.S. lenders that say they are owed $1 billion by the education start-up. Byju’s was valued at $22 billion in 2022 before suffering setbacks …
Byju’s insolvency quashed by Indian appeals tribunal Read More »
MUMBAI (Reuters) – India’s markets regulator is working to streamline the fundraising process for companies and simplifying public offer documents for investors, Chairperson Madhabi Puri Buch said on Friday. The Securities and Exchange Board of India (SEBI) is working to merge rights issues and preferential allotments to expedite fundraising, Buch said at an event in …
India markets regulator targets reduction in fundraising time Read More »
BENGALURU (Reuters) -Shares of India’s Zomato surged as much as 19% to a record high on Friday, a day after the food delivery company’s first-quarter profit blew past expectations, powered by strong growth in its Blinkit grocery delivery business. The stock’s surge defied the weakness in the broader market and its 15% increase as of …
India’s Zomato rockets to all-time high as Blinkit delivers stellar growth Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares fell on Friday, dragged by metals and information technology stocks, and tracking a sell-off in global peers after weaker-than-expected U.S. data sparked concerns of a slowdown in the world’s largest economy. The NSE Nifty 50 fell 1.08% to 24,740.1 points as of 10:01 a.m. IST, while the …
Metals, IT drag Indian shares lower amid sell-off in global peers Read More »
MUMBAI (Reuters) – The Indian central bank was likely selling dollars to support the rupee on Friday as the currency was pinned near its record low, four traders told Reuters. The rupee was at 83.73 against the dollar as of 09:20 a.m. IST, just shy of its record low of 83.7450 hit on Wednesday. Broad …
By Rahul Paswan (Reuters) – Gold prices edged down on Thursday following an uptick in the U.S. dollar, after bullion hit a two-week high earlier in the session on expectations of September interest rate cuts and safe-haven demand, as focus shifted to U.S. non-farm payrolls data due this Friday. Spot gold was down about 0.4% …
Gold withdraws from two-week high as focus shifts to US payrolls data Read More »
By Aditya Kalra BENGALURU (Reuters) -Ola Electric’s IPO drew bids worth over $2 billion from institutions ahead of its opening for retail investors, with shares allocated to Nomura, Norges Bank and some Indian mutual funds, a source with direct knowledge said. Indian Electric scooter maker Ola, backed by SoftBank, plans to raise $734 million in …
India’s Ola Electric IPO attracts $2 billion of bids from big institutions, source says Read More »
By VarunVyas Hebbalalu BENGALURU (Reuters) -Tata Motors, India’s largest EV-maker by sales, said on Thursday it would be open to making hybrid cars if demand for the technology surged, but does not support government incentives for it. The ‘Nexon’ SUV-maker, which has raised money from TPG for its electrification push, has urged Indian government officials …
Tata Motors may look at hybrids if demand is strong, CFO says Read More »
MUMBAI (Reuters) – Nearly 300 small Indian banks which were forced to go offline a day earlier due to a ransomware attack were back online on Thursday, the National Payments Corporation of India, an authority that oversees payments systems, said. The attack had affected C-Edge Technologies, a technology service provider to the banks. India has …
Small Indian banks back online after ransomware attack, payments authority says Read More »
By Nikunj Ohri and Haripriya Suresh NEW DELHI (Reuters) – Indian authorities may issue notices soon to more major IT services firms in an investigation of alleged tax evasion related to work done by their overseas offices, a government source said on Thursday, a day after Infosys was slapped with a $4 billion tax demand. …
After $4 billion Infosys demand, India may target other IT majors, source says Read More »
