Reuters India Business

Indian electric aircraft startup ePlane to supply air ambulances in over $1 billion deal

17 Feb 2025

By Nandan Mandayam (Reuters) – The ePlane Company, an Indian electric aircraft startup, said on Monday it has agreed to supply 788 air ambulances in a deal valued at more than $1 billion, at a time when the country is grappling with worsening traffic congestion in busy cities. Under the non-binding agreement, it will supply …

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Owens Corning to exit glass reinforcements business in $755 million deal

14 Feb 2025

(Reuters) – Construction equipment maker Owens Corning said on Friday it has agreed to sell its glass reinforcements business to India-based Praana Group in a deal valued at $755 million. The deal helps Owens Corning shift its focus on residential and commercial building products in North America and Europe. Owens Corning’s glass reinforcements business generated …

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India slashes bourbon whisky tariffs amid intensifying Trump criticism

14 Feb 2025

NEW DELHI (Reuters) -India has slashed tariffs on bourbon whisky to 100% from 150%, a move that will benefit imports of brands like Suntory’s Jim Beam, after U.S. President Donald Trump’s criticised “unfair” levies in the South Asian market. Trump, who met Indian Prime Minister Narendra Modi at the White House this week, has railed …

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Indian industries see opportunity in Trump’s trade goals

14 Feb 2025

By Manoj Kumar and Shivangi Acharya NEW DELHI (Reuters) – Indian industry and trade experts see an opportunity to expand business with the U.S. after Prime Minister Narendra Modi met President Donald Trump, despite uncertainties over reciprocal tariffs and thanks to steps taken in the past few years. India and the U.S. agreed on Thursday …

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India’s Glenmark Pharma misses profit estimates on weak North America sales

14 Feb 2025

(Reuters) – India’s Glenmark Pharmaceuticals reported third-quarter profit below estimates on Friday due to bleak U.S. demand for its long-term illness drugs. The drugmaker reported a consolidated net profit of 3.48 billion rupees ($40.15 million) for the quarter ended December 31, compared with analysts’ estimate of 3.64 billion rupees, as per data compiled by LSEG. …

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Institutional buyers haul Hexaware’s India IPO over the line as stock market bleeds

14 Feb 2025

By Nandan Mandayam (Reuters) – Indian IT exporter Hexaware Technologies’ [HEXW.NS] $1 billion initial public offering was fully subscribed in the final hours of the share sale on Friday, driven largely by institutional buyers as others held back amid a broader market slide. The company is targeting a valuation of 430 billion rupees ($4.96 billion) …

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India’s RBI to enhance liquidity next week to cover for tax outflows

14 Feb 2025

By Dharamraj Dhutia MUMBAI (Reuters) – The Reserve Bank of India will step up its liquidity infusion and inject over $16 billion next week into the banking system, which will see large outflows owing to tax payments. The RBI has doubled the quantum of government securities it aims to purchase to 400 billion rupees ($4.61 …

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India’s central bank supersedes board of New India Co-operative Bank

14 Feb 2025

By Siddhi Nayak MUMBAI (Reuters) – India’s central bank said on Friday it has taken control of the board of New India Co-operative Bank for 12 months, a day after its depositors were barred from withdrawing money from the lender. The action, taken only in situations where depositors’ interests are at risk, came after the …

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Indian small-caps stocks in a bear market, with analysts expecting more pain through March

14 Feb 2025

By Bharath Rajeswaran and Vivek Kumar M (Reuters) – Indian small-cap shares have tumbled more than 20% from their record closing high, confirming they are in a bear market, with analysts expecting a further 5% drop by the end of March. A perfect storm of weaker economic growth, foreign outflows and fears of slower inflows …

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United Breweries expects further price hikes in India’s top beer-consuming state

14 Feb 2025

(Reuters) – United Breweries may raise beer prices further in India’s Telangana, a top official said, days after the country’s largest beer-consuming state permitted brands to do so for the first time in five years. The southern Indian state’s decision on Tuesday came as a much-needed reprieve for the company, which had briefly halted its …

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