By Nikunj Ohri NEW DELHI (Reuters) – India’s new income tax bill proposes sweeping powers for authorities to access taxpayers’ emails, trading and social media accounts during searches, activities which are not covered in the current tax law. Indian Finance Minister Nirmala Sitharaman presented a revamped and condensed version of the income tax law in …
By Sai Ishwarbharath B and Haripriya Suresh MUMBAI (Reuters) – India’s quick-commerce frenzy, which has boosted the fortunes of delivery firms such as Zomato and SoftBank-backed Swiggy, is not sustainable in the long run, a top Indian private equity fund’s chief said. “These are passing fads and fantasies,” TVS Capital Funds Chairman Gopal Srinivasan, who …
India’s quick-commerce frenzy is unsustainable, TVS Capital Fund chief says Read More »
(Reuters) – Hindalco Industries, one of India’s largest aluminium and copper producers, reported a better-than-expected third-quarter profit on Thursday, helped by higher aluminium prices. The Aditya Birla Group-owned company’s consolidated net profit surged 60.2% to 37.35 billion rupees ($429.5 million) in the quarter ended December 31. Analysts, on average, had expected 35.73 billion rupees profit, …
India’s Hindalco Industries beats quarterly profit view on improved aluminium prices Read More »
By Shariq Khan and Mohi Narayan NEW DELHI (Reuters) – India’s state-run refiner Bharat Petroleum Corp plans to buy propane and butane from Norwegian energy giant Equinor Plc, Indian energy minister Hardeep Singh Puri said on Thursday. The two companies this week signed a preliminary deal, he told a news conference. The agreement, which has …
India’s BPCL signs LPG supply deal with Norway’s Equinor Read More »
By Mrinalika Roy NEW DELHI (Reuters) – Top Indian power producer NTPC is in talks with foreign firms including those from Russia and the U.S. for construction of small nuclear reactors, a top executive said on Thursday. Talks for these small modular reactors (SMR) – which have simpler designs than traditional large nuclear plants and …
India’s NTPC in talks with foreign nuclear firms for small reactors Read More »
By Sethuraman N R and Shariq Khan NEW DELHI (Reuters) – India’s plan to boost the share of natural gas in its energy mix hinges on lower global liquefied natural gas (LNG) prices that will make gas-fired electricity generation more competitive, industry officials said this week. The world’s fourth largest LNG importer aims to raise …
India’s natural gas use target hinges on higher gas-fired power generation Read More »
(Reuters) – Tata Motors, India’s EV market leader, said on Thursday it will more than double its charging points to 400,000 over the next two years to address concerns over range and inadequate charging infrastructure that have dogged EV sales. That effort would see the company and its electric vehicle charger operators, including Tata Power …
India’s Tata Motors plans to more than double EV charging stations Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -Google’s head of public policy in India, Sreenivasa Reddy, has quit, a company spokesperson told Reuters on Thursday, marking the second departure in around two years in the critical role in a key market for the company. Reddy, a former Microsoft and Apple executive in India, …
Google loses second India policy head in as many years Read More »
By Nivedita Bhattacharjee BENGALURU (Reuters) – India has expanded its Gaganyaan human spaceflight mission to include building and operating a national space station, planning two crewed and six uncrewed missions by 2028, a minister said on Thursday. Gaganyaan, meaning “sky craft” in Hindi, is India’s first human spaceflight mission. It aims to launch a habitable …
India raises budget for Gaganyaan human spaceflight mission to $2.32 billion Read More »
BENGALURU (Reuters) – Indian gold loan financier Manappuram Finance reported a third-quarter profit that missed analysts’ estimates on Thursday, hurt by the stress in its microfinance business, including a quarter-long ban from issuing loans. The company’s consolidated net profit halved to 2.82 billion rupees ($32.5 million) in the quarter, missing analysts’ average estimate of 4.59 …
India’s Manappuram Finance falls short of profit estimates on microfinance unit woes Read More »
