By Aditya Kalra NEW DELHI (Reuters) – France’s Pernod Ricard conducted an internal investigation into alleged discounting malpractices in India’s western state of Rajasthan, and has sacked at least six mid-level employees, two company sources with direct knowledge of the probe said. The alleged malpractices add to a range of compliance and regulatory challenges for …
By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) -Elon Musk’s Tesla has resumed its search for showroom space in New Delhi, two sources told Reuters, in the first sign it is rethinking entering the Indian market after putting its investment plans on hold earlier this year. Musk said in April he would meet Indian …
Tesla restarts search for New Delhi showroom with India’s DLF, sources say Read More »
By Anushree Mukherjee and Anjana Anil (Reuters) – Gold prices hit a two-week high on Tuesday, underpinned by rising geopolitical tensions and expectations of a third U.S. rate cut by the Federal Reserve next week, while the market’s gaze shifted to Wednesday’s U.S. inflation data. Spot gold was up 1.3% at $2,692.32 per ounce at …
Gold hits two-week high in the run-up to US inflation data Read More »
(Reuters) -Upper Crust owner SSP Group said on Tuesday that it is planning an initial public offering in India of airport lounge operator Travel Food Services, its venture with K Hospitality Corp. The company said that a draft red herring prospectus has been filed in connection to the proposed IPO with BSE Ltd and will …
Upper Crust owner SSP plans for Indian IPO of Travel Food Services Read More »
By Swati Bhat MUMBAI (Reuters) – Restoring a balance between inflation and growth in India remains an important task for the Reserve Bank of India, the outgoing central bank governor, Shaktikanta Das, said. “The inherent potential of the Indian economy to grow is very much there,” Das said, ahead of leaving office later on Tuesday. A …
India’s outgoing cenbank chief stresses importance of restoring growth-inflation balance Read More »
(Reuters) -The Reserve Bank of India (RBI) has approved billionaire Burman family’s plan to buy more shares in financial services provider Religare Enterprises, the company said in an exchange filing on Tuesday. The Burmans, who founded and control consumer goods conglomerate Dabur India, raised their stake in Religare to nearly 25% in September last year, …
India’s Burman family gets RBI nod to raise stake in Religare Read More »
(Reuters) – India’s markets regulator on Tuesday expanded the scope of optional same-day settlement cycle, increasing the number of eligible stocks and setting a clear implementation timeline. The Securities and Exchange Board of India (SEBI) announced that effective Jan. 31, 2025, the optional same-day or T+0 settlement cycle will be available for the top 500 …
India markets regulator to allow optional same-day settlement for 500 stocks Read More »
By Jaspreet Kalra and Dharamraj Dhutia MUMBAI (Reuters) – The Indian rupee slipped to a record low and government bond prices rose on Tuesday, as the appointment of career bureaucrat Sanjay Malhotra as the next Reserve Bank of India (RBI) governor raised expectations of rate cuts. The rupee fell to 84.8575 per U.S. dollar, and …
Indian rupee hits record low, bonds rise as change of guard at RBI spurs rate cut bets Read More »
(Reuters) – Amazon will begin trials for quick commerce operations in India that would see the U.S. e-commerce giant deliver grocery items in 15 minutes or less, it said on Tuesday. Quick commerce is catching up in India, with companies like Zomato’s Blinkit and SoftBank-backed Swiggy’s Instamart promising deliveries of goods from groceries to electronics …
Amazon joins India’s quick commerce race with trials for 15-minute grocery delivery Read More »
By Bharath Rajeswaran and Indranil Sarkar (Reuters) -Indian shares ended largely flat on Tuesday as investors awaited key inflation data from India and the United States this week for clues on interest rate cuts in the two countries. The NSE Nifty 50 shed 0.04% to 24,610.05 points, while the BSE Sensex settled flat at 81,510.05. …
Indian shares end flat ahead of US, domestic inflation data Read More »
