BENGALURU (Reuters) -Tata group-owned Air India has confirmed an order for 100 Airbus aircraft, the two companies said on Monday, as part of a multi-billion-dollar plan to turn itself into a leading global airline. In October, Airbus announced an order for 75 A320 jets and 10 A350s by an unnamed customer, which sources said was …
Air India confirms order for another 100 Airbus jets Read More »
By Nikunj Ohri and Aftab Ahmed NEW DELHI (Reuters) -India appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy. Financial markets had expected current governor Shaktikanta Das to be handed a second extension when his …
India names Sanjay Malhotra to replace Das as central bank governor Read More »
NEW DELHI (Reuters) – India’s Mahindra and Mahindra said on Saturday it would rename its latest electric car, a significant move after aviation market leader IndiGo sued the automaker for use of its call sign and widely used brand name “6E”. While trademark infringement cases are common in India, legal disputes between big publicly traded …
India’s M&M renames electric car amid aviation giant IndiGo’s trademark challenge Read More »
(Reuters) – Indian power producer Continuum Green Energy filed for an initial public offering worth 36.5 billion rupees ($430.26 million) on Monday, as it looks to cash in on the country’s growing clean energy needs. WHY IT’S IMPORTANT The renewable energy sector is rapidly expanding in India, where most power demand is still met with …
Continuum Green Energy files for $430 million India IPO Read More »
(Reuters) -India’s Adani Group will invest over 7.5 trillion rupees ($88.5 billion) in the northwestern state of Rajasthan, a top executive said on Monday, marking the group’s first major investment since the U.S. indictment of its billionaire founder. The announcement, at an event in Jaipur city attended by Prime Minister Narendra Modi, comes less than …
Adani announces $88 billion India investment plan, first since US indictments Read More »
(Reuters) -Vodafone Idea will raise up to 19.80 billion rupees ($233.8 million) through the issue of preferential shares, the Indian telecom company said on Monday. Vodafone Idea said it will issue shares to Vodafone Group entities Omega Telecom Holdings and Usha Martin Telematics worth up to 12.8 billion rupees and 7 billion rupees, respectively. The …
Indian telco Vodafone Idea to raise $234 million via share issue Read More »
(Reuters) – Indian carmaker Tata Motors said on Monday it will hike prices of its cars, including electric vehicles, by up to 3% from January, joining a slew of automakers that raised prices to battle rising costs. WHY IT’S IMPORTANT Indian automakers are grappling with rising costs due to strong global commodity prices, high import …
India’s Tata Motors to hike prices by up to 3% from January Read More »
(Reuters) – CE Info Systems, the parent firm of digital maps provider MapmyIndia, said on Monday that it has scrapped plans to invest in a company being set up by its outgoing CEO after receiving investor feedback, with its shares closing 16% higher. MapmyIndia powers Apple Inc’s maps in the country and garners 99% of …
MapmyIndia parent scraps plan to invest in outgoing CEO’s company, shares surge Read More »
By Bharath Rajeswaran and Indranil Sarkar (Reuters) -India’s benchmark indexes inched lower on Monday, dragged by consumer stocks on Godrej Consumer Products’ bleak third-quarter forecast and auto stocks after data showed a drop in car sales last month. The NSE Nifty 50 fell 0.24% to 24,619 points, while the BSE Sensex shed 0.25% to 81,508.46, …
Consumer, autos stocks drag India’s benchmarks lower Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s antitrust body has asked the Supreme Court to hear legal challenges to an investigation of Amazon and Walmart’s Flipkart e-commerce platforms, saying those challenges, filed by Samsung, Vivo and others at Indian high courts, were aiming to scuttle the probe. In a filing on Dec. 3, reviewed …
India antitrust body seeks Supreme Court hearing to expedite Amazon, Flipkart cases Read More »
