Reuters India Business Archives - Page 5 of 729

Tata Power to invest up to $9 billion to expand renewable energy capacity

17 Sep 2024 17 Sep 2024

GUJARAT (Reuters) – India’s Tata Power plans to invest about 700-750 billion rupees ($8.95 billion) to expand its renewable energy capacity over the next five to six years, Chief Executive Officer Praveer Sinha said on Tuesday. The company expects 15 gigawatt of more renewable capacity addition by 2030, added Sinha. ($1 = 83.8250 Indian rupees) …

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Prospect of big Fed rate-cut keeps gold at record levels

16 Sep 2024 16 Sep 2024

By Anushree Ashish Mukherjee (Reuters) – Gold prices extended gains to an all-time high on Monday, supported by a weaker dollar and the prospect of a big rate reduction by the U.S. Federal Reserve at its policy meeting this week. Spot gold was up 0.2% at $2,581.37 an ounce by 2:32 p.m. ET (1832 GMT), …

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India’s market watchdog chief is addressing conflict of interest claims, Finance Minister says

16 Sep 2024 16 Sep 2024

NEW DELHI (Reuters) – The head of India’s market regulator and her husband are answering allegations of conflict of interest raised by the main opposition Congress party, and the facts have to be “taken on board”, Finance Minister Nirmala Sitharaman said on Monday, Securities and Exchange Board of India chair Madhabi Puri Buch has faced …

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India to add record renewables this year as green push gains momentum

16 Sep 2024 16 Sep 2024

By Sethuraman N R GANDHINAGAR, India (Reuters) – India will connect a record 35 gigawatts (GW) of solar and wind energy capacity to its grid during the year ending March 2025, a top bureaucrat told Reuters, as it scrambles to achieve its 2030 clean energy target after falling short of a much publicised 2022 renewables …

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Mercedes-Benz sees more Indian buyers choosing EVs as first luxury car

16 Sep 2024 16 Sep 2024

By Aditi Shah NEW DELHI (Reuters) – Mercedes-Benz is seeing a rise in the number of Indian buyers opting for electric vehicles as their first luxury car, the country’s managing director told Reuters, a trend that is helping the German carmaker boost their sales. Sales of luxury cars in India are surging helping market leader …

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Bajaj Housing Finance’s value doubles to $16 billion in fourth-best Indian market debut this year

16 Sep 2024 16 Sep 2024

By Dimpal Gulwani and Bharath Rajeswaran BENGALURU (Reuters) -Bajaj Housing Finance’s shares more than doubled in their trading debut on Monday, making it the fourth-best major listing in a red-hot Indian IPO market this year and valuing the company at $16 billion, nearly triple the next-biggest rival. The blockbuster listing follows strong demand for its …

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India markets regulator to address employee complaints internally

16 Sep 2024 16 Sep 2024

By Jayshree P Upadhyay MUMBAI (Reuters) – India’s markets regulator on Monday withdrew comments saying “outside elements” instigated complaints of a toxic work environment by its employees, and said it would address the issues “amicably and internally.” Last month, 500 employees of the Securities and Exchange Board of India (SEBI) wrote to India’s federal finance …

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Adani Power wins joint bid for 25-year power deal to supply Maharashtra state

15 Sep 2024 15 Sep 2024

(Reuters) – Adani Power and Adani Green Energy have won a combined bid to supply 6,600 MW of renewable and thermal power to Maharashtra state for 25 years, the companies said in a joint statement. Adani Green Energy’s wind-solar plant in Jaisalmer in Rajasthan state has been supplying Mumbai, the capital of Maharashtra state, with …

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Adani Green Energy names Saurabh Shah as new CFO

14 Sep 2024 14 Sep 2024

(Reuters) – India’s Adani Green Energy on Saturday said Saurabh Shah, now deputy chief financial officer of Adani Enterprises, would assume the role of CFO at Adani Green Energy, replacing Phuntsok Wangyal, who will step down effective Sept 30. (This story has been corrected to fix the current position of Shah to deputy chief financial …

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Oil India aims to operate Numaligarh refinery at 180,000 bpd capacity by 2027

14 Sep 2024 14 Sep 2024

(Fixes headline) By Nidhi Verma NEW DELHI (Reuters) -State-run explorer Oil India Ltd hopes to operate its refinery in the northeastern state of Assam at an expanded capacity of 180,000 barrels per day (bpd) in the fiscal year to March 2027, Chairman Ranjit Rath said on Saturday. Oil India’s subsidiary Numaligarh Refinery Ltd (NRL) is …

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