Reuters India Business

BENGALURU (Reuters) -India’s GMR Airports Infrastructure said on Monday it increased its stake in the main airport in New Delhi to 74%, by buying out Frankfurt Airport operator Fraport’s 10% interest in a deal worth $126 million. The Airports Authority of India (AAI) will continue to hold its 26% stake in Delhi International Airport Ltd …

India’s GMR Airports raises stake in Delhi airport to 74% as Germany’s Fraport exits Read More »

By Vivek Mishra BENGALURU (Reuters) – Indian consumer inflation probably held below the Reserve Bank of India’s 4.0% medium-term target for a second month in August thanks to a moderation in food price rises due to last year’s high base, a Reuters poll of economists found. Although food prices, which make up nearly half the …

India inflation likely held steady at five-year low of 3.50% in August: Reuters poll Read More »

By Aditya Kalra and VarunVyas Hebbalalu NEW DELHI/BENGALURU (Reuters) -Indian electric two wheeler-maker Ather Energy has filed for a 45 billion rupee ($536.2 million) IPO at a valuation of $2.5 billion, a source with direct knowledge of the matter said on Monday, seeking to tap a red-hot stock market weeks after bigger rival Ola Electric …

Indian e-scooter maker Ather Energy files for $536 million IPO, source says Read More »

PARIS (Reuters) – French multinational retail giant Carrefour is launching a franchise partnership with Dubai-based Apparel Group to establish its presence in India. The partnership will be aimed at North India initially, with further expansion planned across the country and the first store openings expected in 2025, Carrefour said on Friday. WHY IT’S IMPORTANT With …

Carrefour teams up with Dubai’s Apparel Group to expand into India Read More »

By Ashwin Manikandan BENGALURU (Reuters) – Indian tax authorities are seeking dues of $101 million from education-technology company Byju’s, once the country’s biggest startup which is now undergoing an insolvency process, claim documents reviewed by Reuters on Friday showed. Backed by General Atlantic, Byju’s was valued at $22 billion in 2022, but has seen its …

Indian tax authorities seek $101 million in Byju’s insolvency process Read More »

(Reuters) – India’s fuel consumption in August fell by more than 2% year-on-year to 18.35 million metric tons, oil ministry data showed on Friday, with diesel demand hit due to above-normal monsoon rains. WHY IT IS IMPORTANT India is the third-largest consumer and importer of oil. The data is a proxy for the country’s oil …

India’s fuel demand dips 2.6% y/y in August, diesel demand drops Read More »

BENGALURU (Reuters) – India’s SpiceJet on Friday said it will convert about $97 million of its dues to the commercial aviation investment and servicing arm of Carlyle Group into equity and debentures. The restructuring plan comes as the budget airline has struggled to fully restore operations despite multiple fundraises over the last year. Late last …

Indian carrier SpiceJet restructures dues to Carlyle Aviation Read More »