(Reuters) – Indian grocery startup Zepto said on Thursday it has raised $340 million in a fresh round, just two months after its last fundraise. In the latest round led by General Catalyst, the three-year-old company was valued at $5 billion, a sharp rise from $3.6 billion in June. Zepto, which raised more than $1 …
India’s Zepto raises $340 million at $5 billion valuation Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices gained around 1% on Thursday, fuelled by strong expectations of a Federal Reserve rate cut in September with investors focusing on U.S. inflation data for further insights on the potential size of the cut. Spot gold rose 0.9% to $2,524.45 per ounce by 1:52 p.m. ET (1752 …
Gold gains nearly 1% as investors zero in on Fed cuts, inflation data Read More »
BENGALURU (Reuters) -India’s aviation watchdog has issued a show cause notice to Akasa Airlines over several regulatory breaches identified during a recent review, the Directorate General of Civil Aviation (DGCA) said in a statement on Thursday. Akasa Air, which started flying international in March, was found to be non-compliant with civil aviation regulations and Rule …
India’s aviation watchdog issues show cause notice to Akasa Air Read More »
NEW DELHI/BENGALURU (Reuters) -India’s aviation watchdog said it has placed budget airline SpiceJet under enhanced surveillance with immediate effect after a recent audit revealed “certain deficiencies”. Thursday’s move came three weeks after the Directorate General of Civil Aviation conducted a special audit following reports of flight cancellations and financial troubles. “This would entail increase in …
India’s aviation watchdog puts SpiceJet under enhanced surveillance Read More »
By Rajendra Jadhav MUMBAI (Reuters) -India will allow sugar mills to use cane juice or syrup to produce ethanol in the new marketing year starting Nov. 1, the government said in a notification on Thursday. The world’s second-biggest sugar producer imposed restrictions on diverting sugar for ethanol production in December 2023 to increase sugar output …
By Indranil Sarkar and VarunVyas Hebbalalu BENGALURU (Reuters) -India’s Reliance Industries is on track to more than double in size before the end of the decade, its billionaire-chairman Mukesh Ambani told shareholders on Thursday. Reliance, which is India’s most valuable company with a market capitalisation of $245.44 billion, said it expects to double sales and …
Ambani says India’s Reliance to more than double in size before end of decade Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes, the NSE Nifty 50 and S&P BSE Sensex, recovered from a sluggish start to reach record highs on Thursday, driven by strong performances in financial and information technology stocks. Both the indexes rose about 0.5% each to hit all-time high levels, as of 12:49 p.m. IST. “The …
Nifty, Sensex touch record highs as financials, IT gain Read More »
By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – India’s Axis Bank is set to join several other lenders in raising funds through infrastructure bonds and may announce the issue in September, three sources, including two merchant bankers, said. The Indian government’s strong capital expenditure push, with budget allocation at a record 11.11 trillion rupees …
India’s Axis Bank likely to issue infra bonds in September, sources say Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee edged up on Thursday, supported by stronger Asian currencies and anticipated MSCI-related inflows. The rupee traded at 83.9050 against the U.S. dollar at 10:52 a.m. IST, improving from 83.9525 in the previous session. Asian currencies rose between 0.1% and 0.4%, while the dollar index slipped to …
Renewed rally in Asia FX, potential inflows bring relief for rupee Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) – Walt Disney Co and Reliance Industries won approval from the Competition Commission of India (CCI) on Wednesday for an $8.5 billion merger of their Indian media assets after offering concessions relating to their grip on broadcasting rights for cricket, India’s favourite sport. Here are the …
Factbox-What were India’s antitrust concerns over Disney-Reliance deal Read More »
