SINGAPORE (Reuters) – India’s Torrent Power has issued a tender seeking supplies of liquefied natural gas (LNG) over a period of 10 years, two industry sources said on Monday. The utility is seeking delivery of six cargoes per year from 2027. The tender closes on August 16. (Reporting by Emily Chow; Editing by Varun H …
India’s Torrent Power seeks 10-year LNG supply from 2027, say sources Read More »
By Rajendra Jadhav MUMBAI (Reuters) -India will make a decision on sugar industry calls for a hike in the minimum selling price (MSP) in the coming days, a senior government official said on Saturday, adding that ethanol policies would be set before the start of the next season. India, the world’s largest sugar consumer, restricted …
India set to decide soon on sugar selling price, ethanol use Read More »
NEW DELHI (Reuters) -UltraTech Cement, India’s number one cement maker, said its board on Sunday approved a $472 million deal to gain control of India Cements, which will bolster its position in the country’s southern states. The deal comes as the country’s top cement makers vie to dominate a market that is expected to roughly …
UltraTech board approves deal to snare control of India Cement Read More »
MUMBAI (Reuters) – ICICI Bank, India’s second-largest private lender, reported a bigger-than-expected first-quarter profit on Saturday, helped by robust loan growth and healthy core lending income. The Mumbai-based lender’s standalone net profit, excluding subsidiaries, rose 14.6% to a record 110.6 billion rupees ($1.32 billion) in the April-June quarter. That exceeded analysts’ average estimate of 105.61 …
India’s ICICI Bank beats Q1 profit view on strong loan growth Read More »
NEW DELHI (Reuters) -SoftBank-backed Ola Electric’s IPO will open for retail subscription on Aug. 2, the Indian electric scooter maker said on Saturday, a stock offering that according to two sources will value the company between $4.2 billion to $4.4 billion. The issue, which will open for institutional investors a day earlier on Thursday, will …
India’s Ola Electric to launch IPO next week, valuation seen at around $4.4 billion Read More »
BENGALURU (Reuters) -The Reserve Bank of India imposed a penalty of 24.1 million rupees (nearly $288,000) on Visa in relation to its usage of an unauthorised payment transfer method, the central bank said on Friday. “It was observed that the entity (Visa) had implemented a payment authentication solution without regulatory clearance from RBI,” the central …
India’s central bank fines Visa for unauthorised payment method Read More »
BENGALURU (Reuters) – India’s markets regulator on Friday barred business tycoon Vijay Mallya from trading in the country’s securities market and from associating with any listed company for three years. The Indian government has been trying to extradite Mallya, 68, who lives in Britain, to face charges of fraud resulting from the collapse of his …
India’s markets regulator bars tycoon Vijay Mallya from securities trading for 3 years Read More »
By Rahul Paswan and Brijesh Patel (Reuters) – Gold prices rose 1% on Friday as U.S. Treasury yields fell on optimism for an interest rate cut by the Federal Reserve in September after data showed U.S. prices rose modestly in June. Spot gold rose 0.8% to $2,382.98 per ounce by 1741 GMT, after hitting its …
Gold rises as yields slip after US data lifts rate-cut hopes Read More »
BENGALURU (Reuters) – State-run energy transmission company Power Grid Corp of India posted a 3.5% rise in first-quarter profit on Friday, helped by falling expenses. Power Grid’s consolidated net profit rose to 37.24 billion Indian rupees ($444.91 million) in the quarter ended June 30, from 35.97 billion rupees a year ago. Revenue from operations fell …
Power Grid Corp of India posts higher Q1 profit as expenses fall Read More »
By Nandan Mandayam and Meenakshi Maidas BENGALURU (Reuters) -IndiGo said it expects the number of aircraft grounded due to Pratt & Whitney engine issues to decrease by early next year, with the Indian airline also reporting its first quarterly profit fall in nearly two years. A rare powder metal defect in Pratt & Whitney engines …
IndiGo says groundings due to Pratt engine issues to decrease by next year Read More »
