Reuters India Business

TotalEnergies signs LNG agreements with Indian Oil Corp, Korea South-East Power

4 Jun 2024

SINGAPORE (Reuters) – French energy major TotalEnergies announced on Tuesday agreements with Indian Oil Corporation and Korea South-East Power for the supply of liquefied natural gas (LNG) over a medium to long term period. It signed a sales and purchase agreement with Indian Oil Corporation to deliver up to 800,000 metric tons per year of …

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Fairfax India appoints new CEO, chairman

3 Jun 2024

(Reuters) – Fairfax India Holdings Corp on Monday said that Gopalakrishnan Soundarajan will become the company’s CEO, effective July 1. Chairman Prem Watsa will also step down from his position, which will be taken over by Benjamin Watsa, the company said. (Reporting by Juby Babu in Mexico City; Editing by Maju Samuel)

IndiGo eyes lesser-known international destinations for next growth phase

3 Jun 2024

By Aditi Shah and Lisa Barrington DUBAI (Reuters) – IndiGo, India’s biggest airline, will focus its next phase of international expansion on lesser-known destinations while increasing its presence in popular markets such as Singapore and Dubai, its CEO told Reuters on Monday. The budget carrier made a successful push into central Asia last year with …

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India markets rejoice exit poll prediction for a Modi landslide

3 Jun 2024

By Bharath Rajeswaran and Ankur Banerjee MUMBAI/SINGAPORE (Reuters) -Indian shares hit lifetime highs while the rupee gained and bond yields dropped, as investors were buoyed by expectations of sustained economic growth after exit polls indicated a decisive mandate and a third term for Prime Minister Narendra Modi. Weekend exit polls projected the alliance led by …

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Infosys CEO’s compensation rose 17% to $7.9 million in FY 2024

3 Jun 2024

BENGALURU (Reuters) – Infosys CEO Salil Parekh’s compensation rose 17.3% to 662.4 million rupees ($7.9 million) in fiscal year 2024, making him one of the highest paid Indian IT chiefs currently occupying office. The longest-serving non-founder CEO at the tech firm took home 74.7 million rupees in total fixed pay and 197.5 million rupees in …

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Modi’s BJP retains power in Indian state bordering China

3 Jun 2024

By Tora Agarwala Guwahati,India (Reuters) -Indian Prime Minister Narendra Modi’s Bharatiya Janata Party has won the regional vote in Arunachal Pradesh, a state bordering China, while a local party swept to power in Sikkim, a Himalayan state, officials and politicians said on Sunday. Provincial elections in Arunachal Pradesh and Sikkim were held on April 19, …

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Indian eyewear retailer Lenskart raises $200 million from Temasek and Fidelity

3 Jun 2024

BENGALURU (Reuters) – Indian eyewear retailer Lenskart has raised $200 million from Singapore state investment firm Temasek and Fidelity Management and Research Company, according to Avendus Capital, the financial advisor of the deal. While Avendus did not mention additional financial details in its statement on Monday, news website TechCrunch said that the deal valued SoftBank-backed …

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India’s blue-chips hit record highs led by financials, energy on hopes of Modi victory

3 Jun 2024

By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares surged to record highs on Monday, led by financials and energy stocks, after exit polls over the weekend projected a third term for Prime Minister Narendra Modi’s government in the recently-concluded general elections. The NSE Nifty 50 was up 2.77% at 23,157.15 points, while the S&P BSE …

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India’s May factory growth slipped to 3-month low but remained sturdy, PMI shows

3 Jun 2024

By Shaloo Shrivastava BENGALURU (Reuters) – India’s manufacturing growth slowed to a three-month low in May as a heatwave prompted some companies to reduce working hours, but factory activity remained robust overall, bolstered by strong international sales, a business survey showed on Monday. Asia’s third-largest economy often sees high temperatures during May and they soared …

India’s May factory growth slipped to 3-month low but remained sturdy, PMI shows Read More »

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