Reuters India Business

By Haripriya Suresh and Sai Ishwarbharath B BENGALURU (Reuters) -India’s No.3 IT services provider HCLTech reported a 6.7% rise in first-quarter revenue on Friday, and projected growth in most verticals and geographies in the current quarter. The forecast follows largely upbeat results from top IT firm Tata Consultancy Services a day earlier, which sparked expectations …

HCLTech projects growth as Indian IT industry bets on cautious recovery Read More »

By Aditya Kalra NEW DELHI (Reuters) – An investigation by India’s antitrust body has found that Apple exploited its dominant position in the market for app stores on its iOS operating system, engaging “in abusive conduct and practices”, a confidential report seen by Reuters showed. The Competition Commission of India (CCI) has been investigating Apple …

Exclusive-India antitrust probe finds Apple abused position in apps market Read More »

By Shivangi Acharya and Sarita Chaganti Singh NEW DELHI (Reuters) -India’s retail inflation rate rose for the first time in five months in June due to a sharp rise in food prices, government data showed on Friday. Annual retail inflation was 5.08% in June, up from 4.75% in May. Economists polled by Reuters had forecast …

India’s retail inflation reignites in June as food prices surge Read More »

(Reuters) -Adani Ports expects to complete the first of four phases of a key transshipment container port in southern India this year, it said on Friday, firming the timeline for a project already delayed by six years due to protests by locals. The Vizhinjam deep-sea port at the southern tip of the country is of …

India’s Adani aims to complete phase one of long-delayed port by year-end Read More »

By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) – India plans to overhaul more than 200 state-run firms to make them more profitable, signalling a departure from Prime Minister Narendra Modi’s aggressive privatisation programme that has struggled to take off, government sources said. The programme to privatise a major portion of India’s lumbering $600 …

Exclusive-India’s Modi departs from privatisation plans, will overhaul state-run firms, sources say Read More »

By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – Indian banks are set to raise around 400 billion rupees ($4.79 billion) through infrastructure bonds in July and August, potentially setting a record for the second consecutive year, according to five merchant bankers on Friday. If successful, funds raised via these bonds in the first five …

Indian banks eye record infra bond issue for second straight fiscal year Read More »

By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -Indian shares rose to record highs on Friday, led by IT stocks after heavyweight Tata Consultancy Services beat quarterly revenue estimates and as fresh U.S. economic data boosted hopes of rate cut in September. The NSE Nifty 50 rose 1.14% to a record high of 24,592.20 as …

Indian shares surge to record highs led by IT Read More »

By Kashish Tandon BENGALURU (Reuters) – Tata Consultancy Services’ shares gained nearly 3% on Friday, a day after India’s top IT services firm reported first-quarter results that signalled early signs of revival for a sector that has been grappling with sluggish demand. The gains pushed the IT index up 3.4%, its highest level since January …

India’s TCS jumps after Q1 results indicate ‘worst is over’ Read More »