Reuters India Business

By Neha Arora NEW DELHI (Reuters) – India is unlikely to impose tariffs on exports of low-grade iron ore for now despite rising overseas sales to China, a source with direct knowledge of the matter said, turning down requests from small steel producers. China typically accounts for more than 90% of overall shipments of iron …

India unlikely to impose export curbs on low-grade iron ore, source says Read More »

(Reuters) – Ambuja Cements, India’s second-largest cement maker by market capitalisation, reported on Wednesday a smaller-than-expected profit rise in the fourth quarter as lower prices weighed. WHY IT’S IMPORTANT Cement makers are expected to report subdued income from sales in the reported quarter, owing to a nearly 5% decline sequentially in cement prices across India. …

India’s Ambuja Cements misses Q4 profit estimate on lower prices Read More »

NEW DELHI (Reuters) -India collected a record 2.10 trillion rupees ($25.15 billion) as gross goods and services tax (GST) in April, a rise of 12.4% from the same period last year, the government said in a statement on Wednesday. The government had collected 1.87 trillion rupees as GST in the same period last year. “GST …

India collects record 2.10 trillion rupees as goods and services tax in April Read More »

BENGALURU (Reuters) – India’s Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries, according to a filing late on Tuesday. The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the …

India’s Godrej family agrees to split conglomerate into two Read More »

By Arpan Chaturvedi and Shivam Patel NEW DELHI (Reuters) -An Indian state regulator has suspended manufacturing licences of 14 products made by pharmaceutical companies of the country’s most popular yoga guru for repeatedly publishing misleading advertisements about their efficacy, a government order showed. The order is the latest setback for Baba Ramdev whose TV shows, …

Indian state suspends licences of 14 products of yoga guru in latest setback Read More »

By Florence Tan and Nidhi Verma (Reuters) – Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner’s first oil purchase from Canada’s new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from …

Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say Read More »

BENGALURU (Reuters) – Bahrain-based Investcorp will buy the digital technology services business of India’s National Stock Exchange (NSE) for $120 million, the alternative investment firm said on Monday, in its biggest deal in the country. NSEIT Ltd, the digital technology arm of India’s largest stock market operator, offers services in areas including cybersecurity, digital transformation …

India’s National Stock Exchange to sell digital tech unit to Investcorp for $120 million Read More »