By Sarita Chaganti Singh and Shivangi Acharya NEW DELHI (Reuters) – India and Oman will sign a trade deal in the coming months, two Indian government officials said, as New Delhi seeks to expand its ties in the Middle East, where rising tensions are putting major shipping routes at risk. “It will help India with …
India set to sign trade deal with Oman to expand its Middle East ties Read More »
(Reuters) – India’s crude oil imports in March fell by 1.1% from a year earlier to 20.69 million metric tons, government data released on Friday showed. Data from the Petroleum Planning and Analysis Cell’s (PPAC) website also showed imports of crude oil products dipped nearly 12% to 3.83 million tons on a yearly basis, while …
India’s March crude oil imports ease 1.1% from a year ago Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices held gains on Friday after data showed that U.S. inflation rose in line with expectations, but the safe-haven metal was on track for a weekly fall as some geopolitical risk premiums eased. Spot gold was 0.3% higher at $2,338.65 per ounce by 1:47 p.m. ET (1747 GMT). However, …
By Arpan Chaturvedi and Tanvi Mehta NEW DELHI (Reuters) -Lessors with aircraft stranded at Indian airline Go First can take back their planes, a local court ruled on Friday, nearly a year after the carrier declared bankruptcy. Foreign lessors have been locked in a legal tussle to repossess their planes after Go First was granted …
Go First court decision delivers big win for aircraft lessors Read More »
By Kashish Tandon BENGALURU (Reuters) -PE firm Advent International will invest 24.75 billion rupees (nearly $297 million) in Apollo Hospitals unit Apollo HealthCo and merge its online pharmacy business with pharmacy distributor Keimed, the hospital chain operator said on Friday. Advent will invest in compulsory convertible instruments in two tranches for a 12.1% stake in …
PE firm Advent to invest $297 million in India’s Apollo Hospitals unit Read More »
By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) -HCLTech, India’s No. 3 IT services player, reported smaller-than-expected fourth-quarter revenue on Friday, even as the company said it expected the current macroeconomic volatility tied to demand to continue into fiscal year 2025. The firm posted a 7.1% rise in revenue, to 284.99 billion rupees ($3.42 …
India’s HCLTech revenue tad lower than view, CEO signals persistent macro overhang Read More »
BENGALURU (Reuters) – India’s central bank on Friday released a set of criteria that small lenders need to achieve, including performance metrics and market listing, to become a universal bank and provide comprehensive services to both retail and corporate clients. The criteria include a five-year track record of satisfactory performance, a net worth of 10 …
India cenbank lays out roadmap for small lenders to achieve universal bank status Read More »
By Rama Venkat and Praveen Paramasivam BENGALURU/CHENNAI (Reuters) – Tata’s Trent is expected to have outperformed other Indian apparel chains last quarter, overcoming sluggish demand and restrained consumer spending by rapidly opening more of its youth-focussed, low-priced stores. Zudio, which sells everything from dresses to perfume at less than 999 rupees ($12), attracts young consumers …
Tata’s Trent to outshine Indian peers as low-priced apparel attract young buyers Read More »
BENGALURU (Reuters) – Tech Mahindra shares jumped 13.2% on Friday, their biggest intraday gain in nearly eight years, after India’s No.5 IT company announced a turnaround plan that offered succour following declining revenue growth for the past three quarters. The stock was up 8.6% at 1,292.25 rupees as of 11.48 a.m. IST, leading gains on …
Indian IT firm Tech Mahindra’s shares jump most in 8 years on turnaround plan Read More »
By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -India’s benchmark indexes were subdued on Friday as a slump in Bajaj Finance shares after a weak FY25 outlook dragged financials, outweighing gains in IT stocks. The NSE Nifty 50 was down 0.21% at 22,522.60 as of 11:15 a.m. IST, while the S&P BSE Sensex shed 0.26% …
Bajaj Finance drags down Indian benchmarks; IT stocks rally Read More »
