Reuters India Business

By M. Sriram MUMBAI (Reuters) -Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday. SoftBank-backed Ola is India’s answer to Uber and plans to file papers for approval …

Exclusive-India’s Ola Cabs plans $500 million IPO, to appoint banks soon, sources say Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee recovered after slipping to a record low on Friday, on likely intervention by the central bank and comments by an Iranian official that there was no missile attack on the country. The rupee was at 83.5175 to the U.S. dollar at 11:15 a.m. IST, marginally up …

Rupee off record low on likely central bank intervention, Iranian official’s comment Read More »

By Nidhi Verma NEW DELHI (Reuters) – Russia became the top oil supplier to India during the fiscal year 2023/24 for a second year in a row, squeezing the market share of Middle Eastern and OPEC producers to historic lows, ship tracking data from industry sources showed. New Delhi has been gorging on Russian oil …

Russia squeezes Mideast, OPEC shares in India’s oil market to historic lows Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined on Friday, tracking Asian peers, on worries of escalating tensions in the Middle East, while a post-earnings drop in software services firm Infosys pulled down information technology stocks. The NSE Nifty 50 was down 0.51% at 21,883.25 as of 10:15 a.m. IST, while the S&P BSE Sensex …

Middle East worries weigh down Indian shares; Infosys drags IT stocks Read More »

By Rishika Sadam HYDERABAD (Reuters) – Indian drugmaker Biocon, looking to grab a piece of the exploding weight-loss drug market as early as possible, is developing its own version of Novo Nordisk’s wildly popular Wegovy and is prepared to conduct a clinical trial next year if needed, the CEO told Reuters. Wall Street has forecast …

India’s Biocon developing its own version of Wegovy, clinical trial likely next year Read More »

By Haripriya Suresh and Sai Ishwarbharath B BENGALURU (Reuters) -India’s No.2 software services exporter Infosys forecast annual revenue below expectations on Thursday as global macroeconomic uncertainty pressures client spending on discretionary projects. The news pulled down its U.S.-listed shares as much as 6% and raised concerns about future demand for the $254 billion Indian IT …

India’s Infosys forecasts downbeat revenue as spending falters Read More »

By Jayshree P Upadhyay MUMBAI (Reuters) – India’s BSE became the latest victim of deepfakes after a morphed video clip of the stock exchange’s CEO giving investment and stock advice surfaced on a social media platform. “It has come to our notice that some fake, unauthorized and fraudulent videos and audios created through innovative and …

After NSE, BSE cautions investors on CEO’s deepfake videos Read More »

By Shivangi Acharya, Sarita Chaganti Singh and Aditi Shah NEW DELHI (Reuters) -India’s Tata Motors plans to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, two Indian government sources said. Tesla is also expected to start importing …

Tata plans Jaguar Land Rover EV imports to India under new policy, sources say Read More »

By Shivangi Acharya, Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – India’s Tata Motors is planning to manufacture Jaguar Land Rover (JLR) luxury cars at a $1 billion plant that it is planning to build in the southern state of Tamil Nadu, two sources with direct knowledge of the plans said. Tata Motors announced …

Tata Motors to use new $1 billion plant to make Jaguar Land Rover cars, sources say Read More »