Reuters India Business

Foreign investors turn to derivative proxies to gain exposure to Indian debt

12 Apr 2024

By Jaspreet Kalra and Dharamraj Dhutia MUMBAI (Reuters) – Overseas investors seeking exposure to India’s debt ahead of its inclusion in global benchmark indexes are using proxy instruments such as offshore swaps as they aim to overcome the country’s onerous investment regulations. Foreign investors have flocked to Indian government bonds ahead of their inclusion in …

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Vodafone Idea to launch $2.16 billion share sale in India’s biggest follow-on stock offering

12 Apr 2024

BENGALURU (Reuters) -Indian telecom operator Vodafone Idea said on Friday it would raise up to 180 billion rupees ($2.16 billion) later this month through a sale of new shares, in what will be the country’s biggest follow-on public offering (FPO). The debt-laden company said in February it would raise up to 200 billion rupees through equity, …

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Apple drops term ‘state-sponsored’ attacks from its threat notification policy

11 Apr 2024

BENGALURU (Reuters) -Apple Inc has warned its users in India and 91 other countries that they were possible victims of a “mercenary spyware attack,” dropping the word “state-sponsored” it used in its previous alerts to refer to such malware attacks. Apple discovered that attackers tried to “remotely compromise the iPhone,” it said in a notification …

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Beware of deepfake of CEO recommending stocks, says India’s National Stock Exchange

10 Apr 2024

(Reuters) – India’s National Stock Exchange (NSE) on Wednesday cautioned investors against deepfake videos of its chief executive giving stock recommendations. The exchange, the largest in the country, issued the warning after observing that the face and voice of CEO Ashishkumar Chauhan was being falsely used in some investment and stock advisory videos. “Such videos …

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Gold slips from record levels after hot US inflation data

10 Apr 2024

By Ashitha Shivaprasad (Reuters) – Gold prices slipped from record-high levels on Wednesday as the U.S. dollar and Treasury yields firmed after a stronger-than-expected inflation print softened expectations of an early U.S. rate cut. Spot gold fell 0.7% to $2,335.99 per ounce, as of 2:25 p.m. ET (1825 GMT). U.S. gold futures settled 0.6% lower …

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Musk to meet Modi in India; sources say announcement on investment likely

10 Apr 2024

By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -Tesla chief Elon Musk said he will visit India to meet Prime Minister Narendra Modi, and two sources told Reuters the billionaire entrepreneur is expected to make an announcement on investment and a factory in the country. “Looking forward to meeting with Prime Minister Narendra Modi …

Musk to meet Modi in India; sources say announcement on investment likely Read More »

Metals, energy stocks power India’s blue chips, mid-caps to record closing highs

10 Apr 2024

By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes and mid-cap stocks settled at record closing highs on Wednesday, led by metal and energy stocks on expectations of strong global demand, while investor focus turned to key U.S. inflation data. The NSE Nifty 50 was up 0.49% at 22,753.80, hitting an all-time high in intraday trade …

Metals, energy stocks power India’s blue chips, mid-caps to record closing highs Read More »

State-backed NIIF invests $200 million in network solutions provider iBUS

10 Apr 2024

BENGALURU (Reuters) – State-owned National Investment and Infrastructure Fund (NIIF) has invested $200 million in privately-held iBUS Network and Infrastructure to help the latter scale up its business, the two companies jointly said on Wednesday. The quasi-sovereign wealth fund has stepped up its investments in the infrastructure sector, including joining hands with Japan to launch …

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Apple’s India iPhone output hits $14 billion, Bloomberg News reports

10 Apr 2024

(Reuters) -Apple Inc has assembled $14 billion worth of iPhones in India in fiscal 2024, Bloomberg News reported on Wednesday. Apple now makes as much as 14% or about 1 in 7 of its marquee devices from India, the report said, citing people familiar with the matter. Foxconn assembled nearly 67% while Pegatron Corp made …

Apple’s India iPhone output hits $14 billion, Bloomberg News reports Read More »

India’s Vedanta surges to near two-year high on CLSA upgrade

10 Apr 2024

BENGALURU (Reuters) -Vedanta Ltd’s shares rose as much as 7.7% on Wednesday to their highest in nearly two years after CLSA upgraded the stock by two notches to “buy” from “underperform,” expecting the miner to benefit from an ongoing metal price surge. The company’s shares have increased nearly 40% so far this year, compared with …

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