By Nandan Mandayam and Akash Sriram BENGALURU (Reuters) – India will need to keep subsidies for electric scooters for another few years to boost the switch from polluting motorbikes, the CEO of e-scooter maker Ather Energy told Reuters on Saturday. Industry experts believe subsidies such as cash incentives are crucial to India hitting its goal …
India must keep e-scooter subsidies to boost adoption, Ather CEO says Read More »
NEW DELHI (Reuters) – India’s largest real estate investment trust, Embassy Office Parks, said on Saturday it will raise 25 billion Indian rupees ($300 million) to fund its acquisition of an integrated office park and repay debt. Embassy, which manages over 45 million square feet (4.18 million square metres) of office parks, has clients including …
India’s Embassy REIT to raise $300 million to fund acquisition, lower debt Read More »
NEW DELHI (Reuters) – Tata Steel India recorded its highest annual crude steel production at 20.8 million metric tons in 2023/24, up 4% on year, according to provisional data released by the company. Tata Steel’s production in Netherlands was 4.8 million metric tons during 2023/24, down 24% on year, and production in UK was 3.02 …
Tata Steel India posts record annual crude steel output in 2023/24 Read More »
By Anjana Anil (Reuters) – Gold prices climbed on Friday to hit a fresh record high, as multiple factors including U.S. interest rate cut bets, speculative buying and central bank purchases kept bullion’s record rally active despite strong U.S. job growth in March. Spot gold gained 1.5% to $2,324.15 per ounce, as of 2:03 p.m. …
Gold shatters record highs, heads for third straight weekly gain on buying momentum Read More »
BENGALURU (Reuters) – Indian jeweller and watchmaker Titan said on Friday its revenue grew 17% in the fourth quarter, aided by strong demand for its jewelry products. Titan, a joint venture between salt-to-software conglomerate Tata Group and Tamilnadu Industrial Development Corp, saw a 19% growth from its domestic jewelry operations. It accounted for roughly 90% …
India’s Titan logs strong quarterly revenue growth on robust jewelery demand Read More »
(Reuters) -Electric-vehicle sales in India are expected to rise 66% this year after nearly doubling in 2023 as state subsidies help fuel demand and supporting infrastructure comes up in the country, according to research firm Counterpoint. WHY IT’S IMPORTANT The rapid growth in sales comes at a time when EV growth in other key markets …
India EV sales to rise 66% this year after nearly doubling in 2023, report says Read More »
By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) – Indian ed-tech startup Byju’s breached terms of loans worth $42 million and has been asked by an arbitrator not to sell some shares of a group firm, a confidential order showed, the latest setback for the company already battling allegations of mismanagement. Byju’s was India’s …
India ed-tech startup Byju breached loan terms, small stake sale blocked, order shows Read More »
BENGALURU (Reuters) – Indian consumer goods manufacturer Marico expects revenue growth in the March quarter after logging three straight quarters of fall, as demand for fast-moving consumer goods stayed consistent compared to the previous quarters, it said on Friday. The company said it eyed revenue growth as a percentage in the low-single digits and added …
India’s Marico forecasts revenue growth in Q4 after three quarters of fall, shares up Read More »
MUMBAI (Reuters) -The Reserve Bank of India (RBI) plans to use non-bank payment system operators, including third-party payment app providers, to make the e-rupee more accessible to retail users, it said on Friday. The RBI piloted its central bank digital currency (CBDC), which uses distributed-ledger technology, in 2023 but only allowed banks to offer these …
India to broaden e-rupee’s retail access beyond banks, cenbank says Read More »
MUMBAI (Reuters) – India’s central bank reiterated on Friday that underlying foreign exchange exposure is necessary for transacting in rupee derivatives on exchanges. The requirement of underlying exposure for rupee derivatives has always been the central bank’s policy “for the last so many years”, the central bank’s Governor Shaktikanta Das said at a post policy …
India cenbank reiterates FX exposure must for rupee exchange derivative transactions Read More »
