Reuters India Business

BENGALURU (Reuters) – Indian metals-to-oil conglomerate Vedanta will raise up to 25 billion rupees ($299.6 million) through debt securities, the company said on Thursday. The fundraise will take place through the issue of non-convertible debentures on a private placement basis. The billionaire Anil Agarwal-led company did not mention what the proceeds will be used for. …

India’s Vedanta to raise $300 million through debt securities Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee’s exchange rate will not be affected by the recent volatility in the currency’s exchange-traded derivatives, which was sparked by traders furiously unwinding positions to comply with a central bank rule, four bankers said on Thursday. The considerable volatility in the rupee’s exchange-traded derivatives, particularly options, on …

Volatility in Indian rupee exchange traded derivatives won’t impact spot, bankers say Read More »

BENGALURU/MUMBAI (Reuters) -HDFC Bank said on Thursday its gross loans grew 1.6% sequentially in the January-March period, at a rate that was slower than the previous quarter, with the Indian private lender also reducing its loan-to-deposit ratio (LDR). The company’s shares rose as much as 3% to their highest since mid-January before trimming some gains …

HDFC Bank’s March-quarter loans grow at slower pace sequentially, deposits rise 7.5% Read More »

By Shivangi Acharya NEW DELHI (Reuters) – India has paid $1.02 billion as incentives to boost local manufacturing, following over $13 billion in investments from private firms under a scheme introduced in 2020, a top government official said on Wednesday. The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India’s key industrial policy and covers …

India gives over $1 billion incentives to private firms under its manufacturing scheme, official says Read More »

By Anant Chandak BENGALURU (Reuters) – India’s dominant services industry grew faster in March amid strong demand, according to a private business survey that also showed employment increased at the fastest rate in seven months and export business expanded at a record pace. The final HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, …

India’s services growth accelerated in March, exports at record high, PMI shows Read More »

By Timothy Gardner WASHINGTON (Reuters) – The G7 price cap on Russian oil shipments is cutting the revenue that Moscow has available to support its invasion of Ukraine, and the mechanism’s effectiveness is helped by the recent actions of Indian refiners, U.S. officials will tell an event in New Delhi on Thursday, according to prepared …

US to tell event in India that price cap on Russian oil working Read More »

By Aditi Shah NEW DELHI (Reuters) – The CEO of India’s Vistara Airlines told employees at a meeting on Wednesday that it will revise crew rosters and may scale back flights to address ongoing disruption due to a sudden shortage of pilots, two people familiar with the discussions said. Vistara, owned by the Tata group …

India’s Vistara could cut flights amid pilot shortage, sources say Read More »

(This March 26 story has been corrected to remove incorrect reference of Zee being a loss making company, in paragraph 2) BENGALURU (Reuters) – India’s Zee Entertainment should substantially reduce losses in its businesses, including its English TV channels, and cut costs in other areas to meet a key profit target, according to a company-formed …

India’s Zee should focus on cost cuts, struggling businesses in profit pursuit, panel says (March 26) Read More »