Reuters India Business

BENGALURU (Reuters) -India’s Ultratech Cement said on Tuesday it would set aside 324 billion rupees ($3.89 billion) for ongoing capital expenditure over the next three years. The move follows increased deal-making in India’s cement industry since nearest rival Adani Group bought ACC and Ambuja Cements <ABUJ.NS>, as well as strong demand from the housing and …

India’s Ultratech Cement to set aside $3.9 billion for capex over three years Read More »

BENGALURU (Reuters) – India’s Zee Entertainment said on Tuesday its CEO Punit Goenka will take a 20% pay cut, days after downsizing workforce at its technology and innovation centre, as part of the company’s cost-cut drive. Goenka’s annual remuneration was 350.71 million rupees ($4.21 million) as of March 31 last year. Zee did not immediately …

Zee CEO Punit Goenka takes 20% pay cut in cost-cut push Read More »

BENGALURU (Reuters) – India’s National Stock Exchange (NSE) on Tuesday said it halved the lot size for trading derivatives contracts for the blue-chip Nifty 50 index to 25, and reduced the lot sizes for two other indexes as part of its periodic revision. The move comes at a time Indian benchmark indexes have been hitting …

India’s NSE halves lot size for Nifty 50 derivatives trading Read More »

By Scott Murdoch and M. Sriram SYDNEY/MUMBAI (Reuters) -Blackstone is exploring raising $300 million via an India IPO of the International Gemological Institute (IGI), less than a year after it acquired the company, amid booming stock markets in the region, three people familiar with the matter said. Blackstone acquired IGI for $570 million in May …

Blackstone eyes $300 million IPO of India diamond certification firm, sources say Read More »

By M. Sriram MUMBAI (Reuters) – India’s largest real estate investment trust, Embassy Office Parks, plans to raise up to $400 million from investors, two sources with direct knowledge said, as it looks to meet demand for office space from global and local giants. Embassy, which manages 45 million square feet (4.18 million square meters) …

India’s Embassy REIT plans to raise up to $400 million, hires banks, sources say Read More »

By Nimesh Vora MUMBAI (Reuters) -The Indian central bank’s soon-to-be-implemented regulation saying exchange-traded rupee derivative transactions can be undertaken only for hedging will cause volumes to plunge more than 80%, dealing a major blow to the segment, six brokers said. Since the regulation was mooted in January, brokers have feared that proprietary traders and individual …

Indian rupee’s exchange derivative volumes to plummet on hedging rule, brokers say Read More »

BENGALURU (Reuters) – India’s civil aviation ministry said on Tuesday it was monitoring a surge in flight cancellations by Vistara as the airline grapples with a shortage of pilots, while the aviation regulator has sought daily information on flight disruptions. Vistara, owned by the Tata group and Singapore Airlines, cancelled over 50 flights on Monday, …

India’s civil aviation ministry, watchdog step in as Vistara cancellations surge Read More »