Reuters India Business

By M. Sriram MUMBAI (Reuters) – India’s Vishal Mega Mart is planning a $1 billion initial public offering that would value the budget supermarket chain at up to $5 billion with some of the proceeds earmarked to add stores, two people with direct knowledge of the plan said. Switzerland’s Partners Group and India’s Kedaara Capital, …

Exclusive-India’s Vishal Mega Mart planning $1 billion IPO, sources say Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was slightly higher on Tuesday on the back of inflows, holding its positive bias heading into the crucial U.S. consumer inflation data. The rupee was at 82.7425 to the U.S. dollar at 10:55 a.m. IST, up from 82.7575 in the previous session. The rupee has been …

Rupee inches up; importers take advantage of unexpected up move Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares recovered from a muted start on Tuesday, led by financials and information technology stocks, while profit taking continued in small- and mid-caps on concerns of froth and “irrational exuberance.” The blue-chip NSE Nifty 50 index added 0.49% to 22,441.85, while the BSE Sensex rose 0.66% to 73,987.81, as …

Financials, IT lead rise in Indian shares; small-, mid-caps underperform Read More »

By Dharamraj Dhutia MUMBAI (Reuters) – India’s government bond yield curve is poised to flatten further in the coming weeks as long-term interest rates fall on strong demand for longer-term securities, bank treasury officials said. The curve is the flattest in nine months, with the spread between the central bank policy rate and benchmark bond …

India bond yield curve to flatten more as long-term rates fall, treasury officials say Read More »

(Reuters) -British American Tobacco is evaluating a possible disposal of a “small part” of its shareholding in India’s ITC through an on-market block trade, it said on Monday. BAT had announced in February that it was “actively working” to reduce its roughly 29% stake in the Kolkata, India-headquartered company which has interests in segments ranging …

BAT mulls sale of ‘small part’ of stake in India’s ITC Read More »

BENGALURU (Reuters) -Rakesh Gangwal, co-founder of Indian airline IndiGo, sold a 5.8% stake worth $820.3 million in operator Interglobe Aviation via bulk deals on Monday. Gangwal, who held a 11.72% stake in Interglobe, as of December-end, sold 22.5 million shares at a price between 3,015.10 and 3,016.36 rupees per share, according to stock exchange data. …

India’s IndiGo’s co-founder Gangwal sells stake worth $820 million Read More »

By YP Rajesh and Arpan Chaturvedi NEW DELHI (Reuters) -India’s Supreme Court on Monday rejected a plea by government-run State Bank of India for more time to make public names of individuals and companies who donated billions of rupees to political parties through an opaque funding system. The court had on Feb. 15 scrapped the …

India’s top court orders SBI bank to share political donors’ names by Tuesday Read More »

BENGALURU (Reuters) -There may be pockets of irrational exuberance in the Indian equity markets, the markets regulator said on Monday, referring to concerns over stretched valuations of small- and mid-cap stocks and large inflows into mutual funds investing in these segments. The Securities and Exchange Board of India (SEBI) has suggested mutual fund trustees look …

India markets regulator flags froth in small, mid-cap stocks Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark stock indexes slipped on Monday, weighed by a drop in HDFC Bank and Tata group stocks, with investors also cautious ahead of key domestic and U.S. inflation data due on Tuesday. The blue-chip NSE Nifty 50 slipped 0.17% to 22,456.30 as of 10:08 a.m. IST, while the BSE …

Indian blue-chips slip as HDFC Bank, Tata group stocks weigh Read More »