Reuters India Business

By Nimesh Vora MUMBAI (Reuters) – Banks are increasingly pitching hedging strategies to Indian companies that look appealing in the rupee’s current low-turbulence spell but could leave them unprotected when they need it the most and lead to sizeable losses. Target redemption forward (TARF) is one such product that banks, mostly foreign ones, say can …

Banks pitch risky hedges to Indian firms yearning for higher forex returns Read More »

BENGALURU (Reuters) -Shares of Tata Motors, India’s most valuable carmaker, hit a record high on Monday, rising as much as 7.2%, after it reported a more than two-fold increase in third-quarter profit, driven by strong sales in its British luxury car unit, Jaguar Land Rover (JLR). The stock, currently up 6.5%, is leading the Nifty …

India’s Tata Motors hits record high on sturdy profit, bets on JLR growth Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were mixed on Monday as gains in Tata Motors and oil-related stocks were hit by a drop in financials, while fading hopes of early U.S. rate cut dragged Asian markets. The NSE Nifty 50 index rose 0.28% at 21,917.10 as of 10:47 a.m IST, while the S&P BSE …

Indian shares mixed as financials hurt gains in Tata Motors, oil stocks Read More »

By Anant Chandak BENGALURU (Reuters) – India’s dominant services sector expanded at the fastest pace in six months in January on robust demand, according to a business survey which also showed output prices rose at their slowest rate since February 2023 and optimism was at a four-month high. That indicated India would continue to hold …

India’s January services growth at six-month high on robust demand -PMI Read More »

By Jaspreet Kalra and Jayshree P Upadhyay MUMBAI (Reuters) – India’s $4 trillion stock market is pulling in billions of dollars of domestic and foreign money as investors flock to a fast-growing alternative to China, brushing aside risks around overpriced shares, upcoming elections and regulatory uncertainty. The stream of investment has lifted the benchmark NSE …

Analysis-Investors dig into India’s stock market as China flounders, discount risks Read More »

MUMBAI (Reuters) – HDFC Bank, India’s largest private-sector lender, has appointed banks for a likely dollar bond sale, two bankers said on Monday. The bank is looking to issue three-year sustainability dollar bonds and five-year conventional notes, they added. It has appointed Barclays, Bank of America, J.P.Morgan, MUFG and Standard Chartered as joint bookrunners and …

India’s HDFC Bank appoints bankers for likely dollar bond issue -bankers Read More »

MUMBAI (Reuters) – Zee Entertainment can ask an Indian tribunal to enforce a $10 billion merger with Sony’s Indian unit after a Singapore arbitration centre rejected an emergency petition by the Japanese company for a stay of proceedings, Zee said on Sunday. Sony scrapped the merger on Jan. 22, ending a deal that could have …

Zee says it is free to go to India tribunal to enforce Sony merger deal Read More »

By Haripriya Suresh, VarunVyas Hebbalalu and Aditya Kalra BENGALURU/NEW DELHI (Reuters) – A rags-to-riches tale, Vijay Shekhar Sharma is no stranger to controversy. Now, India’s startup king faces arguably his biggest crisis in a race to save his revolutionary digital payments firm that had once counted Warren Buffett as a backer. Sharma has put up …

India’s startup rockstar, Paytm CEO Sharma, battles regulatory crisis Read More »

By Sarita Chaganti Singh and Ira Dugal NEW DELHI (Reuters) – India’s central bank has found hundreds of thousands of accounts at Paytm Payments Bank created without proper identification and has passed the information on to the country’s financial crime fighting agency, three sources familiar with the matter said. The Reserve Bank of India (RBI) …

Thousands of accounts at India’s Paytm Payments Bank set up improperly – sources Read More »