Reuters India Business

By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -The parent company of India’s ShareChat has acquired local rival MX’s short-video platform in a roughly $700 million deal, two sources told Reuters, as competition heats up in the sector where foreign investors have placed major bets. The two companies confirmed the deal in a statement …

India’s ShareChat buys rival MX’s short-video app in $700 million deal, sources say Read More »

BENGALURU (Reuters) -Indian shares closed higher on Thursday, after the central bank held its key lending rate steady as expected but surprised markets by leaving the deposit rate unchanged, and as it stuck to its accommodative policy stance to aid the economic recovery. Some economists had predicted a hike in the reverse repo rate to …

Indian shares end higher on surprise cenbank decision, accommodative stance Read More »

By Tushar Goenka BENGALURU (Reuters) – India’s retail inflation likely accelerated to 6.0% in January, the upper limit of the Reserve Bank of India’s tolerance band, driven by higher consumer goods and telecom prices along with a comparatively low rate a year ago, a Reuters poll found. Inflation is climbing across the world and India …

India’s retail inflation likely reached RBI’s 6% upper limit in January: Reuters poll Read More »

By Nupur Anand and Swati Bhat MUMBAI (Reuters) – India’s central bank chief delivered a stark warning against investing in cryptocurrencies, saying they lacked the underlying value of even a tulip – in a reference to a speculative bubble that gripped the Netherlands in the 17th Century. Reserve Bank of India Governor Shaktikanta Das gave …

Warning Indians against cryptocurrencies, RBI chief says tulips have more value Read More »

By Chandini Monnappa BENGALURU (Reuters) -Indian automaker Mahindra and Mahindra Ltd reported a 57% jump in third-quarter profit on Thursday, boosted by higher revenues that offset an increase in costs due to supply chain disruptions and semiconductor shortages. The company, chaired by Indian billionaire Anand Mahindra, said it also saw a sharp rise in exports …

India’s Mahindra and Mahindra reports surge in quarterly profit Read More »

(Reuters) – The Reserve Bank of India’s key lending rate was held steady at record lows on Thursday, but it surprised markets by leaving its key deposit rate unchanged against some economists’ predictions of a hike to re-align it with short-term money market rates. The monetary policy committee held the lending rate, or the repo …

India’s central bank holds key rates steady in surprise move Read More »