BENGALURU (Reuters) – S&P Global Ratings revised its outlook for India’s Adani Ports and Special Economic Zone and Adani Electricity Mumbai to stable from negative on signs of robust cash flow in the next 12 to 24 months. Adani Ports’ ratio of adjusted net debt to earnings before interest, tax, depreciation and amortization – a …
S&P Global upgrades Adani Ports, Adani Electricity on cash flow optimism Read More »
(Reuters) – JSW Group is set to invest 400 billion rupees ($4.81 billion) in electric vehicle (EV) manufacturing projects in India’s coastal state of Odisha, as it takes on both domestic and international players in India’s small but booming EV market. Electric models made up around 2% of India’s car sales last year, with Tata …
JSW Group to invest $5 billion in EV projects in eastern India Read More »
By Nishit Navin and Chris Thomas BENGALURU (Reuters) -Japan’s Sony Group scrapped plans on Monday for a $10 billion merger of its Indian unit with Zee Entertainment, ending a deal that could have created one of the South Asian nation’s biggest TV broadcasters. The collapse of the deal in content-hungry India creates more uncertainty for …
Sony ends $10 billion merger with India’s Zee, setting stage for legal row Read More »
NEW DELHI (Reuters) – India’s state-owned Steel Authority of India has suspended two board directors at the direction of the anti-graft ombudsman, the company said in a statement on Sunday, without specifying the allegations. The suspension will not affect the company’s performance, Chairman Amarendu Prakash said in a statement. “Business is being carried out as …
India’s Steel Authority suspends two directors at direction of anti-graft ombudsman Read More »
MUMBAI (Reuters) – India has deferred a 50-billion-rupee ($601.78 million) plan to fill parts of its strategic petroleum reserve, keeping in mind emerging trends in oil markets, the finance ministry said on Saturday. In the federal budget for 2023-24, the government had outlined a plan to purchase crude oil worth 50 billion rupees for caverns …
India defers $602 million plan to fill parts of strategic petroleum reserve Read More »
By Siddhi Nayak MUMBAI (Reuters) -India’s ICICI Bank reported a better-than-expected third-quarter profit on Saturday, helped by robust loan growth, although its net interest margin (NIM) shrank for the fourth straight quarter. The country’s second-biggest private bank reported a record high standalone net profit of 102.72 billion rupees ($1.24 billion) in the quarter ended Dec. …
India’s ICICI Bank beats quarterly estimates with record high profit Read More »
By Siddhi Nayak MUMBAI (Reuters) -India’s Kotak Mahindra Bank reported lower-than-expected third-quarter net profit on Saturday, weighed down by higher bad loan provisions and shrinking lending margins. The private bank reported standalone net profit of 30.05 billion rupees ($361.7 million) in the quarter ended Dec. 31, compared to analysts’ expectations of 31.94 billion rupees, per …
India’s Kotak Mahindra Bank misses Q3 profit view on higher loan provisions Read More »
By Amlan Chakraborty NEW DELHI (Reuters) – Indian conglomerate Tata Group has bagged the title sponsorship of the Indian Premier League (IPL) for 2024-28 for a “record-breaking” $300 million, the league organisers said on Saturday. Backed by celebrity franchise owners and featuring the best players in international cricket, IPL has become the world’s richest T20 …
Cricket-Tata Group bags five-year IPL sponsorship rights for $300 million Read More »
BENGALURU (Reuters) – Indian shares ended lower in a trading session on Saturday, dragged by information technology companies and Hindustan Unilever, but gains in lenders helped limit some losses. The blue-chip Nifty 50 ended down 0.23% to 21,571.80, while the S&P BSE Sensex fell 0.4% to 71,423.65. The equity market traded in a full session …
Indian shares end lower in Saturday session as IT stocks, HUL weigh Read More »
BENGALURU (Reuters) -Indian shares rose in a trading session on Saturday, helped by a bounce in banking stocks after an HDFC Bank-led slide earlier in the week, while investors awaited earnings reports from large private lenders, due later in the day. The blue-chip Nifty 50 rose 0.16% to 21,656.95, while the S&P BSE Sensex advanced …
Indian shares rise in Saturday session as banks bounce; HUL slides Read More »
