Reuters India Business

Indian stock broker Angel One posts 14% rise in Q3 profit as orders jump

15 Jan 2024

BENGALURU (Reuters) – Indian stock brokerage firm Angel One on Monday reported a 14% rise in third-quarter profit, aided by a jump in orders and client additions. Consolidated profit was 2.60 billion rupees ($31.38 million) for the quarter ended Dec. 31, compared with 2.28 billion rupees a year earlier, according to an exchange filing. Total …

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India’s market regulator proposes relaxed rules for illiquid AIF investments

15 Jan 2024

(Reuters) – India’s markets regulator, on Monday, proposed a relaxed framework for alternative investment funds (AIFs) and venture capital funds (VCFs) to deal with their unliquidated investments after the fund tenure expires. The Securities and Exchange Board of India (SEBI) suggested that instead of launching a new scheme to liquidate their investments, the tenure of …

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India’s Aster mulls dividend payout from $1 billion Gulf demerger amid proxy firm pressure

15 Jan 2024

BENGALURU (Reuters) – India’s Aster DM Healthcare plans to distribute to shareholders about 70%-80% of the $903 million it will get by selling its Gulf business, the hospital chain said Monday, days after a proxy advisory firm asked investors to veto the deal. Aster agreed, in November, to sell a majority stake in the Gulf …

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Hitachi’s Indian business expects to have $20 billion revenue by 2030

15 Jan 2024

By Divya Chowdhury, Savio Shetty and VarunVyas Hebbalalu DAVOS, Switzerland (Reuters) – Hitachi India expects to contribute $20 billion in revenue to its Japanese parent by 2030, its managing director said in an interview on the sidelines of the World Economic Forum annual meeting. “India is being looked at as a global hub, especially in …

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India ETF flows hit record in 2023, analysts see momentum persisting in election year

15 Jan 2024

By Bansari Mayur Kamdar NEW DELHI (Reuters) – Net inflows into exchange traded funds (ETFs) tracking Indian stocks hit a record high in 2023, with analysts optimistic that investors will continue to buy into the world’s fastest-growing major economy even as keenly watched general elections loom. India-focused ETFs saw net inflows of $8.6 billion last …

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India’s IT stocks extend gains on bets of growth rebound

15 Jan 2024

BENGALURU (Reuters) -India’s IT companies gained 4% on Monday following better-than-expected results from Wipro and HCLTech, signalling stability in demand. Wipro’s shares rose 13.7% to their highest since April 2022, and were on track for their best day since July 2020. HCLTech shares rose over 5% to a record high. The 10-member Nifty IT index …

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