Reuters India Business

GANDHINAGAR, India (Reuters) -Tata Group is close to announcing plans to build a new semiconductor fabrication plant in India’s Gujarat state this year, Tata Sons chairman Natarajan Chandrasekaran said on Wednesday at an investment summit. The comments came at the Vibrant Gujarat Global Summit, a business event being held in Prime Minister Narendra Modi’s home …

Tata to announce semiconductor fab investment in India’s Gujarat Read More »

BENGALURU (Reuters) -The Sony Group continued to hold talks with Zee Entertainment Enterprises to merge their businesses in India, the Nikkei reported on Wednesday, citing people involved in the negotiations, after media reports earlier said the Japanese company was planning to scrap the $10 billion deal. The talks will continue until a Jan. 20 deadline …

Sony unit continues merger talks with India’s Zee – Nikkei Read More »

By Aditi Shah NEW DELHI (Reuters) -Renault wants India to adhere to its regulatory roadmaps after the French automaker incurred unnecessary engineering costs following New Delhi’s decision to not implement a proposal mandating six airbags in cars, the company’s country head said.     Renault has less than a 2% share of India’s thriving auto market …

Renault seeks regulatory discipline in India as it plans new investments Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was higher on Tuesday, aided by an uptick in its Asian peers and positive sentiment in light of a proposal to include eligible Indian bonds in the Bloomberg Emerging Market Local Currency Index. The rupee was at 83.0950 against the U.S. dollar as of 10:10 a.m. …

Rupee inches up tracking Asian peers, forward premiums rise Read More »

By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – Indian importers and exporters left a bigger portion of their foreign currency exposures unhedged in 2023, relying on the Reserve Bank of India (RBI) holding the rupee in a narrow range. Forward contracts purchased by importers to hedge future foreign currency payments dropped 14.5% on-year in …

Indian companies took on larger forex risk in 2023 counting on cenbank support Read More »

(Reuters) -Tata Starbucks, a joint venture between Starbucks and Tata Consumer Products, said on Tuesday it plans to operate 1,000 cafes in India and double its workforce by 2028, amid fierce competition from local chains. Since opening its first cafe in October 2012, Tata Starbucks’ store count has grown to 390. It has opened 57 …

Starbucks India to more than double store count to 1,000 by 2028 Read More »

MUMBAI (Reuters) – India’s Bandhan Bank said on Tuesday that the National Credit Guarantee Trustee Company (NCGTC) has decided to undertake an audit of loan claims filed by the lender under a guarantee scheme. The bank clarified in an exchange filing that the regulator has not initiated a broader audit. After receiving the first tranche …

India’s Bandhan Bank says loan claims under audit by govt agency Read More »

BENGALURU (Reuters) -Shares of Bajaj Auto surged to a record high on Tuesday after the automaker said it would buy back shares worth up to 40 billion rupees (nearly $482 million) at a higher-than-expected 43% premium. The company will buy back shares at 10,000 rupees apiece, versus the stock’s closing price of 6,983.85 rupees on …

India’s Bajaj Auto hits record high on $482 million share buyback Read More »