Reuters India Business

BENGALURU (Reuters) – India’s Siemens Ltd will explore a spin-off of its energy business at the behest of some of its stakeholders, the electrical appliances-maker said on Monday, sending its shares to a record high. Its board also approved the incorporation of a unit in the financial hub of Mumbai, if and when the company …

India’s Siemens to explore energy business spin-off, shares jump to record high Read More »

NEW DELHI (Reuters) -The Indian government is likely to achieve its fiscal deficit target of 5.9% of gross domestic product (GDP) in the financial year 2023-24, junior finance minister Bhagwat Karad said on Monday. India’s fiscal deficit in the first seven months of the financial year ending on March 31, 2024 was 8.04 trillion Indian rupees …

India likely to achieve fiscal deficit target in 2023-24, says govt Read More »

By Bharath Rajeswaran BENGALURU (Reuters) – Foreign portfolio investors (FPI) were major buyers of Indian equities in the first half of December, making the highest-ever purchases in a fortnight, National Securities Depository data showed. Lower U.S. bond yields on expectation of interest rate cuts by the Federal Reserve, the Reserve Bank of India raising India’s …

Foreign investors post record fortnightly purchases of Indian equities Read More »

BENGALURU (Reuters) -Shares of India’s Zee Entertainment Enterprises fell nearly 4% on Monday before trimming some losses, as the media company over the weekend sought further extension for a merger deadline from the Indian arm of Japan’s Sony Group. Zee Entertainment was last trading down 2.5% at 270.70 rupees. The merger to create a $10 …

Zee drops after seeking merger deadline extension from Sony’s India unit Read More »

BENGALURU (Reuters) – Shares in Indian steel-to-power conglomerate JSW Group fell as much as 5% on Monday, a day after its billionaire Chairman Sajjan Jindal said that local media reports accusing him of rape were “false and baseless”. Flagship firm JSW Steel slid 1.8%, while JSW Energy and JSW Infrastructure reversed losses to trade about …

Shares of India’s JSW Group drop after rape allegation against chairman Read More »

By Nimesh Vora MUMBAI (Reuters) – Importers should use the Indian rupee’s rally to the highest in nearly three months to hedge a large part of their near-term foreign payments, bankers and analysts said on Monday. The rupee was at 82.9475 to the U.S. dollar at 11:20 a.m. IST, compared to the previous close of …

Rupee rally continues; importers recommended to increase hedging Read More »

(Reuters) -Singapore’s Sembcorp Industries said its green hydrogen unit had partnered with two Japanese firms to supply green ammonia produced in India to Japan, as the company moves to strengthen its position as a major green energy supplier. Sembcorp Green Hydrogen Pte, has signed a memorandum of understanding with Japanese conglomerate Sojitz Corp and energy …

Sembcorp inks deal with Japanese firms to export green ammonia from India Read More »

MUMBAI (Reuters) – Sajjan Jindal, the chairman of Indian steel-to-power conglomerate JSW Group, on Sunday denied an allegation of rape, saying he would cooperate with an ongoing investigation. “Mr. Sajjan Jindal denies these false and baseless allegations. He is committed to providing full cooperation throughout the investigation,” a representative for Jindal said in a statement …

India’s JSW chairman Sajjan Jindal denies allegation of rape Read More »