By Brijesh Patel (Reuters) – India’s fuel consumption fell in November after scaling a seven-month peak last month, government data showed on Thursday, as demand eased in the world’s third biggest oil consumer after festival season. Fuel consumption, a proxy for oil demand, totalled 17.13 million tonnes, down 4% from October and was 11.4% lower …
India’s fuel demand eases in November after festival boost Read More »
NEW DELHI (Reuters) -India’s Paytm Payments Bank has gained central bank approval to function as a scheduled payments bank, it said on Thursday, helping it to expand its financial services operations. As a scheduled payments bank, Paytm Payments can participate in government and companies’ request for proposals, primary auctions, fixed-rate and variable rate repos, and …
India’s Paytm Payments Bank granted status upgrade Read More »
By Shivani Singh BENGALURU (Reuters) -Indian shares closed higher on Thursday, climbing for a third consecutive session aided by gains in consumer and metal stocks, a day after the central bank left key interest rates unchanged in line with expectations. At the closing bell, the blue-chip NSE Nifty 50 index and the benchmark S&P BSE …
Indian shares end higher buoyed by consumer and metal stocks Read More »
By Krishna N. Das NEW DELHI (Reuters) – Global vaccine-sharing network COVAX is still seeing strong demand for India-made doses of the AstraZeneca COVID-19 shot, one of its backers GAVI said, following comments from producer the Serum Institute of India (SII) that uptake had slowed sharply. The SII, the world’s biggest vaccine maker, told India’s …
Demand still strong for India-made AstraZeneca vaccine doses – COVAX’s GAVI Read More »
BENGALURU (Reuters) – Indian drugmaker Biocon Ltd is in talks with generic drugmaker Mylan for a merger of their biosimilar businesses, financial news website Moneycontrol reported on Thursday, citing sources with direct knowledge of the matter. Biocon will seek to hold a controlling majority stake in the merged entity and the companies will also look …
India’s Biocon in talks with Mylan to merge biosimilar businesses – Moneycontrol Read More »
By Tushar Goenka BENGALURU (Reuters) – India’s retail inflation likely accelerated last month towards the upper limit of the central bank’s target range as fruit and vegetable prices climbed, a Reuters poll found. The Reserve Bank of India left interest rates on hold on Wednesday, as predicted by another Reuters poll, but the central bank …
India’s retail inflation likely marched higher in November: Reuters poll Read More »
By Aditya Kalra and Gianluca Semeraro NEW DELHI/MILAN (Reuters) -Italy’s Generali is in talks to raise its stake in two Indian insurance businesses as its local partner, debt-laden Future Group, looks to exit the arrangement, three people familiar with the discussions told Reuters. Generali wants to increase its stake to as much as 74% in …
Generali eyes bigger stake in India businesses as Future seeks exit -sources Read More »
By Shilpa Jamkhandikar and Chandini Monnappa MUMBAI (Reuters) – The malls division of Swedish furniture giant IKEA will invest around 90 billion Indian rupees ($1.19 billion) in two centres it plans to build on the outskirts of New Delhi, a top executive said on Wednesday. IKEA’s malls business, one of the world’s biggest, said it …
IKEA malls business to invest around $1.2 billion in India – executive Read More »
By Krishna N. Das NEW DELHI (Reuters) -Indian COVID-19 vaccine makers are lobbying the government to authorise boosters as supplies have so outstripped demand that one drugmaker told Reuters it had suspended a plan to produce more than 100 million doses of Russia’s Sputnik shot. The Serum Institute of India (SII), the world’s biggest vaccine …
Indian vaccine makers bank on boosters as demand crashes Read More »
BENGALURU (Reuters) -India’s Mahindra Group said on Wednesday it was partnering with Jio-bp, a joint venture of Reliance Industries Ltd and BP Plc, to explore the creation of products and services for strengthening the conglomerate’s electric vehicle push. Under the non-binding deal, the company will evaluate Jio-bp’s charging and battery swapping technology for its electric …
India’s Mahindra Group ties up with Jio-bp JV to bolster EV business Read More »
