By Praveen Paramasivam BENGALURU (Reuters) – Demand for beer in India is at a multi-year high and air conditioner sales are skyrocketing as the intense, unprecedented heat scorching parts of the country becomes a boon for some consumer businesses. Temperatures in the Indian capital Delhi and the western state of Rajasthan soared to almost 50 …
Indians battle intense heat with ‘mad rush’ for air conditioners, beer Read More »
By Anirban Sen and Anousha Sakoui NEW YORK/LONDON (Reuters) – Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024. Stubbornly high interest rates, a hostile regulatory environment and a frothy stock market that …
Dealmakers optimistic on global M&A prospects despite sluggish growth Read More »
(This June 27 story has been corrected to fix the price hike range to 13%-27%, from 13%-22%, in paragraph 4) BENGALURU (Reuters) – India’s Reliance Industries said on Thursday its telecom business Jio Infocomm will hike prices of some prepaid and postpaid plans from July 3. WHY IT’S IMPORTANT Jio, India’s largest telecom carrier by subscriber …
India’s Jio to hike tariffs on some of its plans from July 3 (June 27) Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark equity indexes rose to record highs on Friday, led by shares of oil-to-telecom conglomerate Reliance Industries that rose after its telecom arm announced tariff hikes and as state-owned lenders rallied. The NSE Nifty 50 rose 0.29% to 24,113.65 points, while the S&P BSE Sensex added 0.28% to 79,465.05 …
Reliance, state-run banks boost Indian shares to another record high Read More »
By Harshit Verma (Reuters) – Gold prices rose more than 1% on Thursday from the over two-week low touched in the previous session, as the dollar softened and the spotlight shifted to key U.S. inflation data for clues on the Federal Reserve’s policy path. Spot gold was up 1.2%, at 2,324.53 per ounce as of …
Gold gains 1% on dollar weakness as focus turns to US PCE data Read More »
By Jatindra Dash and Arpan Chaturvedi BHUBANESWAR (Reuters) – Indian liquor company Som Group has asked a state court to quash a government decision to temporarily suspend manufacturing licenses of one of its distilleries where a federal agency found 59 children working illegally, a court filing showed. Police, who have been investigating the Som distillery …
Indian liquor firm Som challenges license suspension in child labour case Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) -India’s market regulator on Thursday warned of rising risks from a surge in derivative trading volumes, with small investors jumping in to trade risky options contracts. A booming Indian stock market has drawn retail investors to the riskiest corners of the market and their share of derivative trading volumes …
India’s market regulator warns of rising risks from derivative trading frenzy Read More »
By Haripriya Suresh BENGALURU (Reuters) – Growth in companies setting up global capability centres (GCCs) in India is set to accelerate sharply as it evolves from a low-cost back office location to a high-value innovation hub, said Lalit Ahuja, founder and CEO of consulting group ANSR. Indian hubs are now doing cutting-edge work ranging from …
Growth of India capability centres set to rise sharply, says consultant ANSR Read More »
BENGALURU (Reuters) – Indian private lender RBL Bank said on Thursday it will raise up to 65 billion rupees ($779 million) through a combination of qualified institutional placement (QIP) of shares and debt sale. The bank will raise 35 billion rupees through QIP and 30 billion rupees through issue of debt securities via private placement, …
By Rishika Sadam BENGALURU (Reuters) – More than 36% of the 400 drug manufacturing units inspected since last year in India were ordered to be shut, the country’s drug regulator said on Thursday, after deaths linked to sub-standard cough syrups prompted an increase in scrutiny. The country, regarded as the world’s pharmacy given the volume …
Indian regulator says 36% of inspected drug-making units had to be shut Read More »
