Reuters India Business

By Hritam Mukherjee BENGALURU (Reuters) -UltraTech Cement said on Thursday it will buy a 23% stake in rival India Cements for up to 18.85 billion rupees ($226 million), heating up a battle with the Adani group which is challenging its position as India’s top cement maker. Aditya Birla group-owned UltraTech had dominated the cement market …

UltraTech to buy $226 million stake in India Cements as Adani challenge mounts Read More »

NEW DELHI (Reuters) – India’s state-run Bharat Petroleum Corp does not see any major change in its annual crude processing this fiscal year, as it plans to shut a crude unit at its biggest refinery for a month for maintenance, an executive said on Thursday. BPCL, the country’s third-largest oil refiner, plans to shut its …

India’s BPCL sees nearly flat annual crude processing, executive says Read More »

BENGALURU (Reuters) – India’s markets regulator is considering easing certain disclosure norms for listed companies, ranging from related party transactions to large shareholders. The Securities and Exchange Board of India (SEBI) is also evaluating giving listed companies more time to publicly disclose litigations or disputes that they are involved in, it said in a consultation …

Indian markets regulator mulls relaxing some disclosure norms for listed firms Read More »

By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares reversed early losses to hit record highs on Thursday, as UltraTech Cement jumped after announcing a stake purchase in rival India Cements and as index heavyweight Reliance Industries continued its recent rally. The NSE Nifty 50 was up 0.32% to 23,945 points as of 10:25 …

UltraTech Cement, Reliance power Indian shares to record highs Read More »

(Reuters) -Haleon will sell its nicotine replacement therapy business outside the U.S. to a unit of India’s Dr. Reddy’s for 500 million pounds ($632.55 million), the British consumer healthcare company said on Wednesday. The divestment is expected to dilute Haleon’s 2024 net revenue and adjusted operating profit by about 0.5% and about 1%, respectively. The …

Haleon to sell nicotine replacement therapy business outside US for $633 million Read More »

BENGALURU (Reuters) -Vedanta Resources will sell a 2.6% stake in Indian metals-to-oil firm Vedanta to a group of institutional investors, the former said in a statement on Wednesday. The move marks an about-turn from a week ago when Vedanta Chairman Anil Agarwal said there were no plans for a stake sale by the company’s controlling …

Vedanta’s parent to sell 2.6% stake in Indian miner in about-turn Read More »