BENGALURU (Reuters) -Indian shares closed higher on Tuesday after tumbling as much as 3% in the previous session, led by a surge in information technology and metal stocks, though fears over surging Omicron COVID-19 cases trimmed gains. The NSE Nifty 50 index ended 0.94% higher at 16,770.85 and the benchmark S&P BSE Sensex rose 0.89% …
Indian shares rebound after sell-off as IT, metals surge Read More »
BENGALURU (Reuters) -MapmyIndia, which powers Apple Inc’s maps in the country, was valued at 84.66 billion rupees ($1.12 billion) after surging 54% in its market debut on Tuesday, underscoring confidence in the digital map provider’s growth prospects. Shares of the company, also known as CE Info Systems, opened at 1,565 rupees before rising as high …
Digital maps provider MapmyIndia valued at $1.12 billion in stellar market debut Read More »
BENGALURU (Reuters) – SoftBank-backed Indian e-commerce platform Snapdeal filed for an initial public offering on Tuesday, joining dozens of firms in the country that have tapped the capital markets this year. Several SoftBank-backed companies and many popular names such as payments platform Paytm, beauty e-commerce retailer Nykaa and food delivery platform Zomato have sought a …
MUMBAI (Reuters) -India on Monday allowed imports of refined palm oil until December 2022, the government said in a notification, as the world’s biggest vegetable oil buyer tries to bring down edible oil prices. The move could reduce India’s crude palm oil (CPO) imports, with buyers shifting to refined palm oil as exporting countries such …
India allows refined palm oil imports until Dec 2022 Read More »
MILAN (Reuters) – Luxury sports car maker Ferrari announced plans on Monday to shake up its leadership structure, in one of new boss Benedetto Vigna’s first major moves, and said three top managers will leave the company. Those who have decided to leave include Chief Technology Officer Michael Leiters, the carmaker said. The planned reorganisation, …
Ferrari plans new leadership structure, three top manages to leave Read More »
LONDON (Reuters) – OPEC+ compliance with oil production cuts rose to 117% in November from 116% a month earlier, two sources from the group told Reuters, indicating production levels remain well below agreed targets. Compliance from the 10 OPEC countries participating in the production cuts reached 122%, with participating non-OPEC countries achieving 107%, data seen …
OPEC+ produces below target in November as compliance rises Read More »
By Sethuraman N R BENGALURU (Reuters) – Indian shares slumped on Monday to a near four-month low as rising Omicron cases and renewed lockdowns threatened to derail global economic recovery, while Future Group stocks jumped after the country’s antitrust agency suspended a deal with Amazon.com. The NSE Nifty 50 index closed 2.2% lower at 16,614.20, …
Indian shares tumble 2% as Omicron threatens global economic growth Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s market regulator ordered a year-long suspension of futures trading in key farm commodities on Monday, as the world’s biggest importer of vegetable oils, and a major producer of wheat and rice, struggles to tame food inflation. India’s most dramatic move since allowing futures trade in 2003 threatens market …
India halts futures trade in key farm commodities to fight inflation Read More »
By Sudarshan Varadhan CHENNAI (Reuters) -Police in India have released dozens of those detained for blocking a key highway in a protest against food poisoning at a Foxconn unit, the country’s second instance of unrest at an Apple Inc supplier factory in a year. India is among the countries, such as Mexico and Vietnam, that …
Dozens released after protest at India plant of Apple supplier Foxconn Read More »
BENGALURU (Reuters) -India’s CARS24 said on Monday it had raised $400 million in a funding round that saw participation of asset manager Alpha Wave Global, valuing the used-car retailing platform at $3.3 billion. The round comprises a $300 million equity infusion led by Alpha Wave and $100 million in debt from investors in India, Australia …
India’s used-car platform CARS24 valued at $3.3 billion in new funding round Read More »
