BENGALURU (Reuters) – India’s Vedanta Ltd will complete the sale of its steel assets by March 2024, group chairman Anil Agarwal told CNBC-TV18 channel on Tuesday. The company in June began the review of its steel and steel raw material business. (Reporting by Sethuraman NR in Bengaluru; Editing by Nivedita Bhattacharjee)
By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) -The World Bank on Tuesday maintained its forecast for India’s economic growth for the current fiscal year that started on April 1, saying the South Asian economy continued to grow rapidly despite challenging global conditions. The World Bank kept its growth forecast for India at 6.3%, …
World Bank maintains India current fiscal year growth forecast at 6.3% Read More »
By Sethuraman N R BENGALURU (Reuters) – Metals-to-oil conglomerate Vedanta Ltd’s move to split into six separate units in the next 15 months may not immediately help its UK-based parent meet a looming payment deadline for about $4.2 billion rupees of debt, at least four brokerages said. The billionaire Anil Agarwal-led company on Friday reversed …
Vedanta split unlikely to help parent’s near-term debt crisis – analysts Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee fell on Tuesday as elevated U.S. Treasury yields and broad strength in the greenback weighed on Asian currencies. However, likely intervention by the Reserve Bank of India (RBI) helped the local unit stay away from lifetime lows. The rupee was at 83.20 against the U.S. dollar …
India rupee weakens in line with Asian peers but RBI help caps fall Read More »
By Ashitha Shivaprasad (Reuters) – Gold extended its decline for a sixth straight session on Monday to hit a near seven-month trough, as a robust dollar and prospects of higher U.S. interest rates took the shine off bullion. Spot gold was down 0.9% by 1:52 p.m. EDT (1752 GMT) at $1,831.70 per ounce, its lowest …
Gold extends fall as strong dollar, higher US rates take toll Read More »
BENGALURU (Reuters) – India’s Adani Group plans to build 10 gigawatts (GW) of integrated solar manufacturing by 2027, more than double its current capacity, the Economic Times reported, citing news agency PTI. The conglomerate owned by Indian billionaire Gautam Adani produces solar photovoltaic cells or solar PVs through Adani Solar, with a manufacturing capacity of …
India’s Adani Group to build 10 GW solar manufacturing capacity by 2027 – ET Read More »
BENGALURU (Reuters) – Indian on-demand delivery platform Dunzo said on Monday that one of its four co-founders, Dalvir Suri, would leave and the cash-strapped, Reliance Industries-backed startup also announced an organisation-wide restructuring from this quarter. Dunzo has been struggling to strike a funding deal in the past few months and has announced at least three …
India’s Reliance-backed delivery firm Dunzo to restructure, co-founder quits Read More »
SINGAPORE (Reuters) – India’s Bharat Petroleum Corp has offered its first spot gasoil cargo, via a sales tender, in more than a year, three industry sources familiar with the matter said on Monday. BPCL is seeking to sell at least 40,000 metric tons of 10ppm sulphur gasoil loading Oct. 26-27 from Kochi, according to a …
India’s BPCL offers first gasoil cargo in over a year – sources Read More »
By Lawrence White and Kirstin Ridley LONDON (Reuters) – Barclays is seeking to overturn a ruling by an Indian court that found the British bank had retaliated against a whistleblower, legal filings show. The case concerns a former senior IT manager who raised concerns about how a data loss had been handled. Barclays’ whistleblowing policy …
Barclays challenges ruling it ‘retaliated’ against whistleblower in India Read More »
BENGALURU (Reuters) -Hindustan Zinc on Friday said it plans to create separate entities for its zinc, lead, silver and recycling businesses to unlock “potential value” and will appoint external advisors to review its corporate structure. Shares of Hindustan Zinc surged as much as 6.6% after the announcement, while parent Vedanta Ltd jumped as much as …
India’s Hindustan Zinc to spin off commodities into separate companies Read More »
