Reuters India Business

India kicks off $11.5 billion spectrum auction; analysts expect lacklustre bidding

25 Jun 2024

BENGALURU (Reuters) – India has offered telecom spectrum worth around 962.38 billion rupees ($11.53 billion) for auction on Tuesday, it said in a release, even as analysts expect lacklustre participation from players as they shore up their existing spectrum. A total of 10 GHz of radiowaves is up for sale in this auction, ranging between …

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Indian imports of Russian coal fall, U.S. shipments rise

25 Jun 2024

By Sudarshan Varadhan and Shivangi Acharya SINGAPORE (Reuters) – Indian imports of Russian coal have declined while U.S. shipments have risen in the three months ending in May, data from coal consultancy Bigmint showed, which traders attributed to Russian supplies becoming less competitive. Russia’s exports of all types of coal to India over the period …

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India’s Amara Raja inks licensing deal with China’s Gotion for lithium-ion cell manufacturing

24 Jun 2024

BENGALURU (Reuters) – Indian battery maker Amara Raja Energy and Mobility said on Monday it signed a licensing agreement with Gotion-InoBat-Batteries (GIB), a unit of China-based Gotion High Tech Co, to produce lithium-ion batteries in India. GIB EnergyX Slovakia, a joint venture between Gotion and Slovakia-based InoBat, will license Gotion’s lithium iron phosphate technology for …

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Adani, Hindalco show interest as Hindustan Copper plans to develop two mines, source says

24 Jun 2024

By Neha Arora BENGALURU (Reuters) – India’s state-owned Hindustan Copper plans to develop two of its copper mines for which Adani Enterprises and Hindalco Industries have shown preliminary interest, a source with direct knowledge of the matter said. “Adani and Hindalco attended the pre-bid conference earlier today,” the source said, declining to be identified due …

Adani, Hindalco show interest as Hindustan Copper plans to develop two mines, source says Read More »

India’s January-March quarter current account balance logs first surplus in 10

24 Jun 2024

By Siddhi Nayak MUMBAI (Reuters) -India’s current account balance posted a surplus for the first time in 10 quarters in the January-March period, helped by higher service exports and private transfer receipts, the central bank said on Monday. The current account surplus stood at $5.7 billion, or 0.6% of the GDP, in the fourth quarter …

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India to auction 21 critical mineral blocks across more than six states

24 Jun 2024

(Reuters) – India will auction 21 critical mineral blocks as part of the fourth tranche worth 830 billion rupees ($9.94 billion) across more than six states, the government said on Monday. Ten out of these are blocks from previous tranches. India has been auctioning critical mineral blocks since November as part of efforts towards a …

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India buys record amount of sunoil as Ukraine-Russia fight for market share cuts price

24 Jun 2024

By Rajendra Jadhav MUMBAI (Reuters) – Indians bought a record 500,000 metric tons of sunflower oil for June delivery, as competition between leading suppliers Russia and Ukraine made it cheaper than soyoil and palm oil, two leading buyers and a customs official told Reuters. Higher sunflower oil purchases by the world’s biggest importer of vegetable …

India buys record amount of sunoil as Ukraine-Russia fight for market share cuts price Read More »

Indian shares end higher helped by autos, consumer stocks

24 Jun 2024

By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares ended with meagre gains on Monday helped by auto and consumer stocks, while some small- and mid-cap stocks fell after a report said that the country’s markets regulator was investigating allegations of “front-running” at a domestic mutual fund. The NSE Nifty 50 inched up 0.16% …

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India’s Adani Group ‘well positioned’ to capitalise on country’s infra spending, chairman says

24 Jun 2024

By Sethuraman N R and Chris Thomas BENGALURU (Reuters) – India’s Adani Group is “well positioned” to capitalize on opportunities in the country’s booming infrastructure sector as spending is expected to surge, Chairman Gautam Adani told investors on Monday. The group, which has businesses across ports, power utilities, transmission and coal trading, is betting on …

India’s Adani Group ‘well positioned’ to capitalise on country’s infra spending, chairman says Read More »

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