By Shivani Singh BENGALURU (Reuters) -India’s Star Health and Allied Insurance Co, backed by billionaire stock investor Rakesh Jhunjhunwala, see-sawed in a weak debut on Friday, after failing to attract investor interest in a blockbuster year for domestic listings. Shares of the country’s largest private health insurer were down 6% in pre-open trade before reversing …
India’s Star Health trades flat in debut after tepid IPO Read More »
BENGALURU (Reuters) – India’s Prime Minister Narendra Modi will take a final decision on the regulatory framework for cryptocurrencies, amid conflicting views, financial newspaper the Economic Times reported on Friday. The draft bill for cryptocurrencies has been finalised by the finance ministry but certain sections of the government felt more detailed discussions might be required, …
Indian PM Modi to take final call on crypto regulatory framework – Economic Times Read More »
By Brijesh Patel (Reuters) – India’s fuel consumption fell in November after scaling a seven-month peak last month, government data showed on Thursday, as demand eased in the world’s third biggest oil consumer after festival season. Fuel consumption, a proxy for oil demand, totalled 17.13 million tonnes, down 4% from October and was 11.4% lower …
India’s fuel demand eases in November after festival boost Read More »
NEW DELHI (Reuters) -India’s Paytm Payments Bank has gained central bank approval to function as a scheduled payments bank, it said on Thursday, helping it to expand its financial services operations. As a scheduled payments bank, Paytm Payments can participate in government and companies’ request for proposals, primary auctions, fixed-rate and variable rate repos, and …
India’s Paytm Payments Bank granted status upgrade Read More »
By Shivani Singh BENGALURU (Reuters) -Indian shares closed higher on Thursday, climbing for a third consecutive session aided by gains in consumer and metal stocks, a day after the central bank left key interest rates unchanged in line with expectations. At the closing bell, the blue-chip NSE Nifty 50 index and the benchmark S&P BSE …
Indian shares end higher buoyed by consumer and metal stocks Read More »
By Krishna N. Das NEW DELHI (Reuters) – Global vaccine-sharing network COVAX is still seeing strong demand for India-made doses of the AstraZeneca COVID-19 shot, one of its backers GAVI said, following comments from producer the Serum Institute of India (SII) that uptake had slowed sharply. The SII, the world’s biggest vaccine maker, told India’s …
Demand still strong for India-made AstraZeneca vaccine doses – COVAX’s GAVI Read More »
BENGALURU (Reuters) – Indian drugmaker Biocon Ltd is in talks with generic drugmaker Mylan for a merger of their biosimilar businesses, financial news website Moneycontrol reported on Thursday, citing sources with direct knowledge of the matter. Biocon will seek to hold a controlling majority stake in the merged entity and the companies will also look …
India’s Biocon in talks with Mylan to merge biosimilar businesses – Moneycontrol Read More »
By Tushar Goenka BENGALURU (Reuters) – India’s retail inflation likely accelerated last month towards the upper limit of the central bank’s target range as fruit and vegetable prices climbed, a Reuters poll found. The Reserve Bank of India left interest rates on hold on Wednesday, as predicted by another Reuters poll, but the central bank …
India’s retail inflation likely marched higher in November: Reuters poll Read More »
By Aditya Kalra and Gianluca Semeraro NEW DELHI/MILAN (Reuters) -Italy’s Generali is in talks to raise its stake in two Indian insurance businesses as its local partner, debt-laden Future Group, looks to exit the arrangement, three people familiar with the discussions told Reuters. Generali wants to increase its stake to as much as 74% in …
Generali eyes bigger stake in India businesses as Future seeks exit -sources Read More »
By Shilpa Jamkhandikar and Chandini Monnappa MUMBAI (Reuters) – The malls division of Swedish furniture giant IKEA will invest around 90 billion Indian rupees ($1.19 billion) in two centres it plans to build on the outskirts of New Delhi, a top executive said on Wednesday. IKEA’s malls business, one of the world’s biggest, said it …
IKEA malls business to invest around $1.2 billion in India – executive Read More »
