Reuters India Business Archives - Page 788 of 792

India’s top syringe maker asks PM Modi to lift factory shutdown order

11 Dec 2021 11 Dec 2021

MUMBAI (Reuters) – India’s largest syringe and needle manufacturer has urged Prime Minister Narendra Modi to revoke an order to suspend production, part of a broader factory shutdown imposed by a state regulator to curb heavy pollution in the region. Hindustan Syringes and Medical Devices (HMD) has shuttered its factories on the outskirts of New …

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Better.com CEO taking time off with immediate effect- Vice

10 Dec 2021 10 Dec 2021

(Reuters) – Better.com Chief Executive Officer Vishal Garg is taking time off with immediate effect, Vice reported on Friday, citing an email from the digital mortgage company’s board. Garg apologized earlier this week for his manner of handling layoffs at the mortgage company after a video of him firing 900 people via a Zoom call …

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India’s Modi says cryptocurrencies should be used to boost democracy, not harm it

10 Dec 2021 10 Dec 2021

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi said on Friday that emerging technologies such as cryptocurrencies should be used to empower democracy, not undermine it. Policymakers in India say unregulated transactions in digital currencies could hurt macroeconomic and financial stability. After initially planning to ban cryptocurrencies, the Modi government is instead considering legislation …

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India’s Oct industrial output grows 3.2% yr/yr – govt

10 Dec 2021 10 Dec 2021

NEW DELHI (Reuters) – India’s industrial output was up 3.2% in October from the same month a year ago, government data showed on Friday. Analysts polled by Reuters had expected a rise of 4% in October. (Reporting by Manoj Kumar; Editing by Kevin Liffey)

Indian shares end flat, rupee down ahead of U.S. inflation data

10 Dec 2021 10 Dec 2021

BENGALURU (Reuters) -Indian shares ended flat on Friday as gains in metal and auto stocks helped offset a fall in IT and pharma, while the rupee hit an 18-month low against the dollar ahead of U.S. inflation data that is expected to boost the greenback. The blue-chip NSE Nifty 50 index ended 0.03% down at …

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India’s Star Health trades flat in debut after tepid IPO

10 Dec 2021 10 Dec 2021

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 …

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Indian PM Modi to take final call on crypto regulatory framework – Economic Times

10 Dec 2021 10 Dec 2021

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, …

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India’s fuel demand eases in November after festival boost

9 Dec 2021 9 Dec 2021

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 …

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India’s Paytm Payments Bank granted status upgrade

9 Dec 2021 9 Dec 2021

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 …

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Indian shares end higher buoyed by consumer and metal stocks

9 Dec 2021 9 Dec 2021

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 …

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