Reuters India Business

BENGALURU (Reuters) – Investment firm Bain Capital sold more than half its stake in non-banking financial company L&T Finance Holdings in two block deals, data from BSE India exchange showed on Tuesday. BC Asia Growth Investments and BC Investments Vi, units of U.S.-based Bain, offloaded about 70 million shares for 130 rupees apiece, a marginal …

Bain Capital slashes stake in India’s L&T Finance Holdings by more than half Read More »

By Aditi Shah and Dhwani Pandya MUMBAI (Reuters) – India’s road transport minister on Tuesday warned local and foreign automakers to either cut production of polluting diesel vehicles or face higher taxes and levies, setting alarm bells ringing in the world’s third-largest car market. Here are some facts about India’s automotive market, the biggest after …

Factbox-Gasoline, diesel vehicles dominate India’s auto market, EVs lag Read More »

By Rajendra Jadhav and Polina Devitt MUMBAI/LONDON (Reuters) – Russian companies have ceased offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices due to tightening global supplies after becoming the biggest suppliers to the country last year, three industry sources told Reuters. The move in August by Russian companies to instead offer …

Exclusive-Russian sellers stop fertiliser discounts to India -sources Read More »

By Aditi Shah and Tanvi Mehta NEW DELHI (Reuters) -India’s road transport minister on Tuesday said he will propose an additional 10% tax on diesel vehicles and warned automakers of even higher levies to come to force them away from diesel-burners and cut fuel emissions and pollution. Nitin Gadkari made the comments at the Society …

India minister warns automakers of higher tax on diesel vehicles Read More »

NEW DELHI (Reuters) – Any change in taxation in India will change the structure of the fuel mix in Mercedes-Benz India portfolio, the automaker said on Tuesday in response to a proposal for an additional 10% tax on diesel vehicles. “We will need six odd months to change our production planning processes but we can …

Mercedes says change in India tax on diesel vehicles will affect fuel mix portfolio Read More »

By Neha Arora and Amy Lv NEW DELHI/BEIJING (Reuters) – India’s steel producers expect a boost to local manufacturing and a fall in prices after New Delhi’s decision to impose an anti-dumping duty against steel wheels produced in China, according to four industry executives. Late on Monday, the Indian government imposed an anti-dumping duty on …

India’s steel mills expect wheel prices to ease after anti-dumping duty on China Read More »

By Bharath Rajeswaran and Archishma Iyer BENGALURU (Reuters) -India’s Nifty 50 index dipped in volatile trading on Tuesday as investors booked profits after the blue-chip index hit a record high near the open. The Nifty 50 was down 0.05% at 19,987.85 by 1:36 p.m. IST, while the S&P BSE Sensex rose 0.08% to 67,129.68. Both …

India’s Nifty 50 succumbs to profit-taking at record highs Read More »