By Rama Venkat and Sethuraman N R BENGALURU (Reuters) -India’s Jio Financial Services (JFS), part of billionaire Mukesh Ambani-led conglomerate Reliance Industries, is set to be listed on stock exchanges on Aug. 21, according to exchange circulars on Friday. Ambani’s Reliance had last month spun off JFS, with the stock price set at a much …
India’s Jio Financial Services to be listed on Aug. 21 Read More »
(Reuters) -Reliance Jio Infocomm said on Friday it has launched a Netflix subscription on prepaid plans, a move that could intensify competition among domestic telecom companies as well as help the video-streaming provider find other avenues to make money. Jio, the telecom arm of Indian billionaire Mukesh Ambani’s Reliance Industries, said that around 400 million …
India’s Reliance Jio launches Netflix subscription on prepaid plans Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended stronger on Friday, aided by the softness in U.S. treasury yields and some easing in the dollar after concerns of U.S. interest rates staying higher for longer pushed the local unit towards a record low earlier in the week. The rupee closed at 83.1025 against …
Rupee ends marginally higher but falls for fourth straight week Read More »
BENGALURU (Reuters) -Abu Dhabi National Energy Company PJSC, known as TAQA, is evaluating an investment of up to $2.5 billion in the power businesses of Indian billionaire Gautam Adani, newspaper Economic Times reported on Friday, citing sources. The investment, anywhere between $1.5 billion to $2.5 billion, could be made in single or multiple group businesses, …
Abu Dhabi’s TAQA may invest up to $2.5 billion in Adani’s power units – ET Read More »
MUMBAI (Reuters) – The Reserve Bank of India (RBI) on Friday said it has allowed infrastructure debt fund non-banking financial companies (IDF-NBFC) to raise funds through foreign loan route in addition to bond issuances. The RBI reviewed and has revised the guidelines to harmonise the regulations governing financing of the infrastructure sector, it said in …
India cenbank allows infra debt funds to raise money via foreign loan route Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – India’s flat government bond yield curve will steepen over the medium term as elevated inflation falls back within the central bank’s comfort zone in a few months and prompts short-end debt purchase, the treasury head of DBS Bank India said on Friday. Separately, the benchmark 10-year bond yield, which …
Indian govt bond yield curve to steepen over medium term – DBS Bank’s Vaidya Read More »
BENGALURU (Reuters) -Shares of India’s Concord Biotech climbed as much as 33.3% in their market debut on Friday, valuing the biopharma company at more than 103 billion rupees ($1.24 billion). The Ahmedabad, Gujarat-based company opened at 900.05 rupees, a 21% premium compared with its initial public offer (IPO) price of 741 rupees. It stayed above …
India’s Concord Biotech up 33% in debut, nets over $1 billion in valuation Read More »
MUMBAI (Reuters) – India’s central bank on Friday forbid banks and other lenders from charging penal interest from borrowers for not complying with the contractual terms and conditions of a loan to ensure fair lending practices and protect the interest of consumers. Penalty, if charged, should be treated as “penal charges” and not be levied …
India cenbank issues guidelines to regulate penal charges by banks Read More »
By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -Indian shares fell on Friday, dragged by IT stocks, tracking a slide in global equities on rate concerns in the United States and deflation and demand worries in China. The Nifty 50 index was down 0.52% at 19,265.50 while the S&P BSE Sensex fell 0.49% to 64,839.50 …
IT drags Indian shares down as Fed rate worries, China concerns weigh Read More »
By Brijesh Patel (Reuters) – Gold prices slipped to a five-month low on Thursday as factors such as rising Treasury yields, a firm dollar and a hawkish view on interest rates from Federal Reserve officials weighed on investor sentiment. Spot gold was down 0.3% at $1,886.10 per ounce by 1:53 p.m. EDT (1753 GMT), its …
Gold at 5-month low as higher yields, rate-hike bets dominate mood Read More »
