(Reuters) – The government of India appointed two new whole-time members to the board of the market regulator, according to a circular dated August 12. The circular was made public on Wednesday. Kamlesh Chandra Varshney, currently serving as joint secretary at the department of revenue, and Amarjeet Singh, an executive director at the Securities and …
BENGALURU (Reuters) -Hyundai Motor Co’s Indian unit will buy automaker General Motors’ Talegaon plant in the western state of Maharashtra, a move that will allow the U.S. automaker to exit the country as well increase Hyundai’s annual production. Through its Sriperumbudur facility outside Chennai city and now the Talegaon plant, Hyundai aims to increase its …
Hyundai Motor’s unit to buy General Motors’ India plant Read More »
NEW DELHI (Reuters) – The Indian government is considering selling some of its stake in the state-owned Indian Railway Finance Corp (IRFC) as it aims to meet its divestment targets for the year, two government officials told Reuters on Wednesday. The government owns a little over 86% of the Indian Railways’ funding arm. “The stake …
Indian government plans stake sale in Indian Railways’ funding arm – sources Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee on Wednesday managed to recover against the U.S. dollar in the offshore non-deliverable forward (NDF) market on likely intervention by the Reserve Bank of India and recovery in the Chinese yuan. The USD/INR one-month NDF was quoting at 83.24/83.26, which on a spot basis is around …
Rupee recovers on offshore NDF, may avoid record low when onshore reopens Read More »
By Manoj Kumar and Praveen Paramasivam NEW DELHI/CHENNAI (Reuters) – Burger King has scrapped tomatoes from its wraps and burgers in many Indian outlets after prices more than quadrupled, the latest symptom of surging food inflation that is hitting consumers hard across the world’s most populous nation. “Even tomatoes need a vacation … we are …
Burger King says tomatoes on ‘vacation’ as India battles food inflation Read More »
MUMBAI (Reuters) – Indian banks’ operating environment has strengthened as economic risks associated with the COVID-19 pandemic have ebbed and as lenders have built appropriate buffers against potential stress, Fitch Ratings said on Wednesday. “A number of prudential indicators for the sector have also improved compared with pre-pandemic levels, though growing risk appetite in a …
Indian banks’ operating environment, capital buffers stronger -Fitch Read More »
BENGALURU (Reuters) – The family of IndiGo’s co-founder Rakesh Gangwal will sell operator Interglobe Aviation’s shares worth up to $450 million via a block deal on Wednesday, CNBC-TV18 reported on Tuesday, citing sources privy to the developments. The offer floor price for the sale by Rakesh Gangwal and wife Shobha Gangwal is set at 2,400 …
IndiGo co-founder’s family to sell shares worth up to $450 million – report Read More »
By Brijesh Patel (Reuters) – Gold prices steadied on Tuesday, buoyed a dollar retreat, although expectations that the Federal Reserve will likely keep interest rates higher for longer after strong U.S. data kept bullion near the six-week low. Spot gold was little changed at $1,905.19 per ounce by 1:51 p.m. EDT (1751 GMT), having hit …
MUMBAI (Reuters) – India’s largest tractor maker, Mahindra and Mahindra, launched a new platform to manufacture lightweight tractors on Tuesday, which would enable the company to double its exports within three years, a senior company official told Reuters. The new platform, named Oja, was developed in collaboration with India’s Mahindra Research Valley and Japan’s Mitsubishi …
India’s Mahindra aims to double tractor exports with new platform Read More »
By VarunVyas Hebbalalu and Riddhima Talwani POCHAMPALLI, TAMIL NADU (Reuters) -Ola Electric, India’s largest maker of electric scooters, launched its most affordable rides on Tuesday, in an effort to woo more buyers as the price of e-scooters moves closer to gasoline models. The SoftBank Group-backed company also plans to launch four e-motorcycles by end-2024. The …
India’s Ola Electric eyes higher sales with affordable e-scooters Read More »
