By VarunVyas Hebbalalu and Aleef Jahan C S BENGALURU (Reuters) – Bosch Ltd, the Indian arm of German automotive supplier Robert Bosch GmbH, is looking to boost manufacturing in India over the next two to four years, the company’s financial chief said on Tuesday. The technology supplier plans to increase the percentage of goods produced …
Bosch Ltd to increase manufacturing in India – CFO Read More »
BENGALURU (Reuters) -Officials from India’s financial crime fighting agency visited two offices of Hero MotoCorp and its chairman’s residence, the two-wheeler maker said in a statement on Tuesday. The company in an exchange filing said officials from the Enforcement Directorate visited its offices in Delhi and Gurugram as well as the residence of Chairman Pawan …
India’s Hero MotoCorp says enforcement agency visited offices, chairman’s residence Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee on Tuesday managed to find support after having opened on a weaker note on the back of a broadly higher U.S. dollar. The rupee was at 82.31 to the dollar by 10:26 a.m. IST compared with 82.2450 on Monday. The local currency opened at 82.3050 and …
Rupee finds support following opening dip; eye on oil prices Read More »
NEW DELHI (Reuters) -India’s goods and services tax (GST) collections rose 11% from a year earlier to 1.65 trillion rupees ($20.05 billion) in July, a government statement showed on Tuesday. The government collected 1.49 trillion rupees as GST in July 2022 and 1.61 trillion rupees in June 2023. It expects to garner 9.56 trillion rupees …
India’s July goods and services tax receipts rise 11% y/y Read More »
BENGALURU, August 1 (Reuters) – Indian cement maker Orient Cement on Tuesday reported a lower profit for the quarter ended June 30 as mounting costs outpaced strong demand. Standalone net profit for the CK Birla Group’s cement business slid to 370.3 million rupees ($4.50 million) in the first quarter, compared to 374.2 million rupees a …
India’s Orient Cement posts lower Q1 profit as costs outpace demand Read More »
By Brijesh Patel (Reuters) – Gold prices rose on Monday, putting them on track for their best month in four, helped by a weaker dollar and expectations that major global central banks are nearing a peak with interest rate hikes. Spot gold gained 0.4% to $1,967.77 per ounce by 02:39 p.m. EDT (1839 GMT). Bullion …
Gold set for best month in four as rate-hike cycle nears end Read More »
(Reuters) -The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1. A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday. The windfall tax on petrol …
By Hritam Mukherjee BENGALURU (Reuters) – State-owned utility Power Grid Corporation of India’s first-quarter profit fell more than 5% on Monday, hurt by weaker demand in its core transmission business. The company’s consolidated profit was 35.97 billion rupees ($437.42 million) in the quarter ended June 30, compared with 38.01 billion rupees a year earlier. A …
India’s Power Grid’s profit slips on subdued transmission demand Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -India’s renewable energy agency, Solar Energy Corp, has offered oil-to-telecoms conglomerate Reliance Industries a 51% stake in a joint venture to supply renewable power to the latter’s refineries and manufacturing plants, two sources familiar with the matter told Reuters. Under the proposal, Solar Energy Corp (SECI) will invite international bids …
India’s Solar Energy Corp proposes joint venture with Reliance – sources Read More »
BENGALURU (Reuters) -Indian telecom operator Bharti Airtel said on Monday that it has prepaid 80.24 billion rupees ($976 million) to partly clear deferred liabilities for the spectrum it acquired in a 2015 auction. The instalments, which are being paid to India’s telecom department for the spectrum, had an interest rate of 10%, the company said …
India’s Bharti Airtel prepays $976 million to partly clear spectrum dues Read More »
