Reuters India Business

By Indranil Sarkar and Aditya Kalra BENGALURU (Reuters) -Prosus NV, an investor in Indian educational technology startup Byju’s, said on Tuesday the company’s management “regularly disregarded advice” despite repeated efforts by the Dutch-listed tech firm’s former director to improve governance. “Executive leadership at BYJU’S regularly disregarded advice and recommendations relating to strategic, operational, legal, and …

Prosus says India’s edtech giant Byju’s ‘regularly disregarded’ its advice Read More »

BENGALURU (Reuters) -India’s aviation regulator has taken SpiceJet <SPJT.BO> off enhanced surveillance, CNBC-TV18 reported on Tuesday, citing sources. The Directorate General of Civil Aviation (DGCA) inspected a total of 23 aircraft and made 95 observations as part of the procedure. It also conducted 51 spot checks of SpiceJet’s aircraft across 11 locations in India. The …

Indian aviation regulator takes SpiceJet off enhanced surveillance – report Read More »

MUMBAI (Reuters) – The Reserve Bank of India likely bought dollars and conducted sell/buy swaps via public sector banks after the rupee reached a more-than-two-month high on Tuesday, three traders told Reuters. The rupee was last at 81.7950 to the U.S. dollar, off the day’s high of 81.6750. The USD/INR 1-year forward implied yield rose …

India cenbank likely bought dollars in spot, paid in far forwards – traders Read More »

BENGALURU (Reuters) -Maruti Suzuki India, the country’s top carmaker, said on Monday it was recalling a total of 87,599 S-Presso and Eeco vehicles to inspect and replace a possible defect in the vehicle’s steering system. The defect is suspected to be in a part of the steering tie rod, which, in rare cases, may break …

India’s Maruti to recall over 87,000 cars on likely steering system defect Read More »

BENGALURU (Reuters) -India’s Reliance Industries said on Monday it would invest up to 10 billion Indian rupees ($122.24 million) in building data centres in the country along with Canada-based Brookfield Infrastructure. The announcement comes at a time when data centre capacity in India is expected to rise exponentially as more people go online. Reliance will initially …

Reliance to invest $122 million in Brookfield JV for data center projects in India Read More »

BENGALURU (Reuters) -India’s Vedanta is confident of meeting its debt maturities of $2.7 billion this fiscal year and committed to bringing down its debt, its CFO said on Monday. The company is committed to reducing debt as its “high-quality” assets continue to generate a healthy cash flow, Sonal Shrivastava said in a statement. The company’s …

India’s Vedanta CFO says confident of meeting debt maturities in FY24 Read More »

BENGALURU (Reuters) – India’s Tata Steel on Monday reported a staggering 92% slump in quarterly profit, hurt by the lower prices of alloy and expenses related to a pension scheme in Britain. Consolidated net profit came in at 6.34 billion rupees ($77.5 million) for the three months to June 30, while total revenue from operations …

Tata Steel’s first-quarter profit slumps on spike in expenses, price drop Read More »