Reuters India Business

By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters. Tesla has expressed an interest …

Tesla to discuss factory plan for new $24,000 car with India commerce minister -source Read More »

BENGALURU (Reuters) – Indian mortgage lender PNB Housing Finance on Monday posted a nearly 48% rise in its first-quarter profit, driven by robust demand for housing loans and improved asset quality. PNB Housing, a unit of state-run lender Punjab National Bank, said its consolidated net profit after tax stood at 3.47 billion rupees ($42.4 million) …

India’s PNB Housing posts 48% rise in Q1 profit on strong housing demand Read More »

By Swati Bhat and Ira Dugal MUMBAI (Reuters) – The recent rise in inflation has prompted Indian investors to push back rate cut expectations by at least a quarter to the middle of 2024, with a sustained rise in prices likely to prompt a further repricing, traders and analysts said on Monday. Surging food prices …

India rate cut bets pushed to mid-2024 amid inflation jump – traders Read More »

BENGALURU (Reuters) -India’s ITC Ltd said on Monday it would spin off its hotels business from the rest of the company, separating it from its cigarettes and food businesses. The cigarettes-to-hotels conglomerate would hold a 40% stake in the newly formed entity, to be named ITC Hotels Ltd, with the remaining 60% held by shareholders …

India’s ITC to demerge hotel business into separate company Read More »

By Milounee Purohit BENGALURU (Reuters) – India’s economy will grow at a solid pace for the rest of this fiscal year and next but well below its potential rate, according to a Reuters poll of economists who also said the employment situation will improve only slightly. The world’s most populous country aspires to leapfrog to …

India’s economy to hold top spot for GDP but not so much for jobs growth: Reuters poll Read More »

BENGALURU (Reuters) -Shares of Reliance Industries, India’s largest company by market capitalisation, fell nearly 3% on Monday, the most in nearly two weeks, after the conglomerate posted a bigger-than-expected drop in profit late. The stock also slid 3.1% on Friday, ahead of the results, but that came after a rally of a little over 13% …

India’s Reliance eases off record highs as Q1 profit disappoints Read More »

By Akanksha Khushi (Reuters) -U.S.-based investment firm Bain Capital said on Sunday that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, buying out all of the Adani family’s private investments in the company. Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to …

Bain to buy 90% stake in Adani Capital and Adani Housing Read More »