By Shivangi Acharya and Nidhi Verma NEW DELHI (Reuters) – Indian state fuel retailers’ gasoil and gasoline sales in June were little changed from the previous month, preliminary data showed, as people avoided travel as a heat wave in May gave way to monsoon rains. Daily sales of gasoil rose marginally by 0.4% to 7.12 …
India state retailers’ gasoil, gasoline sales flat in June m/m Read More »
(Reuters) -Embattled Indian edtech startup Byju’s and some of its lenders have restarted negotiations to restructure its $1.2 billion term loan, Bloomberg News reported on Friday, citing people familiar with the matter. The lenders have delivered a detailed amendment proposal to the company calling for a debt pay down, coupon boost and investor protections on …
Byju’s and lenders renew talks to restructure debt – Bloomberg News Read More »
By Siddhi Nayak -The boards of Housing Development Finance Corp and HDFC Bank on Friday approved July 1 as the effective date of the two financial behemoths’ $40 billion merger, the largest in India’s corporate history. Both the companies have set July 13 as the “record date” to swap HDFC’s shares with HDFC Bank’s stock …
HDFC to merge into HDFC Bank on July 1, create India’s financial behemoth Read More »
By Deep Kaushik Vakil (Reuters) – Gold was bound for its first quarterly decline in three, squeezed by expectations for more U.S. interest rate hikes, while moderate inflation prints provided some support on Friday. Spot gold rose 0.5% to $1,917.94 per ounce by 01:46 p.m. EDT (1746 GMT). U.S. gold futures settled 0.6% higher at …
Gold heads for quarterly fall as more rate hikes loom Read More »
BENGALURU (Reuters) – The Securities and Exchange Board of India (SEBI) on Friday imposed a penalty of 3 million rupees ($36,567.503) on metals-to-oil conglomerate Vedanta Ltd for violating the market regulator’s disclosure requirements. SEBI said Vedanta had broken its rules by publishing a press release on its website that made it appear it had partnered …
India market regulator fines Vedanta for flouting disclosure rules Read More »
By Anirban Sen and Andres Gonzalez NEW YORK/LONDON (Reuters) -Global mergers and acquisitions (M&A) activity fell 36% year-on-year in the second quarter, but investment bankers and lawyers expressed optimism that the stock market’s recovery will gradually restore chief executives’ dealmaking confidence. The total value of M&A fell to $732.82 billion in the second quarter of …
Global mergers and acquisitions plunge in Q2 but dealmakers see green shoots Read More »
By Rishika Sadam HYDERABAD (Reuters) -Two people were dead and five others were injured in a fire at a unit of a privately held pharmaceutical company in the southern Indian state of Andhra Pradesh on Friday, the police said. The fire broke out in a solvent reactor at a unit of Sahithi Pharma in Andhra …
Two dead, five injured in Indian pharma factory fire Read More »
(Reuters) – State Bank Of India said on Friday its chief financial officer Charanjit Surinder Singh Attra has resigned. (Reporting by Mrinmay Dey in Bengaluru; Editing by Mark Heinrich)
NEW DELHI (Reuters) – The World Bank said on Friday it has approved $1.5 billion in financing to accelerate the development of India’s low carbon energy sector. The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy investments, the bank said in …
World Bank approves $1.5 billion financing for India’s low carbon energy sector Read More »
By Indranil Sarkar and Chris Thomas BENGALURU (Reuters) -India’s Karnataka High Court on Friday dismissed Twitter’s plea challenging the federal government’s orders to block tweets and accounts and imposed a fine of 5 million rupees ($60,943.65), a lawyer for Twitter told Reuters. The decision comes weeks after Twitter’s ex-CEO and co-founder Jack Dorsey accused India …
