Reuters India Business Archives - Page 865 of 1191

Modi says criticism of India’s stance on Russia not widespread in US – WSJ

20 Jun 2023 20 Jun 2023

(Reuters) -Indian Prime Minister Narendra Modi has said that India’s stance on Russia in the Ukraine conflict has not faced widespread criticism in the United States. Asked in an interview with the Wall Street Journal about critical comments in the U.S. for not taking a more forceful stance against Russia’s invasion of Ukraine, Modi said: …

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Financials lead slide in Indian shares ahead of Powell’s testimony

20 Jun 2023 20 Jun 2023

By Bharath Rajeswaran BENGALURU (Reuters) -India’s Nifty 50 and Sensex stock indexes declined on Tuesday, led by a slide in high-weightage financials as caution prevailed across global equities a day ahead of U.S. Federal Reserve Chair Jerome Powell’s congressional testimony. The blue-chip Nifty index fell 0.24% to 18,711 as of 10:05 a.m. IST, while the …

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India’s IIFL Securities tanks after 2 year ban on new stockbroking clients

20 Jun 2023 20 Jun 2023

BENGALURU (Reuters) – Shares of India’s IIFL Securities fell as much as 19.2% on Tuesday, a day after the country’s markets regulator barred its stockbroking unit from taking on any new clients for two years, alleging misuse of client funds in 2013-14. The Securities and Exchange Board of India (SEBI) on Monday said IIFL Securities …

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India aims to resolve discrepancy between global plane leasing rules, national laws

19 Jun 2023 19 Jun 2023

By Tim Hepher PARIS (Reuters) -India is working to resolve discrepancies between global aircraft leasing rules and its national bankruptcy laws, the country’s aviation secretary told Reuters on Monday on the sidelines of the Paris Airshow. A resolution could help lessors to Go First airline reclaim their planes and fly them out of the country …

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India’s Byju’s to cut another 500-1,000 jobs -source

19 Jun 2023 19 Jun 2023

By Rama Venkat BENGALURU (Reuters) – Popular Indian edu-tech startup Byju’s will lay off between 500 and 1,000 employees in another round of job cuts to cut costs, a source with knowledge of the matter told Reuters on Monday. The company, which employs around 50,000 employees, is one of India’s largest startups, once valued at …

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UK’s abrdn to sell shares in India’s HDFC Asset Management Co – report

19 Jun 2023 19 Jun 2023

BENGALURU (Reuters) – British asset manager abrdn plc is to sell shares in HDFC Asset Management Company Ltd worth up to 41.26 billion rupees ($503.5 million), Indian business news channel CNBC-TV18 said in a Twitter post, citing sources. The sale of shares will likely be done at a price range of 1,800 rupees to 1,892.45 …

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India market regulator bans IIFL Securities from signing new broking clients for 2 years

19 Jun 2023 19 Jun 2023

BENGALURU (Reuters) – India’s market regulator on Monday banned the stockbroking unit of IIFL Securities from onboarding any new client for two years, citing alleged misuse of client funds that came to light in 2013-2014. The Securities and Exchange Board of India (SEBI) inspected the operations and accounts of IIFL Securities between April 2011 and …

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Rupee dips tracking Asia FX, eyes Fed chief testimony this week

19 Jun 2023 19 Jun 2023

By Sethuraman N R BENGALURU (Reuters) – MUMBAI, June 19 (Reuters) – The Indian rupee ended little changed against the dollar on Monday, shrugging off weak regional cues as traders sought further clarity on the outlook for interest rates in the U.S. The rupee ended at 81.9350 to the dollar, compared with a close of …

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India’s Nifty 50, Sensex drop on profit-taking near record highs

19 Jun 2023 19 Jun 2023

By Bharath Rajeswaran BENGALURU (Reuters) -India’s blue-chip Nifty 50 and Sensex indexes declined on Monday due to profit-taking as they approached their all-time highs, although the broader indexes extended their rally to record levels. The Nifty index closed 0.37% lower at 18,755.45, while the benchmark S&P BSE Sensex fell 0.34% to 63,168.30. They rose as …

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Reliance Industries resumes vessel ops at Indian port – sources

19 Jun 2023 19 Jun 2023

By Nidhi Verma and Mohi Narayan NEW DELHI (Reuters) – India’s Reliance Industries, operator of world’s biggest refining complex, has resumed vessel operations at the port of Sikka in Jamnagar, Gujarat, industry sources said, as the coastline recovered from the impact of cyclone Biparjoy. “Any vessel calling the Sikka Ports & Terminals Ltd (STPL) can …

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