Reuters India Business

By Tim Hepher, Aditi Shah and Joanna Plucinska ISTANBUL (Reuters) – Airbus is closing towards a potentially record deal to sell 500 narrow-body A320-family jets to India’s largest carrier IndiGo, industry sources said on Sunday. The European planemaker has emerged as front-runner for an order eclipsing Air India’s historic provisional purchase of 470 jets in …

Airbus nears 500-jet order from India’s IndiGo -sources Read More »

By Nikunj Ohri NEW DELHI (Reuters) -India’s insurance regulator on Friday ordered the takeover of a unit of Sahara India Life Insurance by SBI Life Insurance, following the company’s “continuous deterioration of financial position”. The Insurance Regulatory and Development Authority of India (IRDAI) on Friday said the life insurance business of Sahara India Life will …

India regulator orders takeover of Sahara India Life Insurance unit by SBI Life Read More »

(Reuters) – India’s Apollo Hospitals Enterprise Ltd plans to raise about $200 million by selling a stake of up to 6% in its online platform, Chief Financial Officer Krishnan Akhileswaran said on Friday. Apollo Hospitals is expecting a valuation of $2.5 billion to $3 billion for the healthcare services platform, Apollo HealthCo Ltd. In May, …

India’s Apollo Hospitals to sell stake in healthcare platform Read More »

LONDON (Reuters) – Lawyers for Indian businessman Prateek Gupta plan to ask a London court for a two-week extension to file a challenge to a $625 million global freezing order on him, a source with knowledge of the situation said on Friday. The court had previously given a deadline of Friday to challenge the freezing …

Gupta seeks extension to challenge freezing order in Trafigura case -source Read More »

By Sumit Khanna AHMEDABAD (Reuters) – India’s Tata Group signed an outline deal on Friday on building a lithium-ion cell factory, based on investment of about 130 billion rupees ($1.58 billion), as part of the nation’s efforts to create its own electric vehicle supply chain. Compared to the size of its population, India’s car market …

India’s Tata Group signs $1.6 billion EV battery plant deal Read More »

By Nimesh Vora and Sethuraman N R MUMBAI (Reuters) – The Indian rupee rose to a more than 2-week high on Friday, helped by the dollar’s decline against its major peers and Asian currencies on mounting expectations that the Federal Reserve will not hike rates this month, The rupee was at 82.3525 against the U.S. …

Rupee reaches 2-wk high on weak dollar, eyes US jobs data Read More »

BENGALURU (Reuters) – Alphabet Inc’s Google is leading a $36 million funding round for Bengaluru-based Pixxel, a satellite-image startup, in the first major investment in the Indian space sector since the government launched its privatisation policy in April. Pixxel, founded in 2019, is building a constellation of satellites that have the ability to identify mineral …

Google leads funding round for Indian space startup Pixxel Read More »

By Chris Thomas BENGALURU (Reuters) – Indian shares inched higher on Friday as strong monthly sales boosted Hero MotoCorp Ltd and as investor appetite for risky assets improved on bets that the U.S. Federal Reserve could pause its interest rate hikes. The blue-chip Nifty 50 was up 0.08% at 18,502.65 as of 10:03 a.m. IST, …

Indian shares up on Fed pause hopes; Hero climbs on strong sales Read More »

By Carolina Mandl NEW YORK (Reuters) -A big buyer of Nvidia Corp’s shares in the first quarter, Australia-listed investment firm GQG Partners, said it has continued to increase its exposure to the company since then as the chipmaker is likely to benefit from a cycle of investment in artificial intelligence. Fort Lauderdale, Florida-based GQG, which …

GQG adds more Nvidia as chipmaker has a ‘new leg’, says CIO Read More »