By Mohi Narayan NEW DELHI (Reuters) – GAIL (India) Ltd, the country’s top gas supplier, plans to build a 400-billion rupee ($4.89 billion) ethane cracker near its liquefied natural gas (LNG) import plant in Western India, two sources with direct knowledge of the matter said, as it seeks to meet an expected surge in demand. …
GAIL plans $4.9 billion ethane cracker in West India- sources Read More »
(Reuters) – Go Airlines (India) Ltd was granted bankruptcy protection on Wednesday, paving the way for the budget carrier to renegotiate debts and contracts after it had to ground half its fleet, blaming Pratt & Whitney engines for being “faulty”. Following are some details on the carrier: Go First was incorporated in April 2004 as …
Factbox-India’s Go First seeks revival after court grants bankruptcy protection Read More »
NEW DELHI (Reuters) – The Indian government has expanded the scope of its money laundering law to also include individuals representing a company or acting as a director, according to a notification. The amendment comes a week after the government brought in chartered accountants, company secretaries, and cost and work accountants under its fold, requiring …
Indian govt further expands scope of money laundering law Read More »
By Sarita Chaganti Singh and Jayshree P Upadhyay NEW DELHI/ MUMBAI (Reuters) – India’s market regulator has issued legal notices to government owned PTC India and its financial services unit PTC India Financial Services (PFS), demanding explanations of alleged corporate governance lapses, two people familiar with the matter said. PTC India, a power trading company, …
India market regulator issues notices to PTC India financial arm Read More »
By Rama Venkat BENGALURU (Reuters) – Shares of India’s Mankind Pharma Ltd ended with gains of 31.7% in their trading debut on Tuesday, valuing the maker of Manforce condoms at 569.76 billion rupees ($6.97 billion) in a rare instance of a successful domestic public listing this year. Mankind’s 43.26 billion rupees initial public offering (IPO) …
India’s Mankind Pharma soars 32% in rare successful market debut Read More »
BENGALURU (Reuters) – Indian tyre maker Apollo Tyres Ltd. reported a nearly four-fold rise in fourth-quarter profit on Tuesday, beating estimates, aided by lower rubber costs and strong domestic auto sales. The company’s consolidated profit nearly quadrupled to 4.27 billion rupees ($52.21 million) in the quarter ended March 31 from 1.13 billion rupees a year …
India’s Apollo Tyres beats Q4 profit view on lower rubber costs, strong demand Read More »
By Ira Dugal and Aftab Ahmed MUMBAI (Reuters) – India’s national pension scheme offers “exceedingly good” returns of 9-12%, compared to most benchmarks, a top official at the pension fund regulator said on Tuesday. The National Pension Scheme, adopted in 2004, has recently come under criticism for inadequate returns, leading to a few state governments …
India’s pension scheme returns ‘exceedingly good’ versus benchmarks – regulator Read More »
By Nimesh Vora MUMBAI (Reuters) – India’s foreign exchange reserves are at a comfortable level currently, benefiting from the Reserve Bank of India’s persistent intervention and the likelihood of less volatile revaluation changes, economists said. India’s forex reserves reached a 10-month-high of $588.8 billion in the week through April 28, recovering from a drop to …
India’s forex reserves at comfortable level due to RBI, dollar – economists Read More »
BENGALURU (Reuters) – The Indian arm of Japan’s Mitsubishi Electric Corp said on Tuesday that it will invest 18.91 billion rupees ($231.2 million) to set up a manufacturing facility in the southern state of Tamil Nadu. Mitsubishi Electric India will employ 2004 people for this project, it said in an official statement. ($1 = 81.7800 …
Japan’s Mitsubishi Electric to build India plant for $231 million Read More »
MUMBAI (Reuters) – The Indian rupee on Tuesday fell below 82 per U.S. dollar on Tuesday, likely due to dollar outflows and position squaring, traders said. The rupee was quoted at 82.01 per U.S. dollar by 11:42 a.m. IST, down from 81.7950 in the previous session. There was a likely dollar outflow via a large …
Indian rupee drops below 82/USD, hits 2-week low Read More »
