BENGALURU (Reuters) – Indian state-run lender Punjab National Bank said on Wednesday it would raise up to 120 billion rupees ($1.46 billion) in one or two tranches, through the issue of bonds. The lender said it would raise up to 70 billion rupees from the issue of Additional Tier 1 (AT1) bonds and the remaining …
India’s Punjab National Bank to raise $1.5 billion via bonds Read More »
NEW DELHI (Reuters) -An Indian tribunal on Wednesday gave partial relief to Alphabet Inc’s Google by setting aside four of 10 antitrust directives in a case related to abuse of its dominant position in Android. The Competition Commission of India (CCI) said in October that Google had exploited its dominant position in Android and told …
Google scores partial victory in Android antitrust case in India Read More »
(Reuters) -India’s GoMechanic was acquired by a consortium led by car parts manufacturer Lifelong Group on Wednesday, ending months of uncertainty after the beleaguered car servicing startup announced job cuts and an independent review into its finances. Financial details of the deal was not disclosed. GoMechanic and its investor Stride Ventures, which helped the process, …
India’s GoMechanic acquired by consortium led by car parts maker Lifelong Read More »
(Reuters) – Ratings agency Fitch said two Adani Group subsidiaries are exposed to “heightened contagion risks”, possibly affecting their financial flexibility, due to governance weakness at the parent conglomerate and other Adani group companies. Fitch said that Adani Transmission Ltd and Adani Ports and Special Economic Zone are prone to risks, according to a note …
Fitch says contagion risks loom over two Adani entities Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Financials led a rally in Indian shares on Wednesday, mirroring the rise in their Asian peers as easing worries over the global banking turmoil whet risk appetite, while Adani group stocks rebounded. The Nifty 50 index was up 0.41% at 17,019.95 as of 11:03 a.m. IST. The S&P BSE Sensex …
Financials lead Indian shares higher, Adani stocks rebound Read More »
By Dharamraj Dhutia and Anushka Trivedi MUMBAI (Reuters) – Foreign inflows into Indian government bonds, which showed signs of a pick-up late last year, may not sustain as yields are unlikely to fall due to sticky inflation and large government borrowings, foreign investors said. Foreign investors have bought government bonds worth 152.50 billion rupees ($1.85 …
Trickle of foreign inflows to Indian bonds may not speed up in next FY – analysts Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee, after adjusting for the fiscal year carry cost, was lower versus the U.S. dollar on Wednesday amid higher U.S. yields and dollar inflow expectations. The rupee was at 82.26 to the dollar at 10:20 a.m. IST, compared with 82.1875 in the previous session. The spot date …
Rupee inches lower, dollar inflows expected to cap downside Read More »
BENGALURU (Reuters) – Vedanta Ltd on Tuesday declared a fifth interim dividend for the fiscal year ending March 31 even as the company’s parent, Vedanta Resources, scrambles to secure fresh loans and refinance existing debt. The Indian natural resources company declared interim dividend of 20.50 rupees per share. The move comes days after a report …
India’s Vedanta declares fifth interim dividend as debt pressures mount at parent Read More »
By Deep Kaushik Vakil (Reuters) – Gold prices rose on Tuesday, drawing support from a weaker U.S. dollar even as higher bond yields and easing worries about a full-blown banking crisis limited gains for the safe-haven asset. Following two sessions of declines, spot gold gained 0.7% to $1,970.88 per ounce by 1:40 p.m. EDT (1740 …
Gold rises on dollar dip, banking optimism limits gains Read More »
BENGALURU (Reuters) – Indian automaker SML Isuzu Ltd said on Tuesday it will raise prices of its trucks and buses from April 1 to offset higher input costs due to inflation and new safety and emission norms. The company said it will increase prices for its truck models by up to 4% and by up …
India’s SML Isuzu to hike prices to offset higher input costs Read More »
