BENGALURU (Reuters) – Shares of Tech Mahindra Ltd surged nearly 10% on Monday after the Indian information technology services firm appointed Infosys Ltd veteran Mohit Joshi as its new managing director and chief executive officer. Joshi has been with rival Infosys for 22 years, and is currently the president at the company. He will take …
India’s Tech Mahindra soars 10% as Infosys veteran to join as CEO Read More »
BENGALURU (Reuters) – The Indian arm of Hyundai Motor Co said on Monday it had signed a term sheet to buy General Motors Co’s plant in the western state of Maharashtra. The term sheet covers proposed acquisition of land and buildings, certain machinery and equipment for manufacturing at the plant, Hyundai added in a statement. …
Hyundai Motor’s India unit to buy plant from General Motors Read More »
(Reuters) – Adani Group said it had completed full prepayment of margin-linked share-backed financing worth $2.15 billion as part of its debt prepayment plan, before its deadline of March 31. The Gautam Adani-owned conglomerate also prepaid a $500 million facility it had taken for Ambuja acquisition financing, it said in a statement on Sunday, adding …
India’s Adani prepays $2.15 billion share-backed loans Read More »
MUMBAI (Reuters) -India’s state minister for technology said on Sunday he will meet start-ups this week to assess the impact on them of Silicon Valley Bank’s collapse, as concerns rise about the fallout for the Indian start-up sector. California banking regulators shut down Silicon Valley Bank (SVB) on Friday after a run on the lender, …
India tech minister plans to meet startups on SVB fallout Read More »
By Nikunj Ohri (Reuters) – The Indian government may put a plan to sell part of its stake in Hindustan Zinc (HZL) on hold unless the company calls off the nearly $3 billion cash acquisition of two Vedanta Group subsidiaries, a senior government source said. The government is the largest minority shareholder in HZL with …
Indian govt may put Hindustan Zinc share sale plan on hold – source Read More »
NEW DELHI (Reuters) – India and Australia aim to expand trade in critical mineral to help them achieve their goals on reducing carbon emissions, as they seek a broad trade pact, Indian Commerce Minister Piyush Goyal said Saturday. “India is short of critical minerals. Australia has a large reserve of critical minerals that go into …
India, Australia aim to boost critical mineral trade in broader deal – ministers Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed sharply lower and Treasury yields extended their slide on Friday over fears of contagion in the financial sector and strong February employment data showing the economy added more jobs than expected. All three major U.S. stock indexes ended the session down more than 1%, with …
Wall Street dives, Treasury yields tumble as bank worries spread Read More »
By Herbert Lash NEW YORK (Reuters) – The dollar weakened on Friday after U.S. labor data for February showed slower wage growth, suggesting an easing of inflation pressures may keep the Federal Reserve’s pace of interest rate hikes modest and thereby reduce the greenback’s appeal. The U.S. economy added jobs at a brisk clip in …
Dollar weakens after U.S. jobs data suggests slower rate hike path Read More »
By Seher Dareen (Reuters) – Gold prices jumped nearly 2% on Friday, driven by a slide in U.S. Treasury yields and broader financial markets as worries over a fallout in the banking sector eclipsed a strong U.S. jobs report and drove safe-haven flows into bullion. Spot gold was up 1.8% at $1,863.46 per ounce by …
Gold rallies on safe-haven allure as banking rout grips markets Read More »
By Nikunj Ohri and Dharamraj Dhutia (Reuters) – The Indian government is concerned about rising yields on Treasury-bills and will take appropriate remedial measures, a government source told Reuters on Friday. The spike is “unreasoned”, and the government may look at cutting its 2022-23 borrowing through this debt instrument, said the source, who refused to …
India govt concerned at T-bill yield spike, may take measures – source Read More »
