Reuters India Business

India’s Amrutanjan Health Care sinks on whistleblower allegations

15 Feb 2023

BENGALURU (Reuters) – Shares of India’s Amrutanjan Health Care Ltd plunged as much as nearly 10% on Wednesday, a day after it said an anonymous whistleblower complaint alleged some senior management of “undue enrichment” and “conflict of interest.” Amrutanjan’s shares closed 1.4% lower on Tuesday after the company disclosed the allegations, and were down 8.7% …

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Adani says no refinancing, liquidity issues in bid to calm jittery investors

15 Feb 2023

(This Feb. 14 story has been corrected to fix IHC’s response in the last paragraph, spelling of Hindenburg in paragraph 3) By Sudipto Ganguly and Chris Thomas MUMBAI (Reuters) – India’s Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors …

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Gold cedes gains on hawkish Fed; palladium sinks to near 4-year low

14 Feb 2023

By Seher Dareen (Reuters) – Gold prices gave up gains accrued due to dollar weakness on Tuesday to end the session nearly unchanged as U.S. Federal Reserve officials remained hawkish on rate hikes, while demand concerns sent auto-catalyst palladium sliding to its weakest since August 2019. Spot gold was nearly flat at $1,852.94 per ounce …

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How secret London talks led to Air India’s gigantic plane order

14 Feb 2023

By Aditi Shah and Tim Hepher BENGALURU/PARIS (Reuters) – Air India’s record aircraft deal has put the Tata Group-owned airline in the league of aspiring global carriers. On Tuesday, it provisionally agreed to acquire almost 500 jets from Airbus and Boeing to take on domestic and international rivals. Striking the largest ever deal by one …

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Air India seals record order for almost 500 Airbus, Boeing jets

14 Feb 2023

By Aditi Shah and Tim Hepher BENGALURU/PARIS (Reuters) -Air India unveiled deals on Tuesday for a record 470 jets from Airbus and Boeing, accelerating the rebirth of a national emblem under new owners Tata Group as Europe and the United States hailed deepening economic and political ties with New Delhi. The provisional deals include 220 …

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India’s Adani Enterprises swings to Q3 profit on strong coal trading

14 Feb 2023

BENGALURU (Reuters) – Adani Enterprises reported a swing to third-quarter profit on Tuesday from a loss a year earlier, and said it had made no “material financial adjustments” in the wake of the U.S. short seller report that roiled its shares. The Adani group companies have been under pressure for the past three weeks after …

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Citi halted financing for Trafigura’s nickel deals in October – Bloomberg

14 Feb 2023

(Reuters) – Citigroup Inc stopped financing nickel deals for commodity trader Trafigura with companies linked to Indian businessman Prateek Gupta on Oct. 27, Bloomberg News reported, citing a court filing. Trafigura last week said it booked a $577 million charge in the first half of 2023 after discovering that some nickel cargoes it received did …

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India’s HAL in talks with four countries to export Tejas fighter jets

14 Feb 2023

BENGALURU (Reuters) – India’s state-owned Hindustan Aeronautics Limited is in talks with at least four countries to sell its light-combat aircraft, the company’s top executive said on Tuesday, as New Delhi looks to triple defence exports over the next two years. Malaysia has shortlisted the Tejas light fighter jet for an order of around 10 …

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Boeing sees travel growth as Air India prepares huge jet order

14 Feb 2023

By Krishn Kaushik and Aditi Shah BENGALURU (Reuters) – India’s airlines have bounced back well beyond pre-pandemic levels, Boeing said, as Air India, the country’s national carrier, prepared to unveil an historic order for almost 500 new planes on Tuesday. The U.S. planemaker forecast Indian airline capacity – the number of seats on offer and …

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