Reuters India Business Archives - Page 962 of 1191

Indian electronics maker Dixon expects 12% sales growth this financial year -executive

13 Feb 2023 13 Feb 2023

By Praveen Paramasivam CHENNAI (Reuters) – Indian electronics manufacturer Dixon Technologies, supplier to brands like Samsung and Xiaomi, expects revenue to rise 12% in the current financial year and is considering setting up a plant in Tamil Nadu state, a top executive told Reuters on Monday. Dixon’s Managing Director Atul Lall said the company is …

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India aims to triple defence exports to $5 billion, sell fighter jets, choppers

13 Feb 2023 13 Feb 2023

By Krishn Kaushik and Aditi Shah BENGALURU (Reuters) -Indian Prime Minister Narendra Modi on Monday set out ambitions to more than triple annual defence exports to $5 billion over the next two years, as arms firms flocked to a major air show for a slice of the nation’s massive import budget. The country is looking …

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Indian central bank to hike rates again on sticky inflation, Fed pressure – analysts

13 Feb 2023 13 Feb 2023

By Dharamraj Dhutia and Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India is likely to raise interest rates once again in April as inflation pressures persist and the Federal Reserve continues to tighten, analysts said on Thursday, a day after the central bank delivered what many had expected to be its last hike …

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Apple supplier Salcomp sees India revenue of $2-$3 billion, plans rapid hiring

13 Feb 2023 13 Feb 2023

By Praveen Paramasivam CHENNAI (Reuters) – Finland’s Salcomp, a supplier to Apple, plans to double its workforce in India to 25,000 over the next three years, targeting annual revenue in the country of at least $2 billion to $3 billion by 2025, a top company executive said on Monday. The plans come as Apple shifts …

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Indian exporters boost euro hedges after rally to near two-year high

13 Feb 2023 13 Feb 2023

By Anushka Trivedi and Nimesh Vora MUMBAI (Reuters) – Some Indian exporters are stepping up hedges of their future euro receipts on bets of limited upside to the rupee after the common currency’s recent rally, analysts said. The EUR/INR pair soared to 90.44 on Feb. 2, just ahead of the European Central Bank meeting, its …

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India’s January wholesale passenger vehicle volume up on consumer sentiment – SIAM

13 Feb 2023 13 Feb 2023

BENGALURU (Reuters) – India’s wholesale passenger vehicles sales volume grew 17.2% in January on the back of strong demand for utility vehicles (UV) and better consumer sentiment, the Society of Indian Automobile Manufacturers (SIAM) said on Monday. Wholesale passenger vehicle volumes rose to 298,093 units – a record-high for January – from 254,287 units a …

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Indian shares fall ahead of inflation data; Adani stocks slide

13 Feb 2023 13 Feb 2023

BENGALURU (Reuters) – Indian shares were off to a muted start on Monday, ahead of domestic retail inflation data due later in the day and U.S. inflation data due tomorrow, while the ongoing uncertainty and spillover effects from the Adani Group’s market rout continued to create an overhang. The Nifty 50 index was down 0.29% …

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Adani group firms pledge additional shares for key lender

11 Feb 2023 11 Feb 2023

(Reuters) -Three Adani group companies have pledged additional shares for State Bank of India (SBI), a key lender to the Indian conglomerate whose listed entities have lost more than $100 billion in market value after a scathing report by a U.S. short seller. Adani Ports and Special Economic Zone, Adani Transmission Ltd and Adani Green …

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G20 exploring cryptocurrency regulation, India’s finance minister says

11 Feb 2023 11 Feb 2023

By Nikunj Ohri (Reuters) – The Group of 20 (G20) big economies is exploring whether the group could collectively regulate cryptocurrencies, Finance Minister Nirmala Sitharaman said on Saturday. Given the sophisticated technologies involved with these virtual assets, countries must discuss whether a given regulation is needed, said Sitharaman, whose country is this year’s G20 president. …

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Indian regulators aware of concerns on Adani issue, finance minister says

11 Feb 2023 11 Feb 2023

NEW DELHI (Reuters) – Indian regulators are aware of concerns regarding the Adani Group conglomerate, the finance minister said on Saturday, responding to comments by the Supreme Court regarding the need for investor protection. The regulators were experienced and seized of the matter, Nirmala Sitharaman told reporters after meeting the central bank’s directors in New …

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