By Swati Bhat MUMBAI (Reuters) – India’s central bank is widely expected to raise its policy interest rate by a quarter percentage point to mark its final increase in the current tightening cycle on Wednesday before pausing to assess the impact of its hikes, economists said. “With inflation now having clearly passed the peak and …
India’s central bank widely seen delivering final 25 bps hike Read More »
CHENNAI (Reuters) – India’s Varun Beverages reported a better-than-expected quarterly profit on Monday as the Pepsi bottler benefited from price increases and demand for its pricier drinks, including the Sting energy brand. The company, which has been making and bottling PepsiCo-branded drinks for three decades, said profit for the fourth quarter that ended Dec. 31 …
Pepsi India bottler beats profit view on higher soda demand, price hikes Read More »
By Nidhi Verma BENGALURU (Reuters) -Indian Oil Corp will sign an agreement with LanzaJet to produce cleaner aviation fuel at its Panipat refinery in northern India, the state-run refiner’s Chairman S. M. Vaidya told Reuters on Monday. Chicago, U.S.-based LanzaJet helps companies produce aviation fuel from ethanol manufactured from agricultural or industrial waste, counting Microsoft, …
Indian Oil to partner with LanzaJet to produce cleaner aviation fuel Read More »
BENGALURU, India (Reuters) – India needs to invest $10 trillion for energy transition by 2070, the country’s power secretary Alok Kumar told Reuters. India has set a goal of 2070 for net zero carbon emissions. (Reporting by Nidhi Verma; Editing by Toby Chopra)
MUMBAI (Reuters) -India’s market regulator moved to calm investor concerns on Saturday, saying that its financial markets remain stable and continue to function in a transparent and efficient manner, despite recent dramatic stock falls in Adani Group companies. Shares in Adani Group firms, controlled by billionaire tycoon Gautam Adani, have dropped by $100 billion, or …
Indian watchdog tells investors markets stable despite Adani rout Read More »
(Reuters) – India’s Axis Bank on Saturday said its exposure to Adani Group entities stood at 0.94% of its net advances on Dec. 31, adding that it remained comfortable with its exposure. “Our exposure to Adani Group is primarily to the operating companies in the Ports, Transmission, Power, Gas Distribution, Roads, Airports etc,” the bank …
India’s Axis Bank says it is comfortable with exposure to Adani Group Read More »
By Nikunj Ohri and Shivangi Acharya New Delhi (Reuters) – Foreign portfolio investors will lose a preferential tax rate on interest from Indian government securities and corporate and foreign currency bonds, a senior tax official said on Saturday. Foreign portfolio investors have been enjoying a lower 5% tax on interest earned on bonds since 2013, …
Foreign portfolio investors in India to pay higher tax on debt securities -official Read More »
(Reuters) -Adani Enterprises Ltd has shelved a plan to raise as much as 10 billion Indian rupees ($121.65 million), Bloomberg News reported on Saturday. The flagship firm of Indian billionaire Gautam Adani’s empire had planned the public note issuance for January, working with Edelweiss Financial Services Ltd, AK Capital, JM Financial, and Trust Capital, but …
Adani Enterprises shelves $122 million bond plan – Bloomberg News Read More »
By Nidhi Verma NEW DELHI (Reuters) – Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars, four sources with knowledge of the matter said. While Western sanctions against Moscow are not recognised by India, and purchases of Russian oil may …
Exclusive-Indian refiners pay traders in dirhams for Russian oil Read More »
BENGALURU (Reuters) – Indian fintech company Paytm reported a 41.6% rise in third-quarter revenue on Friday, helped by soaring loan growth, and said it achieved operating profitability three quarters ahead of guidance. Paytm’s parent, One 97 Communications Ltd, said revenue rose to 20.62 billion rupees in the October-December quarter from 14.56 billion rupees a year …
India’s Paytm quarterly revenue up 42%, posts surprise operating profit Read More »
