Reuters India Business

By Pritam Biswas (Reuters) -Novelis, owned by Indian billionaire Kumar Mangalam Birla’s Hindalco Industries, is targeting a valuation of up to $12.6 billion in its initial public offering in the United States, the aluminum products maker said on Tuesday. The world’s largest recycler of aluminum, whose customers include Coca-Cola, Ford, Jaguar LandRover, said its parent …

Aluminum recycler Novelis targets up to $12.6 billion valuation in US IPO Read More »

By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) – A U.S. lobby group representing tech giants Google, Amazon and Apple has asked India to rethink its proposed EU-like competition law, arguing regulations against data use and preferential treatment of partners could raise user costs, a letter shows. Citing increasing market power of a few …

Google, Amazon, Apple lobby group opposes India’s EU-like antitrust proposal Read More »

By Aditya Kalra NEW DELHI (Reuters) – Japan’s Sony has appointed a Walt Disney executive, Gaurav Banerjee, as its new India chief executive to lead its television and other media businesses, two people familiar with the matter told Reuters on Tuesday. Banerjee has resigned from Disney’s India unit where he was the head of content …

Sony appoints Disney’s Banerjee as new India CEO, sources say Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Tuesday, unable to gain from an uptick in most Asian peers, with traders anticipating rangebound moves until the outcome of India’s general election. The rupee was at 83.1325 against the U.S. dollar as of 09:40 a.m. IST, barely changed from its close …

Rupee lingers in narrow band even as most Asian currencies inch up Read More »

BENGALURU (Reuters) -India’s Adani Enterprises said on Tuesday its board has approved raising of up to 166 billion rupees ($2 billion). The flagship firm of the Adani Group will raise funds via an issue of shares or other securities by way of qualified institutional placements or any other permissible mode, it said in an exchange …

India’s Adani Enterprises to raise up to $2 billion Read More »

(Reuters) – India’s Adani Group has been considering an application for a licence to operate on the country’s public digital payments network and is in talks with banks to finalise plans for a co-branded credit card, the Financial Times reported on Tuesday. The plans to dial up consumer businesses came as billionaire Gautam Adani’s ports-to-power …

India’s Adani Group plans e-commerce, payments ventures, FT reports Read More »

By Manvi Pant and Dimpal Gulwani BENGALURU (Reuters) -Indian equity benchmarks advanced on Tuesday, helped by gains in metal stocks on higher global aluminium prices and an earnings-led rally in pharma shares. The NSE Nifty 50 was up 0.2% at 22,985.75 points, while the S&P BSE Sensex gained 0.1% to 75,475.32 points, as of 11:10 …

Metal, pharma stocks drive Indian benchmarks higher Read More »