By Rama Venkat BENGALURU (Reuters) -Consumer and metal stocks dragged Indian shares lower on Thursday after two straight sessions of gains, as weak U.S. economic data stoked recession fears in global markets. The Nifty 50 index was down 0.32% at 18,107.85 at close, while the S&P BSE Sensex declined 0.31% to 60,858.43. “The crucial issue …
Indian shares end lower as consumer, metals decline Read More »
(Reuters) -Sun Pharmaceutical Industries Limited, India’s largest drugmaker, said on Thursday it will acquire U.S.-based Concert Pharmaceuticals for $576 million in cash to gain access to its experimental drug for treating patchy baldness. The deal is the Indian drugmaker’s biggest since its $3.2 billion acquisition of generic drugmaker Ranbaxy Laboratories Ltd in 2014, according to …
India’s Sun Pharma acquires U.S.-based Concert for $576 million Read More »
NEW DELHI (Reuters) – India’s eastern state of Odisha on Thursday approved ArcelorMittal Nippon Steel India’s $4.68 billion steel plant project, a government statement said. The plant, to be built by the joint venture between ArcelorMittal SA and Nippon Steel Corp, will have annual production capacity of 7 million tonnes, Odisha’s government said. “(The project) …
ArcelorMittal-Nippon venture wins approval for $4.7 billion Indian steel plant Read More »
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – Startups in India cheered a decision by the Supreme Court on Thursday to uphold an antitrust order that forces Google to change how it runs its popular Android platform, saying the ruling would open the market for rivals and boost competition. The Competition Commission of …
Indian startups rejoice as Android ruling against Google upheld Read More »
By Arpan Chaturvedi, Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -Google on Thursday lost its fight in India’s Supreme Court to block an antitrust order, in a major setback that will force the U.S. tech giant to change the business model of its popular Android operating system in a key growth market. The Competition …
Google loses bid to block Indian Android antitrust ruling in major setback Read More »
NEW DELHI (Reuters) -India’s junior IT minister on Thursday said there was no issue with cryptocurrencies in India if all laws are followed, in remarks that contradicted the central bank’s view advising investors to stay away from crypto. India has been trying to come up with regulation for cryptocurrencies, with a central bank deputy governor …
No issue with crypto in India if laws are followed – minister Read More »
BENGALURU (Reuters) – India’s Hindustan Zinc, owned by mining conglomerate Vedanta Group, reported a drop in third-quarter profit on Thursday, hit by lower zinc prices and silver production. The zinc, silver and lead miner said consolidated net profit fell 20.2% year-over-year to 21.56 billion rupees (about $265 million) in the quarter ended Dec. 31. The …
Indian miner Hindustan Zinc’s Q3 profit falls on lower prices, output Read More »
MUMBAI (Reuters) – India’s Housing Development Finance Corp plans to raise funds by issuing commercial papers maturing in one year, three merchant bankers said on Thursday. The non-banking finance company will offer a yield of 7.88% on this issue, and has received commitments worth 6.50 billion rupees ($79.89 million) so far, they said. The notes …
BENGALURU (Reuters) -Walmart-owned Indian digital payments app PhonePe said on Thursday it has raised $350 million at a valuation of $12 billion in a funding round led by private-equity firm General Atlantic. Funding rounds backed by venture capital firms have slowed down, with Indian startups having raised a third lesser last year than in 2021, …
India’s PhonePe raises $350 million at $12 billion valuation Read More »
BENGALURU (Reuters) -Major investors of Indian car service and repair firm GoMechanic have ordered a probe after they were made aware of serious inaccuracies in the startup’s financial reporting. The investors – Tiger Global, Sequoia Capital and Chiratae Ventures – have jointly appointed a third-party firm to investigate the matter in detail, they said in …
Investors of India’s GoMechanic seek audit into ‘inflated’ financials Read More »
