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India grants citizenship to first batch of 14 refugees under controversial law

By Sakshi Dayal NEW DELHI (Reuters) – India granted citizenship on Wednesday to a first batch of 14 people under a controversial law that has been criticised for discriminating against Muslims, midway through general elections in which religious divisions have taken centre stage. The Citizenship Amendment Act (CAA) grants citizenship to Hindus, Parsis, Sikhs, Buddhists, Jains, …

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HDFC Bank, consumer stocks weigh on Indian shares; US inflation eyed

By Hritam Mukherjee and Bharath Rajeswaran BENGALURU (Reuters) -Indian shares closed lower on Wednesday, dragged by top private lender HDFC Bank and consumer stocks, while investors buckled up for a highly awaited U.S. inflation print. The blue-chip NSE Nifty 50 fell 0.08% to 22,200.55 points, while the S&P BSE Sensex settled 0.16% lower at 72,987.03. …

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BlackRock bullish on India, seeks to grow government bond ETF share

(Corrects to read ‘global fixed income ETF space’ (not ‘global ETF space’), paragraph 4) By Dharamraj Dhutia MUMBAI (Reuters) – BlackRock Inc, the world’s largest fund manager, is looking to raise its share in India’s $500 billion pool of fully investible government bonds via recently launched exchange traded funds (ETFs), a fixed income strategist at …

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Rupee inches up on foreign banks’ dollar sales, uptick in Asia FX

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was mildly stronger on Wednesday, aided by gains in most Asian currencies ahead of a key U.S. inflation report which is expected to influence investor expectations of when the Federal Reserve will begin to cut policy rates. The rupee was at 83.49 against the U.S. dollar …

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Mumbai billboard collapse crushes homes and cars, kills at least 14

By Hemanshi Kamani and Shilpa Jamkhandikar MUMBAI (Reuters) -Rescue workers used excavators to clear mangled metal debris in their final search for survivors trapped underneath a billboard that collapsed in India’s financial capital of Mumbai, killing at least 14 people. The billboard, bigger than an Olympic-sized swimming pool, crushed a fuel station, homes and cars …

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India’s Apollo Tyres Q4 profit falls on higher tax expenses

BENGALURU (Reuters) – India’s Apollo Tyres Ltd reported a lower profit for the fourth quarter on Tuesday, hurt by increased tax expenses. WHY IT’S IMPORTANT Apollo Tyres, which manufactures tyres for Maruti Suzuki, Mahindra and Mahindra and TVS Motor Company Ltd among others, is one of the major players in the sector, which has a …

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India’s Modi denies stoking divisions to win election, files nomination

By Shivam Patel NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi defended himself against criticism that he is stoking divisions between Hindus and Muslims to win national elections as he filed his nomination on Tuesday for re-election from one of Hinduism’s holiest cities. India began voting April 19 in the seven-phase election in which …

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India’s Bharti Airtel posts Q4 revenue miss on currency devaluation in Africa

BENGALURU (Reuters) -Indian telecom operator Bharti Airtel reported fourth-quarter revenue below expectations on Tuesday, hurt by currency devaluation in Africa. India’s second-ranked telecom carrier by subscribers said consolidated revenue from operations rose 4.4% to 375.99 billion rupees ($4.5 billion) for the three months to March 31, missing analysts’ average estimates of 388.49 billion rupees, as …

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