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By Sunil Kataria AMBALA, India (Reuters) – Farmers protesting in India this week are using a homemade arsenal to counter the state-of-the-art weaponry of the security forces trying to disperse them: they’re flying kites to ensnare police drones carrying tear gas canisters. For the past two days, thousands of farmers have fought pitched battles with …

Kites battle drones as farmers take on police during India protests Read More »

NEW DELHI (Reuters) – Sonia Gandhi, one of the most prominent leaders of India’s main opposition Congress party, will not contest the upcoming elections, citing her increasing age and depleting health, according to a letter she has written to her constituency. She will continue to have a significant role in Indian politics though, as she …

Indian opposition’s Sonia Gandhi to skip elections, but not politics Read More »

By Alexander Cornwell ABU DHABI (Reuters) – Indian Prime Minister Narendra Modi opened a grand Hindu temple in the United Arab Emirates on Wednesday, capping off a two-day visit to the Muslim nation that is home to around 3.5 million Indians.  A day earlier, tens of thousands of Indians filled a soccer stadium in the …

India’s Modi opens Hindu temple in Muslim UAE as election nears Read More »

By Aditi Shah, M. Sriram and Heekyong Yang NEW DELHI/SEOUL (Reuters) – Hyundai Motor’s planned $3 billion IPO in India will help the carmaker score two goals in one go: expand in one of the world’s fastest growing markets and tackle the so-called “Korea discount” that suppresses the value of its business back home. Hyundai, …

Analysis – Hyundai seeks expansion, higher valuation with India IPO Read More »

BENGALURU (Reuters) – Muthoot Finance, India’s largest gold-loan provider, reported a bigger-than-expected increase in third-quarter profit on Wednesday, as strong loan growth more than offset the higher finance costs. The Kerala-based gold-loan financier’s profit rose nearly 14% to 10.27 billion rupees ($123.7 million) in the quarter ended Dec. 31, beating analysts’ average estimate of 10.12 …

India’s Muthoot Finance beats Q3 profit view on strong loan growth Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee on Wednesday managed to receive support from speculators after opening weaker following the hotter-than-expected U.S. inflation data. The rupee was at 83.0850 to the U.S. dollar at 10:42 a.m. IST compared with 83.0025 in the previous session. The local currency opened at 83.1050 after U.S. consumer …

Rupee supported by speculators after slipping at open Read More »