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By Aditya Kalra NEW DELHI (Reuters) -Deloitte has decided to resign as auditor of India’s Adani Ports amid concerns over certain transactions flagged in a report by Hindenburg, which the company did not wish to independently look into, a source with direct knowledge said. Deloitte in May had pointed to certain transactions flagged by the …

Deloitte to quit as Adani Ports’ auditor over concerns flagged by Hindenburg -source Read More »

By Aditi Shah NEW DELHI (Reuters) – Exponent Energy, an Indian rapid charging startup, is in talks with new and existing investors to raise money to expand its energy services business to three-wheeled passenger vehicles and buses, its chief executive told Reuters in an interview. The maker of electric vehicle batteries that can be fully …

Indian startup Exponent eyes funding to grow rapid charging business Read More »

By Arpan Chaturvedi NEW DELHI (Reuters) -India paved the way on Thursday for a $10 billion media and entertainment powerhouse, giving Zee Entertainment and the Indian unit of Japan’s Sony Group a key merger approval. Zee’s shares were up 16.6% after the National Company Law Tribunal cleared the long-delayed deal to create a company which …

India clears Sony-Zee deal to form $10 billion entertainment powerhouse Read More »

By Nidhi Verma NEW DELHI (Reuters) – India has flagged concerns over volatility in the global oil prices to major oil producers and organisations, oil minister Hardeep Singh Puri told lawmakers on Thursday. India, the world’s third biggest oil importer and consumer, ships in over 80% of its oil needs from overseas. “Government has been …

India raises concerns over oil market volatility with producer countries Read More »

BENGALURU (Reuters) – India’s Apollo Tyres reported a bigger-than-expected rise in quarterly profit on Thursday, boosted by lower rubber costs and strong domestic auto sales. The company’s consolidated profit more than doubled to 3.97 billion rupees ($48.07 million) in the three months ended June 30 from 1.77 billion rupees a year earlier. Analysts, on average, …

India’s Apollo Tyres Q1 profit more than doubles on lower costs Read More »

BENGALURU (Reuters) – Engineering firm Honeywell Automation India reported its slowest profit growth in five quarters on Thursday, as expenses, led by the rising costs, outpaced revenue. The Indian arm of U.S. conglomerate Honeywell International Inc reported profit grew a marginal 1.4% to 1.03 billion Indian rupees ($12.46 million) in the first quarter ended June …

Honeywell Automation India’s profit growth slows as expenses climb Read More »

By Krishn Kaushik NEW DELHI (Reuters) – Indian Interior Minister Amit Shah on Wednesday blamed the unrest in Myanmar for the ethnic conflict in the neighbouring northeastern Indian state of Manipur, urging both sides in the Manipur dispute to resolve their dispute through dialogue. Shah told parliament that political instability in Myanmar had prompted thousands …

India minister blames unrest in neighbouring Myanmar for Manipur bloodshed Read More »