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NEW DELHI (Reuters) -India has suspended a drugmaker’s manufacturing licence after the World Health Organization flagged contamination in its cough syrups found in the Mashall Islands and Micronesia in April, the government told the parliament on Tuesday. Indian regulators are inspecting drugmakers after cough syrups made in the country were linked to at least 89 …

India suspends another drugmaker’s licence over tainted cough syrup Read More »

BENGALURU (Reuters) -Tata Motors will cancel its ‘A’ ordinary shares, currently trading at a steep discount to the ordinary shares, reducing its overall share count by 4.2%, the automaker said on Tuesday, in its latest move to simplify its securities structure. Tata Motors is the only major listed company with ‘A’ ordinary shares, which, in …

Tata Motors to cancel ‘A’ ordinary shares in latest securities rejig Read More »

BENGALURU (Reuters) -India’s Larsen & Toubro reported a better-than-expected first-quarter profit on Tuesday, boosted by strong performance at its core engineering and construction business, and approved buyback of shares worth up to 100 billion rupees ($1.22 billion). L&T’s consolidated net profit after tax surged 46.5% to 24.93 billion rupees for the quarter ended June 30. …

India’s Larsen & Toubro posts Q1 profit beat, approves $1.22 billion share buyback Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee reached a more-than-two-month-high on Tuesday, supported by dollar inflows and the Chinese yuan’s advance, which few traders said prompted the central bank to intervene. The rupee was at 81.75 to the U.S. dollar by 10:55 a.m. IST, up from 81.8150 in the previous session. It hit …

Rupee rises, traders differ on whether central bank is intervening Read More »

By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator will consider permitting the delisting of companies via fixed price instead of the reverse book-building procedure, Chairperson Madhabi Puri Buch said on Monday. The Securities and Exchange Board of India (SEBI) will issue a discussion paper on the subject by December, the regulator said. In the …

India markets regulator to consider permitting delisting via fixed price Read More »

By Shivam Patel and Fayaz Bukhari NEW DELHI/SRINAGAR (Reuters) – India’s apple production is expected to nearly halve this year after heavy rains and flash floods wiped out about $122 million worth of fruit in the main producing Himalayan region, officials and farmer unions said. The mountainous Kashmir territory and Himachal Pradesh produce nearly all …

India to face apple crunch as heavy rain hits production Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were marginally lower on Monday, dragged by index heavyweight Reliance Industries after its quarterly results and the caution in global equities ahead of key central bank meetings later this week. The Nifty 50 index dipped 0.06% to 19,733.90 as of 9:38 a.m. IST, while the S&P BSE Sensex …

Reliance weighs on Indian shares ahead of key cenbank meetings Read More »