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By Sethuraman N R and Dhwani Pandya BENGALURU/ MUMBAI (Reuters) -India’s No.1 software services exporter Tata Consultancy Services warned about near-term softness in demand from clients despite reporting a slightly better-than-expected quarterly profit on Wednesday. TCS is the first among its peers to report quarterly results, setting the tone for a $245 billion industry that …

India’s TCS warns about demand softness despite Q1 beat Read More »

BENGALURU (Reuters) – Patanjali Foods’ largest shareholder Patanjali Ayurved said on Wednesday it plans to sell up to 9% of its stake in the edible oil maker to align with rules on minimum public shareholding. Patanjali Ayurved currently owns close to 40% stake in the company and along with other influential shareholders, known as promoters, …

India’s Patanjali Foods top shareholder to sell up to 9% stake Read More »

NEW DELHI (Reuters) -India’s industrial output rose 5.2% year-on-year in May, data from the Ministry of Statistics showed on Wednesday. Analysts in a Reuters poll had forecast an expansion of 4.8%. Industrial output for April was revised to 4.5% from 4.2%. Manufacturing, which accounts for about 17% of the Indian economy, rose 5.7% year-on-year in …

India’s industrial output rose 5.2% in May Read More »

By Manoj Kumar and Jatindra Dash and Sumit Khanna BHUBANESWAR, India (Reuters) – The world’s major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations have rushed …

Global accounting firms set up shop in India’s smaller cities Read More »

By Siddhi Nayak MUMBAI (Reuters) – The Reserve Bank of India is targeting one million transactions per day through the central bank digital currency (CBDC) by the end of this year, a top Reserve Bank of India (RBI) official said on Tuesday. The RBI has devised the e-rupee as a digital alternative to physical cash …

India cenbank eyes one million digital currency transactions daily by year-end – deputy gov Read More »

(Reuters) -Indian billionaire Gautam Adani is considering a bid for the bankrupt coal-fired power plants belonging to industrialist Anil Ambani, Bloomberg News reported on Tuesday, citing people familiar with the matter. The plants are currently being auctioned by an Indian bankruptcy court. Adani may face tough competition for Ambani-owned Vidarbha Industries Power Ltd, which operates …

India’s Adani mulls bidding for Anil Ambani’s bankrupt coal plants- Bloomberg Read More »

BENGALURU (Reuters) – Taiwan’s Foxconn pulled out of a semiconductor joint venture with Vedanta after India’s government raised questions over its application for an incentive scheme for chip production, a source familiar with the matter said. Foxconn and Vedanta did not respond immediately to requests for comment. (Reporting by Aditya Kalra in New Delhi and …

India raised questions over Foxconn-Vedanta chip incentive plan -source Read More »

MUMBAI (Reuters) – India’s Godrej Aerospace expects 1 billion Indian rupees ($12.10 million) in revenue from civil aviation business in its current financial year, associate vice president Maneck Behramkamdin said on Monday. The company is also in talks with some suppliers of Airbus and <Boeing BA.N> to manufacture aircraft parts, Behramkamdin told Reuters. ($1 = …

India’s Godrej Aerospace expects $12.1 million in civil aviation revenue Read More »