BENGALURU (Reuters) – India’s JK Tyre & Industries Ltd on Wednesday reported a nearly three-fold rise in fourth-quarter profit, as raw material costs fell and domestic demand saw a boost. The tyre-maker’s consolidated net profit rose to 1.08 billion rupees ($13.2 million) in the quarter ended March 31, from 402 million rupees a year earlier, …
India’s JK Tyre reports nearly three-fold increase in Q4 profit Read More »
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -Tesla Inc has proposed setting up a factory in India to build electric cars for domestic sale and export, the carmaker told government officials on Wednesday, according to a source with direct knowledge of the matter. The proposal comes after India refused to agree to Tesla’s …
Tesla restarts India market talks with new factory proposal – source Read More »
MUMBAI (Reuters) – India’s HDFC Bank said on Wednesday that the Reserve Bank of India had allowed SBI Funds Management Ltd to acquire a stake of up to 9.99% in the private lender. The RBI has “advised” SBI Funds Management—a joint venture between State Bank of India and France’s AMUNDI—to acquire the stake by Nov. …
India cenbank clears SBI Funds to buy up to 9.99% stake in HDFC Bank Read More »
BENGALURU/CHENNAI (Reuters) – Restaurant Brands Asia Ltd, earlier known as Burger King India, reported a wider fourth-quarter loss on Wednesday, as it spent more on ingredients at a time when it is also expanding in India and Indonesia. Restaurants in India have been feeling the pinch from rising costs of essentials such as cheese and …
Burger King’s India operator posts bigger loss as costs rise Read More »
By Munsif Vengattil NEW DELHI (Reuters) -India on Wednesday unveiled an expanded incentive scheme to attract big-ticket investments in IT hardware manufacturing, doubling the amount to $2 billion as it aims to spur domestic production of laptops and tablets. The programme, which also covers personal computers and servers, is expected to benefit global and Indian …
India launches $2 billion incentive package to boost IT hardware production Read More »
By David Stanway SINGAPORE (Reuters) – Record-breaking heatwaves that hit large parts of South and Southeast Asia in April were made “30 times more likely” as a result of human-induced climate change, an international team of scientists said on Wednesday. The region saw temperatures in excess of 40 degrees Celsius (104 Fahrenheit) last month, with …
By Sethuraman N R MUMBAI (Reuters) – The Indian rupee hit a more-than-six-week low against the U.S. dollar on Wednesday, in line with the decline in other Asian currencies that tracked the fall in the Chinese yuan after weak economic data. The rupee hit 82.4425 against the U.S. dollar, its lowest since April 3, during …
Indian rupee hits six-week low as weaker yuan dents Asian currencies Read More »
By Krishn Kaushik and Fayaz Bukhari NEW DELHI/SRINAGAR (Reuters) – India has stepped up security in the Jammu and Kashmir region because of an increase in militant attacks in the run-up to a G20 meeting on tourism in the Himalayan territory, officials said on Wednesday. The city of Srinagar, the summer capital of the federal …
India boosts security for G20 meeting in Kashmir after attacks Read More »
NEW DELHI (Reuters) – If Lucknow Super Giants are on the verge of making the playoff of the Indian Premier League (IPL) for the second time in two years, it is because they have no “absolute superstars” in the team, said all-rounder Marcus Stoinis. Lucknow finished third on their IPL debut last year and are …
Cricket-No superstars, no problem as Lucknow close in on IPL playoff Read More »
By Nimesh Vora MUMBAI (Reuters) – The bullish outlook on the Indian rupee that several foreign banks have is facing a tough test from the Reserve Bank of India’s persistent intervention to shore up reserves. Back in March, analysts from at least three foreign banks projected that the rupee is likely to rally against the …
Bullish view on Indian rupee thwarted by wall of cenbank intervention Read More »
