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NEW DELHI, March 31 (Reuters) - Indian billionaire Anil Agarwal is challenging fellow tycoon Gautam Adani's winning bid for a bankrupt real estate giant in the Supreme Court, intensifying the fight over a $4 billion pool of prized assets that includes the country's only Formula One track. Agarwal's Vedanta has mounted a legal challenge over a creditor committee's decision to award the assets of Jaiprakash Associates (JAIA.NS), opens new tab to Adani, a portfolio that includes homes, power, ceme ...Read More >
March 31 (Reuters) - India's Zetwerk has filed confidential draft papers with the market regulator for its initial public offering, a newspaper advertisement on Tuesday showed. Earlier this month, Reuters reported that the contract electronics manufacturer was aiming to raise up to $550 million at a valuation of about $4 billion. The company is targeting a listing later this year, the sources said, adding that the IPO includes about $300 million in fresh equity, with the remainder coming from ...Read More >
NEW DELHI, March 30 (Reuters) - India on Monday approved 29 proposals from various companies under its electronics component manufacturing program, with a total investment of 71.04 billion rupees ($751.21 million), the Electronics and Information Technology Ministry said. India has launched a series of incentive programs to attract global and domestic investors, expand local manufacturing capacity, reduce import dependence and strengthen supply chains as it looks to improve its electronics man ...Read More >
MUMBAI, March 30 (Reuters) - India's HDFC Bank (HDBK.NS), opens new tab delayed taking action against officials involved in the mis-selling of additional tier 1 bonds to investors in Dubai, Atanu Chakraborty, the former chairman of the lender told CNBC-TV18 in an interview broadcast on Monday. Chakraborty abruptly resigned from the bank's board earlier this month, citing differences over "values and ethics" and triggering a stock selloff and a damage control exercise by the lender. HDFC Bank t ...Read More >
MUMBAI, March 30 (Reuters) - Indian bonds tumbled in the fiscal year ending March, snapping a two-year rising streak, as demand weakened and the Middle East war sent oil prices surging, outweighing the impact of record debt purchases and cash infusion by the central bank. Elevated oil prices threaten to raise inflation and widen India's current account deficit, and could force the central bank to start raising policy rates earlier than anticipated. Bonds could extend their losing run in the we ...Read More >
BENGALURU, March 30 (Reuters) - India on Monday proposed changes to its IT law to make advisories and clarifications legally binding on internet platforms such as Meta (META.O), opens new tab, Google (GOOGL.O), opens new tab and X, the latest in a string of stricter compliance requirements for tech giants. Prime Minister Narendra Modi's government this year compressed the timeline for platforms to take down content flagged by authorities to three hours, from 36 hours previously, and has impose ...Read More >
NEW DELHI, March 30 (Reuters) - India has adequate stocks of fertilizers and is tapping alternative sources to boost supplies for the summer-sown crops, a senior government official in the Ministry of Chemicals and Fertilizers said on Monday. The Gulf region accounted for about 20% to 30% of India's urea imports and 30% of Diammonium Phosphate (DAP) prior to the Iran war, Aparna Sharma, additional secretary in the ministry, told a media briefing. India expects to need 39 million metric tons of ...Read More >
NEW DELHI, March 30 (Reuters) - India has proposed an overhaul of its bankruptcy law, including allowing financial creditors to initiate insolvency proceedings and tightening deadlines, in a bid to speed up resolutions and promote ease of doing business. Resolutions of stressed assets in India have been delayed despite a mandated 330-day timeline under the Insolvency and Bankruptcy Code, introduced in 2016, largely due to procedural and legal hurdles. Cases often pile up for admission at the Na ...Read More >
The Indian Premier League (IPL) 2026 season has barely begun, but it has already delivered its first major controversy. Following Kolkata Knight Riders' (KKR) six-wicket defeat to Mumbai Indians (MI) at the Wankhede Stadium, a pointed remark from captain Ajinkya Rahane has triggered a wider debate - forcing Cricket Australia (CA) to step in with a clarification. At the centre of the storm is Cameron Green, KKR's high-profile signing worth INR 25.20 crore, who did not bowl a single over despite ...Read More >
NEW DELHI, March 30 (Reuters) - India is accelerating clearances for commissioning of wind power plants and battery energy storage systems as the U.S.-Israeli war against Iran has led to a gas shortfall, the country's junior power minister said on Monday. Although gas accounts for only around 2% of India's total power generation, the South Asian country uses about 8 gigawatt (GW) of gas power during peak-demand periods or heatwaves. "Presently, there are challenges in respect of availability ...Read More >
Oct 23 (Reuters) - Tata Technologies (TATE.NS), opens new tab will recruit more local nationals in the United States, its top boss said, as the Indian engineering services provider reacts to U.S. President Donald Trump's wide-ranging immigration crackdown. The United States plans to charge businesses a steep fee for H1-B visas, used by tech majors including Amazon.com (AMZN.O), opens new tab and Meta Platforms (META.O), opens new tab, in a move the Trump administration said would shield America ...Read More >
Oct 16 (Reuters) - Nestle India (NEST.NS), opens new tab posted a marginal increase in second-quarter profit on Thursday, benefiting from improving urban demand for items such as Maggi noodles and Nescafe coffee, sending its shares up about 5% to a one-year high. The Indian arm of Swiss food major Nestle (NESN.S), opens new tab said profit before exceptional items and tax edged up to 10.29 billion rupees ($117.07 million) for the September quarter. It had booked a one-off gain of 2.91 billion ...Read More >
NEW DELHI: Employees' Provident Fund Organisation's (EPFO) move to allow withdrawals of up to 75% of the corpus will make life easier for its over 7 crore subscribers, while the norms around 25% balance are meant to ensure a healthy kitty, without imposing any restrictions on pension or PF payment at the time of retirement, a top official said. "The idea is to empower members and repose trust. The changes are meant to pave the way for automated settlement of claims," Central Provident Fund commi ...Read More >
MUMBAI/NEW DELHI, Oct 15 (Reuters) - India's market regulator late on Wednesday issued an order against two officials of the country's federal power regulator alleging they traded on price-sensitive information in shares and derivatives of Indian Energy Exchange (IIAN.NS), opens new tab (IEX). The Securities and Exchange Board of India (SEBI) said two officials at the Central Electricity Regulatory Commission (CERC), along with related persons, traded in IEX derivatives and shares ahead of a po ...Read More >
Oct 9 (Reuters) - India's payments authority National Payments Corporation of India and fintech firm Razorpay have collaborated with Microsoft-backed (MSFT.O), opens new tab OpenAI to launch AI-driven payments on ChatGPT, the companies said on Thursday. The initiative, currently in the pilot stage, will allow users to make purchases on ChatGPT, facilitated by India's homegrown payments network Unified Payments Interface (UPI). The pilot will evaluate how the service can be expanded across vert ...Read More >
MUMBAI, Oct 1 (Reuters) - The Reserve Bank of India (RBI) kept its key repo rate unchanged at 5.50% on Wednesday, in line with market expectations, as it evaluates the impact of earlier rate cuts and recent tax reductions amid global trade uncertainties. The central bank had cut the repo rate (INREPO=ECI), opens new tab by a total of 100 basis points in the first half of 2025, but paused at its previous meeting in August. The six-member rate-setting panel voted unanimously to keep the key repo ...Read More >
NEW DELHI, Sept 30 (Reuters) - India's trade pact with four European nations, including Switzerland and Norway, will take effect from Wednesday, boosting exports of textiles, leather and food products while attracting investments, a government statement said. Under the Trade and Economic Partnership Agreement, opens new tab, signed last March after nearly 16 years of negotiations, the European Free Trade Association - comprising Switzerland, Norway, Iceland and Liechtenstein - will cut tariffs ...Read More >
MUMBAI, Sept 30 (Reuters) - The Indian rupee posted its fifth consecutive monthly fall against the U.S. dollar, and hit a record low on Tuesday, as trade tensions between India and the United States escalated, pushing up dollar demand. The rupee settled at 88.7875 against the U.S. dollar, its weakest ever closing level, and down slightly from its close of 88.7600 on Monday. Earlier in the day, the currency declined to an all-time low of 88.8000. The currency fell 0.7% in September, posting it ...Read More >
MUMBAI, Sept 30 (Reuters) - India's imports of gold and silver nearly doubled in September from August, defying record high prices, as banks and jewellers rushed to build inventories ahead of festivals and escape higher taxes on imports, trade and government sources said. Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China. The surge in imports could widen Ind ...Read More >
MUMBAI, Sept 30 (Reuters) - India's National Stock Exchange will offer a daily expiry on GIFT Nifty (.GIFc1), opens new tab contracts to foreign investors via a tax-neutral jurisdiction as it seeks to attract more global funds, diverging from domestic markets' tighter equity derivatives rules. GIFT Nifty is a dollar-denominated derivative contract of the Nifty 50 traded on NSE subsidiary, the NSE International Exchange (NSE IX) in Gujarat International Finance Tech (GIFT) City. In August, the c ...Read More >
Sept 29 (Reuters) - Tata Steel (TISC.NS), opens new tab has signed a non-binding pact with the government of Netherlands to transition to low-carbon emission steel production at its IJmuiden plant, the Indian steelmaker said on Monday. The plant is among the largest polluters in the country and Tata has been in talks with the Dutch government for months over subsidies to help it clean up production processes. The government intends to provide up to 2 billion euros ($2.35 billion) under the pac ...Read More >
Sept 26 (Reuters) - U.S. trade negotiators have told their Indian counterparts that curbing purchases of Russian oil is crucial to reducing India's tariff rate and sealing a trade deal, two people familiar with the talks told Reuters. While trade negotiations are on a positive track, a U.S. official said, more work is needed to ensure India addresses U.S. concerns over market access, the trade deficit and purchases of Russian oil. U.S. President Donald Trump has sought to pressure India, the E ...Read More >
NEW DELHI, Sept 26 (Reuters) - India said on Friday its officials held "constructive" talks with U.S. counterparts during a visit to Washington this week, and both sides agreed to continue discussions aimed at concluding a mutually beneficial trade deal soon. "Both sides exchanged views on possible contours of the deal," the commerce ministry said in a statement. A delegation led by Commerce and Industry Minister Piyush Goyal visited the U.S. from September 22 to 24 and met U.S. Trade Represen ...Read More >
SRINAGAR, India, Sept 26 (Reuters) - Indian police arrested Ladakh activist Sonam Wangchuk on Friday, two days after New Delhi blamed him for violent protests demanding statehood, opens new tab for the Himalayan federal territory in which four people died, and suspended mobile internet services in its main city of Leh. Buildings and police vehicles were torched by angry crowds in Leh on Wednesday, as protesters moved away from a site where Wangchuk had been on hunger strike for 14 days. They cl ...Read More >
Sept 26 (Reuters) - Shares of India's Waaree Energies (WAAN.NS), opens new tab fell 4.5% to 3,288.9 rupees on Friday after U.S. customs officials said they were investigating if the solar panels maker sidestepped tariffs on Chinese-made cells and panels by labeling them as made in India. The U.S. Customs and Border Protection said in a memo on Friday that there was reasonable suspicion that Waaree had failed to label some of its imported products as subject to antidumping and countervailing dut ...Read More >
NEW DELHI, Sept 16 (Reuters) - India's antitrust inspectors have conducted surprise raids at steel pipe makers Jindal SAW (JIND.NS), opens new tab and Maharashtra Seamless (MHSM.NS), opens new tab in an alleged case of bid rigging, two people with direct knowledge of the matter said on Tuesday. The raids were conducted at offices of Jindal SAW and Maharashtra Seamless in and around New Delhi on Monday, and the search operation has now concluded, the two sources said. Reuters is first to report ...Read More >
Gold prices remained largely unchanged on Monday morning, hovering just below record highs, as investors awaited the anticipated rate cut from the US Federal Reserve this week. While the prospect of lower rates continued to support gold, profit-taking and a stronger dollar capped any further gains. At the time of writing, gold futures (GC=F) retreated 0.4% to $3,672.20 per ounce, while the spot price of gold was muted at $3,641.55 a troy ounce, after hitting a record high of $3,673.95 last week ...Read More >
By Pooja Menon and Sumit Saha (Reuters) -Corteva shares fell about 4% on Monday after a report the U.S. agrichemicals company was looking to separate its seed and crop protection chemical businesses stoked concerns about potential operational disruption and value dilution. The combined business model has historically delivered strong synergies, including co-developed seed traits and crop protection products, as well as bundled solutions for farmers. Corteva's potential split of its seed and c ...Read More >
NEW DELHI, Sept 15 (Reuters) - India and the United States will hold trade talks on Tuesday, New Delhi said, raising hopes for a breakthrough weeks after President Donald Trump imposed punitive tariffs on the South Asian nation for buying Russian oil. The move comes after Trump struck a more conciliatory tone in statements last week and expressed optimism that they could finalise a trade deal. The U.S. trade representative for South Asia, Brendan Lynch, will be in New Delhi for one day of talk ...Read More >
NEW DELHI, Sept 15 (Reuters) - India's merchandise trade deficit narrowed in August to $26.49 billion from $27.35 billion in July, as a drop in exports after U.S. President Donald Trump hiked tariffs on Indian goods was offset by slowing imports. The U.S. imposed an additional 25% tariff on Indian goods from August 27 over New Delhi's continued purchases of Russian oil, bringing total levies on Indian exports to 50% - among the highest for any U.S. trading partner. Trade talks between India an ...Read More >
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