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July 2 (Reuters) - Airport restaurants operator Travel Food Services has set a price band of 1,045 rupees-1,100 rupees for its initial public offering, a newspaper ad showed on Wednesday, following HDB Financial Services' blockbuster IPO. The price band values Travel Food Services, which plans to raise 20 billion rupees ($233.49 million) via a three-day share sale beginning July 7, at 144.8 billion rupees ($1.69 billion) at the upper end of the range. The issue will consist solely of the compa ...Read More >
Jammu (Jammu and Kashmir) [India], July 2 (ANI): Jammu and Kashmir Lieutenant Governor Manoj Sinha participated in a special aarti at the Jammu Tawi riverfront. Sinha also visited the Amarnath Yatri Niwas base camp on Tuesday evening. After inspecting the Yatri Niwas base camp, Sinha stated that the security arrangements for the Yatra are more robust than ever before. 'I have witnessed the last four Yatras. The arrangements are better than ever, as far as the security and convenience of pilgr ...Read More >
BENGALURU/SINGAPORE, July 2 (Reuters) - India's renewable power output rose at its fastest pace since 2022 in the first half of 2025, a Reuters analysis of government data showed. Renewable power output jumped 24.4% to 134.43 billion kilowatt hours (kWh) for January-June 2025, according to a Reuters analysis of daily load despatch data from the federal grid regulator. The share of renewables, excluding hydropower, hit a record high of more than 17% in June. Coal-fired generation, still India' ...Read More >
July 1 (Reuters) - India's antitrust body on Tuesday ordered an investigation into Asian Paints (ASPN.NS), opens new tab after Aditya Birla Group's paints venture alleged that the country's top paint maker abused its dominant market position, according to an order. The Competition Commission of India's (CCI) initial review showed Asian Paints had breached competition laws, the order showed. Birla has alleged that Asian Paints was abusing its dominant market position by offering discounts and i ...Read More >
NEW DELHI, July 1 (Reuters) - A lawyer for Elon Musk's X told an Indian court on Tuesday that every "Tom, Dick, and Harry" government official had been authorised to issue content takedown orders, drawing a sharp rebuke from New Delhi's counsel in the latest clash over content moderation. X has long been at loggerheads with Prime Minister Narendra Modi's government over content removal requests. The remarks were made during a hearing on the U.S. firm's challenge to a government-run website it ...Read More >
July 1 (Reuters) - Indian firms could raise some $2.4 billion through IPOs in July, investment bankers said, raising hopes of a sustained revival in primary offerings after demand was dented by the U.S. trade war and global geopolitical tensions earlier this year. That amount would mark the strongest month since December and would follow a robust $2 billion raised in June, though most of that was raised by one company, HDB Financial Services. Education loan provider Credila Financial Services, ...Read More >
MUMBAI, July 1 (Reuters) - Indian billionaire Gautam Adani's flagship firm plans to raise up to 10 billion rupees ($116.77 million) through a retail bond issue opening for public subscription next week, two sources aware of the development told Reuters on Tuesday. Adani Enterprises (ADEL.NS), opens new tab will sell two-year, three-year and five-year bonds through the issue, which will remain open for subscription from July 9 to July 22, the sources added. The company will pay an annual coupon ...Read More >
June 30 (Reuters) - India's final rules easing provisions for loans to under-construction infrastructure projects are likely to revive credit growth in the sector, Moody's Ratings said on Monday. The Reserve Bank of India earlier this month cut the provisioning requirement to 1% from a proposed 5%, a move expected to boost banks' willingness to fund infrastructure developments, Moody's said. "We expect the guidelines' finalization will reduce uncertainty in project financing and support medium ...Read More >
MUMBAI, June 30 (Reuters) - India's IndusInd Bank (INBK.NS), opens new tab has shortlisted three senior bankers - Rajiv Anand, Rahul Shukla, and Anup Saha - for the position of CEO and submitted their names to the central bank for approval, two sources told Reuters. IndusInd Bank took a $230 million hit in the year ended March 31 due to years of misaccounting of internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April. The Reserve Bank of ...Read More >
NEW DELHI, June 27 (Reuters) - India's Prime Minister Narendra Modi will travel to Brazil from July 5-8 to attend the BRICS Summit, New Delhi said in a statement on Friday. BRICS, founded as a grouping of Brazil, Russia, India, China and South Africa to counter Western dominance of the world order, has grown in recent years to include emerging economies such as the United Arab Emirates, Egypt and Indonesia. Reporting by Tanvi Mehta; Editing by Toby Chopra Our Standards: The Thomson Reuters Tr ...Read More >
Gadwal: A sensational murder case that shook both Telugu states has been cracked within a short period by the Jogulamba Gadwal district police. The investigation revealed that a wife and her paramour conspired to murder her husband, who was allegedly obstructing their illicit relationship. They hired a supari gang (contract killers) to carry out the murder. District Superintendent of Police (SP) T. Srinivasa Rao, IPS, conducted a press meet today revealing crucial details of the case. Case Bac ...Read More >
June 25 (Rtrs) - India would not allow a UN investigator to join a probe of a crashed Air India jet that some safety experts had criticized for delays in analysis of crucial black box data, two senior sources familiar with the matter told Reuters. Earlier this week, the United Nations aviation agency took the unusual step of offering India one of its investigators to provide assistance following the Boeing (BA.N), opens new tab 787-8 Dreamliner crash killing 260 people in Ahmedabad on June 12. ...Read More >
June 26 (Reuters) - Credila Financial Services on Thursday filed for an initial public offering worth 50 billion rupees ($583.76 million), draft prospectus showed. ($1 = 85.6520 Indian rupees) Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:Emerging Markets ...Read More >
Mumbai, Jun 7 (PTI) A delegation of Indian Olympic Association, Central and Gujarat state government met Commonwealth Sport officials in London to have a better understanding of the process and the framework relating to securing hosting rights of the 2030 Commonwealth Games in Ahmedabad. The delegation included IOA chief PT Usha and officials from the Union Sports Ministry as well as the Gujarat state government. They met the Commonwealth Sport officials over two days in London. While the prop ...Read More >
NEW DELHI, June 7 (Reuters) - Britain and India on Saturday discussed expanding their "counter-terrorism" collaboration following recent fighting between India and Pakistan, Britain's foreign minister told Reuters after meeting Indian Prime Minister Narendra Modi. British foreign minister David Lammy is the highest-profile Western official to have visited both New Delhi and Islamabad since the South Asian neighbours agreed to a ceasefire last month after their worst fighting in nearly three dec ...Read More >
NEW DELHI, June 6 (Reuters) - Trade talks between Indian and U.S. officials have been extended into next week as both sides seek consensus on tariff cuts in the farming and auto sectors, aiming to finalise an interim deal before a July 9 deadline, Indian government sources said. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) held two days of discussions in New Delhi with Indian trade officials headed by chief negotiator Rajesh Agrawal, ...Read More >
June 6 (Reuters) - Bajaj Holdings and Investment (BJAT.NS), opens new tab said on Friday that it sold a 0.65% stake in financial services firm Bajaj Finserv (BJFS.NS), opens new tab for 20.02 billion rupees ($233.8 million) via a block deal. On Thursday, news channel ET Now had reported, citing sources, that Bajaj Finserv's founding firm Jamnalal Sons and Bajaj Holdings and Investment would sell a combined 1.58% stake in the financial services firm via block deals, with an option to sell an add ...Read More >
MUMBAI, June 6 (Reuters) - India's central bank will release final regulations for gold lending by Monday, with more relaxed norms for small-ticket lending, governor Sanjay Malhotra said on Friday. In April, the Reserve Bank of India had proposed stricter rules for monitoring and disbursement of gold loans, which are often used by low-income borrowers. The RBI had sought comments on the proposed rules by the middle of May. Last week, the federal finance ministry sought relaxations to the propo ...Read More >
MUMBAI, June 6 (Reuters) - India's foreign exchange reserves (INFXR=ECI), opens new tab stood at $691.5 billion as of May 30, the governor of the country's central bank said on Friday, down $1.2 billion from the previous week and coming off near-eight month highs. The country's FX reserves are now about $13.4 billion below their all-time high hit in September 2024. "These (reserves) are sufficient to fund more than 11 months of goods imports and about 96% of external debt outstanding," Reserve ...Read More >
June 6 (Reuters) - The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points (bps) on Friday, a third consecutive reduction, as muted inflation provided space for policymakers to focus on supporting economic growth. The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, cut the repo rate (INREPO=ECI), opens new tab to 5.50%. It has now cut rates by 100 basis points in 2025, starting with a quarter-point reduc ...Read More >
MUMBAI, June 6 (Reuters) - India's central bank on Friday, in a surprise move, cut the cash reserve ratio (CRR), which banks are required to hold, by 100 basis points to 3% with an aim to accelerate policy transmission and boost lending. CRR is the proportion of deposits that banks need to set aside as cash. The cut would be done in four equal tranches staring from September to November and would release 2.5 trillion rupees ($29.13 billion) in the banking system, Reserve Bank of India Governor ...Read More >
MUMBAI, June 6 (Reuters) - The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points on Friday, a third consecutive reduction, as muted inflation provided space for policymakers to focus on supporting economic growth. The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, cut the repo rate (INREPO=ECI), opens new tab to 5.50%. It has now cut rates by 100 basis points in 2025, starting with a quarter-point redu ...Read More >
June 5 (Reuters) - The founding firms of India's Bajaj Finserv (BJFS.NS), opens new tab will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources. The firms, which include Jamnalal Sons and Bajaj Holdings and Investment (BJAT.NS), opens new tab, will sell the 25.3 million shares they own in the secondary market at a floor price of 1,880 rupees per share, the report said ...Read More >
BENGALURU, India, June 5 (Reuters) - Indian Premier League franchise Royal Challengers Bengaluru have pledged one million Indian rupees ($11,654) to each family of the 11 fans who died in a crowd surge outside the team's home stadium on Wednesday during celebrations following their maiden IPL title. The franchise will also launch a support fund for the injured. At least 11 people died and 47 were injured in the crowd surge as thousands of people lined the streets around the Chinnaswamy Stadium ...Read More >
NEW DELHI, June 5 (Reuters) - India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering fiscal incentives for domestic production, people familiar with the matter said. Building such a supply chain could take years, but would reduce India's dependence on shipments from China, which sent shockwaves across global industries, particularly autos, with its April 4 move to curb exports of rare earth materials. China controls 90% of the processing of su ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawa ...Read More >
NEW DELHI, June 2 (Reuters) - India's key iron ore producer NMDC (NMDC.NS), opens new tab is testing a new pricing formula for its output to shield its profits from the volatilities reflected in global benchmarks, a source with direct knowledge of the matter told Reuters. State-run NMDC, which sells its output locally, currently releases monthly iron ore prices linked to inventories, international prices and domestic market dynamics. The company plans to launch the new formula after initial tr ...Read More >
NEW DELHI, May 23 (Reuters) - India will push the Financial Action Task Force (FATF), a global financial crime watchdog, to add arch-rival Pakistan to its "grey list", a top government source in New Delhi said on Friday. Pakistan was taken off the FATF grey list in 2022, boosting its reputation among lenders - which is essential for the crisis-hit economy. India will also oppose upcoming World Bank funding for Pakistan, amid renewed tensions between the two nuclear-armed neighbours, the govern ...Read More >
Jan 31 (Reuters) - India's LIC Housing Finance (LICH.NS), opens new tab reported a bigger-than-expected third-quarter profit on Friday, helped by healthy asset quality. The company said its profit after tax for the quarter ended Dec. 31 rose 23% to 14.32 billion rupees ($165.4 million). Analysts had expected a profit of 12.85 billion rupees, according to data compiled by LSEG. LIC Housing has seen an improvement in asset quality over the last few quarters, leading to lower funds being set asid ...Read More >
NEW DELHI, Dec 12 (Reuters) - India's retail inflation eased in November as soaring vegetable prices moderated, boosting expectations of an interest rate cut by the central bank at its next policy review amid concerns around slowing growth. Retail inflation (INCPIY=ECI), opens new tab eased in November to 5.48%, lower than 6.21% in the previous month and below a 5.53% forecast by economists in a Reuters poll. Food inflation slowed down to 9.04% from 10.87% a month earlier. Food accounts for ne ...Read More >
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