Reuters India

Tata Steel signs contract with Tenova for electric arc furnace at Port Talbot plant

(Reuters) – India’s Tata Steel signed a contract with Italy-based Tenova on Friday for an electric arc furnace at its Port Talbot plant in Wales, weeks after Britain’s biggest steelworks ended blast furnace-based production. The closure of the last blast furnace at Port Talbot, once the largest steel works in Europe, was the culmination of …

Tata Steel signs contract with Tenova for electric arc furnace at Port Talbot plant Read More »

India’s JSW Steel to acquire thyssenkrupp Electrical Steel India via JV

(Reuters) – Indian steel producer JSW Steel said on Friday its joint venture firm entered into a deal to buy thyssenkrupp Electrical Steel India for $482.1 million. Jsquare Electrical Steel Nashik is a 50:50 joint venture between JSW Steel and Japanese steel producer JFE Steel Corp. Thyssenkrupp Electrical Steel – the Indian unit of German …

India’s JSW Steel to acquire thyssenkrupp Electrical Steel India via JV Read More »

‘Worth zero’: Founder of India’s once biggest startup Byju’s concedes mistakes

By Arpan Chaturvedi NEW DELHI (Reuters) – Byju Raveendran, the founder of what was once India’s biggest start-up, Byju’s, said he overestimated the growth potential of his education-technology company which is now “worth zero” as it faces insolvency, but remains hopeful of rescuing it. Byju’s, which operates in more than 21 countries, became popular during …

‘Worth zero’: Founder of India’s once biggest startup Byju’s concedes mistakes Read More »

India eyes $87 billion investment in petrochemicals sector over next decade, says minister

(Reuters) – India is expected to receive investments worth $87 billion in the next decade to meet the nation’s rising demand for petrochemicals, the country’s oil minister Hardeep Singh Puri said on Friday. “As more citizens enter the middle class, the demand for a diverse range of products, many of which are derived from petrochemicals, …

India eyes $87 billion investment in petrochemicals sector over next decade, says minister Read More »

Cricket-Born in New Zealand, roots in Bengaluru: Ravindra celebrates special ton

By Shrivathsa Sridhar BENGALURU (Reuters) – New Zealand’s Rachin Ravindra pumped his fists and flashed a big smile to acknowledge the loud applause that followed his century in the first test against India on Friday, as adoring Bengaluru fans celebrated like he was one of their own. The 24-year-old had every reason to soak up …

Cricket-Born in New Zealand, roots in Bengaluru: Ravindra celebrates special ton Read More »

Indian insurer ICICI Lombard’s Q2 profit jumps on strong motor, health segments

(Reuters) – India’s ICICI Lombard General Insurance reported a 20% increase in its second-quarter profit on Friday, aided by higher premiums in its motor and health insurance units. The company’s profit after tax rose to 6.94 billion rupees ($82.6 million) for the three months ended Sept. 30 from 5.77 billion rupees a year earlier. Analysts …

Indian insurer ICICI Lombard’s Q2 profit jumps on strong motor, health segments Read More »

India’s Disney-Reliance JV to stream live sports only on Hotstar, sources say

By Aditya Kalra NEW DELHI (Reuters) -All live sporting events streamed by the newly merged Disney-Reliance business in India, including popular Indian Premier League (IPL) cricket, will only be available on Disney’s Hotstar app, three sources familiar with the matter told Reuters. The decision marks the first major integration of the businesses and signals billionaire …

India’s Disney-Reliance JV to stream live sports only on Hotstar, sources say Read More »

Interest rate cut at this stage would be ‘premature,’ India cenbank chief says

MUMBAI (Reuters) – The head of India’s central bank said on Friday that it would be “very premature” and risky to lower interest rates at this stage. While inflation is expected to moderate going forward, the central bank would only think of rate cuts when it has confidence that inflation is durably aligned to its …

Interest rate cut at this stage would be ‘premature,’ India cenbank chief says Read More »