Reuters India

Carraro India sets price band of 668-704 rupees per share in downsized IPO

(Reuters) – Carraro India [CARD.NS] has set a price band of 668 rupees to 704 rupees per share ($7.87-$8.29) for its downsized $147 million initial public offering, a newspaper advertisement showed on Tuesday. Carraro India, a unit of Italian vehicle transmission systems manufacturer Carraro International, makes axles and transmission systems for agricultural tractors and construction …

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Indian capital tightens anti-pollution measures as air quality worsens

(Reuters) – India directed schools to move to hybrid mode for some grades, asked government offices to stagger timings for staff and imposed restrictions on vehicles in Delhi and adjoining regions as air quality deteriorated in the country’s north on Monday. Delhi recorded “very poor” air on Monday with an air quality index (AQI) reading …

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UK approves Indian group Bharti’s purchase of 24.5% stake in BT

LONDON (Reuters) -The British government on Monday approved Indian group Bharti Global’s purchase of a 24.5% stake in London-listed BT, following a detailed national security assessment and assurances from the telecoms company. The purchase of the shares, worth 3.2 billion pounds, was made from the previous top investor, Patrick Drahi’s Altice, under the terms set …

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India’s solar energy agency changes bidding policy after Adani bribery allegations, says source

By Sarita Chaganti Singh and Krishna N. Das NEW DELHI (Reuters) – An Indian government agency charged with promoting renewable energy has changed the way it issues power tenders to reduce the risk of corruption after U.S. allegations of bribery in some tenders, said an official with direct knowledge of the matter. The Solar Energy …

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Eleven Indians dead in accident at Georgian ski resort, embassy says

TBILISI (Reuters) – Eleven Indian citizens were among twelve victims of an accident at an Indian restaurant in the Georgian ski resort of Gudauri, the Indian Embassy said on Monday. According to a preliminary report from the Georgian Interior Ministry, the victims, which included one Georgian citizen, were found dead inside the restaurant after using …

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India tax panel may consider lowering GST on online food delivery fees, report says

NEW DELHI (Reuters) – India’s GST Council, chaired by the federal finance minister, may lower the tax on food delivery charges by e-commerce operators to 5% from 18%, CNBC-TV18 reported, citing sources. The potential tax cut, which could take effect from Jan. 1, 2022, would not allow food delivery platforms such as Zomato and Swiggy …

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Surge in gold imports pushes India’s Nov trade deficit to record levels

By Manoj Kumar and Shivangi Acharya NEW DELHI (Reuters) -India’s merchandise trade deficit in November widened to a record level, led by a surge in gold imports, while exports fell due to weaker global demand. The merchandise trade deficit in November stood at $37.84 billion, data released by the commerce ministry showed on Monday, much …

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India’s Tata faces pressure in Starbucks joint venture as consumers cut back

By Praveen Paramasivam (Reuters) -India’s Tata Consumer Products will push back plans for some new Starbucks store openings until later in its existing schedule as fewer customers are walking into its cafes in the world’s most populous country, its top boss said on Monday. “We will calibrate for the short term — maybe instead of …

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