Reuters India

RBI intervention to keep Indian rupee in a tight range, analysts say – Reuters poll

By Milounee Purohit and Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade in a narrow range over the coming three months and then strengthen slightly in a year as the Reserve Bank of India uses its vast foreign exchange reserves to keep the currency stable, a Reuters poll found. Expected volatility in the …

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Musk’s X challenges India ruling on content blocking, cites censorship risk

By Aditya Kalra, Arpan Chaturvedi and Munsif Vengattil NEW DELHI (Reuters) -Social media platform X is seeking to quash an Indian court ruling that it was not compliant with federal government orders to remove content, arguing it could embolden New Delhi to block more content and broaden the scope for censorship. X, formerly known as …

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India finds string of deficiencies among drugmakers after risk tests

NEW DELHI (Reuters) -India has found multiple deficiencies among drugmakers following wide-ranging inspections across the industry, including a lack of raw materials testing, the health ministry said on Wednesday. Indian authorities have stepped up scrutiny of drugmakers in recent months after some cough syrups made in the country were linked to the deaths of at …

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India’s ED recovers assets worth $3 million from Hero MotorCorp’s Munjal

BENGALURU (Reuters) -India’s Enforcement Directorate (ED) has recovered assets worth $3 million from Hero MotoCorp’s chairperson, Pawan Kant Munjal, and others, following a money-laundering investigation, the agency said on Wednesday. The agency’s probe follows complaints that 540 million rupees ($6.53 million) worth of foreign currency and other valuable items were illegally moved to offshore locations …

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Manforce condoms maker Mankind Pharma posts 66% jump Q1 profit

HYDERABAD (Reuters) – India’s Mankind Pharma Ltd posted a 66% jump in June-quarter profit on Wednesday, its second quarterly results since listing in May this year, helped by strong domestic sales and continued growth in the company’s chronic drugs segment. The country’s fourth-largest pharmaceutical company by domestic sales said its profit rose to 4.94 billion …

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Six executives quit India’s Nykaa, CEO Nayar to spearhead marketing

By Aditya Kalra NEW DELHI (Reuters) – Six executives, including the marketing head, of India’s cosmetics-to-fashion retailer Nykaa have resigned since April, the company said on Wednesday, key departures that come as competition intensifies in the fast-growing sector. The exits include that of Chief Marketing Officer Shalini Raghavan, with Nykaa’s founder and CEO Falguni Nayar …

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