Reuters India

India’s two-wheeler sales likely to improve as early as Sept – analysts

By VarunVyas Hebbalalu BENGALURU (Reuters) – Indian two-wheeler makers could begin posting better wholesale numbers as early as September as exports pick up and domestic demand improves in the upcoming festival season, analysts said this week. The outlook comes after two-wheeler makers such as Bajaj Auto and Hero MotoCorp reported dismal sales volumes for July. …

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India passes law allowing auction and mining of lithium reserves

MUMBAI (Reuters) – India’s parliament on Wednesday passed a law allowing the government to auction and mine its newly-discovered reserves of lithium, among other minerals, increasing the mining of the critical raw material for electric vehicle batteries. Under the law, lithium, along with other minerals was removed from a previous list of atomic minerals, which …

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Tyre maker Goodyear India’s Q1 profit rises as low rubber prices offsets weak demand

BENGALURU (Reuters) – Tyre manufacturer Goodyear India reported a higher quarterly profit as a drop in raw material prices helped make up for its first revenue fall in 12 quarters on low demand. The Indian unit of U.S.-based Goodyear Tire and Rubber Co said standalone profit rose 4% to 392.6 million rupees ($4.8 million) in …

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Surging gold prices take sheen off Indian jewellery maker Titan’s profit

By VarunVyas Hebbalalu BENGALURU (Reuters) -India’s Tata Group-owned Titan Co reported a lower-than-expected quarterly profit on Wednesday as its mainstay jewellery segment was hurt due to surging gold prices, which pushed up costs and eroded margins. Titan, which owns the Tanishq jewellery brand, said its first-quarter profit fell more than 2% to 7.77 billion rupees …

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Adani-owned Ambuja Cements to acquire majority stake in India’s Sanghi -sources

By Aditya Kalra NEW DELHI (Reuters) – India’s Ambuja Cements has reached a deal to acquire a majority stake in operations of Sanghi Industries, two sources with direct knowledge said, a transaction that will add heft to cement operations of billionaire Gautam Adani’s firm. The deal by Ambuja is likely to be announced as soon …

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Battery maker IBC to set up plant in India’s Karnataka for nearly $1 billion

(Reuters) – International Battery Company (IBC) has signed an investment pact worth 80 billion rupees ($971.89 million) with India’s southern state of Karnataka to build a battery manufacturing facility, the state’s minister said on Tuesday. The manufacturing facility will be spread across 100 acres in the state, Minister for Commerce & Industries, Infrastructure MB Patil …

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