NEW DELHI (Reuters) – At least 16 workers were killed and several others were feared trapped after a crane collapsed during the construction of a bridge in the western Indian state of Maharashtra, officials said. Television footage showed mangled remains of the crane sprawled on the ground between pillars of the bridge near Shahapur area, …
Crane collapse kills 16 workers in India’s Maharashtra state Read More »
BENGALURU (Reuters) – International cinema helped India’s biggest movie operator PVR Inox post a rise in first-quarter revenue as Hindi films failed to bring moviegoers to theatres. A struggling Hindi film industry, known as Bollywood, coupled with the popularity of streaming services, has made it difficult for traditional theatres to bring in more people. The …
Hollywood saves India’s PVR Inox as Bollywood bombs at box office Read More »
BENGALURU, August 1 (Reuters) – Indian tractor maker Escorts Kubota reported an almost 93% jump in first-quarter profit on Tuesday, led by the increased demand for its construction and railway equipment. Net profit for the quarter through June 30 was 2.83 billion rupees ($34.4 million), compared with 1.47 billion rupees a year earlier. It reported …
India’s Escorts Kubota posts 93% jump in Q1 profit on railway, construction demand boost Read More »
BENGALURU (Reuters) – Reliance Industries, India’s largest company by market capitalisation, said on Tuesday that it had signed an agreement with Brookfield Asset Management to explore the manufacturing of renewable energy and decarbonisation equipment in Australia. (Reporting by Varun Vyas in Bengaluru; Editing by Rashmi Aich)
BENGALURU (Reuters) – Indian shares are set to open little changed on Tuesday after a positive start to the week as investors awaited a slew of quarterly results across sectors. India’s GIFT Nifty on the NSE International Exchange was up 0.02% at 19,890 as of 8:05 a.m. IST. Asian markets edged higher on Tuesday tracking …
Indian shares set to open little changed; earnings awaited Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to decline on Tuesday, pressured by the dollar’s move higher versus its major peers and Asian currencies. Non-deliverable forwards indicate rupee will open slightly weaker to U.S. dollar from 82.2450 in the previous session. “Possibly a bit of a move higher (on USD/INR) at …
Rupee may struggle on dollar move, support seen near Read More »
By Milounee Purohit and Anant Chandak BENGALURU (Reuters) – The Reserve Bank of India (RBI) will hold its key interest rate at 6.50% through end-March 2024, according to a Reuters poll of economists, who pushed back their expectations for the first rate cut to the second quarter of 2024 from the first quarter in a …
RBI to hold rates at 6.50% through Q1 2024, cut in April-June: Reuters poll Read More »
BEIJING/TAIPEI (Reuters) -A subsidiary of tech giant Foxconn said that it had not signed any agreement to invest 16 billion rupees ($194.6 million) in Tamil Nadu, China’s Securities Times reported on Tuesday. The government of the southern Indian state of Tamil Nadu said on Monday it has signed a deal with Foxconn for a new …
Foxconn Industrial Internet denies signing deal with Tamil Nadu -report Read More »
(Reuters) -Apple’s main supplier, Foxconn Technology Group, is planning to invest close to $500 million to build two component factories in India, Bloomberg News reported on Monday, citing people familiar with the matter. These factories will be built in the southern state of Karnataka and at least one of them will produce Apple parts, including …
Apple supplier Foxconn plans $500 million component factories in India – Bloomberg News Read More »
(Reuters) -The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1. A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday. The windfall tax on petrol …
