Reuters India

MUMBAI (Reuters) – An Indian tribunal on Friday set aside a fine of 250 million rupees ($3.04 million) by the markets watchdog on Reliance Industries for alleged violation of the country’s takeover rules. In 2021, the Securities and Exchange Board of India (SEBI) levied the fine on the top shareholders of Reliance, including chairman Mukesh …

India tribunal sets aside markets watchdog’s $3 million fine on Reliance Industries Read More »

BENGALURU (Reuters) – Indian consumer goods maker Marico reported a bigger-than-expected rise in quarterly profit, as a drop in input costs helped overshadow a fall in revenue due to sluggish rural demand. Marico, home to brands including Parachute and Saffola oils, said consolidated net profit rose 15.1% to 4.27 billion rupees ($52 million) in the …

India’s Marico posts Q1 profit beat as lower costs offset sluggish demand Read More »

By Praveen Paramasivam CHENNAI (Reuters) -Chemical maker Coromandel International is betting its drone startup Dhaksha will help Indian farmers cope with an ongoing labour shortage in the agriculture sector, a top executive told Reuters on Friday. In June Coromandel bought a majority stake in Dhaksha at a valuation of 6.25 billion rupees ($75.96 million), saying …

India’s Coromandel counts on drone startup to tackle farm labour shortage Read More »

By Munsif Vengattil and Sumit Khanna GANDHINAGAR, India (Reuters) – India wants to emerge as a trusted partner for the semiconductor industry and is keen to be a chip supplier for the world, Prime Minister Narendra Modi said on Friday, as he steps up efforts to attract global investors to establish production in the country. …

Modi tells investors India wants to be “trusted partner” for chipmaking Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is poised to decline on Friday after a better-than-expected reading on U.S. gross domestic product and a slump in the euro prompted the biggest rally on the dollar index in more than four months. Non-deliverable forwards indicate rupee will open at around 82.25 to the U.S. …

Rupee to weaken after dollar jumps on upbeat US data, dovish ECB Read More »

By Kannaki Deka (Reuters) – Harley-Davidson said on Thursday that pre-orders were “exceeding expectations” for a new model the U.S. big-bike maker launched this month in India in partnership with a local manufacturer. Harley and British rival Triumph have unveiled their cheapest models globally in India, the largest motorbike market by sales, to tap into …

Harley-Davidson CEO says India model pre-orders ‘exceeding expectations’ Read More »

BENGALURU (Reuters) – India’s Adani Enterprises said on Thursday its new renewable energy-focused unit raised a working capital loan of $394 million from Barclays and Deutsche Bank AG for its integrated solar module manufacturing facility. Adani New Industries Limited (ANIL) is building an integrated green hydrogen businesses, including solar modules and wind turbine manufacturing. The …

Adani’s unit secures $394 million financing facility for solar module plant Read More »