Reuters India

Reliance to invest $122 million in Brookfield JV for data center projects in India

BENGALURU (Reuters) -India’s Reliance Industries said on Monday it would invest up to 10 billion Indian rupees ($122.24 million) in building data centres in the country along with Canada-based Brookfield Infrastructure. The announcement comes at a time when data centre capacity in India is expected to rise exponentially as more people go online. Reliance will initially …

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‘Oppenheimer’ sparks online outrage in India due to Hindu scripture scene

MUMBAI (Reuters) – A scene featuring a holy Hindu scripture in nuclear arms biopic “Oppenheimer” has drawn social media fire in India, with many users saying they would boycott the movie because of what one nationalist group called a “scathing attack on Hinduism”. The scene features the protagonist reciting a verse from the Bhagwad Gita, …

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India’s Vedanta CFO says confident of meeting debt maturities in FY24

BENGALURU (Reuters) -India’s Vedanta is confident of meeting its debt maturities of $2.7 billion this fiscal year and committed to bringing down its debt, its CFO said on Monday. The company is committed to reducing debt as its “high-quality” assets continue to generate a healthy cash flow, Sonal Shrivastava said in a statement. The company’s …

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Tata Steel’s first-quarter profit slumps on spike in expenses, price drop

BENGALURU (Reuters) – India’s Tata Steel on Monday reported a staggering 92% slump in quarterly profit, hurt by the lower prices of alloy and expenses related to a pension scheme in Britain. Consolidated net profit came in at 6.34 billion rupees ($77.5 million) for the three months to June 30, while total revenue from operations …

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Tesla to discuss factory plan for new $24,000 car with India commerce minister -source

By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters. Tesla has expressed an interest …

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India markets regulator to consider permitting delisting via fixed price

By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator will consider permitting the delisting of companies via fixed price instead of the reverse book-building procedure, Chairperson Madhabi Puri Buch said on Monday. The Securities and Exchange Board of India (SEBI) will issue a discussion paper on the subject by December, the regulator said. In the …

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Indian ministry orders probe into Eros International’s accounts -sources

By Nikunj Ohri and Sarita Chaganti Singh NEW DELHI (Reuters) – India’s Ministry of Corporate Affairs has ordered an inspection of the accounts of Eros International Media, two government officials told Reuters, after the market regulator in June accused the media group of financial misreporting and fund diversion. The ministry ordered the probe after it …

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