Reuters India

Indian shares rise as cooling US inflation powers IT stocks

By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares edged higher on Thursday, aided by information technology (IT) stocks amid cooling inflation in the United States, but hotter-than-expected domestic inflation kept investors cautious as the blue chips trimmed intraday gains. The Nifty 50 index closed 0.15% higher at 19,413.75, while the S&P BSE Sensex rose 0.25% …

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Floods force Indian capital to shut schools, offices, and plan water rationing

NEW DELHI (Reuters) -Flooding in parts of New Delhi forced the city government to close all education institutions in India’s capital on Thursday and advise people to work from home, while warning that there would be water rationing after the Yamuna river broke its banks. Since the rainy monsoon season began on June 1, Delhi …

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Tesla looking to make about half million EVs annually in India- report

BENGALURU (Reuters) -Tesla is discussing an investment proposal with the Indian government to set up a factory with an annual capacity to produce about half a million electric vehicles, the Times of India reported on Thursday, citing government sources. The company, led by billionaire Elon Musk, is also looking at using India as an export …

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India says no need for rethink after online gaming tax backlash

By Tanvi Mehta and Riddhima Talwani NEW DELHI (Reuters) -India’s decision to impose a 28% tax on funds that online gaming companies collect from their customers will not need further consultation and an early review is unlikely, the country’s revenue secretary said on Wednesday. The government’s decision, announced late on Tuesday, was met with dismay …

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India’s SpiceJet says top shareholder to inject $61 million in airline

BENGALURU (Reuters) -Budget carrier SpiceJet said on Wednesday top shareholder Ajay Singh would infuse 5 billion rupees ($60.85 million) into the troubled airline as it looks to return to full operations. SpiceJet has been scrambling to raise funds and restore operations for about a fourth of its fleet that has been grounded amid a string …

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India’s Reliance Retail eligible to submit resolution plan for Future Enterprises bankruptcy

BENGALURU (Reuters) – The retail arm of Reliance Industries is among three companies eligible to submit a plan for the debt-ridden Future Enterprises’s bankruptcy proceedings, Future’s resolution professional disclosed in an exchange filing on Wednesday. Indian billionaire Mukesh Ambani’s Reliance Retail Ventures, galvanised steel sheet maker Jindal (India) and Donear Industries-owned textiles maker GBTL have …

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Gupta says Trafigura employees proposed substituting nickel -court document

By Polina Devitt, Eric Onstad and Pratima Desai LONDON (Reuters) -Lawyers for Indian businessman Prateek Gupta rejected commodity trader Trafigura’s allegations of fraud, saying Trafigura employees proposed that Gupta substitute other materials for nickel, according to a court document filed on Wednesday. Geneva-based Trafigura filed a lawsuit against Gupta in February, alleging seven companies that …

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