Reuters India - Squid Business

India’s Adani mulls bidding for Anil Ambani’s bankrupt coal plants- Bloomberg

(Reuters) -Indian billionaire Gautam Adani is considering a bid for the bankrupt coal-fired power plants belonging to industrialist Anil Ambani, Bloomberg News reported on Tuesday, citing people familiar with the matter. The plants are currently being auctioned by an Indian bankruptcy court. Adani may face tough competition for Ambani-owned Vidarbha Industries Power Ltd, which operates …

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Gold gains on softer dollar, yields; US inflation data in focus

By Brijesh Patel and Ashitha Shivaprasad (Reuters) – Gold prices edged higher on Tuesday, helped by a pullback in the dollar and bond yields as investors looked forward to U.S. inflation data the could offer more cues on the Federal Reserve’s rate hike path. Spot gold was up 0.3% at $1,930.49 per ounce as of …

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Foxconn targets India’s chip scheme after pulling plug on $19.5 billion JV

By Yimou Lee, Ben Blanchard and Dhwani Pandya TAIPEI/MUMBAI (Reuters) – Foxconn said it intends to apply for incentives under India’s semiconductor production plan, a day after the Taiwanese firm split with Vedanta on a $19.5 billion chipmaking joint venture. Foxconn withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback …

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India’s government orders inspection of Byju’s account books – Bloomberg News

(Reuters) -India’s Ministry of Corporate Affairs has ordered an inspection into the embattled edtech startup Byju’s account books and has sought a report in six weeks, Bloomberg News reported on Tuesday. Based on the findings, the ministry will decide if the matter needs to be escalated to the Serious Fraud Investigation Office (SFIO), which is …

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Rupee gains for second day tracking Asian peers; premiums inch up

By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee rose for a second straight session against the U.S. dollar on Tuesday, mirroring similar moves in Asian peers, as risk appetite in the region rose on fresh bets of the Federal Reserve nearing the end of its rate tightening cycle. The rupee ended at 82.3650 against …

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Auto, consumer stocks lift Indian shares ahead of quarterly results

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares extended gains on Tuesday, led by a rise in auto and consumer stocks, tracking their Asian and European peers higher on hopes of a China stimulus package. The Nifty 50 index settled 0.43% higher at 19,439.40, while the S&P BSE Sensex rose 0.42% to 65,617.84. Eight of the …

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Gold steady as traders await US inflation data; palladium slides

By Ashitha Shivaprasad (Reuters) – Gold was little changed on Monday as investors awaited U.S. inflation data that could influence the Federal Reserve’s policy stance, while palladium prices dropped below the $1,200-per-ounce level for the first time since December 2018. Spot gold was steady at $1,923.59 per ounce by 10:10 a.m. EDT (1410 GMT). U.S. …

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India’s ethanol program will cap future sugar exports – BMI report

By Marcelo Teixeira (Reuters) – India, the world’s second-largest sugar producer and a major exporter in recent years, will likely have a smaller role in the sugar export market going forward as its government-led ethanol program continues to expand, a report said on Monday. According to the report Asia Biofuel Outlook, produced by research firm …

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Indian court turns down PepsiCo’s appeal against revocation of potato patent

By Mayank Bhardwaj and Sumit Khanna NEW DELHI (Reuters) – An Indian court rejected PepsiCo Inc’s appeal against an order that revoked a patent for a potato variety grown exclusively for the New York-based company’s popular Lay’s potato chips. The Protection of Plant Varieties and Farmers’ Rights (PPVFR) Authority in 2021 revoked intellectual protection granted …

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Godrej Aerospace targets Airbus, Boeing suppliers as India jet orders soar

By Dhwani Pandya MUMBAI (Reuters) -Godrej Aerospace is in talks to build aircraft parts for suppliers to Airbus and Boeing as airlines place record jet orders, a top executive at the Indian company said. Air India and IndiGo between them have nearly 1,000 new planes on order, said Maneck Behramkamdin, associate vice president and business …

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