Reuters India - Squid Business

India mulls bilateral deals for green hydrogen-linked carbon credits – sources

By Sarita Chaganti Singh and Shivangi Acharya NEW DELHI (Reuters) – India is considering bilateral agreements with countries such as Japan to allow them to use carbon credits linked to green hydrogen production in India in exchange for investment and purchase deals, two government sources and one industry source told Reuters. New Delhi this year …

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Reliance Jio’s new low-cost phone unlikely to disrupt Indian telecom market – analysts

By Indranil Sarkar BENGALURU (Reuters) -Reliance Jio’s plan to launch a 4G phone at a market-low price of $12 to capture the broadly untapped entry-level 2G market in India will disrupt the bottom of the consumer pyramid, but not spark a price war reminiscent of its first such move in 2016, analysts said on Tuesday. …

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US condemns vandalism at Indian consulate in San Francisco

(Reuters) – The United States has condemned vandalism against the Indian consulate in the city of San Francisco, a State Department spokesman said, after a report of a protest at the mission by supporters of a separate state for the Sikh community. Sikh separatists tried to set fire to the consulate on the weekend, Reuters …

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India’s IDFC First Bank slips, IDFC hits record high on merger approval

By VarunVyas Hebbalalu and Siddhi Nayak BENGALURU/MUMBAI (Reuters) -Shares of private lender IDFC First Bank fell as much as 6% on Tuesday, while those of IDFC rose 6% to record highs after the companies approved a reverse merger aimed at simplifying their corporate structure and easing regulatory compliance. As part of the deal – coming …

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S&P says Indian companies in ‘good credit shape’

BENGALURU (Reuters) – S&P Global Ratings said on Tuesday that Indian companies were in “good credit shape” due to strong growth in the country’s economy and accommodative corporate balance sheets. “By our estimates, aggregate EBITDA in fiscal 2024 will be about 50% higher than five years back for rated corporate and infrastructure entities in India,” …

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Indian rupee may inch up; RBI remains in way of large appreciation

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to move up at open on Tuesday on back of an uptick on most Asian peers and equity inflows. Non-deliverable forwards indicate the rupee will open at around 81.90-81.92 to the U.S. dollar, compared with 81.9575 in the previous session. The rupee on Monday …

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India’s fantasy sports’ revenue rises 24% during IPL 2023 – Redseer report

By Manoj Kumar NEW DELHI (Reuters) – The revenue of fantasy gaming platforms during Indian Premier League (IPL) cricket matches rose 24% from a year earlier to over 28 billion rupees ($342 million) with over 61 million users participating, a report by the Redseer consultancy said. Fantasy gaming apps gained popularity in India during the …

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Gold edges higher on weaker U.S. economic cues

By Arpan Varghese (Reuters) – Gold prices edged up on Monday, as the U.S. dollar and Treasury yields retreated on weaker economic readings, casting doubts over whether the Federal Reserve may stick to its hawkish policy outlook. Spot gold was up 0.1% at $1,920.49 per ounce by 1:54 p.m. EDT (1754 GMT), while U.S. gold …

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India’s Biocon Biologics launches biosimilar for AbbVie’s Humira in US

(Reuters) – India’s Biocon Biologics said on Monday it has launched a biosimilar version of AbbVie’s blockbuster rheumatoid arthritis drug Humira in the United States. The launch of the copycat version, branded as Hulio, adds to a list of biosimilars introduced by drugmakers on Monday by Coherus Biosciences and Germany’s Fresenius. Boehringer Ingelheim and Swiss …

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India’s IDFC to merge with IDFC First Bank in latest consolidation

(Reuters) -IDFC First Bank said on Monday its board had given the green light for a merger with IDFC Ltd, just days after the landmark $40 billion merger between Housing Development Finance Corp and HDFC Bank came into effect. IDFC Ltd shareholders will receive 155 shares of IDFC First Bank for each set of 100 …

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