By Una Galani and Antoni Slodkowski DAVOS, Switzerland, Jan 15 (Reuters) – Another five years of a majority government in India could usher in a flood of foreign direct investment (FDI), Bajaj Finserv Chair and Managing Director Sanjiv Bajaj told Reuters at the World Economic Forum annual meeting on Monday. “Ten years of this growth …
India on cusp of FDI flood, Bajaj Finserv Chair says in Davos Read More »
BENGALURU (Reuters) – India’s state-owned firm Khanij Bidesh India Ltd (KABIL) signed a 2 billion-rupee ($24 million) lithium exploration pact for five blocks in Argentina, the federal Ministry of Mines said on Monday. “The project will help India strengthen lithium supplies, while developing lithium mining and downstream sectors of both the countries,” mines minister Pralhad …
India’s state-owned KABIL signs $24 million lithium exploration deal in Argentina Read More »
BENGALURU (Reuters) – Indian stock brokerage firm Angel One on Monday reported a 14% rise in third-quarter profit, aided by a jump in orders and client additions. Consolidated profit was 2.60 billion rupees ($31.38 million) for the quarter ended Dec. 31, compared with 2.28 billion rupees a year earlier, according to an exchange filing. Total …
Indian stock broker Angel One posts 14% rise in Q3 profit as orders jump Read More »
(Reuters) – India’s markets regulator, on Monday, proposed a relaxed framework for alternative investment funds (AIFs) and venture capital funds (VCFs) to deal with their unliquidated investments after the fund tenure expires. The Securities and Exchange Board of India (SEBI) suggested that instead of launching a new scheme to liquidate their investments, the tenure of …
India’s market regulator proposes relaxed rules for illiquid AIF investments Read More »
BENGALURU (Reuters) – India’s Aster DM Healthcare plans to distribute to shareholders about 70%-80% of the $903 million it will get by selling its Gulf business, the hospital chain said Monday, days after a proxy advisory firm asked investors to veto the deal. Aster agreed, in November, to sell a majority stake in the Gulf …
By Divya Chowdhury, Savio Shetty and VarunVyas Hebbalalu DAVOS, Switzerland (Reuters) – Hitachi India expects to contribute $20 billion in revenue to its Japanese parent by 2030, its managing director said in an interview on the sidelines of the World Economic Forum annual meeting. “India is being looked at as a global hub, especially in …
Hitachi’s Indian business expects to have $20 billion revenue by 2030 Read More »
MUMBAI (Reuters) – Indian financial technology (fintech) firms should create a self-regulatory organisation (SRO) that will ensure statutory and regulatory compliance, the Reserve Bank of India (RBI) said in a draft framework released on Monday. The body would work towards strengthening governance standards and addressing the sector’s needs and challenges, the central bank said. The …
India cenbank issues draft framework for fintech self-regulatory body Read More »
BENGALURU (Reuters) – An infrastructure investment trust (InvIT) backed by India’s Mahindra Group and Canada’s Ontario Teachers’ Pension Plan Board made its trading debut on Monday, with an offer size of 22.63 billion rupees ($273 million), the two entities said. Sustainable Energy Infra Trust (SEIT) — formed to own and operate renewable power generation assets …
India’s Mahindra Group-backed infra investment trust goes public Read More »
By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) – India’s blue-chip indexes hit record highs for a second consecutive session on Monday, led by information technology stocks after better-than-expected results from HCLTech and Wipro. The NSE Nifty 50 index added 0.93% to 22,097.45 points, while the S&P BSE Sensex climbed 1.05% to 73,327.94. The Nifty …
IT powers Indian shares to record highs for second straight session Read More »
By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee ended higher on Monday for a ninth straight session, fuelled by speculative bets its recent winning streak will continue. The rupee settled at 82.8800 to the U.S. dollar compared with its previous close of 82.9225. The rupee rose to 82.7800 intraday, the highest in more than …
Rupee gains for ninth session on speculative dollar selling Read More »
