Reuters India

Wipro, ex CFO Dalal referred to arbitration over alleged non-compete clause breach

(Reuters) – Indian IT major Wipro will go into arbitration with its former CFO Jatin Dalal after he joined rival Cognizant, according to a civil court order on Wednesday in the southern Indian city of Bengaluru. Wipro in November alleged Dalal’s appointment as Cognizant’s CFO violated a non-compete clause, which lists 10 of Wipro’s competitors …

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India to use SpaceX rocket to launch communications satellite

NEW DELHI (Reuters) – India will launch a communications satellite using SpaceX’s Falcon-9 rocket this year, its first partnership with a venture led by billionaire Elon Musk who also wants to expand his other businesses in the country. The high-capacity satellite aims to boost India’s broadband communication, especially in remote and unconnected regions of the …

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Indian office space transactions at 4-year high as corporate sentiment rises -report

By Manoj Kumar NEW DELHI (Reuters) – Office space leasing transactions in India’s top eight cities including Bengaluru and Mumbai, driven by high demand from global and local companies, rose 15% year-on-year in 2023, the highest since 2019, an industry report said on Wednesday. Office space transactions, an indicator of corporate sentiment, touched 59.6 million …

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India’s Adani Ports to raise up to $601 million by selling debentures

BENGALURU (Reuters) -Adani Ports and Special Economic Zone, India’s largest private port operator, will raise up to 50 billion rupees ($600.6 million) by selling non-convertible debentures, it said on Wednesday. Billionaire Gautam Adani was re-designated as executive director from managing director and his son Karan Adani was re-designated as managing director from CEO, the company …

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India’s Adani wins court relief on scrutiny after Hindenburg attack

By Arpan Chaturvedi and Jayshree P Upadhyay NEW DELHI (Reuters) -India’s Supreme Court on Wednesday said the Adani Group does not need to face more investigations beyond the current scrutiny of the market regulator, a major relief for the conglomerate hit hard by a U.S. short-seller’s allegations of wrongdoing. The Securities and Exchange Board of …

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IT, metals drag Indian shares lower ahead of Fed policy minutes

By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes declined on Wednesday, dragged down by information technology and metal stocks, as global markets slid amid fading optimism about early U.S. interest rate cuts ahead of the release of the Federal Reserve minutes. The NSE Nifty 50 index fell 0.69% to 21,517.35, while the S&P BSE Sensex …

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