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☆ India 'confident' new EV policy measures will allow more foreign players to enter market
▼ + stars: | 2024-04-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +4 min

"It was meant for all global EV manufacturers and domestic manufacturers." While much of the "buzz has been around Tesla," Singh underscored the initiatives will also attract other foreign automakers, highlighting that Vietnam's leading EV maker "VinFast has already announced its intent." In February, VinFast broke ground on its integrated EV manufacturing facility in India's southern state of Tamil Nadu. As competition in India's EV sector remains limited, the entry of major players like Tesla, will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba told CNBC. Robust trajectoryAccording to Counterpoint Research, India's EV sales nearly doubled in 2023, driven by rising consumer interest and government initiatives, among other factors.

Persons: Rajesh Kumar Singh, CNBC's, Singh, VinFast, Elon Musk, Narendra Modi, Tesla, Rajeev Chaba, EVs, Modi, Ola, Bain Organizations: Department, Promotion, Industry, Internal, EV, CNBC's Sri, Motor, CNBC, Counterpoint Research, International Energy Agency, TVS Motor, Bajaj, Ampere, Bain & Company Locations: India, Tamil Nadu, China

☆ India is a breakout star during a tough year for emerging markets investing
▼ + stars: | 2023-12-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The India SENSEX Index, an index of 30 large companies listed on the Bombay Stock Exchange, is up 18% this year. The iShares MSCI India ETF (INDA) is at a new high. You run several international ETFs focused on the internet and ecommerce, including the India Internet & Ecommerce ETF (INQQ). The internet companies are the fastest growing consumer companies. The India Internet economy may grow 500% by 2030.

Persons: Burton Malkiel, Kevin Carter, Todd Sohn, There's Organizations: Bombay Stock Exchange, Edge, Chemical Bank, Princeton University, EMQQ, India, Ecommerce, Strategas Securities, Microsoft, Apple, India's Tata Group, Bajaj Financial, China ETF, White House Locations: Europe, India, China, United States

A man walks past an AVIVA logo outside the company's head office in the city of London March 5, 2009. British life insurer Aviva on Thursday said it was maintaining its dividend, soothing concerns the payout could be cut to conserve capital, and reported annual profits that broadly met forecasts. REUTERS/Stephen Hird/File Photo Acquire Licensing RightsNEW DELHI, Nov 14 (Reuters) - India's tax inspectors searched the office of British insurance giant Aviva's (AV.L) life insurance unit near New Delhi last week and seized documents as part of an investigation into alleged tax evasion, sources familiar with the matter said. In a statement, Aviva Life Insurance, India, told Reuters "we can confirm that GST officials visited our head office site, we are in full cooperation with them." UK's Aviva has a 74% stake in Aviva Life Insurance in India, with the rest owned by India's Dabur Invest Corp. Aviva's life insurance business has a less than 0.5% market share on the basis of first-year premium collections in India.

Persons: Stephen Hird, Asit Rath, Sonali Athalye, UK's, India's Dabur, Aditya Kalra, Sharon Singleton Organizations: AVIVA, Aviva, Goods, Services Tax, Intelligence, Aviva Life Insurance, Reuters, Indian, Companies, Insurance Corporation, Bajaj Allianz, UK's Aviva, India's, India's Dabur Invest Corp, Thomson Locations: London, DELHI, New Delhi, India

☆ Indian shares rise as falling oil prices boost energy stocks
▼ + stars: | 2023-11-08 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Nov 8 (Reuters) - Indian shares rose on Wednesday, led by energy stocks, as crude prices fell, while a drop in high weightage financials after a recent rise capped gains. The NSE Nifty 50 index (.NSEI) was up 0.23% at 19,451.10 as of 10:07 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.14% to 65,027.13. "Moderation in U.S. bond yields, positive earnings and a drop in crude oil prices are positive for the markets," said analysts at Centrum Institutional Research. Ten of the 13 major sectors rose, with energy (.NIFTYENR) and oil & gas (.NIFYOILGAS) rising 0.5% and 1%, respectively. ICICI Bank (ICBK.NS), SBI Life Insurance (SBIL.NS), Bajaj Finance (BJFN.NS), Kotak Mahindra Bank (KTKM.NS) were among the top Nifty 50 losers, shedding between 0.3% and 0.8%.

Persons: Francis Mascarenhas, Powell, Brent, Bharath Rajeswaran, Dhanya Ann Thoppil, Sohini Goswami, Nivedita Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, BSE, Centrum Institutional Research, Bharat Petroleum Corporation, ICICI Bank, SBI Life Insurance, Bajaj Finance, Kotak Mahindra Bank, Wall, U.S, Treasury, Nasdaq, Apollo Tyres, Prestige Estate, Thomson Locations: Mumbai, India, China, Bengaluru

☆ Goldman Sachs just promoted 608 employees to the coveted role of managing directors. See the full list here.
▼ + stars: | 2023-11-02 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +14 min

Goldman Sachs announced its 2023 class of managing directors Thursday afternoon, giving 608 employees the coveted title. It's a smaller cohort than the bank's 2021 MD class, down 5% amid a dealmaking slowdown. Still, Goldman appears to have taken pains to promote employees in revenue-generating divisions like investment banking and trading. Goldman says the percentage of women it promoted as part of the 2023 MD class sets a record, up 1% from 2021. Two years ago, Goldman promoted the largest managing director class in its history, naming 643 employees to the designation in 2021.

Persons: Goldman Sachs, Goldman, David Solomon, John Waldron, we've, Solomon, Waldron, Goldman Sachs Fereshteh Abbasi Thomas Abe Devina Abreo Francesca Adamski Emmanuel Adenitire Gopal Agarwal Prasoon Agarwal Udit Agrawal Khamran Ali Omar Alzaim Dorothee Amar Akbar Amin Joe Amsler Wilfred Amuri Jack Anstey Paul Antonios Hidemi Aoki, Carolina Aragon Gonzalez Nelson Armbrust Georgina Aspden Laurene, Gisha, Sharon Babick Navin Babu Alexey Bachurin Alberto Bacis Patrick Badaro Rahul Bajaj Elise Bal Tanya Ballaram Brian Baltz Guillaume Banderet Nirav Bansal Nitin Bansal Swati, Chalapathi, Andrei Banu Camella Barnes James Barry Elisa Anna Bassu Aman Batra Eleanor Beasley Nicole Beavan Michael Becker Yukiko Beer Omar Benchekroune Richard Bennett Nigel Beslee Ashima Bhalla Nikhil Bhandari Nimita Bhargava Bodha Bhattacharya Rebecca Bibb Roseline, Rahul Bindu Mark Bird Leo Biselman Christian Blanc Patrick Bogues Michael Boratin Katherine Bordlemay Gabriela Borges Kate Boucher Erik Bouland Joanne Braidi Chris Brett Joseph Briggs Charles Brockett Emmeline Brothers Aaron Brown Adrienne Brown Kevin Bryck Archana Budida Oliver Bunn Rebecca Burgoyne Andrew Burpitt Todd Byers Patrick Byrne Michael Cahill Ashley Caldwell Jake Caldwell Serdar Caliskan Jon Calluzzo Stewart Campbell Samantha Cantor Yuri Cantor Dan Carabas Gemma Carlaw Laura Carroll Tim Carson Matt Carter Quentin Cezard Alex Cham Simon Chamama Heidi Chan Patrick Chan Suraj Chandran Kim Cheah Jon Cheh CP Chen Nelly Cheng Sarrah Cherhabil Jackson Cheung Michael Cheung Rama, Stan Chiu Anish, Kunal Choraria Ankit Chowdhari Dario Claus Cosimo Codacci, Michael Coleman David Collerd Shannon Collins Francesca Condini Lee Coppersmith John Couch Tim Creamer Maziar, Satish Damodaran Gareth Davies Serkan, Nick De Kock Ann de la, Nick De Kock Ann de la Montaigne Jan Debeuckelaer Molly Decker Gabrielle Decrion Laurent Dedieu Antoine Demongeot Yannick Derippe Deepalakshmi Desai Tim Desiano Joshua Dezube Randeep Dhillon Javier Diaz, Merry Matheus, Jared Dickow Alex Doell Mao Dong Praneil Doolabh Daniel Dooling Michelle Dorea Szymon Doroz Jacqueline Du Benjamin Duell Kelsey Dumont Julie Duval Todd Ebe Dayo, Jeremy Eisenstein Chris Elmore Ryan Erickson Joaquin Escribano Larry Estrada Pavel Fadeev Will Fairbourn Jeremy Falgiani Fabio Federici Wenlong Fei David Felman Sophia Ferguson Zach Fernandez David Fernandez Miguez Scott, William Fio Rito Duffy Fischer Lisa Florentine Akshay Fomra Janice Foo Nicholas Forbat Elie Franko Georgina Fraser Jason Freeman Nicole Freeman Oliver Friedberg Gavriel Friedland Ross Fuller Angela Fung Greg Furness Nikhil Gadodia Stefano Gamba Amit Singh Gambhir Javier Gandara Giorgio Gandola Amit Gangrade Sudha Garimella Mima Garland Mingmin Ge Graziano Gemma Shefali Gera Constance Germain Brad Gifford Benjamin Giles Abbas Ginwala Marlene Giorgio Thomas Giovachini Zachary Glasser Guillaume Gnech Harley Golding Yuriy Goldman Jesse Goldstein Roy Golender Sharon Gonnella Alejandro Gonzalez Steven Gooden Jessie Gould Varun, George Graf von Waldersee Florian Granier Jamie Greenberg Brian Grzelakowski Alessandro Guicciardi Michael Guiliano Samuel Guinness Bivash Gunpath Deepa Gupta Parikshit Gupta Lauren Gutierrez Johannes Hahn Chris Hallam Alex Halpern Christina Halpin Michael Hamilton Brooke Hammel Saki Hanioka John Hanson Mathew Harris Ally Hart Amy Harwood Tom, Emily Hashimoto Rob Haslam Michael Heino Brandon Herde Sarah Higgins Camilla Hill Spencer Hill Sho, Cecilia Ho Jonathan Ho Bryan Hoffman Kevin Hoffmeyer Eliza Hollyday Simon Holmes Mehdi, Lily, Derek Hu Jennifer Hui Tim Huiszoon Camille Humbert Kurt Humes Kelley Hutchison Masayuki Ichioka Andrew Imber Calvin Isaac Jackson Isaacs Sharif Ismail Yu, Doug Michael Jaffa Nitin Jagga Rahul Jain, Jataprolu Fiona Jervis Yinpeng Jin Sandeep Jindal Jennifer Jochinger Steven Johnson David Johnstone Megan Jordan Nicolas Joseph Bob Kadel Jean Kam Harneet Kaur Vinay Kaura Peter Kelman Stephanie Kenary Maggie Keohan Humayun Khalid Sunil Khandelwal Scott Kilpatrick Jenny Kim Ashley King Joel Klaus Rene Klos Rossitsa, Michael Kondoleon Gregory Kontopoulos Larry Kornreich Shrivathsa Kota Konrad Krallmann Ken Kraska Alexander Kretzberg Bryant Krongard Simon Kubbies Adam Kulik Peter Kulka Ajeya Kumar Aditya Kurella Sara Lachapelle Raagini, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc Mary LeDonne, Allison Lee Michael Lee Soohyun Lee Victoria Lewis Alice Li Qing Li George Lin Ali Lippert David Lipworth Bozhena Lisko, Murphy Mark Littlewood Zhenyi Liu Yelli Lobel Avinash Lobo Burke Loeffler Gabriela Lopez Cristian Lopez, Balboa Carlos Lopez Torrero Stephanie Louie Edward Lowe Reynolds Lowry Fei Luo Ranjan Luthra Sangeetha M Martin Ma Matthew Maciaszek Michael Magee Steffen Mahringer Poonam Majithia Terres Maloney Gopal Manchikanti Jade Mandel, Manfay Varun, Pierre Marboeuf Matt Margolin Thiago Marinheiro Kevin Martens Masato Maruyama Lucinda Mataka Rishi Mathur Pierre Maugest Scott Maxfield Andrei Maxim Michael McClurg Selina McCole Jeff McCown Andrea McGee Sinead McGuigan John McGuinness Benjamin McRoberts Amit Mehrotra Gaurav Mehta Kelly Mellecker Josef Menasche Raf Mercado Alexander Mielke Rachel Miles Christopher Miller Megan Miller Robert Miller Max Minton Edward Mitchell Oliver Money Tyler Moni Anna Montvai Taylor Moore Anthony Moschella Brandon Moy Faraz Munaim Sasha Munn Ashok Musuvathy Negar, Julian Naden Robinson Hiroki Nagamine Srijith Nair Cornelius Namiluko Sanjiv Nanwani Jay Narain Robert Andranik Nazarian Jovan Negovan Ryan Newman Michael Ng, Tasuku Nishihara John Nixon Kristy Nomi Alexandre Nunes Patrick O'Callaghan Yusuke Ochi KC O'Connor David Olivares Erica Olsen Victoria Ortengren Anas, Peter Pace Robert Packwood Nitin, Ellen Pak Ruth Pan Pedro Panizo Jayshri, Rahul Parikh Dan Parisi Freddie Parker Phil Parsons Peter Paruch Paul Pate Bella Patel Preya Patel Rakesh Patel Amit Patni Ed Paulinski Adam Pennacchio Kyle Penton Abhishek Periwal Michael Perrier Yoric Perrin Rasmus Persson Tommy Pinhas, Marco Poletti Megan Prasad Avijit Praveer James Puccinelli Sameer Punde Rob Pyne Na Qiao Valentina Quadri Marco Quirico Anya Radford Abhishek Rai Rahul Raj Ram Rajamony Ryan Ramsay Rami Rankoussi Nach Rao Pawan Rao Anurag Rathi Philip Renton Noel Reyes Ruth Reynolds Timothy Richards Peter Richter Brigid Riley Hutchinson Nick Rill Kristina Ristagno Vicky Ritter Martin Roberson James Roberts James Robinson Giorgio, Erin Roos Erin Ross Sumit Roy Conrad Ryan Soo, Ryu David Sage Jai Sahani Namita, Sarah Sakkej Karim Saleh Ayesha Salman Divya Samani Henrik Samuelsson Ryan Sansalone Vikram Sarker Shalini Satish Babu Charlotte Saury, Hania Schmidt Helene Schmitt Emily Schorr Wendy Schrunk Thomas Schwegler Michael Sciancalepore Brandon Seaman Benjamin Seigel Gamal Selvarajah Nicholas Semeniuk Devjoy Sengupta Michael Shafik Arpan Shah Shashwat Shah Shahnawaz Shahbaz Manoj Sharma Sachin Sharma Wazila, Gunduz Shirin Alex Silver Asmita Singh Kamalpreet Singh Andrew Sinnott Sapna, Dan Skinner Andrew Snow Stephanie Snyder Farouk Soussa Christopher Spahr Erik Sparks Matt Speltz Naveen Srinivasan Bhargav, Warren, Damian Steele Tobias Stein Catherine Stemp Dave Stringer Shekar Subramanian Jordan Sudy Philipp Suess Fatima Sultana Lu Sun Kumar Sundaram Fiona Syer Matthew Sykes Tofi, Filippo Taddei Sandhya Tadishetty Omer Tanvir Rita Taylor Zachary Tcheyan Brian Teague Wesley, Caitlin Terry Thomas Tesauro Hemal, Justin Therry Christine Thornburg Gregory Thysheril Angelo Tierno Alexander Tingle Ryan Townsend Cynthia Trillo Dimitris, Jessica Tung Jonathan Tung Ezgi, Zachary Upcheshaw Kiyomi, Nadine Urseanu Jim Vais Pim Valantagul Perrin Van Allen Annerieke van Dijk Jeroen van Dorp Dennis van Laer Todd van Stolk, Riley Jacqueline Vargas Alexander Vavalidis Edwin Velez Prasanna Venugopal Tim Verheyden Amanda Verstegen Ankit Vijay Vargiya Salvador Villanueva Arthur Villard Sichel Denzel Voesenek Bradley Wainwright Adam Walker Barbara Walters Omar Waly Daniel Wang Kenneth Wang Kristen Ward Gavin Warren Michael Washington Harry Webster Fredrik Weege Brian Weiss Thomas Weitz Nat Wells Joe Wenzel Tim Whitehead Henry Willans Matthew Williams Taylor Williams Katie Wilson Richard Wilson Stephanie Wisner Ilana Wolfe Jake Woodson Jeff Wu Qi Wu Jackson Yang Esma, Yoon Harm, John Zhai Jenny Zhang Lynn Zhang Raye Zhu Jane Zhuang Hans Zijlmans Carolyn Zimmer Samia Zitouni Mira Zorkot Organizations: Goldman, Wall, Carolina, Nick De Kock Ann de la Montaigne, Langalia Chaim Langer Alexander Langley Raven LaRue Dolapo Lawal Claire Leblanc Mary Locations: Europe, Asia, India

While bad loans in India's banking sector are at a decade-low, estimated at 3.6% of assets by March 2024 by the central bank, Reserve Bank of India Governor Shaktikanta Das said this month the central bank was monitoring some categories of personal loans, without elaborating. What's worrying the regulator is a surge in tiny personal loans, particularly loans of up to 10,000 rupees ($120) taken for three to four months, often for "lifestyle" spending, according to a person familiar with the central bank's thinking. Four people discussed the central bank's concerns with Reuters but declined to be identified as they are not authorised to speak to the media. Ismail Sayyed, a 30-year old cab driver from Mumbai, took his first personal loan of 5,000 rupees this year. Central bank officials "have been ringing the bell", said an official at a large bank that has seen sharp growth in personal loans.

Persons: Francis Mascarenhas, Shaktikanta Das, CRIF, Ismail Sayyed, Kadam, Rajeev Jain, Ira Dugal, Sonali Paul Organizations: Reserve Bank of India, REUTERS, Reuters, Bajaj Finance, UBS, Thomson Locations: Mumbai, India

☆ These leveraged short funds are soaring as stocks and bonds sell off. Here's how they work
▼ + stars: | 2023-10-07 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The list of top-performing exchange-traded funds since Sept. 19 — the day before the Federal Reserve released new projections that showed fewer rate cuts in 2024 — is dominated by leveraged and leveraged inverse products. The performance and increased interest shows that the inverse funds are doing their jobs, but there are important caveats for investors to know. The universe of inverse and leveraged inverse funds has grown widely, including sector-specific funds and even some single-stock products. Of course, the leveraged inverse funds can suffer massive losses if the market rebounds. Ullal also pointed out that some inverse products are technically exchange traded notes, not ETFs, which can introduce some credit risk in a trade.

Persons: Mohit Bajaj, Direxion's TMV, Bajaj, Aniket Ullal, Ullal Organizations: Federal Reserve, Bloomberg, Oil ETF, SCO, Nasdaq, Treasury, Treasury Bond ETF, U.S . Securities, Exchange, Bajaj, CFRA Research

☆ Indian shares set for muted opening; Delta Corp in focus after tax notice
▼ + stars: | 2023-09-25 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. India's GIFT Nifty (.GIFc1) was up 0.25% to 19,692 points at 7:53 a.m. IST on the NSE International Exchange. Meanwhile, the Nifty 50 index recorded its worst week since February. Domestic markets have come under pressure in September with foreign investors offloading over $1 billion worth of shares as of Sept. 21. Foreign institutional investors (FII) sold shares worth 13.27 billion rupees on a net basis on Friday, while domestic investors bought 8.01 billion rupees, as per provisional stock exchange data.

Persons: Francis Mascarenhas, Abbott, Ajith, Sohini Goswami Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, Exchange, BSE, Delta Corp, Bajaj Finance, Abbott India, Sethuraman, Thomson Locations: Mumbai, India, India's Goa, Bengaluru

☆ 4 things to consider before scaling your small business if you want to avoid crashing and burning, according to founders
▼ + stars: | 2023-09-14 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +6 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Consider your tolerance for riskAs a fairly risk-averse founder, Rabinovitch Consky always knew she wanted to find a gradual way to grow rather than raise money to scale as fast as possible. Marnie Rabinovitch Consky, the founder of Thigh Society. "It was always very clear what I was leaving on the table by not taking investment," Rabinovitch Consky said. "We don't even realize how much we've internalized this single narrative — it can weigh on our brains and make us feel less adequate as founders," Rabinovitch Consky said.

Persons: —, Marnie Rabinovitch Consky, that's, Rabinovitch Consky, Sarah Adler, Adler, Monisha Bajaj, I've, Bajaj Organizations: Service, M, Times

☆ The New Reality for College Dining Halls: Dozens of Dietary Restrictions
▼ + stars: | 2023-09-05 | by ( Priya Krishna | More About Priya Krishna | ) www.nytimes.com time to read: +1 min

The group has run on-campus trainings in how to use an EpiPen, and hosted discussions among students with allergies. Ms. Auerbach and Mr. Bajaj are already in contact with students at several other campuses to set up new chapters. “Colleges as a whole need to do more to support food allergy education and awareness,” Mr. Bajaj said. “The goal overall is to spread the club all over, to give a voice to food allergies.”Follow New York Times Cooking on Instagram, Facebook, YouTube, TikTok and Pinterest. Get regular updates from New York Times Cooking, with recipe suggestions, cooking tips and shopping advice.

Persons: “, Kethan Bajaj, Julia Auerbach, Auerbach, Bajaj, Mr Organizations: Northwestern, College, Food Allergy, Colleges, New York Times, Facebook, YouTube Locations: Northwestern

☆ Byju's business head resigns amid reorganisation at Indian startup
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

A man walks past an advertising hoarding of Byju's, an Education Technology company and one of India's biggest startup, outside one of its branch in New Delhi, India, June 23, 2023. REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsBENGALURU, Aug 29 (Reuters) - Byju's Chief Business Officer, Prathyusha Agarwal, and two other senior executives have resigned as the struggling Indian ed-tech startup restructures its business and operations, a company spokesperson said on Tuesday. Two other business heads - Himanshu Bajaj and Mukut Deepak - have also left, the company, once India's most valuable startup, said. Byju's has let go of thousands of employees this year as it grapples with multiple legal and financial woes. Reuters has reported that Byju's will file 2022 audited earnings by September and 2023 results by December.

Persons: Adnan Abidi, Prathyusha Agarwal, Agarwal, Himanshu Bajaj, Mukut Deepak, BYJU'S, Moneycontrol, Byju's, Mohandas Pai, Rajnish Kumar, Pranav Kiran, Navamya Ganesh, Nivedita Organizations: Education Technology, REUTERS, Rights, Byju's, Zee Entertainment Enterprises, Prosus NV, Deloitte, Reuters, State Bank of India, Thomson Locations: New Delhi, India, Bengaluru

☆ Indian lenders’ earnings get credit reality check
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File PhotoMUMBAI, Aug 7 (Reuters Breakingviews) - A near three-fold jump in net profit did little to cheer State Bank of India (SBI.NS) investors. April to June is seasonally weak for farm credit, and Khara said some delinquent accounts have already bounced back. Granted, overall delinquencies remain low: gross non-performing assets are just 2.76% of SBI’s portfolio, and less than half that at HDFC Bank. The fear is, as one executive told Breakingviews, that this is worsening as pandemic-era support schemes wind down and interest rates rise.

Persons: Dinesh Khara, Khara, Breakingviews, Shritama Bose, headwinds, Antony Currie, Thomas Shum Organizations: State Bank of India, REUTERS, Reuters, HDFC Bank, Bajaj Finance, Services, Twitter, Adidas, InBev, Thomson Locations: Kolkata, India, MUMBAI

☆ Hero MotoCorp raises new Harley-Davidson prices in India
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

A Harley Davidson X440 bike is displayed in this handout image obtained by Reuters on July 18, 2023. Hero MotorCorp/Handout via REUTERS/File PhotoBENGALURU, Aug 2 (Reuters) - Two-wheeler maker Hero MotoCorp (HROM.NS) on Wednesday raised prices of the new Indian Harley-Davidson motorcycle by 10,500 rupees ($127.45) days after the Harley chief executive said pre-orders of the new model exceeded the company's expectations. The Harley-Davidson X440 will be priced at 239,500 rupees ($2,905.06) and above, with the hike applicable for all its variants, Hero said in a statement. Triumph had crossed more than 14,000 in bookings last month, while Hero or Harley did not disclose their booking numbers. Hero shares were down as much as 2.6% in morning trade on Wednesday, while the U.S.-listed Harley-Davidson (HOG.N) shares closed 0.2% lower on Tuesday.

Persons: Harley Davidson, Hero MotorCorp, MotoCorp, Davidson, Harley, Hero, We've, Jochen Zeitz, Kashish Tandon, Dhanya Ann Thoppil Organizations: Reuters, REUTERS, Harley, Hero, British, Triumph, Bajaj Auto, Thomson Locations: Handout, BENGALURU, India, U.S, Bengaluru

☆ India's TVS Motor beats Q1 profit view on two-wheeler demand
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 24 (Reuters) - India's TVS Motor (TVSM.NS) reported a bigger-than-expected rise in first-quarter profit on Monday, helped by strong demand for its two-wheelers, including its flagship electric scooter. The Apache motorbike maker reported a near 46% jump in profit to 4.68 billion rupees ($57.2 million) for the quarter ended June 30, beating analysts' average estimate of 4.36 billion rupees, according to Refinitiv IBES data. TVS Motor, which exports two-wheelers to Asia, Africa and America, said its revenue from operations rose 20.1% to 72.18 billion rupees. With electric vehicle (EV) adoption gaining momentum, consumers also picked up TVS Motor's electric scooters ahead of a reduction in government subsidies, effective June 1. Rival two-wheeler maker Bajaj Auto (BAJA.NS) is scheduled to report results on July 25 while Hero MotoCorp (HROM.NS), the world's largest two-wheeler maker by sales, will report on Aug. 10.

Persons: MotoCorp, Dimpal, Savio D'Souza Organizations: TVS, TVS Motor, TVS iQube, Bajaj, Thomson Locations: BENGALURU, Asia, Africa, America, Bengaluru

"Is there going to be a challenge to Royal Enfield? It sold fewer than 30,000 motorcycles - less than the number of bikes Royal Enfield sells each month. Triumph said it has received orders for over 14,000 Speed 400 bikes, exceeding its total India sales of the past decade. Still, the frenzy over the new models is reflected in the surge in Google searches about Harley-Davidson and Triumph in India. Improved financing options is also encouraging lower-income buyers to consider premium bikes, said HDFC Securities analyst Aniket Mhatre.

Persons: Davidson, Rishi Vora, brokerages, Harley, Kotak, Royal Enfield's, Eicher, Royal, Shubhabrata Marmar, Enfield, Varun Painter, MotoCorp, Sathish Rao, Aniket Mhatre, Priyanka Kochhar, Indranil Sarkar, Aby Jose Koilparambil, Nandan Mandayam, Saumya Singh, Navamya Ganesh Acharya, Varun, Dhanya Skariachan, Euan Rocha, Christopher Cushing Organizations: Reuters, Bajaj Auto Ltd, Handout, REUTERS, Royal Enfield, Securities, Harley, Royal, Eicher Motors, Reuters Graphics Reuters, ROYAL, Enfield, Mahindra, Mahindra's, TVS, Bajaj Auto, Bajaj, Triumph, HDFC Securities, Thomson Locations: REUTERS BENGALURU, India, Royal Enfield, Bengaluru

☆ India is said to be an 'oasis' in the desert. Here are some sectors to watch for
▼ + stars: | 2023-07-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +8 min

Major economies were hit by higher inflation during the Covid-19 pandemic, but India's inflation was already elevated. In June, India's inflation rate was 4.81%, which remains within the Reserve Bank of India's tolerance band of 2% to 6%. There is a paradigm shift and flight of capital from Indian households savings to equity to contribute to the India growth story," Azeez told CNBC's "Squawk Box Asia" last week. "So whichever way one looks at the economic numbers, India appears as an oasis in the global desert," he added. watch nowHowever, Matthew Asia's Mittal said that instead of buying into pharmaceutical companies, upstream companies such as Syngene will be a good investment opportunity.

Persons: Goldman Sachs, Darren Robb, Feroze Azeez, Anand, Azeez, CNBC's, Nifty, it'll, Soumya Rajan, Peeyush Mittal, Nilesh Shah, Shah, Financials, Rajan, Waterfield's Rajan, We've, we've, Hindenburg, Matthews, Mittal, India's, Nestle, Kotak's Shah, Punit Paranjpe, Matthew Asia's Mittal Organizations: Bank, Getty, Wealth, Reserve Bank, Monetary Fund, Waterfield, Matthews Asia, CNBC, Mahindra Asset Management, IDFC, IDFC Ltd, HDFC Bank, Housing Development Finance Corporation, India's HDFC Bank, ICICI Bank, Bajaj Finance, Mahindra Finance, Nestle, World Bank, Nurphoto, Hindustan Unilever, Britannia Industries, Manufacturing Global, Godrej Aerospace, Afp Locations: India, United Kingdom, Japan, Mumbai, China, Nestle India, LuLu, Lulu, Kerala

☆ Ambani’s finance unit gets credit before it’s due
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, July 20 (Reuters Breakingviews) - Mukesh Ambani’s capacity to disrupt India’s $2 trillion small loans market is fully priced in. It’s a big endorsement, considering the lending company starts with a tiny $244 million loan portfolio as of March 2022. Ambani will have his task cut out to deliver on expectations, despite a reputation for upending industries from telecoms to retail. The $155 billion HDFC Bank (HDBK.NS), freshly merged with its mortgage financier parent, will chase the latter’s customers with renewed vigour. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mukesh, Ambani, It’s, Jio, Shritama Bose, whir, Xavier Niel’s, Una Galani, Thomas Shum Organizations: Reuters, Reliance Industries, Bajaj Finance, HDFC Bank, Twitter, Xavier Niel’s GAM, Thomson Locations: MUMBAI

☆ Bajaj Auto launches India-made Triumph bikes, shares jump to record high
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

The launch of the two models, made in partnership with UK's Triumph Motorcycles, sent Bajaj Auto shares to a record high of 4,900 rupees. The Triumph Speed 400 will be priced at 233,000 rupees ($2,834), Bajaj Auto said, but did not disclose a price for the Scrambler 400X. Bajaj will oversee the production and distribution of these bikes as part of the partnership, the two companies had said in April. With the entry of Bajaj and Hero in the premium bike space, analysts see stiff competition, loss of market share and growth concerns for Eicher. Hero MotoCorp's shares closed up 4.2%, nearly matching their 4.5% jump on Tuesday, while Bajaj Auto's shares have gained roughly 6% in the past two days.

Persons: Hero MotoCorp, Harley, Davidson, Hero MotoCorp's, Nandan Mandayam, Savio D'Souza Organizations: India's Bajaj, Eicher Motors, UK's, Bajaj Auto, Meteor, Bajaj, Triumph, Hero, Eicher, Bajaj Auto's, Thomson Locations: BENGALURU, India, Bengaluru

In the fiscal year 2022 through 2023, HDFC raised 784.15 billion from the debt market, higher than the 500 billion rupees a year before. It has raised 460.62 billion rupees since April this year. Mutual funds hold around 270 billion rupees of HDFC's bonds as of May 31, data from information service provider Prime Database showed. Rival LIC Housing Finance may be the biggest beneficiary of HDFC exiting the market, fund managers said. Other competitors such as ICICI Home Finance, Bajaj Housing Finance, Tata Capital Housing Finance and Shriram Housing Finance could also see an increase in demand for their debt issuances, they said.

Persons: HDFC, Raju Sharma, HFCs, Ajay Manglunia, Laukik Bagwe, Bagwe, IDBI Mutual Fund's Sharma, Dharamraj Dhutia, Dhanya Ann Thoppil Organizations: Housing Development Finance Corp, HDFC Bank, Reuters, IDBI Mutual Fund, Securities and Exchange Board of India, JM Financial, AAA, Mutual, LIC, Finance, ICICI Home Finance, Bajaj Housing Finance, Tata Capital Housing Finance, Shriram Housing Finance, Mutual Fund, IDBI Mutual, Thomson Locations: MUMBAI, India, HDFC

☆ India’s $1 bln education buyout is a studied bet
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, June 21 (Reuters Breakingviews) - The biggest merger in Indian corporate history has opened the door for private equity giant EQT (EQTAB.ST) to enter the country’s education finance market. The deal is touted as the largest ever PE buyout in the country’s financial sector and values Credila at roughly 101 billion rupees ($1.2 billion), or roughly 37 times earnings in the last financial year. The target specalises in education financing for those looking to universities in the United States, the UK and Canada for higher education. The buyers will also inject 20 billion rupees into Credila, which should help give the company, already a market major, an edge over rivals including state-controlled banks and the Warburg Pincus-backed Avanse Financial Services. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: HDFC, Credila, BPEA EQT, Warburg Pincus, Shritama Bose, Robyn Mak, Thomas Shum Organizations: Reuters, Chrys Capital, Bajaj Finance, Financial, Twitter, Virgin, Thomson Locations: MUMBAI, Swedish, United States, Canada, India, Credila, Cava

☆ Google zeroed in on these 3 categories of climate companies to boost
▼ + stars: | 2023-05-16 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

This year, the 12 companies mostly fell into three broad categories: Artificial intelligence, electric vehicle infrastructure, and providing companies with better data to decarbonize their operations. When I read the headlines about the dangers of the climate crisis, I feel a personal obligation to be a part of supporting innovative climate solutions to scale," Ridenour told CNBC. Google has hosted three climate change startup accelerators for North American companies in the last three years, and all 33 of the participants are all still operating, a spokesperson for Google told CNBC. "Teams are leaning deeper into developing AI and ML models to address climate change," Ridenour told CNBC. Cleartrace is particularly focused on measurement techniques for Scope 3 emissions -- emissions associated with a company's entire supply chain or value chain, which can be fiendishly difficult to track.

☆ India's Bajaj Finance beats Q4 profit expectations on strong loan demand
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, April 26 (Reuters) - Indian non-bank lender Bajaj Finance Ltd's (BJFN.NS) fourth-quarter profit beat estimates on Wednesday, led by strong customer addition on the back of demand for loans. Consolidated net profit rose 30.5% to 31.58 billion rupees ($386.4 million) for the quarter ended March 31, beating analysts' expectations of 30.93 billion rupees, according to Refinitiv IBES data. The company's customers increased by about 3.1 million in the fourth quarter, it said earlier this month. Net interest income, the difference between interest earned on loans and paid on deposits, rose 28% to 77.71 billion rupees, while interest income jumped 33.6% year-on-year. ($1 = 81.7400 Indian rupees)Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set to open higher as strong earnings lift mood
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, April 24 (Reuters) - Indian shares were set to open higher on Monday as improved quarterly results from heavyweights Reliance Industries Ltd (RELI.NS) and ICICI Bank Ltd(ICBK.NS) eased some concerns over a lacklustre start to the earnings season. India's most valuable company, Reliance Industries reported 19% growth in fourth-quarter profit, aided by the strong performance in oil-to-chemicals (O2C) segment, post market hours on Friday. Private lender ICICI Bank posted a 30% jump in net profit in the March quarter, helped by improved net interest income and loan growth. The strong earnings of the two companies, which account for nearly 20% of the total weightage in Nifty 50, could improve the sentiment soured by the weak earnings and outlook of top information technology companies, analysts added. Stocks to Watch:** Yes Bank Ltd (YESB.NS): Lender's net profit slumps 45% in the March quarter on higher provisions.

☆ Are left handed people more creative? Brain scans reveal why these individuals might be wired differently
▼ + stars: | 2023-03-07 | by ( Erin Heger | ) www.businessinsider.com time to read: +7 min

In particular, they display less brain lateralization than right-handers, said Eric Zillmer, a professor of neuropsychology at Drexel University. Because lefties rely less on the left hemisphere, researchers describe this as displaying less brain lateralization, Zillmer said. Zillmer said these differences in brain lateralization may help left-handers think more outside the box and therefore have a more creative edge. "Our creative brain is utilized when we are engaging in new, unfamiliar experiences," Bajaj said. If you want to use your left hand more often, practice.

☆ India's Bajaj Auto falls after report on planned production cuts
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Bajaj Auto did not respond immediately to Reuters' request for comment on the Economic Times (ET) report, which said that the cut would reflect pressure in Nigeria, its largest export market. Bajaj Auto is likely to produce 250,000-270,000 units in March, ET reported, citing multiple people aware of the production plans. That's lower than its average monthly production of 338,000 units in the first nine months of FY 2023, the report added. The report did not specify how many units each of the two- and three-wheelers Bajaj Auto was likely to produce. They had risen 11.3% in 2022, against a 15.31% rise in the Nifty auto index (.NIFTYAUTO).

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