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Indian shares hit record highs as Asian peers gain; Fed meeting eyed
  + stars: | 2021-06-15 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
FILE PHOTO: A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, February 28, 2020. Broader Asian markets tracked overnight gains on Wall Street, with investors looking to a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the U.S. monetary policy outlook. Many investors expect the Fed to maintain its dovish stance at its two-day meeting from Tuesday. In Mumbai trading, Reliance Industries Ltd and HDFC Ltd were the top performers on the Nifty 50, adding 0.6% and 0.5%, respectively. Shares of Reliance have gained in the last five consecutive trading sessions.
Persons: Hemanshi Organizations: Bombay Stock Exchange, REUTERS, U.S, BSE, Reliance Industries Ltd, HDFC, Reliance Locations: Mumbai, India, BENGALURU, U.S . Federal
Indian shares end higher as Reliance gains; inflation data in focus
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Francis Mascarenhas/File PhotoBENGALURU (Reuters) - Indian shares closed higher on Monday, boosted by conglomerate Reliance Industries Ltd and software major Infosys Ltd, while investors eyed more inflation data due later in the day. The blue-chip NSE Nifty 50 index ended 0.08% higher at 15,811.85, while the benchmark S&P BSE Sensex rose 0.15% to 52,551.53 at close. In Mumbai trading, Reliance Industries and Infosys were among the top performers on the Nifty 50, gaining 1.4% and 0.9%, respectively. Reliance shares have gained in five of the last eight sessions. Limiting gains was top Nifty 50 loser Adani Ports and Special Economic Zone Ltd, which slumped 8.5%.
Persons: Francis Mascarenhas, Lupin Organizations: REUTERS, Reliance Industries Ltd, Infosys Ltd, BSE, Reliance Industries, Infosys, Reliance, Economic, Ltd, National Securities Depository Ltd, Economic Times, Adani Enterprises, U.S . Food, Drug Administration, U.S Locations: Mumbai, India, BENGALURU, U.S, New Jersey, U.S . Federal
Indian shares close at record high as COVID-19 curbs ease
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com + 0.89   time to read: +2 min
BENGALURU (Reuters) - Indian shares ended at a record high on Friday, gaining for a fourth consecutive week as more states eased pandemic restrictions, with investors seeming confident that high U.S. inflation was transitory following the latest reading. FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas/File photoThe blue-chip NSE Nifty 50 index rose 0.39% to 15,799.35 and the benchmark S&P BSE Sensex closed 0.33% higher at 52,474.76. The southern Indian state of Karnataka, home to the tech hub Bengaluru, announced on Thursday it would ease some COVID-19 restrictions in a phased manner. The country’s richest state Maharashtra, Prime Minister Narendra Modi’s home state of Gujarat and the Indian capital New Delhi have already announced relaxations.
Persons: Francis Mascarenhas, ” Amar Ambani, Narendra Modi’s Organizations: Bombay Stock Exchange, REUTERS, BSE, Yes Securities, Reliance Industries Ltd, Infosys Ltd, Tata Consultancy Services, Steel Authority of India Ltd Locations: BENGALURU, Mumbai, India, Karnataka, Bengaluru, Maharashtra, Gujarat, New Delhi
Indian shares open higher as IT, energy firms gain
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.58   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 6, 2020. REUTERS/Francis Mascarenhas/File photoBENGALURU (Reuters) - Indian shares rose on Thursday, with information technology and energy companies gaining the most, as investors awaited U.S. inflation data and the outcome of a European Central Bank meeting later in the day. The blue-chip NSE Nifty 50 index was up 0.35% at 15,681.80 and the benchmark S&P BSE Sensex rose 0.30% to 52,103.55 by 0346 GMT. Reliance Industries Ltd, Infosys Ltd and Tata Consultancy Services Ltd were among the top boosts to the Nifty 50, gaining between 0.7% and 0.8%. The Nifty IT index, which has gained 2% so far this week, was up 0.89%.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, European Central Bank, BSE, Reliance Industries Ltd, Infosys Ltd, Tata Consultancy Services, Federal Locations: Mumbai, India, BENGALURU, U.S
Indian shares close flat as financials offset energy gains
  + stars: | 2021-06-02 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, May 20, 2019. REUTERS/Francis MascarenhasBENGALURU (Reuters) - Indian shares ended little changed for a second straight session on Wednesday as investors refrained from making big bets due to concerns over high valuations following a recent rally. The blue-chip NSE Nifty 50 index rose 0.01% to 15,576.20 at close, while the benchmark S&P BSE Sensex slipped 0.16% to 51,849.48. Both the indexes gained more than 6% last month as a steady decline in daily COVID-19 cases lifted investor sentiment. Reliance shares have risen for six straight sessions.
Persons: Francis Mascarenhas BENGALURU Organizations: Bombay Stock Exchange, REUTERS, BSE, ITC, HDFC Bank, Infosys, Reliance Industries Ltd, Tata Steel Ltd, Reliance, Sumi Systems Locations: Mumbai, India, COVID, United States, Europe
Indian shares flat as energy gains offset losses in financials
  + stars: | 2021-06-01 | by ( Rama | ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Francis MascarenhasBENGALURU (Reuters) - Indian shares’ recent rally was stalled on Tuesday, as gains in energy stocks, amid optimism from declining daily cases of COVID-19, were offset by losses in materials and financials. The blue-chip NSE Nifty 50 index closed 0.05% lower at 15,574.85, while the benchmark S&P BSE Sensex was unchanged. Energy stocks gained after Brent crude prices topped $70 and traded at their highest since March, as optimism grew over the fuel demand outlook. Investor sentiment has improved in recent days due to a steady decline in daily COVID-19 cases. Economists, however, are pessimistic about the current quarter after a huge second wave of COVID-19 infections hit the country last month.
Persons: Francis Mascarenhas BENGALURU, , Samrat Dasgupta Organizations: Bombay Stock Exchange, REUTERS, BSE, Esquire Capital Investment Advisors, Energy, Brent, Reliance Industries Ltd, Oil, Natural Gas Corporation Ltd Locations: Mumbai, India, COVID
Indian shares rally as COVID-19 cases fall; GDP data awaited
  + stars: | 2021-05-31 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
BENGALURU, May 31 (Reuters) - Indian shares ended 1% higher on Monday, extending their rally from last week, as a declining trend in daily COVID-19 cases buoyed investor sentiment ahead of GDP data for the first three months of the year. The blue-chip NSE Nifty 50 index rose 0.95% to 15,582.80 at close, while the benchmark S&P BSE Sensex climbed 1% to 51,937.44. The indexes posted gains of around 2% each last week, with the Nifty closing at a record high on Friday. Energy and financials provided the biggest support, with the Nifty energy index climbing 1.75%, the second highest most among sub-indexes. The Nifty Bank Index closed 1.10% higher and the Nifty Private Bank Index rose 1.09%.
Persons: financials, Rama Venkat, Sriraj Kalluvila Organizations: BSE Sensex, Energy, Conglomerate Reliance Industries Ltd, ICICI Bank Ltd, Mahindra, Mahindra Ltd Locations: BENGALURU, COVID, Bengaluru
Indian shares rise as daily COVID-19 cases fall; GDP data eyed
  + stars: | 2021-05-31 | by ( Rama | ) www.reuters.com sentiment -1.00   time to read: +1 min
REUTERS/Danish SiddiquiBENGALURU (Reuters) - Indian shares on Monday extended last week’s rally as declining COVID-19 cases buoyed investor sentiment ahead of GDP data for the first three months of the year. The NSE Nifty 50 index rose 0.44% to 15,503.70 by 0515 GMT, while the benchmark S&P BSE Sensex climbed 0.55% to 51,1702.53. Both the indexes posted weekly gains of around 2% each, with the Nifty 50 closing at a record high on Friday. Conglomerate Reliance Industries Ltd and ICICI Bank Ltd were the top boosts to the Nifty 50, gaining 2.5% and 2.1%, respectively. India on Monday reported its lowest daily increase in new COVID-19 infections since April 11 at 152,734, while deaths rose by 3,128.
Persons: Siddiqui, “ Today’s, , Anand James Organizations: Bombay Stock Exchange, REUTERS, NSE, BSE, Geojit Financial Services, Conglomerate Reliance Industries Ltd, ICICI Bank Ltd, Reliance Locations: Mumbai, India, Siddiqui BENGALURU, tailwinds
India's blue-chip Nifty 50 ends at record high
  + stars: | 2021-05-28 | by ( Reuters Staff | ) www.reuters.com sentiment -0.81   time to read: +2 min
REUTERS/Danish SiddiquiBENGALURU (Reuters) - India’s blue-chip Nifty 50 index closed at a record high on Friday, helped by gains in energy and financials stocks, as falling COVID-19 infection rates bolstered risk appetite. The blue-chip NSE Nifty 50 index ended 0.64% higher at 15,435.65, while the benchmark S&P BSE Sensex was up 0.6% at 51,422.88. Conglomerate Reliance Industries Ltd and mortgage lender HDFC Ltd were among the top boosts to the Nifty 50, ending 6% and 1.3% higher, respectively. The Nifty energy index rose 1.41%, gaining the most among other sub-indexes. The Nifty Bank Index closed 0.13% higher, and the Nifty PSU Bank Index, which tracks state-run banks, was up 0.67%.
Persons: Siddiqui, Nirmala Sitharaman, , Hemang Jani Organizations: REUTERS, BSE Sensex, Motilal Oswal Financial Services, Conglomerate Reliance Industries Ltd, HDFC, Nifty, Mahindra Locations: Mumbai, India, Siddiqui BENGALURU, COVID, United States
India's blue-chip Nifty 50 hits record high as COVID-19 cases drop
  + stars: | 2021-05-28 | by ( Rama Venkat | ) www.reuters.com + 0.00   time to read: +2 min
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, August 24, 2015. REUTERS/Danish SiddiquiIndia's blue-chip Nifty 50 index hit a record high on Friday as falling COVID-19 infection rates boosted sentiment, while investors awaited a key indirect tax-related meeting by the country's finance minister later in the day. The NSE Nifty 50 index (.NSEI) was up 0.68% at 15,440.30 by 0503 GMT, while the benchmark S&P BSE Sensex (.BSESN) was 0.59% higher at 51,417.84. In Mumbai trading, conglomerate Reliance Industries Ltd (RELI.NS) and mortgage lender HDFC Ltd (HDFC.NS) were among the top boosts to the Nifty 50, gaining 3.1% and 1%, respectively. The Nifty Bank Index (.NSEBANK) and the Nifty PSU Bank Index (.NIFTYPSU), which tracks state-run banks, gained between 0.51 and 0.36%.
Persons: Siddiqui, Vijayakumar, Nirmala Sitharaman, Biden Organizations: REUTERS, NSE, BSE, Geojit Financial, Reliance Industries Ltd, HDFC, Nifty, Mahindra, Thomson Locations: Mumbai, India, COVID, United States
Indian shares unchanged as financials offset gains in energy
  + stars: | 2021-05-26 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
A woman walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, January 31, 2020. REUTERS/Francis Mascarenhas/File PhotoIndian shares were little changed on Wednesday, as gains in energy and consumer discretionary stocks were countered by losses in financials and materials. Tata Steel Ltd (TISC.NS) and HDFC Bank Ltd (HDBK.NS) were among the top drags to the index, losing 0.93% and 2.92%, respectively. Investors’ risk appetite has improved recently due to a steady decline in daily COVID-19 cases in India. On Tuesday, the country reported its lowest daily rise of cases in more than a month.
Persons: Francis Mascarenhas Organizations: Bombay Stock Exchange, REUTERS, BSE, Reliance Industries Ltd, Hindustan Unilever Ltd, Tata Steel Ltd, HDFC Bank, Investors, Bharat Petroleum Corporation Ltd, Thomson Locations: Mumbai, India, financials, 15218.05, COVID
Indian shares tumble as domestic COVID-19 cases shoot past 20 million
  + stars: | 2021-05-04 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
BENGALURU (Reuters) - Indian shares ended at their lowest level in more than a week on Tuesday, dragged by heavyweight financials, energy and IT stocks, as domestic coronavirus cases crossed the grim milestone of 20 million. FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 1, 2020. The Nifty Pharma index was the worst performer, dropping 2%, with drugmaker Cipla Ltd shedding 3.5%. Stocks of state-run banks were among the best performers in the market, with the Nifty PSU Banking index jumping 3.4%. Nifty 50 component Adani Ports and Special Economic Zone closed 1% higher ahead of its quarterly results.
Persons: Francis Mascarenhas, ” Shaun Roche, drugmaker Organizations: REUTERS, BSE, Indian Premier League, P Global, Conglomerate Reliance Industries Ltd, HDFC Bank, Infosys, Pharma Locations: BENGALURU, Mumbai, India, Asia
Capital Calls: Reliance spotlights a troubled consumer
  + stars: | 2021-05-03 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
A woman walks past an apparel store of Reliance Industries Ltd, in Mumbai, India, October 7, 2020. Reviving Indian consumption will be hard if management commentary and results from Reliance Industries are any indication. Foot traffic at the conglomerate’s grocery, fashion and electronics stores recovered to 88% of pre-pandemic levels in the three months to March. In April, it nosedived to as little as 35%, below activity levels seen during the first wave. It could take time for demand to store up again, and even then shopping may be restrained.
Persons: Niharika, Una Galani, SPAC Organizations: Reliance Industries Ltd, REUTERS, Reliance Industries, India’s, of Indian Industry Locations: Mumbai, India, Una, Asia
Bombay Oxygen (BOXY.BO), National Oxygen Ltd (NTOX.BO) and Bhagawati Oxygen Ltd (BHOX.BO) — all tiny firms not listed on any major stock index — have surged 47% or more in April, a period in which India's broader market (.NSEI) has slumped 2%. Over the past few days, India has ramped up oxygen production nationwide as supplies of the gas have fallen short and infections surge. National Oxygen and Bhagawati Oxygen produce industrial gases including oxygen, but Bombay Oxygen ended its gas operations in 2019 and is now a non-bank lender, according to its latest annual report. Formerly known as Bombay Oxygen Corp Ltd, it is now Bombay Oxygen Investments Ltd. Its shares have climbed 112% since the start of April. A Gagan plant manager said the company does not produce oxygen.
Persons: Adnan Abidi, COVID, Rusmik Oza, Kotak's Oza Organizations: REUTERS, Bombay, National Oxygen Ltd, Bhagawati Oxygen, Oxygen, Bombay Oxygen, Bombay Oxygen Corp Ltd, Bombay Oxygen Investments, Bombay Oxygen's, Kotak Securities, Linde India Ltd, Linde, Reliance Industries Ltd, Indian Oil Corp, Gagan Gases, Thomson Locations: New Delhi, India, Bombay, Mumbai, U.S
(Reuters) - Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. FILE PHOTO: Oil pumpjacks are seen in Lagunillas, Venezuela May 24, 2018. REUTERS/Isaac UrrutiaThe Trump administration since the last quarter of 2020 has barred companies from sending Venezuela diesel in exchange for crude. Those deals were exempted for more than a year from sanctions on state oil company Petroleos de Venezuela SA, aimed at ousting President Nicolas Maduro, who has overseen an economic collapse. Companies that frequently engaged in the swaps with U.S. government authorization include India’s Reliance Industries Ltd, Spain’s Repsol SA, and Italy’s Eni SpA.
Persons: Joe Biden, Isaac Urrutia, Trump, Nicolas Maduro, , Feliciano Reyna, Biden, ” Reyna, PDVSA, Elliott Abrams, Geoff Ramsey, Organizations: Reuters, U.S, REUTERS, Venezuela, de Venezuela SA, Accion, India’s Reliance Industries Ltd, Spain’s Repsol SA, Eni SpA, Reliance, Biden, Gas Energy, U.S . State, State Department, Treasury Department, Washington Office Locations: Venezuela, Lagunillas, Washington, Caracas, U.S, CUBA, America, Iran, Cuba, U.S ., U.S . State Department’s, WOLA
MOHALI, India (Reuters) - Dozens of Reliance Industries’ retail stores and a giant Walmart outlet face revenue losses of millions of dollars after being forced to shut for more than three months over protests against India’s new farm laws, sources said. One industry source said estimated losses for Reliance from its state-wide shutdowns run into millions of dollars. Two other sources said Walmart’s estimated revenue loss from its store, one of 29 such outlets nationwide, has crossed $8 million. Reliance store officials and the sources, who have direct knowledge of the situation, sought anonymity as they were not authorized to speak to media. Another farm leader, Jagtar Singh, said protests against Reliance would continue until the government repealed the laws.
Persons: Manoj Kumar, Narendra Modi, , Ankur Bisen, Kulwant Singh Sandhu, Jagtar Singh, Mukesh Ambani Organizations: Reliance Industries, Walmart, Reliance Smart, Reliance Industries Ltd, REUTERS, Reliance Retail, Reliance, Technopak Advisors, Democratic Farmers ’ Union Locations: MOHALI, India, Kharar, Chandigarh, Punjab, Bathinda, Mohali, , New Delhi
Silver Lake raises $20 billion for buyout fund
  + stars: | 2021-01-13 | by ( Reuters Staff | ) www.reuters.com sentiment -0.90   time to read: 1 min
(Reuters) - Silver Lake said on Wednesday it had raised about $20 billion for its buyout fund, Silver Lake Partners VI, as the technology-focused private equity firm looks to focus on large-scale investments. Silver Lake, which manages about $75 billion in combined assets under management and committed capital, has recently invested in major names, including Alphabet Inc’s Verily Life Sciences LLC and India’s Reliance Industries Ltd. Buyout funds typically return money to investors three to seven years following their fundraising. Silver Lake has stakes in social media firm Twitter Inc, U.S. home rental firm Airbnb Inc and movie theater chain AMC Entertainment Holdings Inc, according to its website.
Persons: Lake Organizations: Reuters, Silver Lake Partners VI, Sciences, India’s Reliance Industries Ltd, Lake, Twitter Inc, Airbnb Inc, AMC Entertainment Holdings Locations: Silver
FILE PHOTO: Kishore Biyani, CEO and founder of India's Future Group poses after the inauguration of Foodhall, a premium lifestyle food superstore by the Future Group, store in Mumbai, India, December 1, 2018. REUTERS/Francis Mascarenhas/File PhotoFuture and Amazon are at loggerheads over the Indian group’s August deal with Reliance Industries Ltd. Future Retail has warned that failure to close the deal could lead to the company’s liquidation and job losses for more than 29,000 employees. “We have restored businesses to a certain extent, but there are challenges,” said Biyani, dubbed India’s retail king for transforming the country’s retailing in recent decades. Criticising Amazon, however, Biyani said he was confused what Amazon wanted to achieve by blocking his deal.
Persons: Kishore Biyani, Francis Mascarenhas, Future’s, Amazon’s, , , Biyani, Dipak Misra, Misra, SEBI Organizations: Group, India's, Future Group, REUTERS, Reliance Industries Ltd, Reuters, Reliance, Securities, Exchange Board of India, Retail, U.S, Amazon, NSE Locations: DELHI, Mumbai, India, U.S, Delhi, Singapore
Punjab warns farm protesters against telecom mast attacks
  + stars: | 2020-12-28 | by ( Rupam | Jain | Abhirup Roy | ) www.reuters.com sentiment -1.00   time to read: +2 min
NEW DELHI/MUMBAI (Reuters) - India’s major grain-growing state of Punjab on Monday asked police to crack down on farmers and sympathisers vandalising telecommunication masts as they intensify their weeks-long protests against farm deregulation. Slideshow ( 5 images )Protesters have attacked hundreds of masts of companies such as oil-to-groceries conglomerate Reliance Industries Ltd that they believe have profited from the farm reforms at their expense. Representatives of two of the more than two dozen farmer unions protesting against the laws rejected the allegations when contacted by Reuters. They asked to remain unidentified pending a formal statement from all of the unions. The government and farmers are scheduled to hold another round of talks this week.
Persons: Amarinder Singh, Jio Organizations: NEW, Monday, Reliance Industries Ltd, Reuters, Reliance, WalMart Inc, Adani Enterprises Locations: NEW DELHI, MUMBAI, Punjab, New Delhi
NEW DELHI/MUMBAI (Reuters) - Authorities in India’s northern state of Punjab are investigating whether protesting farmers were disrupting power supply to hundreds of telecom towers, a state official said on Monday, amid protests over new farm laws. REUTERS/Adnan Abidi“We have told the police to track all those involved in sabotaging the infrastructure,” a senior official in the Punjab state government told Reuters on condition of anonymity. A senior Punjab state police official said the power supply was disrupted to several telecom towers in the state, mainly ones owned by Jio, the telecommunications arm of Reliance Industries. Representatives of two of the 31 farmers’ unions protesting against the laws rejected the allegations when contacted by Reuters. Punjab’s state government is opposed to the new farm laws and a seventh round of talks between farmer unions and federal government officials is scheduled on Tuesday.
Persons: Adnan Abidi “, , Jio, Tilak Raj Dua, Dua, Narendra Modi’s, Modi Organizations: NEW, REUTERS, Reuters, Jio, Reliance Industries, Infrastructure Providers Association, WalMart Inc, Reliance Industries Ltd, Adani Enterprises Locations: NEW DELHI, MUMBAI, India’s, Punjab, India's, Shambhu, India, New Delhi
NEW DELHI (Reuters) - Indian Prime Minister Narendra Modi’s party said on Tuesday there was no question of the government repealing agriculture laws fiercely opposed by farmers who are worried deregulation will reduce their incomes. The government says the laws enacted by parliament in September would increase farmers’ income through more private investments. Earlier in the day, Agriculture Minister Narendra Singh Tomar appealed to the protesting farmers to hold further talks. “We assure our farmers that we’ll listen to them with an open mind,” Tomar told foreign journalists. Urging India’s diaspora to help the government to convince farmers, Tomar said the policy changes would make agriculture more attractive for farmers.
Persons: Narendra Modi’s, , ” Gopal Krishna Agarwal, , Narendra Singh Tomar, ” Tomar, Tomar, Rakesh Tikait Organizations: Indian, India’s, WalMart Inc, Reliance Industries Ltd, Adani Enterprises Ltd, Bharatiya Janata Party, Reuters, “ Farmers, Bhartiya Kisan Union Locations: DELHI, New Delhi, Punjab, Australia, Britain, Canada, United States
Amazon eyes potential $100 million investment in India's Apollo Pharmacy - ET
  + stars: | 2020-12-09 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: The Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, U.S. November 25, 2020. BENGALURU (Reuters) -Amazon.com Inc is considering a nearly $100 million investment in India's pharmacy chain Apollo Pharmacy, facing up to Reliance Industries Ltd and Tata Group in the country's fast-growing drug market, the Economic Times reported on Wednesday, citing two people aware of the plans. (bit.ly/3oy7TfO)Amazon already delivers medicines in India and the potential investment would come amid rising competition from Mukesh Ambani’s Reliance, which bought a majority stake in online pharmacy Netmeds. Tata Group here, meanwhile, was reportedly in talks to pick up a majority stake in e-pharmacy firm 1mg. Both Amazon and Apollo Hospitals, which owns Apollo Pharmacy, declined to comment.
Persons: Brendan McDermid, Mukesh Ambani’s Organizations: REUTERS, Inc, Apollo, Reliance Industries Ltd, Tata Group, Economic Times, Apollo Pharmacy, Walgreens, CVS Health, Walmart Locations: Staten Island , New York, U.S, BENGALURU, India, United States
Amazon is looking to invest nearly $100 million in Apollo Pharmacy, the Indian pharmacy chain, two people familiar with the plans told the Economic Times Wednesday. The potential investment would come amid competition in India from Mukesh Ambani's Reliance, which recently bought a majority stake in online pharmacy Netmeds. Amazon is reportedly considering a nearly $100 million investment in India's pharmacy chain Apollo Pharmacy, close on the heels of its launch of an online pharmacy to deliver prescription drugs in the US. Both Amazon and Apollo Hospitals, which owns Apollo Pharmacy, declined to comment to Reuters. In June 2019, Amazon launched a brand of over-the-counter medication, and in August 2020, the company launched a health-monitoring wristband called Halo.
Persons: Amazon's, Mukesh Ambani's, Read Organizations: Apollo Pharmacy, Economic, Pharmacy, Apollo, Reliance Industries Ltd, Tata Group, Economic Times, Reuters, Amazon Pharmacy, Walgreens, CVS Health, Walmart, Amazon, Web Services, Business Locations: India
The middlemen provide quick funds for seeds and fertilisers, and even for family emergencies, said the farmers. The government is holding talks with the farmers to persuade them to end their protest and see the longer-term benefit of the reforms. Many economists, including former government adviser Ashok Gulati, say the reforms would bring fresh investments to the sector. “There is a symbiotic relationship between the two, and for most farmers, middlemen are like ATMs,” Sharma said. The farmers also worry that after initially paying good returns for their produce, corporate buyers could force down prices.
Persons: Sukhbinder Singh, Santokh Singh, Narendra Modi, Modi, , ” Singh, Jasbir Singh, ” Jasbir Singh, ” Modi, Ashok Gulati, ” Gulati, , Devinder Sharma, ” Sharma, Paramjit Singh Sarna Organizations: REUTERS, WalMart Inc, Reliance Industries Ltd, Adani Enterprises Ltd, Reuters, India Agricultural Workers Union Locations: DELHI, city’s, Singhu, Delhi, India, Punjab, Haryana, Bihar
Reliance's deal talks with Saudi Aramco gaining momentum: ET Now
  + stars: | 2020-11-09 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: Mukesh Ambani, chairman of Reliance Industries Limited, poses for photographers before addressing the annual shareholders meeting in Mumbai, India, June 12, 2015. REUTERS/Shailesh AndradeBENGALURU (Reuters) - Reliance Industries Ltd RELI.NS and Saudi Aramco 2222.SE are resuming talks over a 20% stake sale by the Indian conglomerate in its oil-to-chemical business after a brief pause due to COVID-19 pandemic, ET Now reported on Monday, citing sources. Both the companies were committed to the deal and Aramco wants to do physical inspection of Reliance’s assets in India, the report said. The deal, estimated to be about $15 billion as of August last year, had stalled over price, Reuters reported earlier this year. “India offers tremendous growth opportunities over the long term and Aramco continues to evaluate new business opportunities with our potential partners,” Saudi Aramco said in an e-mailed statement.
Persons: Mukesh Ambani, Shailesh Andrade Organizations: Reliance Industries, REUTERS, Shailesh Andrade BENGALURU, Reliance Industries Ltd, Aramco, Reuters, India, Reliance Locations: Mumbai, India, Saudi Aramco
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