DIRS.INFO The most relevant business & tech news

☆ Indian winemaker Sula not losing sleep over foreign rivals - CEO
▼ + stars: | 2023-09-15 | by ( Biplob Kumar Das | ) www.reuters.com time to read: +2 min

BENGALURU, Sept 15 (Reuters) - India's largest winemaker, Sula Vineyards (SULA.NS), is expanding its production capacity and counting on a pricing sweet spot to fend off foreign rivals in its home turf. Last year, the Indian government slashed import duties for some Australian winemakers as part of a foreign trade agreement (FTA) between the two nations. But among all the Indian wine companies, Sula has the least to fear," Chief Executive Officer Rajeev Samant told Reuters. He is counting on Sula's pricing strategy to thwart rivals. Wine consumers are getting "turned on" by the 800 rupee-plus category, he said, adding that the rise in demand for premium wines was largely limited to India's big cities.

Persons: Rajeev Samant, Samant, Grover Zampa, Biplob Kumar Das, Dhanya Skariachan, Gerry Doyle Organizations: Reuters, Grover, Diageo, Spirits, Heineken, United Breweries, Thomson Locations: BENGALURU, Sula, India, Mumbai, Bengaluru

☆ India's Nifty 50, Sensex hit record highs on rising hopes of a Fed rate pause
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: 1 min

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Sept 14 (Reuters) - India's blue-chips Nifty 50 and Sensex opened higher and hit fresh all-time highs on Thursday, as sentiment improved after U.S. inflation data cemented the likelihood of a pause in the rate hike cycle by the Federal Reserve. The Nifty 50 (.NSEI) was up 0.29% to a new all-time high of 20,127.95 by 9:15 a.m. IST, while the S&P BSE Sensex (.BSESN) gained 0.24% to 67,627.03. The Nifty had scaled new peaks on Monday and Tuesday, while the Sensex hit a record high for the first time since July 20. ($1 = 82.9000 Indian rupees)Reporting by Bharath Rajeswaran and Archishma Iyer in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Sensex, Bharath Rajeswaran, Archishma Iyer, Janane Organizations: Bombay Stock Exchange, REUTERS, Rights, Federal Reserve, BSE, Thomson Locations: Mumbai, India, Bengaluru

It unveiled iPhone 15 models, including its first titanium phone, USB-C charging, new watches, and more. Here are the top takeaways from the event:The iPhone 15 and iPhone 15 Pro introduced some big changesApple unveiled four new phones on Tuesday: the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max. The iPhone 15 Pro and Pro Max are the first iPhones made of titanium; Apple says they're made from the same alloy as was used in the Mars Rover. New Apple Watches — and a nifty new way to control themThe company unveiled the Apple Watch Series 9 and Apple Watch Ultra 2. Apple's Double Tap feature for the new Apple Watch makes answering calls and other actions easier when only one hand is free.

Persons: Tim Cook, Oscar, we've, Max, they're, There's, Siri, Apple Tim Cook, Octavia Spencer, it's Organizations: Apple, Service, Mars Rover, Pro, Apple Watch Locations: Wall, Silicon

☆ India's Nifty scales new peak; Sensex inches towards record high
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: 1 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Sept 12 (Reuters) - Indian shares opened higher on Tuesday, with the benchmark Nifty 50 hitting a record high for the second consecutive session, ahead of retail inflation data for August. The Nifty 50 (.NSEI) index was up 0.45% at 20,079.50 by 9:16 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.44% to 67,443.08. While the Nifty hit fresh all-time high on Tuesday, the Sensex is about 0.5% shy of the record high hit on July 20. Reporting by Bharath Rajeswaran and Archishma Iyer in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Archishma Iyer, Dhanya Ann Thoppil Organizations: Bombay Stock Exchange, REUTERS, Rights, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ India's policy contradictions are making it harder for investors to crack its market
▼ + stars: | 2023-09-08 | by ( Clement Tan | ) www.cnbc.com time to read: +8 min

At a time when shifting geopolitical alliances are elevating India's strategic importance, such curbs add to the contradictions global investors have to negotiate as they hunt for viable alternatives to a slowing China. They said the move will add to end-product costs for foreign vendors and shift consumer spending toward Indian firms or established foreign vendors with a manufacturing base in India. To attract foreign investors, Modi's government doubled to 170 billion rupees ($2.04 billion) its initial budget in May for a production-linked incentive scheme for IT hardware that was approved in 2021. watch now"India's large and growing domestic market, limited political instability and long-term policy continuity bolsters India's appeal to investors," Dasgupta said. Attracted by such lofty projections, global investors have also poured into Indian equity markets this year.

Persons: Javier Ghersi, Narendra Modi's, There's, Pravin Krishna Johns, it's, Pravin Krishna, Krishna, Rajeev Chandrasekhar, Taiwan's Foxconn, iPhones, Sumedha Dasgupta, Dasgupta, Modi, Goldman Sachs, — Organizations: Apple, Samsung, Dell, Pravin Krishna Johns Hopkins University's School, Johns Hopkins University's School, International, BMI Industry Research, South, BMI, Sumedha Dasgupta Economist Intelligence, Economist Intelligence Unit, CNBC, Bharatiya Janata Party, U.S, The, Monetary Fund, Capital Locations: India, China, Russia, Ukraine, Vietnam

☆ Indian shares open higher on hopes of US rate pause
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: 1 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/file photo Acquire Licensing RightsBENGALURU, Sept 4 (Reuters) - Indian shares opened higher on Monday, after U.S. jobs data raised hopes of a U.S. Federal Reserve rate pause later this month and strong domestic macroeconomic data. The Nifty 50 (.NSEI) index was up 0.34% at 19,504.60 at 9:17 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.30% to 65,573.50. Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Eileen Soreng Organizations: Bombay Stock Exchange, REUTERS, Rights, U.S, Federal, BSE, Thomson Locations: Mumbai, India, Bengaluru

The Nifty 50 (.NSEI) index was up 0.4% at 19,333.85 at 11:47 a.m. IST, while the S&P BSE Sensex (.BSESN) increased 0.33% to 65,043. Foreign inflows moderated to a four-month low of 122.52 billion rupees ($1.48 billion) in August. Hindalco (HALC.NS), Tata Steel (TISC.NS) and JSW Steel (JSTL.NS) were among the top Nifty 50 gainers. The Nifty 50 and Sensex have risen marginally this week so far, including today's gains. Among individual stocks, ITD Cementation (ITCM.NS) surged 11.5% on winning a contract worth 32.90 billion rupees ($397.9 million).

Persons: Francis Mascarenhas, Ghanshyam, ITD, Bharath Rajeswaran, Manvi, Eileen Soreng, Janane Venkatraman, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, Rights, BSE, SAMCO Mutual Fund, Tata Steel, JSW, Investors, Federal Reserve, Thomson Locations: Mumbai, India, China, Manvi Pant, Bengaluru

☆ Indian shares open higher; small- and mid-caps outperform
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: 1 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 31 (Reuters) - Indian shares opened marginally higher on Thursday, led by information technology (IT) stocks, ahead of the gross domestic product (GDP) data for the June quarter. The Nifty 50 (.NSEI) index was up 0.10% at 19,365.80 at 9:17 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.15% to 65,184.65. Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Eileen Soreng Organizations: Bombay Stock Exchange, REUTERS, Rights, BSE, Thomson Locations: Mumbai, India, Bengaluru

[1/2] Mukesh Ambani (R), Chairman and Managing Director of Reliance Industries, poses with (from 2nd R to L) wife Nita Ambani, children Isha Ambani, Anant Ambani, and Akash Ambani before addressing the company's annual general meeting in Mumbai, India July 21, 2017. With Mukesh Ambani in his late 60s, "the time is probably right ... "This is also an attempt by Mukesh Ambani to ensure the next generation of Ambani siblings stay close to one another and do not have any discord." He is already the chairman of Reliance Jio Infocomm Limited, the telecom arm of Reliance. Akash's twin sister Isha is driving the expansion of Reliance Retail into new categories and geographies, and is already a director on the boards of the retail unit, Reliance Retail Ventures, which houses the conglomerate's bets in India's brick-and-mortar and e-commerce industries.

Persons: Mukesh Ambani, Nita Ambani, Isha Ambani, Anant Ambani, Akash Ambani, Shailesh Andrade, Isha, Akash, Ambani, Anant, Arun Dasmahapatra, Dhirubhai Ambani, Mukesh, Anil, Nita, Munsif Vengattil, Aditya Kalra, Tom Hogue, Mark Potter Organizations: Reliance Industries, REUTERS, India's Reliance Industries Ltd, Monday, Reliance, Brown University, Meta, Infocomm, Reliance Retail, Reliance Retail Ventures, Qatar Investment Authority, Investors, giga, Thomson Locations: Mumbai, India, BENGALURU, Jio, Bengaluru

☆ Indian shares open higher ahead of RBI minutes, central bankers' meet
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: 1 min

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 23 (Reuters) - Indian shares opened marginally higher on Wednesday amid muted global market moves, with traders awaiting the Reserve Bank of India's policy meeting minutes and a key global central bankers' gathering. The Nifty 50 (.NSEI) index was up 0.10% at 19,414.20 at 9:15 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.09% to 65,278.01. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Varun Organizations: Bombay Stock Exchange, REUTERS, Rights, Reserve Bank of, BSE, Thomson Locations: Mumbai, India, Bengaluru

Men watch a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, February 1, 2023. REUTERS/Niharika Kulkarni/File Photo Acquire Licensing RightsSummary poll dataBENGALURU, Aug 23 (Reuters) - India stocks will trade only modestly higher at year-end, according to a Reuters poll of equity analysts who said a correction was likely before then, citing tightening global financial conditions as a risk. Driven by positive foreign and domestic investment inflows, the benchmark BSE Sensex Index (.BSESN) touched an all-time high of 67,619.2 on July 20, up around 18% from the year's low of 57,084.9 set only four months earlier. Over 70% of analysts who answered an additional question, 21 of 29, said a correction - a decline of 10% or more - in the Indian equity market was likely by year-end, including five who said it was highly likely. (Other stories from the Reuters global stock markets poll package:)Reporting by Devayani Sathyan and Sujith Pai; Polling by Milounee Purohit, Veronica Khongwir and Anant Chandak; Editing by Jonathan Cable and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Niharika Kulkarni, Rajat Agarwal, Devayani Sathyan, Sujith Pai, Milounee Purohit, Veronica Khongwir, Anant Chandak, Jonathan Cable, Bernadette Baum Organizations: Bombay Stock Exchange, REUTERS, Societe Generale, Thomson Locations: Mumbai, India, Monday's, Asia, U.S

☆ Indian shares open marginally higher; Jio Financial listing eyed
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 21 (Reuters) - Indian shares opened marginally higher on Monday, aided by broad sectoral gains, in contrast to weakness in Asian equities on China's smaller-than-expected rate cut, ahead of Jio Financial Services' listing on stock exchanges. The Nifty 50 (.NSEI) index was up 0.18% at 19,346.50 while the S&P BSE Sensex (.BSESN) rose 0.18% to 65,066.25 at 9:19 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen Soreng and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Eileen Soreng, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, Rights, Jio Financial, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ Indian shares open lower amid risk aversion in global equities
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: 1 min

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 12, 2023. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Aug 17 (Reuters) - Indian shares opened marginally lower on Thursday, tracking weakness in Asian peers on worries over China's economy and Wall Street on interest rate concerns. The Nifty 50 (.NSEI) index was down 0.14% at 19,436.30 while the S&P BSE Sensex (.BSESN) fell 0.15% to 65,439.50 at 9:15 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sohini Goswami and Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Bharath Rajeswaran, Sohini Goswami, Sonia Cheema Organizations: Bombay Stock Exchange, REUTERS, Rights, BSE, Thomson Locations: Mumbai, India, Bengaluru

☆ Indian shares set to open lower; domestic inflation data in focus
▼ + stars: | 2023-08-14 | by ( Manvi Pant | ) www.reuters.com time to read: +2 min

A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas/File PhotoBENGALURU, Aug 14 (Reuters) - Indian shares on Monday are expected to start on a slightly weaker note in the holiday-truncated week as earnings season draws to a close, ahead of domestic retail inflation data due later in the day. India's GIFT Nifty on the NSE International Exchange was down 0.28% at 19,432 at 7.58 a.m. IST. Foreign investors sold shares worth 30.73 billion Indian rupees ($370.80 million) on Friday, according to provisional data from the National Stock Exchange (NSE). ($1 = 82.8740 Indian rupees)Reporting by Manvi Pant in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Manvi, Eileen Soreng Organizations: National Stock Exchange, REUTERS, NSE, Reserve Bank of India's, ITC, Vodafone, BSE, Associates, Deloitte, Natural Gas Corporation, Jindal Steel, Thomson Locations: Mumbai, India, BENGALURU, China, Beijing, Manvi Pant, Bengaluru

☆ Electric vehicle premiums will ride high in India
▼ + stars: | 2023-08-14 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

Mahindra Funster electric concept SUV is on display after it was unveiled at the India Auto Expo 2020 in Greater Noida, India, February 5, 2020. Singapore's Temasek handed Anand Mahindra’s EV business a punchy valuation of up to $9.8 billion this month. The $23 billion Mumbai-listed Mahindra & Mahindra (MAHM.NS) generates most of its top line from its sprawling autos business churning out everything from commercial vehicles to three wheelers. It follows the sale of up to 4.8% to British International Investments, the UK's development finance institution, at a $9.1 billion valuation in July last year. True, Temasek's valuation of the EV business depends on the latter hitting undisclosed milestones.

Persons: Kumar Rakesh, It’s, Maruti Suzuki, Una Galani, Katrina Hamlin Organizations: Mahindra, India, REUTERS, Reuters, Singapore's Temasek, Anand, Temasek, British International Investments, BNP, Tata Motors, TPG, HK, China’s MG Motors, Maruti, India’s, India’s Mahindra, British International Investment, Thomson Locations: Greater Noida, India, BENGALURU, Mumbai, China, EVs, Temasek

☆ Make these 9 top investments in a 'stock-picker's market' as economic growth continues, according to a bear-turned-bull whose hedge fund is up 155% in the last 5 years
▼ + stars: | 2023-08-12 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Standout hedge fund manager Charles Lemonides came into the year careful but is now more optimistic. Heading into 2023, hedge fund manager Charles Lemonides was preparing for the worst. His hedge fund is down 8% in 2023 through May, though it's still up 155% in the past five years. The hedge fund manager said the economy can take another rate hike or two, even though investors may groan about it. The hedge fund manager is currently bullish on energy stocks broadly — particularly those in the oil and gas industry.

Persons: Charles Lemonides, Lemonides, hasn't, it's, We've, he's, Goldman Sachs Organizations: Investors, Federal Reserve, Netflix, Energy, P Oil & Gas Exploration, Production, Unit Corp, United Natural Foods, Yale Materials, Foods Locations: financials

☆ Wall Street says buy the dip on India's Nifty 50 — and Morgan Stanley names its favorite stock
▼ + stars: | 2023-08-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America has revealed its year-end price target for India's Nifty index, forecasting that it will reach 20,500 points by December 2023. The Nifty 50 benchmark index is composed of the market capitalization-weighted average of 50 of the largest Indian companies. The Wall Street bank's price target points towards a 4.5% upside from its current level of 19,625. Bank of America (BofA) said the change in outlook from its U.S. economics team was a key driver behind this prediction. The Wall Street bank said the Indian lender's asset quality remains robust and margins have experienced only minor declines despite higher funding costs.

Persons: Shah, Udit, Nifty's, Patrick Harker, Morgan Stanley's, Morgan Stanley, Sumeet Kariwala, Michael Bloom Organizations: of America, Bank of America, Federal Reserve, Philadelphia Federal, ICICI Bank, New York Stock Exchange Locations: United States, U.S, China

☆ Uday Kotak is wanting for the market’s support
▼ + stars: | 2023-08-09 | by ( Shritama Bose | ) www.reuters.com time to read: +3 min

Uday Kotak plans to remain on the board of the $44 billion lender carrying his name after he steps down as CEO in December. India’s regulator will bear that in mind as it also decides if someone from inside Kotak Mahindra Bank (KTKM.NS) can succeed the 64-year-old. In the past, the regulator has booted out private bank chiefs for poor management of bad loans and overhauled a bank board where it perceived succession planning was poor. Whatever regulators decide for Uday Kotak and his bank, having the market onside will be helpful all around. Follow @ShritamaBose on TwitterCONTEXT NEWSThe Reserve Bank of India is nudging Kotak Mahindra Bank to select someone outside the lender to succeed billionaire founder Uday Kotak as the next CEO, Bloomberg reported on July 31, citing unnamed sources.

Persons: Uday Kotak, Jamie Dimon, Kotak, Jay, Una Galani, Thomas Shum Organizations: Reuters, Kotak Mahindra Bank, Reserve Bank of India, HDFC Bank, ICICI Bank, Kotak, Reuters Graphics, nudging, Mahindra Bank, Bloomberg, Thomson Locations: MUMBAI, Mumbai

☆ Spain Pounces on Switzerland to Grab Quarterfinal Spot
▼ + stars: | 2023-08-05 | by ( Andrew Das | ) www.nytimes.com time to read: +2 min

Image Aitana Bonmatí made it 3-1. Credit... Molly Darlington/ReutersWhen you think about it, even the own goal was impressive. Yes, Spain scored fives times in its 5-1 victory against Switzerland on Saturday to advance to the quarterfinals of the World Cup. OH NO, IT'S AN OWN GOAL FROM SPAIN 🤯 pic.twitter.com/eTfLdXfB1d — FOX Soccer (@FOXSoccer) August 5, 2023 It was a self-inflicted wound, but not a deadly one. Aitana Bonmatí made it 3-1 with some wonderful footwork that left at least two Swiss defenders lying on the grass around her. That project now will continue for at least one more game, and with the players brimming with confidence.

Persons: Aitana Bonmatí, Molly Darlington, Spain, Laia Codina, Codina, ong, egan Organizations: Reuters, Switzerland, ust Locations: Spain

HONG KONG, Aug 2 (Reuters Breakingviews) - Koji Sato enjoyed a smooth ride in his first quarter behind the wheel at Toyota Motor (7203.T). Toyota now trades just shy of 10 times estimated earnings for the next 12 months, per Refinitiv. Those same Chinese brands are encroaching on emerging markets like Thailand, where Toyota has traditionally sold well. Executives told investors on Tuesday that they’re eager to review other investments, too, including cross-holdings in the Toyota group and other assets. Total sales rose by 24% to 10.5 trillion yen in the same period.

Persons: Koji Sato, Sato, Toyota’s, that’s, Encouragingly Sato, Antony Currie, Pranav Kiran Organizations: Reuters, Toyota, Ford, General Motors, Nissan, Thomson Locations: HONG KONG, Asia, China, Thailand

☆ The one thing Elon Musk, Ray Dalio, Apple and Goldman Sachs agree on: India
▼ + stars: | 2023-07-30 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

The nation's booming tech scene, buoyant stock market, and youthful population are just some of the factors going for it. Billionaire investor Ray Dalio has said the country is ready for rapid growth, while Elon Musk has highlighted the prospect of Tesla building a factory there. Apple CEO Tim Cook has also voiced his optimism toward India, while Goldman Sachs predicts the South Asian economy to surpass the US in size by 2075. Goldman Sachs expects the South Asian nation's GDP to surge to $52.5 trillion by then, from $3.4 trillion at the end of 2022. His sanguineness toward India has seen Apple open its first two stores in the country earlier this year.

Persons: Ray Dalio, Elon Musk, Tim Cook, Goldman Sachs, Here's, Tesla, Musk, Narendra Modi, Modi, Dalio, Deng Xiaoping, Mark Mobius, Mobius, —, He's Organizations: Service, Billionaire, Apple, Wall, Elon, Twitter, Reuters, Bridgewater Associates, Bloomberg, Big Tech Locations: India, Wall, Silicon, China, Washington, Beijing

☆ India lets firms list on Modi's flagship finance hub to draw foreign capital
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +1 min

Listed and unlisted companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT), which is Prime Minister Narendra Modi's flagship project. "I'm pleased to announce that the government has taken a decision to enable direct listing of listed and unlisted companies on the IFSC exchanges," Sitharaman said. Indian companies can currently only list on foreign exchanges through instruments such as depository receipts. The government had announced plans in 2020 to allow firms to have their primary listings on foreign exchanges. The government has said companies can use the IFSC route to access similar benefits of foreign capital.

Persons: Nirmala Sitharaman, Narendra Modi's, I'm, Sitharaman, Manch, Aftab Ahmed, Muralikumar Organizations: International Financial Services, Gujarat International Financial Tech City, Singapore, International Exchange, Thomson Locations: DELHI, India, Gujarat, Singapore, City, New Delhi

BENGALURU, July 26 (Reuters) - Indian shares advanced on Wednesday, boosted by gains in index heavyweights Reliance Industries, Larsen & Toubro (L&T) and Tata Motors, ahead of the U.S. Federal Reserve's monetary policy decision. Automaker Tata Motors (TAMO.NS) jumped as much as 4.06% to a record high after reporting a better-than-expected profit in the June quarter and a capital restructuring plan. Index heavyweight L&T (LART.NS) climbed 3.71% to a record high on strong first-quarter results and approval of a share buyback plan. L&T and Tata Motors were the top Nifty 50 gainers. In contrast to Indian equities, Asian peers were subdued ahead of the Fed policy decision, due at 11:30 p.m. IST.

Persons: Toubro, Anita Gandhi, Rahul Sharma, Bharath Rajeswaran, Dhanya Ann Thoppil, Eileen Soreng Organizations: Reliance Industries, Larsen, Tata Motors, U.S, U.S . Federal, BSE, Arihant, Thomson Locations: BENGALURU, U.S ., Qatar, Bengaluru

☆ India's Infosys shares slide after cutting full-year growth outlook
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 21 (Reuters) - Shares of Infosys (INFY.NS), India's second-largest software exporter, fell as much as 9% on Friday, after the company halved its full-year revenue growth outlook and posted a weaker-than-expected first-quarter profit. The company cut its revenue guidance to 1%-3.5% on a constant currency basis from the previous 4%-7%. Infosys Chief Executive Salil Parekh attributed the guidance cut to delays in decision-making by clients. Last week, market leader Tata Consultancy Services (TCS.NS) warned of an uncertain demand environment, while smaller peers HCLTech (HCLT.NS) and Wipro (WIPR.NS) reported and projected muted growth. ($1 = 82.0440 Indian rupees)Reporting by Varun Vyas in Bengaluru; Editing by Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Salil Parekh, Varun Vyas, Sohini Goswami Organizations: Infosys, Tata Consultancy Services, Wipro, Thomson Locations: BENGALURU, 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

Search resuls for: "Nifty"

25 mentions found