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REUTERS/Anushree Fadnavis/File PhotoBENGALURU, July 20 (Reuters) - Jio Financial Services (JFS) has been valued at around $20 billion after its stock price was set at a much higher-than-expected 261.85 rupees ($3.19) in its demerger from Indian billionaire Mukesh Ambani's Reliance Industries (RELI.NS). At a $20 billion valuation, Jio Financial would be one of the top 40 Indian companies by market capitalisation, in a list headed by Reliance at $233 billion. The price was determined as 261.85 rupees, or the difference between 2,841.85 rupees, Reliance's closing price on Wednesday, and 2,580 rupees, its price at the end of the special session. JFS's stock price is higher than analysts' estimate of 160 rupees to 190 rupees. Reliance Strategic Investments, the unit to be renamed JFS, late on Wednesday reported a net profit after tax of 1.45 billion rupees ($17.7 million) for April-June based on revenue of 2.15 billion rupees.

Persons: Anushree, Mukesh, Chokkalingam, JFS, Ira Dugal, Savio Shetty, Savio D'Souza, Jamie Freed Organizations: Mobile, REUTERS, Jio Financial, Reliance Industries, Reliance, Macquarie Research, AAA, Reliance Strategic Investments, Thomson Locations: Pragati, New Delhi, India, BENGALURU

☆ Indian shares pare early gains as IT stocks reverse course
▼ + stars: | 2023-07-19 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

REUTERS/Niharika Kulkarni/File photoBENGALURU, July 19 (Reuters) - Indian shares trimmed gains on Wednesday, as information technology stocks reversed early gains and offset the broad sectoral rise, ahead of the June-quarter earnings of top companies. The Nifty 50 (.NSEI) index rose 0.18% to 19,784.25, with the S&P BSE Sensex (.BSESN) in toe at 66,921.20, as of 12:56 p.m. IST. High-weightage IT stocks (.NIFTYIT) erased 0.5% gains and are on course to snap a four-day winning streak. Among individual stocks, NTPC (NTPC.NS) rose over 4%, topping the Nifty 50 after brokerage Goldman Sachs identified it as the top pick in the power sector. Several other Nifty 50 constituents, including Infosys (INFY.NS), Ultratech Cement (ULTC.NS), Reliance Industries (RELI.NS), and ICICI Bank (ICBK.NS) will report their quarterly earnings later this week.

Persons: Niharika Kulkarni, Narendra Solanki, Anand, Goldman Sachs, Bharath Rajeswaran, Sonia Cheema, Dhanya Ann Thoppil Organizations: Bombay Stock Exchange, REUTERS, BSE, TV18, U.S . Federal Reserve, Investment Services, IndusInd Bank, Hindustan Unilever, Infosys, Ultratech, Reliance Industries, ICICI Bank, Thomson Locations: Mumbai, BENGALURU, U.S, Europe, Bengaluru

☆ Reliance - Jio Financial Services demerger: what you need to know
▼ + stars: | 2023-07-19 | by ( Chris Thomas | ) www.reuters.com time to read: +3 min

Five analysts estimate that Reliance's Jio Financial Services will be valued at 160-190 rupees per share. However, Jio Financial Services' stock will be included in the indexes, including the blue-chip Nifty 50 (.NSEI), but will not trade until it is listed. Jio Financial Services' listing date is widely expected to be announced at Reliance's forthcoming annual general meeting. THE DEMERGERReliance announced last October that it would demerge and list its financial services business - Reliance Strategic Investments - which will be renamed Jio Financial Services (JFS). Reliance shareholders would get one share of Jio Financial Services for holding one share of Reliance.

Persons: Mukesh, Hitesh Sethia, Chris Thomas, Anil D'Silva Organizations: Reliance Industries, Jio Financial, Reliance, National Stock Exchange, Bombay, Exchange, Jio Financial Services, NSE, DEMERGER Reliance, Reliance Strategic Investments, Kamath, ICICI Bank, Macquarie Research, AAA, Thomson Locations: BENGALURU, Bengaluru

☆ Indian shares hit fresh record highs as earnings season kicks off
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, July 17 (Reuters) - Indian shares opened higher to hit fresh all-time highs, aided by broad sectoral gains as earnings began trickling in, shrugging off weakness in Asian markets on lacklustre economic data from China. The Nifty 50 (.NSEI) index rose as much as 0.24% to 19,612.15, while the S&P BSE Sensex (.BSESN) gained 0.19% to 66,189.50, as of 9:19 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Dhanya Ann Thoppil Organizations: BSE, Thomson Locations: BENGALURU, China, Bengaluru

☆ ‘Bird Box Barcelona’ Review: Blind Faith
▼ + stars: | 2023-07-13 | by ( Jeannette Catsoulis | ) www.nytimes.com time to read: +1 min

In the mildly entertaining Sandra Bullock vehicle, “Bird Box,” alien invaders were presumed so fearsome to behold that all who gazed upon them immediately offed themselves. Possibly to save audiences from a similar fate, we were never permitted to see these terrors, leaving us as sightless as the movie’s scrabbling survivors. Transplanting the basic premise to Spain, the directors Àlex Pastor and David Pastor have come up with a spinoff feature, “Bird Box Barcelona,” minus Bullock but with the addition of a rather nifty — and depressingly credible — faith-based twist. Nine months after the aliens’ arrival, an engineer named Sebastián (Mario Casas) and his young daughter (Alejandra Howard) are searching for survivors in a city where the remaining humans are as feared as the invaders. Yet as Sebastián gains the trust of successive ragtag groups, he soon reveals a purpose that’s far more terrifying than robbery.

Persons: Sandra Bullock, Àlex, David Pastor, Bullock, Mario Casas, Alejandra Howard Locations: Spain

☆ India's Angel One Q1 profit rises 22% as orders surge
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 13 (Reuters) - Indian stockbroker Angel One Ltd (ANGO.NS) said on Thursday its first-quarter profit jumped almost 22%, led by surging client additions and orders. Consolidated profit was 2.21 billion rupees ($27 million) for the quarter ended June 30, compared with 1.82 billion rupees a year ago. Total revenue from operations climbed nearly 18% to 8.08 billion rupees. The company, which offers various trading apps, said its total client base rose about 45% to 15.1 million, while the total number of orders advanced more than 20%. Angel One held a 12.5% share in the number of demat accounts in India in the June quarter, up from 10.8% last year.

Persons: Angel, Manvi Pant, Kashish Tandon, Dhanya Ann Thoppil Organizations: Angel One, Consolidated, NSE, BSE, Angel, Thomson Locations: BENGALURU, India, Bengaluru

Amazon Prime Day has been piling on great deals, including big discounts on phones. Below, we've compiled all of the best Prime Day phone deals so far. For more deals, check out our live blog, where we're tracking the best Prime Day deals across a range of categories. Best Prime Day Samsung Galaxy phone dealsDeal icon An icon in the shape of a lightning bolt. If you're looking for a new Android phone, Prime Day has great deals on some popular phones.

Persons: we've, It's, it's Organizations: Amazon, Samsung, Google, Apple, Samsung Galaxy, Deal Samsung, Deal Samsung Galaxy, Galaxy, Qualcomm, Prime, Motorola

☆ Tubi Is Rewriting the Rules of Black Indie Movies (for Free)
▼ + stars: | 2023-07-12 | by ( Nicolas Rapold | ) www.nytimes.com time to read: +1 min

Over the past few years, Tubi has quietly amassed a thriving collection of Black-led independent movies. “Cinnamon” is the first Tubi premiere under the banner Black Noir Cinema, an initiative led by Village Roadshow Pictures. It’s a nifty standard-bearer: a gas station attendant and aspiring singer, Jodi (Hailey Kilgore), and a pickpocket, Eddie (David Iacono), team up for an inside job. The robbery becomes a self-own when someone from a local crime family — led by Pam Grier — gets killed in the process. They lean hard on the gas station owner, Wally (Damon Wayans), and then zero in on Jodi and Eddie.

Persons: Tubi, Jodi, Hailey Kilgore, Eddie, David Iacono, —, Pam Grier —, Damon Wayans, Bryian Keith Montgomery Jr, doesn’t, there’s, huckster, Wally Organizations: Village Roadshow Pictures

☆ Indian shares open lower as US jobs data fuels rate concerns
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, July 7 (Reuters) - Indian shares opened lower on Friday, tracking weakness in global peers, after data indicating strength in the U.S. labour market fuelled concerns of further monetary policy tightening by the Federal Reserve. The Nifty 50 (.NSEI) index was down 0.32% at 19,435.30, while the S&P BSE Sensex (.BSESN) fell 0.25% to 65,623.40, as of 9:15 a.m. IST. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Varun Organizations: Federal Reserve, BSE, Thomson Locations: BENGALURU, U.S, Bengaluru

☆ India's Jio set to sign $1.7 bln deal with Nokia for 5G equipment - Economic Times
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 6 (Reuters) - India's Reliance Jio Infocomm is likely to sign a contract worth $1.7 billion with Nokia (NOKIA.HE) this week to purchase 5G network equipment, the Economic Times reported on Thursday, citing people aware of the matter. The contract could be signed as early as Thursday in Helsinki, Finland, where Nokia is headquartered, the report added. Jio and Nokia did not immediately respond to Reuters' requests for a comment. Jio snapped up airwaves worth $11 billion in a 5G spectrum auction last August and had launched 5G services in several cities. Swedish telecommunication company Ericsson (ERICb.ST) had in October last year, announced a partnership with Jio to build a 5G standalone network in India.

Persons: Jio, JP Morgan, Finnvera, Varun Vyas, Rashmi Aich Organizations: Nokia, Economic Times, Reliance Industries, Google, HSBC, Citigroup, Ericsson, Thomson Locations: BENGALURU, Helsinki, Finland, India, Swedish, Bengaluru

☆ Indian shares hit record highs on positive global cues
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, July 3 (Reuters) - Indian shares opened higher on Monday, with the benchmarks surging to fresh record highs for the third consecutive session, as sentiment improved on signs of moderating inflation in the United States. The Nifty (.NSEI) index rose as much as 0.43% to a new all-time high of 19,271.45. The S&P BSE Sensex (.BSESN) also rose 0.41% to 64,9580.83, as of 9:17 a.m. IST. The Nifty Auto index (.NIFTYAUTO) rose 0.33% to a record high while high weightage bank index (.NSEBANK) also hit a new all-time high. ($1 = 82.0355 Indian Rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H K and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Varun Organizations: BSE, Thomson Locations: BENGALURU, United States, Bengaluru

☆ Goldman strategist says one country offers the 'most fertile ground for picking stocks' and shares his favorites
▼ + stars: | 2023-07-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

That's despite Indian stocks already soaring, with the country's benchmark indexes BSE Sensex and Nifty 50 soaring to new record highs on Friday, according to Refinitiv data. He said that Indian stocks have a 16% compound annual return over the last 20 years in local currency terms, and 13% in dollar terms. It also has a high proportion of what Goldman analysts dub "multibagger" stocks, according to Koul. Goldman Sach screened 25 large-cap Indian stocks for those with an attractive growth and valuation profile. Four banks meet its criteria: HDFC Bank , ICICI Bank , State Bank of India and Kotak Mahindra Bank.

Persons: Goldman Sachs, Sunil Koul, CNBC's, Koul, That's, Goldman, Banks, Goldman Sach, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Asia Pacific, CNBC, HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, U.S . Global, SBI, UltraTech, Growers Locations: India, U.S

☆ Let's set the table for the second half by reflecting on this year's hated bull market
▼ + stars: | 2023-07-02 | by ( Jim Cramer | ) www.cnbc.com time to read: +18 min

You don't get the best first-half Nasdaq rally in 40 years simply because the Federal Reserve did this, or the yield curve in the bond market did that. It was almost as if it was prosaic to seek profits, like, "How dare you defy the teachings of the yield curve, you foolish soon-to-be- broke apostate." It was the second move, the second week of March, that told the second tale of the first half: the fall of Silicon Valley Bank. Here we had an out-of-nowhere collapse of a well-known seemingly well-run bank that ran afoul, again, of the yield curve. No company could rival Club stocks Apple (AAPL), Alphabet (GOOGL), Amazon (AMZN), Microsoft and Meta Platforms (META) — nice metamorphous there and Tesla , not a Club name.

Persons: William Jennings Bryan, Gandhi, Bud, Altman, Sam Altman, Jensen Huang, Jensen, mutt, Cezanne, Monet, Shakespeare's Henry IV, Carl Quintanilla, David Faber, da, Lisa's, Wendy's, Scylla, Charybdis, ChatGPT, haut, Morgan Stanley's Mike Wilson, aren't, They've, isn't, Goldman Sachs, Tesla, Didn't, Freddie, Lehman, Jerome Powell, We've, it's, Eli Lilly, Jim Cramer's, Jim Cramer, Jim, Mad Organizations: Nasdaq, Federal Reserve, Intel, The New York Times, Veterans, Club, Microsoft, Nvidia, Globe Theatre, Silicon Valley Bank, Fed, Apple, Meta, RCA, US Steel, Washington Mutual, AIG, IBM, Jim Cramer's Charitable, CNBC, NYSE Locations: America, Philadelphia, OpenAI, Oz, Queens, mull, Ithaca, Weimar, Silicon, Republic, Valley, Delray , Florida, Alleghany, China

☆ A fund manager who's beaten 99% of his peers over the last 5 years warns stocks face 'destruction' as hype around AI stocks lifts valuations to dot-com-bubble levels
▼ + stars: | 2023-07-01 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 is back within an earshot of its January 2021 all-time high as it rides what is now a 24% upward charge back into bull-market territory. And the founder of Smead Capital Management is betting his strategy work for him again when the hype around artificial-intelligence stocks sputters out. Smead Capital ManagementThat means bad news for the broader index when the episode is over, he said. Smead Capital ManagementSecond, the top seven stocks in the S&P 500 have a collective price-to-free cash-flow ratio near 70. Smead Capital ManagementAnd third, the tech sector of the S&P 500 is hitting valuation levels last seen during the dot-com bubble.

Persons: Bill Smead, you've, Smead, Mike Wilson, Morgan Stanley, José Torres Organizations: Morningstar, Smead Capital Management, Apple, Microsoft, Meta, Nvidia, RCA, Smead, Management, Interactive Brokers, Reserve

☆ IT, auto stocks help Indian shares hit new highs
▼ + stars: | 2023-06-30 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, June 30 (Reuters) - Information technology (IT) and auto stocks helped India's benchmark indexes hit fresh record highs on Friday, after robust economic data from the United States eased fears of a slowdown and improved broader sentiment. Reuters GraphicsThe Nifty 50 (.NSEI) rose as much as 1.21% to hit an all-time high of 19,201.70, before closing at 19,189.05. The S&P BSE Sensex (.BSESN) also gained 1.26% to settle at a fresh record of 64,718.56. The Nifty 50 (.NSEI) has risen over 10.5% in the three months ended June 30, its best performance since the September quarter of 2021. Midcaps (.NIFMDCP100) also hit a fresh record while smallcaps (.NIFSMCP100) hovered around their 52-week high.

Persons: Deepak Jasani, MotoCorp, Maruti Suzuki, Bharath Rajeswaran, Dhanya Ann Thoppil Organizations: Reuters, BSE, HDFC Securities, Auto, Mahindra, Maruti, Infosys, Thomson Locations: BENGALURU, United States, Bengaluru

☆ HDFC to merge into HDFC Bank on July 1, create India’s financial behemoth
▼ + stars: | 2023-06-30 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

Both the companies have set July 13 as the "record date" to swap HDFC's shares with HDFC Bank's stock for its shareholders, HDFC and HDFC Bank said in separate exchange filings on Friday. With the share swap, HDFC Bank will become one of the world's top 10 banks in terms of market capitalisation, as per Refinitiv data. After the merger, HDFC Bank has no identified promoter. With the merger, HDFC Bank's total loan book will be over 22 trillion rupees, behind only that of State Bank of India (SBI.NS), the country’s largest lender. Both the entities have set July 12 as a record date for transfer of non-convertible debentures of HDFC in the name of HDFC Bank.

Persons: Sashidhar Jagdishan, HDFC's Keki Mistry, Siddhi Nayak, Jose Joseph, Shilpi Majumdar, Maju Samuel Organizations: Housing Development Finance Corp, HDFC Bank, HDFC, State Bank of India, Reuters, Siddhi, Thomson Locations: Renu, India, HDFC

☆ India’s stock market is hitting record highs. Here’s why
▼ + stars: | 2023-06-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —India’s stock market is booming as investors take a chance on one of the few bright spots in a fragile global economy. The country’s stocks are so hot that India is now home to the world’s fourth most valuable equity market, behind only the United States, China and Japan. The total value of Indian equities has hit $3.5 trillion, greater than the value of Europe’s two biggest stock markets, in the UK and France, according to data from Refinitiv. Bright prospectsThe surge in Indian equities is a reflection of the strength and potential of the country’s economy, according to economists and fund managers. “The Indian equity market is the classic example of ‘expensive for a reason’,” he said.

Persons: ” Sher Mehta, ” Mehta, Sohini Kar, India Ashish Vaishnav, Pieter Elbers, Narendra Modi, Joe Biden, Apple, Lorenzo La, ”, Posta, La Posta, Gautam Adani Organizations: London CNN, United Kingdom’s FTSE, CAC, Virtuoso Economics, CNN, Monetary Fund, India, London School of Economics, Airbus, ”, Apple, Momentum Global Investment Management Locations: India, United States, China, Japan, Russia, Europe, France, Refinitiv, Mumbai, Washington, Germany

☆ NASA runs a tiny, isolated cabin that simulates a year of life on Mars, and for some reason, they put a book about the psychological horrors of cave exploration in it
▼ + stars: | 2023-06-27 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +4 min

What book would you pack if you were isolated in a Mars habitat with three other people for 378 days? The book includes descriptions of "psychological horrors produced by weeks in absolute darkness." Photographed in the Mars Dune Alpha's capsule library was a book titled "Blind Descent: The Quest to Discover the Deepest Cave on Earth," a novel by James Tabor. The living room/dining area inside of CHAPEA's Mars Dune Alpha at the Johnson Space center in Houston, Texas. "Ultimately, this information will help NASA make informed decisions to design and plan for a successful human mission to Mars," Douglas added.

Persons: —, it's, Kelly Haston, Nathan Jones, Ross Brockwell —, James Tabor ., Tabor, Bill Stone, Alexander Klimchouk, who've, Jay C, Patrick Lencioni, MARK FELIX, Grace Douglas, Douglas Organizations: NASA, Service, Johnson Space Center, Crew Health, Publishers, Getty Locations: Houston , Texas, Mars, AFP

☆ India's Infosys signs $454-mln deal with Danske Bank
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, June 26 (Reuters) - Infosys (INFY.NS), India's No.2 IT services provider, signed a $454-million contract with Denmark's Danske Bank on Monday, at a time when the broader sector is struggling with a slowdown in an uncertain global economy. The IT company will help digitize the lender's core business and add more cloud and data facilities to it, including Infosys acquiring Danske Bank's IT centre in India, it said in a regulatory filing. The contract is for five years, with an option to renew for one more year for a maximum of three times. Bengaluru-based Infosys' contract comes days after Mumbai-based bigger rival TCS signed a deal worth 840 million pounds with British pension scheme Nest, for an starting tenure of 10 years. "Despite a strengthened order pipeline, the effects of this deal might be offset by macro factors such as inflation and increased labour costs," Akshara Bassi, an analyst at Counterpoint Research, said on the Danske Bank deal.

Persons: Akshara Bassi, Navamya Ganesh Acharya, Varun, Sohini Goswami, Nivedita Organizations: Infosys, Denmark's Danske Bank, Danske Bank's, TCS, Counterpoint Research, Danske Bank, Varun Vyas, Thomson Locations: BENGALURU, India, Bengaluru, Mumbai

☆ Indian shares set for muted start to week after Russia turmoil
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, June 26 (Reuters) - Indian shares were set for a muted open on Monday, on the heels of their first weekly loss in over a month, as crude prices rose on supply concerns after a short-lived mutiny by mercenaries in Russia. Foreign institutional investors sold a net 3.45 billion rupees ($42.1 million) worth of Indian equities on Friday, while domestic investors sold 6.84 billion rupees of shares, as per provisional NSE data. STOCKS TO WATCH:** ICICI Bank (ICBK.NS), ICICI Securities (ICCI.NS): Boards of the companies to consider delisting of ICICI Securities shares on June 29. ** HDFC Life Insurance Company: India's insurance regulator granted approval for transfer of its shares from HDFC Ltd (HDFC.NS) to HDFC Bank (HDBK.NS). ** Shree Cement (SHCM.NS): NDTV reported that tax evasion to the tune of 230 billion rupees ($2.80 billion) has been found in tax searches at multiple locations of Shree Cement in Rajasthan.

Persons: Wagner, Brent, Chris Thomas, Biplob Kumar Das, Eileen Soreng Organizations: Singapore Exchange, BSE, ICICI Bank, ICICI Securities, Life Insurance, HDFC Ltd, HDFC Bank, Ipca, U.S, FDA, of Maharashtra, Axis Bank, Kashmir Bank, NDTV, Shree, Thomson Locations: BENGALURU, Russia, Russian, Moscow, Asia, India, Pithampur, Jammu, Kashmir, Shree Cement, Rajasthan, Bengaluru

☆ Rupee likely higher on dollar decline post Powell's testimony
▼ + stars: | 2023-06-22 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, June 22 (Reuters) - The Indian rupee is expected to rise on Thursday, helped by the dollar's fall despite Federal Reserve Chair Jerome Powell's fairly hawkish comments to U.S. lawmakers. Non-deliverable forwards indicate rupee will open at around 81.94-81.98 to the U.S. dollar compared with 82.0375 in the previous session. The offshore Chinese yuan recovered to 7.1690 to the dollar, having fallen below 7.20 at one point in the previous session. KEY INDICATORS:** One-month non-deliverable rupee forward at 82.03; onshore one-month forward premium at 7 paisa** USD/INR NSE June futures settled on Wednesday at 82.0250** USD/INR forward premium as of Jun. 20** NSDL data shows foreign investors sold a net $46.5mln worth of Indian bonds on Jun.

Persons: Jerome Powell's, Powell, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S, Fargo Advisors, U.S . Senate, DBS, Brent, Thomson Locations: MUMBAI, Asia

☆ Indian rupee to nudge higher at open, avoiding losses in Asian peers
▼ + stars: | 2023-06-21 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, June 21 (Reuters) - The Indian rupee is likely to open slightly higher to the U.S. dollar on Wednesday, shrugging off a decline in other Asian currencies. Non-deliverable forwards (NDF) indicate the rupee will open at 82.06-82.08, up slightly from 82.1175 in the previous session. The USD/INR NDF has not reacted to another round of losses for the Chinese yuan and the move higher on USD/Asia overall, a forex trader at a private bank said. The offshore Chinese yuan dropped below 7.20 to the dollar, the lowest since November 2022. The offshore Chinese yuan has lost 1% this month to add to the 3% decline in May.

Persons: shrugging, Jerome Powell's, Powell, Nimesh Vora, Sonia Cheema Organizations: U.S, NDF, Korean, U.S . Federal, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S

☆ India's TCS signs $1.1 bln contract with UK's Nest
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, June 21 (Reuters) - India's top IT services provider Tata Consultancy Services (TCS.NS) said on Wednesday that it has signed a new contract worth 840 million pounds ($1.1 billion) with British pension scheme Nest for an initial tenure of 10 years. The contract, to help Nest transform its administration services, if extended to the entirety of its 18-year tenure would be worth 1.5 billion pounds, TCS said in a statement. The deal comes at a time when Indian IT services companies are facing demand challenges in their key markets, the United States and Europe, where clients have cut spends amid worries about recession. TCS and Nest have been working together since 2011. Last week, TCS mutually terminated a $2 billion contract with insurance provider Transamerica, citing reasons that include a challenging macro environment.

Persons: Shailesh Organizations: Tata Consultancy Services, TCS, Indian, Investors, Sethuraman NR, Thomson Locations: BENGALURU, United States, Europe, Bengaluru

☆ The $24,000 Hyundai Santa Cruz is a truck that feels like an SUV. It's also the perfect adventure vehicle.
▼ + stars: | 2023-06-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

The 2022 Hyundai Santa Cruz. The 2022 Hyundai Santa Cruz. The 2022 Hyundai Santa Cruz. The 2022 Hyundai Santa Cruz. The 2022 Hyundai Santa Cruz.

Persons: Santa Cruz, Tim Levin, Ford, that's, Ford's, I'd, It's, Apple, it's, I'm Organizations: Santa Cruz, Hyundai, Sporting, Toyota, Ford, Santa Cruz's, Subaru Locations: Santa, Santa Cruz, clothe, Toyota Tacoma

☆ Indian shares open lower ahead of Powell testimony
▼ + stars: | 2023-06-20 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: 1 min

BENGALURU, June 20 (Reuters) - India's Nifty 50 and Sensex stock indexes opened lower on Tuesday, tracking Asian peers, as caution prevailed across global equities a day ahead of U.S. Federal Reserve Chair Jerome Powell's congressional testimony. The blue-chip Nifty (.NSEI) index fell 0.10% to 18,739.10 as of 9:16 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) lost 0.07% to 63,123.17. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome, Bharath Rajeswaran, Sonia Cheema Organizations: U.S . Federal, BSE, Thomson Locations: BENGALURU, U.S, Bengaluru

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