The Nepal digest Information about Nepal and India, tibet and more [1/3]Visitors gather at Applied Materials and Micron Technology kiosks before the start of ‘SemiconIndia 2023’, India’s annual semiconductor conference, in Gandhinagar, India, July 25, 2023. REUTERS/Amit Dave GANDHINAGAR, India July 26 (Reuters) – Top executives from Foxconn and semiconductor firms Micron and AMD will this week attend a conference in …
Read More »India’s Mahindra and Mahindra shares slump after RBL Bank stake buy stirs concern
BENGALURU, July 27 (Reuters) – Shares of India’s Mahindra and Mahindra (MAHM.NS) fell nearly 7% on Thursday after the conglomerate’s stake purchase in private lender RBL Bank (RATB.NS) raised concerns about the rationale of its capital allocation strategy. Analysts at Macquarie said that the investment and Mahindra’s intention to invest …
Read More »Foxconn unit in talks for $200 mln components plant in India’s Tamil Nadu -sources
CHENNAI, India, July 26 (Reuters) – A Foxconn (2317.TW) subsidiary is in talks with India’s Tamil Nadu state to invest up to $200 million to build a new plant for electronic components in the southern region, two sources with direct knowledge told Reuters on Wednesday. Brand Cheng, CEO of Foxconn …
Read More »India’s Tech Mahindra’s shares hit over 1-mth low on Q1 profit fall
BENGALURU, July 27 (Reuters) – Shares of India’s Tech Mahindra (TEML.NS) fell as much as 5.3% on Thursday, their lowest since June 19, a day after the IT services firm posted a surprise drop in quarterly profit as challenging macroeconomic conditions forced clients to curb spending. Tech Mahindra on Wednesday …
Read More »Indian shares rise as Fed sticks to script
BENGALURU, July 27 (Reuters) – Indian shares gained on Thursday after the U.S. Federal Reserve stuck to script with a 25 basis-point rate hike and said it is no longer forecasting a recession, with pharma and metal stocks getting a further boost from strong quarterly results. The Nifty 50 (.NSEI) …
Read More »India’s offer to privatise rocket has 20 potential bidders
BENGALURU, July 27 (Reuters) – The Indian government’s effort to privatise part of its space programme by opening bids to build its small satellite launch rocket has attracted initial interest from 20 companies, an official overseeing the process told Reuters. India’s Small Satellite Launch Vehicle (SSLV) was developed by the …
Read More »India’s Adani-owned NDTV posts Q1 loss amid weak advertising demand
BENGALURU, July 27 (Reuters) – New Delhi Television Ltd (NDTV) (NDTV.NS), part of the Adani Group, posted a loss for the first quarter on Thursday, as Indian broadcasters remain pressured by a weak advertising environment. NDTV reported a consolidated net loss of 81.3 million rupees ($991,568.62) for the quarter ended …
Read More »India asking for renegotiation of FTAs with Japan, S.Korea -trade minister
NEW DELHI, July 27 (Reuters) – India has asked Japan and South Korea to renegotiate their free-trade agreements (FTAs) with the South Asian nation to make it “more balanced and equitable”, India’s trade minister said on Thursday, amid a widening trade gap with the countries. “Japan and Korea – we …
Read More »India’s BPCL still in talks for Russian oil deal, discounts narrow
NEW DELHI, July 27 (Reuters) – Indian refiner Bharat Petroleum Corp (BPCL.NS) is still in talks with Russian oil major Rosneft (ROSN.MM) to buy oil under a term deal, its head of finance said, adding that discounts on Russian oil are narrowing. “Yes, there were discussions happening with Rosneft but …
Read More »McDonald’s India franchisee Westlife’s profit misses as costs mount
BENGALURU/CHENNAI, July 27 (Reuters) – Westlife Foodworld (WEST.NS) reported a smaller-than-expected rise in first-quarter profit on Thursday as higher expenses took the shine off increased sales at the operator of McDonald’s (MCD.N) restaurants in West and South India. The franchisee for the U.S. fast-food chain said consolidated net profit after …
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