Peugeot returns to India through CK Birla venture - Les Echos
PARIS French carmaker PSA Group will announce a return to India this week through a manufacturing venture with New Delhi-based CK Birla Group, Les Echos reported on Monday.
MUMBAI Pantaloon Retail Ltd PART.NS gained as much as 13.8 percent after the RBI eased restrictions on the purchase of shares in the company by foreign institutional investors and by non-resident Indians as well as persons of Indian origin.
The Reserve Bank of India took the measures after the aggregate shareholding held by these categories of investors fell below the threshold limit under the Foreign Direct Investment Scheme, meaning these investors can now buy into Pantaloon shares.
Pantaloon Retail India Ltd PART.NS shares were up 12.82 percent as of 12:44 a.m.
(Reporting by Abhishek Vishnoi and Suvashree Dey Choudhury; Editing by Anand Basu)
ZURICH Swiss Re has obtained regulatory approval to open a branch in India, the world's second largest reinsurer said on Monday, part of the Swiss company's growth aspirations in the world's second most populous country.
MUMBAI Cotton supplies in Indian spot markets fell 15.9 percent from a year earlier to 10.8 million bales between October and December as government's move to scrap high-value currency notes disrupted trading, a leading trade body said on Monday.