Reuters India Business

MOSCOW (Reuters) – India bought about 40% of all Urals seaborne export volumes loading in November, outperforming other states as buyers, Reuters calculations based on Refinitiv and traders’ data showed on Monday. Russian Urals oil shipments to India accounted for about 40% of the total sea exports of Urals in November, not including the transit …

India purchased 40% of seaborne Russian Urals oil in Nov. -Refinitiv data, traders Read More »

By Abhirup Roy and Shilpa Jamkhandikar MUMBAI (Reuters) – Ingka Group, the owner of most IKEA furniture stores, is planning additional price cuts as some input costs ease, its retail manager told Reuters on Monday, a reversal from price hikes introduced last year to counter soaring inflation. The world’s biggest furniture retailer raised prices in …

IKEA store owner eyes more price cuts as some input costs ease Read More »

BENGALURU (Reuters) -New Delhi Television Ltd (NDTV) said on Monday an entity backed by its founders had issued shares to a unit of Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the media firm. The transfer of shares will give Adani control over a 29.18% stake in the news …

Adani closes in on India’s NDTV takeover as founder entity transfers shares Read More »

By Nupur Anand and Aditi Shah MUMBAI (Reuters) -Jet Airways’ creditors and its new owners are deadlocked over a resolution plan to lift the Indian airline out of bankruptcy, putting its future in limbo, four sources said. Creditors may approach India’s aviation ministry to seek approval to liquidate Jet’s assets if there is no resolution …

Jet Airways creditors at odds with owners over recovery plan -sources Read More »

BENGALURU (Reuters) – India’s Sensex stock index may hit 80,000 by the end of next year if the country is included in global bond indexes and prices of commodities such as oil and fertilizers drop sharply, Morgan Stanley analysts said. The inclusion could result in nearly $20 billion of inflows over the subsequent 12 months, …

Sensex may hit 80,000 if India included in global bond indexes -Morgan Stanley Read More »

BENGALURU (Reuters) – Loan growth at Indian banks will accelerate to 13% in this fiscal year despite the RBI raising interest rates, as economic activity picks up after a pandemic led lull, Fitch Ratings said on Monday. Lending growth for the previous fiscal year stood at 11.5%. The Reserve Bank of India has raised interest …

Indian banks’ loan growth to accelerate despite higher interest rates -Fitch Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was marginally weaker against the U.S. currency on Monday, but did well relative to other Asian currencies, thanks to a near-term support level, traders said. The rupee was trading at 81.71 per U.S. dollar by 0500 GMT, a tad weaker than 81.6850 in the previous session. …

Rupee dips less than peers on support at 81.80-81.85/USD Read More »

By Stephanie Kelly, Muyu Xu and Alex Lawler NEW YORK (Reuters) – The global oil market is signaling a potential shift, as traders and analysts worry about reduced crude demand and an oversupplied market in the coming months. After months of strength, crude futures are flirting with lows not seen all year as top oil …

Global oil market signals short-term weakness ahead of EU ban on Russian oil Read More »