Reuters India Business

BENGALURU (Reuters) – U.S.-listed Cummins Inc said on Monday it has signed an agreement with Indian automaker Tata Motors to develop hydrogen-powered internal combustion engines, fuel cells and battery electric vehicle systems for commercial automobiles in India. Several automakers, including Tata Motors, are aggressively shifting towards greener forms of energy for their vehicles as they …

Cummins, Tata Motors team up for hydrogen-powered engines Read More »

By Mayank Bhardwaj NEW DELHI (Reuters) – Indian wheat stocks held in government warehouses were half the level of a year ago on Nov. 1, government data showed on Monday, but inventories were marginally higher than the official target. Wheat reserves in state stores totalled 21 million tonnes at the start of this month, down …

India’s state wheat stock halves from a year ago Read More »

By Manoj Kumar NEW DELHI (Reuters) – India’s annual retail inflation eased to a three-month low of 6.77% in October, helped by a slower rise in food prices and a higher base effect, strengthening bets of smaller rate hikes by the country’s central bank at its meeting next month. The October reading was higher than …

India’s Oct retail inflation eases, spurs smaller rate hike views Read More »

(Reuters) – Russia has allowed India’s Oil and Natural Gas Corp and Japan’s Sakhalin Oil and Gas Development Co (SODECO) to keep their stakes in the new Russian operator of the Sakhalin-1, Russian news agency Interfax reported, citing governmental documents. SODECO would keep its 30% stake and ONGC would retain another 20%, as before, Interfax …

Russia allows SODECO, ONGC to keep their stakes in Sakhalin-1 project -Ifax Read More »

BENGALURU (Reuters) -India’s SpiceJet Ltd on Monday reported a bigger quarterly loss as the embattled low-cost carrier wrestled with a surge in fuel costs and a depreciating rupee. Losses widened to 8.38 billion Indian rupees ($103.25 million) for the three months ended Sept. 30, from 5.62 billion rupees a year earlier, the airline said in …

India’s SpiceJet quarterly loss widens as fuel costs soar Read More »

NEW DELHI (Reuters) – India’s annual wholesale price-based inflation (WPI) eased in October to 8.39% year-on-year, the lowest since March 2021, helped by a fall in commodity prices, government data showed on Monday. The October WPI inflation was lower than the Reuters forecast of 8.70% and 10.70% recorded in the previous month. (Reporting by Manoj …

India’s October WPI inflation eases to 8.39% y/y Read More »

BENGALURU (Reuters) -Shares of Life Insurance Corporation of India rose as much as 9.1% on Monday, their best intra-day percentage gain since listing, after the country’s largest insurer reported a surge in quarterly profit on Friday. LIC’s profit after tax surged to 159.52 billion Indian rupees ($1.98 billion) in the July-September quarter, from 14.34 billion …

India’s LIC jumps most since listing after profit surge Read More »

By Praveen Paramasivam BENGALURU (Reuters) -Indian shares were little changed on Monday as investors awaited domestic inflation data, due later in the day, for clues on the central bank’s interest rate trajectory, while the corporate earnings season draws close. The NSE Nifty 50 index was up 0.09% at 18366.65 as of 0521 GMT, while the S&P …

Indian shares steady ahead of inflation data, earnings barrage Read More »

BENGALURU (Reuters) -Asset manager Kalrock Capital Partners said on Monday that probes into its investor Florian Fritsch have no impact on its acquisition of Indian airline Jet Airways. Fritsch is assisting in investigations by regulatory agencies in Liechtenstein, Switzerland, and Austria. The probes are based on anonymous complaints filed in relation to certain businesses where …

Kalrock says probes into investor Fritsch have no impact on Jet Airways deal Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was trading lower against the U.S. currency on Monday, unable to hold on to its advance at the open, as importers and speculators scooped up dollars. The rupee was at 81.0825 to the dollar by 0506 GMT, down from 80.7950 in the previous session. The local …

Rupee slips below 81/USD on broad-based dollar demand Read More »