Reuters India Business

By Neha Arora NEW DELHI (Reuters) – India’s steel industry, already reeling from cheaper imports, is worried about a surge in shipments from China after the United States imposed tariffs on Chinese steel, industry executives and analysts said. U.S. President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports including …

Indian steel mills fear surge in Chinese imports after U.S. tariffs Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose slightly on Thursday, aided by a drop in U.S. bond yields and a weaker dollar after soft U.S. inflation data boosted hopes that the Federal Reserve may begin easing policy rates from September. The rupee was at 83.46 against the U.S. dollar as of 09:40 …

Rupee gains but lags behind Asian peers, forward premiums rise Read More »

(Reuters) -India has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from May 16, according to a notification issued on Wednesday. The tax, which is revised every two weeks, remains unchanged at zero for diesel and aviation turbine fuel. The government on May 1 …

India cuts windfall tax on petroleum crude Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -India’s weight in MSCI’s Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets. With this, India has further narrowed the gap with China on the index. While China’s weightage in the index will fall to 25% …

India’s weight in key MSCI equity index hits another high, to boost inflows Read More »

BENGALURU (Reuters) – Drugmaker Granules India posted a 1.6% fall in fourth-quarter revenue on Wednesday, hurt by a decline in paracetamol sales and price erosion. The company’s consolidated revenue fell year-on-year to 11.76 billion rupees (nearly $141 million) for the three months to March 31. Granules, which focuses on making active pharmaceutical ingredients (API), holds …

Granules India posts Q4 revenue fall on weak paracetamol sales, price erosion Read More »