NEW DELHI (Reuters) – India has raised a windfall tax on domestically produced crude oil to 11,000 Indian rupees ($133.59) per tonne from 8,000 rupees per tonne from Sunday, a government order said on Saturday. India has also imposed an export tax of 3.50 rupees per litre on jet fuel, the order said. A windfall …
By Nupur Anand MUMBAI (Reuters) -India’s largest private lender HDFC Bank on Saturday reported a 20% rise in net profit in the September quarter of this financial year, buoyed by higher loan growth and rise in other income. Net profit rose to 106.05 billion rupees, beating estimates. Analysts had expected a profit of 105.97 billion …
India’s largest private lender HDFC Bank reports profit up 20% Read More »
NEW DELHI (Reuters) – India has allowed export-oriented units and the firms set up in Special Economic Zones to export flour made from imported wheat, a government order said on Friday, conceding to the demands of food processors to allow shipments of value-added products. India will allow food processors to import duty-free wheat against a …
India allows exports of wheat flour processed from imported grain Read More »
BENGALURU (Reuters) -India’s Tata Power late on Friday reported a cyber attack on its IT infrastructure that impacted some of its systems. The company said it has taken steps to retrieve and restore the systems, adding that all critical operational systems are functioning. It also has put in place restricted access and preventive checks for …
By Bharat Gautam (Reuters) – Gold prices fell more than 1% on Friday and were headed for their worst week since mid-August, dragged lower by a stronger U.S. dollar and worries the Federal Reserve will persist with sharp rate hikes to curb inflation. Spot gold had fallen 1.3% to $1,643.90 per ounce by 13:42 p.m. …
Gold heads for worst week in 2 months as dollar rises Read More »
MUMBAI (Reuters) – India has slashed the base import prices of crude and refined palm oil, crude soya oil and gold, the government said in a statement on Friday, as prices corrected in the world market. The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used …
By Rama Venkat BENGALURU (Reuters) -Indian shares closed 1% higher on Friday, led by gains in IT giant Infosys and banks, but still ended a volatile week in the red. The NSE Nifty 50 index settled 1.01% higher at 17,185.70, and the S&P BSE Sensex advanced 1.2% to 57,919.97. Both indexes rose as much as …
Indian shares end higher as Infosys, banks climb Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee reached a record low versus the dollar this week but managed to recoup a large part of its losses, thanks to likely intervention by the country’s central bank in both spot and forwards. The rupee ended at 82.3500 per U.S. dollar on Friday, compared with 82.3450 …
Rupee mostly flat on week, premiums plunge on RBI intervention Read More »
BENGALURU (Reuters) – Indian billionaire Gautam Adani-led Adani Enterprises Ltd on Friday said it was not evaluating a proposal to acquire Jaiprakash Associates Ltd’s cement business. The Adani Group made the disclosure in a stock exchange filing after a Bloomberg News report from earlier this week said the conglomerate was in talks to buy the …
MUMBAI (Reuters) – The Reserve Bank of India’s rate tightening alongside a weaker rupee could be the “optimal” policy response to restore the country’s external balances, HSBC Securities said in a note on Friday. “While the RBI started hiking rates in May 2022, it was only in September that it moved to a two-pronged strategy …
India’s high policy rates, weaker rupee could restore external balances -HSBC economist Read More »
