By Sethuraman N R BENGALURU (Reuters) – Indian shares rose over 2% on Tuesday, driven by a surge in banking and financial stocks on the back of a rally in Bajaj Finance and Bajaj Finserv. The NSE Nifty 50 index ended up 2.6% at 17,759.30, while the S&P BSE Sensex gained 2.7% at 59,537.07. The …
Indian shares post second straight monthly gain as banks, financials boost Read More »
By Nupur Anand MUMBAI (Reuters) – India’s Shriram Transport Finance Company Ltd plans to raise an additional 50 billion rupees ($627.20 million) in the second half of the financial year to fund growth opportunities. The non-banking finance company (NBFC) has already raised 50 billion rupees in the first half of this year and the additional …
India’s Shriram Transport to raise 50 billion rupees in second half of FY23 Read More »
By M. Sriram MUMBAI (Reuters) – India’s Axis Bank is in talks to acquire a stake in Go Digit Life Insurance, two sources with direct knowledge of the matter told Reuters, as the country’s third biggest private lender seeks to tap a fast-growing insurance market. Axis is planning to take a 10% stake for around …
India’s Axis Bank eyes 10% stake in Go Digit life insurance business-sources Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is tipped to open flat to the U.S. currency on Tuesday after oil prices scaled to a one-month high and as the dollar index retreated. In early trade, the rupee is expected around the same level of 79.9625 from the previous session. The unit fell to …
Indian rupee likely flat on dollar pullback, oil surge Read More »
By Dhara Ranasinghe and Koh Gui Qing NEW YORK/LONDON (Reuters) – World stocks slumped on Monday as the growing risk of more aggressive U.S. and European interest rate hikes inflicted more pain on bond markets and pushed the dollar to new 20-year highs, as recession fears mount. Two-year U.S. yields surged to a high of …
Rate fever propels dollar, wallops stocks and bonds Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices reversed course to trade higher on Monday as a dollar rally lost steam, having pushed bullion to one-month lows earlier in the session after the U.S. Federal Reserve signalled higher interest rates. Spot gold was steady at $1,737.57 per ounce by 2:15 p.m. ET (1815 GMT). Prices touched …
Gold recovers from one-month low as dollar rally stalls Read More »
NEW DELHI (Reuters) – India’s IT ministry has no proposal to restrict sales of foreign smartphone brands that cost below $150, a junior minister said on Monday, after reports suggested New Delhi could impose restrictions to promote domestic players. Rajeev Chandrasekhar’s comments followed reports that India was planning to restrict sales of cheap Chinese smartphones …
India does not plan to restrict low-cost foreign smartphone sales Read More »
NEW DELHI (Reuters) – A lead lender to India’s Future Lifestyle has dragged the fashion retailer to bankruptcy, the company told the stock exchange on Monday, adding that it was seeking legal advice on the matter. Future Lifestyle said in a statement that State-run Bank of India has initiated legal proceedings under the country’s Insolvency …
Indian lender initiates bankruptcy process against Future’s fashion unit Read More »
By Ruma Paul DHAKA (Reuters) – Bangladesh is finalising deals with Vietnam and India to import a total of 330,000 tonnes of rice as it races to replenish reserves and cool domestic prices, two officials with direct knowledge of the matter said on Monday. Soaring prices of the staple grain for the country’s 165 million …
Bangladesh to import rice from Vietnam and India to replenish reserves Read More »
By Munsif Vengattil NEW DELHI (Reuters) -India’s telecom leader Reliance said on Monday it is working with Alphabet Inc’s Google to launch a budget 5G smartphone as it laid out a $25 billion plan for introducing the next-generation wireless services within two months. Speaking at the company’s annual general meeting, Reliance Chairman Mukesh Ambani said …
India’s Reliance to develop new smartphone with Google in $25 billion 5G push Read More »
