MUMBAI (Reuters) – Spread between India’s five-year and liquid 10-year benchmark bond yields compresses, as market participants anticipate more rate hikes in coming months, after another 50 bps move from the Reserve Bank of India. The five-year bond yield was trading at 7.06% at 0900 GMT, while the 10-year bond yield was at 7.30%, with …
India 5-10 year bond yield spread shrinks on bets of more rate hikes Read More »
By Swati Bhat and Chris Thomas MUMBAI (Reuters) – The Reserve Bank of India’s key policy repo rate was raised by 50 basis points on Friday, the third increase in the current cycle to cool stubbornly high inflation that has remained above the central bank’s tolerance band for six straight months. With June retail inflation …
India cenbank raises key rate 50 bps as inflation seen staying elevated Read More »
NEW DELHI (Reuters) – India will allow the export of an additional 1.2 million tonnes of sugar, a government official said on Friday. The notification allowing exports would be issued by the end of the day, federal food secretary Sudhanshu Pandey told reporters on the sidelines of a news conference. Reuters reported last week that …
India to allow additional 1.2 million T of sugar exports Read More »
By M. Sriram MUMBAI (Reuters) – India’s Pine Labs is targeting $4 billion to $5 billion in monthly transactions within two years for its new online payments business, its chief executive told Reuters. At that point, online payments should contribute 20% of revenue, Pine Labs chief executive Amrish Rau said, disclosing the company’s targets for …
India’s Pine Labs eyes $4-5 billion in monthly payments volume from new business Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is unlikely to fall significantly from current levels against the U.S. dollar after the Reserve Bank of India on Friday opted for a 50 basis points rate hike, analysts said. The RBI hiked the key interest rate by 0.50% to 5.40%, an outcome that less than …
Moderately hawkish RBI to keep India rupee supported – analysts Read More »
By Aditi Shah NEW DELHI (Reuters) -Mahindra and Mahindra Ltd reported on Friday a sharp jump in first-quarter net profit on improved demand for the Indian automaker’s passenger vehicles and tractors. The company, owned by Indian billionaire Anand Mahindra, said it sold 149,803 vehicles during the quarter, up 74%, while its tractor sales jumped 18% …
By Dharamraj Lalit Dhutia MUMBAI (Reuters) – India’s overnight indexed swap rates jumped by at least 15 basis points after the country’s central bank hiked its key policy repo rate by 50 basis points and highlighted inflation concerns. The one-year swap rate was trading at 6.14%, up 15 bps from its previous close, while the …
India OIS rates jump on RBI rate hike, hawkish commentary Read More »
MUMBAI (Reuters) – India’s Shriram Housing Finance Ltd plans to raise 580 million rupees ($7.32 million) through the sale of bonds maturing in four years, three merchant bankers said on Friday. The non-banking finance company will pay an annual coupon of 8.00% on the issue and has invited commitment bids from bankers and investors on …
India’s Shriram Housing Finance plans to issue 4-year bonds – traders Read More »
By Rama Venkat BENGALURU (Reuters) – Indian shares rose on Friday as rate-sensitive banking stocks climbed, while the rupee and bond yields firmed after the Reserve Bank of India (RBI) hiked its key policy rate for the third time in the current cycle. The RBI’s Monetary Policy Committee (MPC) raised the repo rate by 50 …
Indian shares rise, rupee strengthens after RBI raises key policy rate Read More »
By Kavya Guduru (Reuters) – Gold prices climbed over 1% to hit a fresh one-month peak on Thursday, underpinned by a retreat in the dollar and U.S. Treasury yields, as investors kept a close tab on U.S.-China tensions. Spot gold rose 1.6% to $1,792.19 per ounce by 1:56 p.m. ET (1756 GMT), having risen to …
Dollar dip, U.S.-China tensions push gold to a new 1-month peak Read More »
