By Nidhi Verma, Sudarshan Varadhan and Manoj Kumar NEW DELHI (Reuters) – India has imposed windfall tax on oil producers and refiners who have boosted product exports to gain from higher overseas margins as the government seeks to increase local supply of fuels to meet rising demand and increase federal revenues. New taxes along with …
India imposes windfall tax on oil producers, fuel exporters Read More »
By Rajendra Jadhav MUMBAI (Reuters) -India has raised its basic import duty on gold to 12.5% from 7.5%, the government said on Friday, as the world’s second biggest consumer of the precious metal tries to dampen demand and bring down the trade deficit. Local gold prices jumped to an over two-month peak of 52,032 rupees …
India raises import tax on gold to support rupee Read More »
BENGALURU (Reuters) – Gains in consumer goods and financial stocks helped India’s blue-chip share indexes recover sharply on Friday, after government export duties on oil products triggered a plunge in energy majors Reliance Industries and ONGC. The NSE Nifty 50 index ended 0.18% lower at 15,752.05 on the first trading day of the second quarter …
Indian shares trim losses after Reliance, ONGC carnage Read More »
By Swati Bhat MUMBAI (Reuters) -The Indian rupee plunged on Friday to mark the fourth straight session of record lows, breaking below the 79-per-dollar mark, weighed down by broad strength in the greenback and as investors retreated from the domestic share markets. The U.S. dollar remained strong against major peers due to the prospects of …
Indian rupee hits record low, breaches 79-mark on dollar strength Read More »
By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) – India is likely to receive monsoon rainfall between 94% to 106% of a long-term average in July, the state-run India Meteorological Department said on Friday, the most crucial month for the planting of critical crops such as rice and soybeans. The weather office defines average, …
India’s critical July monsoon rains expected between 94% to 106% Read More »
By Ashitha Shivaprasad (Reuters) – Gold slipped on Thursday, heading for its worst quarter in five as a hawkish tone from global central banks dimmed appeal for the non-yielding asset. Spot gold fell 0.6% to $1,806.55 per ounce by 2:36 p.m. ET (1836 GMT), on track to fall more than 6% for the quarter. U.S. …
Gold bound for worst quarter in over a year on hawkish Fed Read More »
By Aditya Kalra and Abhirup Roy MUMBAI (Reuters) -Reliance Industries said on Thursday it would open outlets of Pret A Manger in India under a franchise deal with the British sandwich and coffee chain, a first foray by the Indian firm in the country’s growing food and beverage industry. Reliance Brands Ltd (RBL), a unit …
Reliance to launch British sandwich outlet Pret A Manger in India Read More »
By Swati Bhat MUMBAI (Reuters) – The Indian rupee declined for a third straight quarter versus the U.S. dollar while the benchmark 10-year bond yield spiked for a fourth quarter as concerns over sustained inflation and continuing foreign fund outflows weighed. Interest rate increases by the Reserve Bank of India to curb inflationary pressures and …
Indian rupee, bonds post quarterly losses, more pain expected Read More »
By Chris Thomas and Gaurav Dogra BENGALURU (Reuters) – Indian shares on Thursday ended lower and clocked their worst quarter since the early days of the pandemic, beset by fears that aggressive central bank policy aimed at curbing inflation could hurt the economy. The NSE Nifty 50 index closed 0.12% lower at 15,780.25, and the …
Indian shares suffer worst quarter since pandemic-hit start of 2020 Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) – India’s telecom giants are likely to make muted bids at the 5G spectrum auction in July, on worries they stand to lose about 40% in potential revenues due to the allotment of some airwaves to enterprises for private networks, industry sources said. Top player Reliance …
Indian telcos’ 5G bids seen muted as private firms jostle for airwaves -sources Read More »
