Reuters India Business

By Noel John and John Biju (Reuters) -Gold prices rose on Friday, hovering near record highs and heading for a seventh consecutive weekly gain, supported by growing concerns over the economic impact of a prolonged U.S. government shutdown and expectations of interest rate cuts. Spot gold rose 0.7% to $3,884.19 per ounce by 01:40 p.m. …

Gold set for seventh straight weekly rise on US shutdown woes, rate cut bets Read More »

(Reuters) -Non-bank lender Tata Capital has raised 46.42 billion rupees ($523.18 million) from anchor investors including LIC and Norway’s wealth fund, as part of its $1.75 billion IPO that is set to be among India’s largest public offerings this year. LIC invested 7 billion rupees, while Norway’s wealth fund was allotted shares worth 1.25 billion …

Tata Capital raises $523 million from anchor investors in India IPO Read More »

By Noel John and John Biju (Reuters) -Gold prices rose on Friday, hovering near record highs and heading for a seventh consecutive weekly gain, supported by growing concerns over the economic impact of a prolonged U.S. government shutdown and expectations of interest rate cuts. Spot gold rose 0.5% to $3,876.55 per ounce by 10:48 a.m. …

Gold set for seventh straight weekly rise on US shutdown woes, rate cut bets Read More »

(Reuters) -Indian wireless carrier Vodafone Idea said on Friday it has appointed Tejas Mehta as its chief financial officer, effective October 6. Mehta, who was previously the finance chief at Mondelez India, replaces Murthy Gvas who ends his tenure on October 5. In August, insider Abhijit Kishore replaced CEO Akshaya Moondra as his term ended. …

Vodafone Idea names Tejas Mehta as finance chief Read More »

By Nikunj Ohri and Aftab Ahmed NEW DELHI (Reuters) -India’s economic fundamentals remain strong and its foreign exchange reserves, low inflation and a narrow current account deficit are buffers against risks from U.S. tariff hikes, its central bank chief said on Friday. Reserve Bank of India Governor Sanjay Malhotra told a conference that countries around …

India can weather global challenges, RBI chief says Read More »

(Reuters) -The Reserve Bank of India granted “self-regulatory organisation” status to the Finance Industry Development Council (FIDC) on Friday to help ensure regulatory compliance in the non-banking lending sector. Self-regulatory organisations (SROs) are expected to help develop industry standards and best practices, and ensure that members adhere to these. They are also expected to ally …

India’s RBI grants self-regulatory body status to FIDC for non-bank lending sector Read More »

By Sethuraman N R NEW DELHI (Reuters) -India’s electricity generation slowed in September, reflecting a decline in industrial activity and prolonged monsoon conditions that reduced cooling demand. Power output rose 3.2% year-on-year but fell short of August’s 4% growth, marking the first monthly drop in three months, according to daily analysis of Grid India data. …

India’s power output growth slows in September as industrial momentum eases Read More »