By Nupur Anand and Chris Thomas MUMBAI (Reuters) – Shares in Life Insurance Corp of India (LIC) slid nearly 8% in its market debut on Tuesday, a fresh setback for the state-owned giant as its record-breaking, oversubscribed IPO raised far less than expected for the government. India’s biggest insurer and largest domestic financial investor closed …
LIC shares tumble in market debut after record India IPO Read More »
NEW DELHI (Reuters) -India will allow overseas wheat shipments awaiting customs clearance, the government said on Tuesday, introducing some relaxation in exports after it banned overseas sales of the staple on Saturday. India will also allow wheat exports to Egypt, the government said in a statement. “It has been decided that wherever wheat consignments have …
India to allow wheat shipments awaiting customs clearance Read More »
By Swati Bhat MUMBAI (Reuters) – The Indian rupee gradually recovered after touching a record low on Tuesday, after the central bank intervened while bond yields edged higher tracking the uptick in global crude oil prices. The partially convertible rupee was trading at 77.63/64 per dollar by 0805 GMT compared with its close of 77.45 …
Indian rupee off record lows on RBI intervention; bond yields rise Read More »
By Nidhi Verma NEW DELHI (Reuters) – Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s No. 3 oil consumer and importer, tanker tracking data showed. Russia’s share in India’s oil purchases rose to a record 6%, …
Russia jumps to 4th position as oil supplier to India – tanker data Read More »
By Manoj Kumar and Aftab Ahmed NEW DELHI (Reuters) – India’s wholesale prices accelerated at the fastest pace since at least April 2005, according to Refinitiv data, as the Ukraine war and a weak rupee pushed up energy and raw material costs for companies. Annual wholesale price inflation, a proxy for producers’ prices, climbed to …
India’s April WPI inflation accelerates to 17-year high Read More »
By P.J. Huffstutter CHICAGO (Reuters) -Chicago wheat futures hit the daily 70-cent trading limit cap on Monday after India banned exports of the grain, an abrupt policy change that fanned concerns about global supplies strained by Russia’s invasion of Ukraine. The wheat rally sent spillover strength to corn futures, as global buyers, who were banking …
Chicago wheat surges to daily trading limit as India bans exports Read More »
By Ashitha Shivaprasad (Reuters) – Gold rose slightly on Monday as a retreat in U.S. Treasury yields offset headwinds from a relatively firm dollar, which, along with looming interest rate hikes, earlier pushed bullion to a more than three-and-a-half-month low. Spot gold rose 0.3% to $1,817.12 per ounce by 1:52 p.m. ET (1752 GMT), after …
Gold ticks up as dip in U.S. yields loosens dollar’s grip Read More »
(Reuters) -Indian conglomerate Adani Group plans to buy Holcim AG’s cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country’s No. 2 cement manufacturer. Adani Group, owned by billionaire Gautam Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and …
Adani to become India’s No. 2 cement maker with $10.5 billion Holcim deal Read More »
BENGALURU (Reuters) -Indian shares closed higher on Monday after six consecutive sessions of losses, driven by gains in Eicher Motors, and some cement stocks after Adani Group announced a $10.5 billion deal that will make it the second-biggest cement producer in the country. The NSE Nifty 50 index gained 0.38% to 15,842.30 at close, and …
Indian shares end 6-day losing streak; Eicher, Ambuja rise Read More »
By John Revill ZURICH (Reuters) – Holcim will use cash raised from the sale of its Indian business for acquisitions focused on building products and solutions, Chief Executive Jan Jenisch said on Monday, with the cement-maker currently eyeing 10 potential targets. Holcim agreed to sell its Indian business to Adani Group for 6.4 billion Swiss …
Holcim to use proceeds from India sale on lower carbon acquisitions Read More »
