NEW DELHI (Reuters) – India expects to raise up to $2.7 billion through an IPO of Life Insurance Corp of India that opened to retail and other investors on Wednesday, more than two years after the government raised the prospect of taking the giant company to market. New Delhi had hoped to raise up to …
How LIC’s IPO, India’s biggest, was nearly derailed by market churn Read More »
MUMBAI (Reuters) – India’s benchmark 10-year bond yield rose to its highest in more than two weeks on Wednesday afternoon as investors speculated on the possibility of an off-cycle rate increase by the Reserve Bank of India. The central bank said in a tweet, governor Shaktikanta Das, will be making a statement at 2 p.m. …
Indian bond yields rise ahead of central bank chief’s address Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -India has asked state and private sector utilities to ensure delivery of 19 million tonnes of coal from overseas by end-June, according to a power ministry letter, reflecting an urgency to secure supplies in a pricey market amid increasing blackouts. The move, which marks the first time the world’s …
India sets end-June coal import targets as power woes mount Read More »
By Ashitha Shivaprasad (Reuters) – Gold firmed on Tuesday, tracking a slight retreat in U.S. Treasury yields and dollar, while investors anticipated an aggressive interest rate hike from the Federal Reserve when it concludes a two-day policy meeting. Spot gold was up 0.4% at $1,870.56 per ounce by 1751 GMT. Prices had touched $1,849.90 earlier …
Gold prices gain following a pull-back in yields, dollar Read More »
NEW DELHI (Reuters) – India plans to set up 30,000 megawatts (MW) of offshore wind power capacity alongside 50,000 MW of solar capacity, the country’s power minister said on Tuesday. “India has focused programs for capacity addition and accelerating the energy transition,” R.K. Singh told major German energy companies at a meeting, according to a …
India to add 30,000 MW offshore wind power capacity -minister Read More »
By M. Sriram MUMBAI (Reuters) – Indian grocery startup Zepto said on Tuesday it has raised $200 million in fresh funding that values the company around $900 million, signalling growing investor interest in a sector where companies are luring customers with quick 10-minute deliveries. Zepto was started last year by two 19-year-old Stanford dropouts. Its …
Indian grocery startup Zepto raises new funds at $900 million valuation Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices fell more than 2% to a near three-month low on Monday, as increased prospects of faster rate hikes by the Federal Reserve lifted U.S. Treasury yields and the dollar. Spot gold fell 1.6% to $1,865.31 per ounce by 02:07 p.m. EDT (1807 GMT), earlier hitting its lowest since …
Gold prices slide 2% as yields, dollar gain ahead of Fed meet Read More »
BENGALURU (Reuters) – Indian shares kicked off May on a tepid note, weighed down by losses in automobile and IT stocks, as investors cautiously awaited an expected rate hike by the U.S. Federal Reserve this week. At the close of trade on Monday, the NSE Nifty 50 index was down 0.2% at 17,069.10, while the …
Indian shares end lower, U.S. Fed meeting in focus Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) – India’s electricity demand touched a record high in April as its northern states reeled under the hottest pre-summer months in decades, with a surge in the use of air conditioning triggering the worst power crisis in more than six years. Power demand grew 13.2% to 135.4 billion kilowatt …
Unrelenting heat in India pushes April power demand to record high Read More »
Bengaluru (Reuters) – Factory activity in India picked up last month, bolstered by a solid increase in demand as pandemic restrictions were eased, but rising energy prices pushed input costs to a five-month high, a private survey showed. International demand also jumped robustly to a 9-month high after contracting in March and domestic demand was …
India’s factory activity quickens in April amid high inflation Read More »
