Reuters India Business

MUMBAI (Reuters) – Indian mills have signed contracts to export 4.6 million tonnes of sugar in the 2021/22 marketing year without government subsidies, a leading trade body said on Monday. The exports would allow the world’s second-biggest sugar producer to trim stockpiles, though it could weigh on global prices. Mills have already dispatched 3.7 million …

India signs deals to export 4.6 million T sugar in 2021/22, says trade body Read More »

NEW DELHI (Reuters) -India cancelled auctions of government securities to be held on Feb. 11, a government statement said on Monday, following a sharp rise in bond yields after the announcement of a record borrowing programme. India’s government had planned to auction 220 billion worth of bonds on Feb. 11. “On review of the Government …

India cancels auctions of government securities to be held on Feb 11 Read More »

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi said on Monday his government was trying to keep inflation in check and that doing so has been a priority for him since coming to power in 2014. (Reporting by Krishna N. Das and Anuron Kumar Mitra; Editing by Toby Chopra)

By Sethuraman N R BENGALURU (Reuters) – Indian shares recorded their worst session in two weeks on Monday, dragged by private-sector lenders and consumer stocks, while a slew of strong earnings from state-controlled banks helped limit more losses. The blue-chip NSE Nifty 50 index fell 1.73% to 17,213.60, while the S&P BSE Sensex dropped 1.75% …

Indian shares mark worst day in 2 weeks as private-sector lenders drag Read More »

By Swati Bhat MUMBAI (Reuters) – India’s central bank is expected to hold its repo rate steady on Thursday but several economists are expecting an increase in the reverse repo rate as part of a process to reduce surplus liquidity poured into markets earlier in the pandemic. The three-day meeting of the Reserve Bank of …

India cenbank seen holding repo rate steady and raising reverse repo Read More »

By Chris Thomas and Neha Arora NEW DELHI (Reuters) – State Bank of India, the country’s largest lender by assets, reported a 62.3% rise in third-quarter profit on Saturday, the Mumbai-based lender said in a regulatory filing, helped by lower provisions. Net profit rose to 84.32 billion rupees ($1.13 billion) for the three months ended …

SBI reports 62% jump in quarterly profit, provisions drop Read More »