Reuters India Business

Gold climbs over 1% as dollar, yields fall after Fed’s interest-rate decision

By Anushree Ashish Mukherjee and Anjana Anil (Reuters) – Gold prices climbed over 1% on Wednesday as the dollar and U.S. Treasury yields tumbled lower after the Federal Reserve’s interest-rate decision and Chair Powell’s speech. Spot gold was up 1.7% at $2,323.38 per ounce as of 15:15 p.m. ET (1915 GMT), after hitting its lowest …

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Indian antitrust regulator checks if Pernod colluded with New Delhi retailers

By Aditya Kalra NEW DELHI (Reuters) – India’s competition watchdog is reviewing accusations that France’s Pernod Ricard colluded with retailers in New Delhi to boost market share, the latest headache for the spirits giant in a key market, legal papers seen by Reuters show. With brands such as Chivas Regal, Glenlivet and Absolut vodka, Pernod …

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Adani Power’s fourth-quarter profit jumps on strong demand

BENGALURU (Reuters) – Indian thermal power producer Adani Power’s fourth-quarter profit jumped on Wednesday, helped by an increase in its electricity generating capacity and rising power demand in the country. The company reported consolidated profit before tax of 35.58 billion Indian rupees ($426.3 million) in the quarter, compared with 8.98 billion rupees a year earlier. …

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Indian carmakers post higher March sales; end fiscal 2024 at record levels

By VarunVyas Hebbalalu BENGALURU (Reuters) – (This April 1 story has been corrected to say that the auto sector contributes around 7% to India’s economy and drops incorrect reference that it carries more than 50% weightage in calculating the country’s economic growth in paragraph 3) Maruti Suzuki, Tata Motors and Mahindra & Mahindra reported higher …

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India unlikely to impose export curbs on low-grade iron ore, source says

By Neha Arora NEW DELHI (Reuters) – India is unlikely to impose tariffs on exports of low-grade iron ore for now despite rising overseas sales to China, a source with direct knowledge of the matter said, turning down requests from small steel producers. China typically accounts for more than 90% of overall shipments of iron …

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India’s Ambuja Cements misses Q4 profit estimate on lower prices

(Reuters) – Ambuja Cements, India’s second-largest cement maker by market capitalisation, reported on Wednesday a smaller-than-expected profit rise in the fourth quarter as lower prices weighed. WHY IT’S IMPORTANT Cement makers are expected to report subdued income from sales in the reported quarter, owing to a nearly 5% decline sequentially in cement prices across India. …

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India collects record 2.10 trillion rupees as goods and services tax in April

NEW DELHI (Reuters) -India collected a record 2.10 trillion rupees ($25.15 billion) as gross goods and services tax (GST) in April, a rise of 12.4% from the same period last year, the government said in a statement on Wednesday. The government had collected 1.87 trillion rupees as GST in the same period last year. “GST …

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India’s Godrej family agrees to split conglomerate into two

BENGALURU (Reuters) – India’s Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries, according to a filing late on Tuesday. The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the …

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