By Ashitha Shivaprasad (Reuters) – Gold prices dropped more than 2% to a one-week low on Monday as worries over a wider Middle East conflict subsided, prompting investors to scale back safe-haven trades in favour of riskier assets like equities. Spot gold was down 2.5% at $2,330.51 per ounce as of 1:52 p.m. ET (1752 …
Gold drops more than 2% to one-week low as Middle East worries ebb Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s markets regulator found a dozen offshore funds invested in Adani group companies were in violation of disclosure rules and in breach of investment limits, two people with direct knowledge of the matter said on Monday. They declined to be named as they not authorised to speak to …
By Jayshree P Upadhyay MUMBAI (Reuters) – BSE Ltd, India’s oldest stock exchange, said it was filing a police complaint against unknown persons behind a “deepfake” video that purportedly shows its chief executive doling out stock tips. “We have gone to the regulator (SEBI) and are filing a police complaint against such manipulated videos,” BSE …
Will file police complaint to stop spread of CEO deepfakes, BSE says Read More »
BENGALURU (Reuters) – India’s Reliance Industries reported fourth-quarter profit above analysts’ estimates on Monday, boosted by strength in its mainstay oil to chemicals (O2C) segment. The billionaire Mukesh Ambani-led company said its consolidated profit fell about 2% to 189.51 billion Indian rupees ($2.27 billion) in the January-March quarter, but edged past analysts’ average estimate of …
Reliance Industries beats Q4 profit estimates on boost from energy unit Read More »
By Siddhi Nayak MUMBAI (Reuters) – India’s largest private lender HDFC Bank has surprised on deposit mobilisation and margin expansion despite a lower than expected fourth-quarter profit, analysts said. The private lender reported a sequential rise in profit but missed analysts’ estimates as it set aside more funds for potential bad loans. The results have …
India’s HDFC Bank surprises on margin trajectory, garnering deposits, analysts say Read More »
By Swati Bhat MUMBAI (Reuters) – India needs to cut interest rates to help its economy reach its potential growth but the members of the South Asian nation’s monetary policy committee (MPC) are divided on the timing of such cuts, interviews with two external members suggest. “We are in a catch-up growth phase. Growth has …
India needs rate cuts to reach potential growth, say MPC members Varma, Goyal Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Monday, tracking a rebound in Asian peers, as IT major Wipro rose post earnings and falling crude prices helped oil marketing companies, but a fall in top private lender HDFC Bank capped gains. The NSE Nifty 50 was up 0.40% at 22,236.05 as of 10:37 a.m. …
Indian shares rise tracking Asia rebound; drop in HDFC Bank caps gains Read More »
BENGALURU (Reuters) – Shares of Wipro rose as much as 2.4% on Monday, after India’s No.4 software services exporter posted better-than-expected fourth-quarter results, while some analysts pinned hopes on new CEO Srinivas Pallia to anchor a turnaround. Its shares were up 1.8% at 460.60 rupees by 10:10 a.m. IST, leading gains on the Nifty IT …
India’s Wipro rises as Street pins hopes on new CEO after Q4 results Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee logged modest gains in early trading on Monday on dollar sales from foreign banks but traders expect the upside to be capped as U.S. bond yields continue to hover at elevated levels. The rupee was at 83.4325 against the U.S. dollar as of 10:00 a.m. IST, …
Rupee ticks up on foreign banks’ dollar sales; forward premiums slip Read More »
By Manoj Kumar NEW DELHI (Reuters) – Income tax receipts in India, comprising personal and corporate levies, rose 17.7% year-on-year to nearly $235 billion in the 2023/24 financial year ending in March, reflecting the rising incomes of rich taxpayers and corporate profits. Net income tax receipts for the 2023/24 financial year ending in March rose …
India’s income tax receipts up 17.7% yr/yr in 2023/24, near $235 billion Read More »
