Reuters India Business

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 »

By Siddhi Nayak MUMBAI (Reuters) -HDFC Bank, India’s largest private lender, posted a smaller-than-expected quarterly profit on Saturday due to higher loan provisions, even as the bank’s lending margins held steady from the previous quarter. HDFC Bank, the first Indian lender to report fiscal fourth-quarter results, posted a standalone net profit of 165.12 billion rupees …

India’s HDFC Bank misses Q4 profit view on higher provisions; margins stable Read More »

By Aditi Shah, Aditya Kalra and Sarita Chaganti Singh NEW DELHI (Reuters) – Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year. “Unfortunately, very heavy Tesla obligations require that …

Tesla’s Elon Musk postpones India trip, aims to visit this year Read More »

NEW DELHI (Reuters) – India, the world’s third biggest oil importer and consumer, discussed recent trends and volatility in the global oil market and their impact on global energy stability with OPEC secretary general on Friday, a government statement said. During the telephone conversation with Haitham Al-Ghais India’s oil minister Hardeep Singh Puri “emphasized the …

India discussed oil market volatility with OPEC chief, government says Read More »

(Corrects syntax in the headline) By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) – India’s Wipro edged past low revenue expectations in the fourth quarter on Friday, helped by a pick up in its consulting business, and its new CEO said kickstarting growth in the country’s No.4 software-services exporter was a top priority. The …

India’s Wipro scrapes past lowered revenue expectations, prioritises growth pick-up Read More »

By M. Sriram MUMBAI (Reuters) -Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday. SoftBank-backed Ola is India’s answer to Uber and plans to file papers for approval …

Exclusive-India’s Ola Cabs plans $500 million IPO, to appoint banks soon, sources say Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee recovered after slipping to a record low on Friday, on likely intervention by the central bank and comments by an Iranian official that there was no missile attack on the country. The rupee was at 83.5175 to the U.S. dollar at 11:15 a.m. IST, marginally up …

Rupee off record low on likely central bank intervention, Iranian official’s comment Read More »

By Nidhi Verma NEW DELHI (Reuters) – Russia became the top oil supplier to India during the fiscal year 2023/24 for a second year in a row, squeezing the market share of Middle Eastern and OPEC producers to historic lows, ship tracking data from industry sources showed. New Delhi has been gorging on Russian oil …

Russia squeezes Mideast, OPEC shares in India’s oil market to historic lows Read More »