By Rajendra Jadhav and Brijesh Patel NEW DELHI (Reuters) -Supplies of used gold jewellery and coins, typically released when investors book profits, have been scarce in India, as many expect bullion prices to continue climbing even after reaching new highs almost every week. This contrasts with March, when spot gold first crossed $3,000 an ounce …
Record gold prices in India fail to unlock scrap supply Read More »
By Neha Arora NEW DELHI (Reuters) -India is holding off on plans to hike its export duty on low-grade iron ore and pellets as resistance from the domestic mining industry grows, a source familiar with the matter said. The government has been considering raising the export duty to between 20% and 30%, from zero now, …
India unlikely to raise export duty soon on low-grade iron ore, pellets, says source Read More »
By Neha Arora (Reuters) – India’s steel industry will not see much direct impact from U.S. tariffs, but the European Union’s carbon tax will affect steel exports, the country’s steel secretary Sandeep Poundrik said at the FT Live Energy Transition Summit India on Wednesday. Roughly two-thirds of India’s steel exports go to Europe, while exports …
India steel exports face EU carbon tax hit, US tariffs impact minimal, official says Read More »
By Nimesh Vora MUMBAI (Reuters) -The Indian rupee is poised to build on its recent recovery on Wednesday, supported by a drop in the dollar and U.S. Treasury yields, with the market focus firmly on the Federal Reserve’s upcoming policy verdict. The Fed is set to cut rates for the first time since December, with …
Rupee recovery to pick pace with Fed set to kick off rate cuts Read More »
By Sethuraman N R and Neha Arora NEW DELHI (Reuters) – Indian mining and metals conglomerate Vedanta Ltd will continue to rely on coal as its primary energy source for mining operations, while aiming to increase the share of renewable sources in its energy mix, a top executive said on Tuesday. Coal accounts for nearly …
India’s Vedanta to keep coal as base energy source amid clean energy push Read More »
(Reuters) – Stock broking firm Groww filed updated draft documents for its initial public offering on Tuesday, which comprised a fresh issue of shares worth up to 10.6 billion rupees and the offloading of 574.2 million shares from existing shareholders. Boosted by rising financial literacy, easy digital onboarding and low-cost trading, India has seen a …
Indian stock broking platform Groww files updated draft papers for IPO Read More »
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp has received a non-binding bid for its steel unit from a division of Indian conglomerate Naveen Jindal Group, the German company said on Tuesday, the latest twist in the group’s years-long effort to dispose of the business. News of the indicative bid for Thyssenkrupp Steel …
Thyssenkrupp gets non-binding bid for steel unit from Jindal Steel International Read More »
By Anushree Mukherjee (Reuters) – Gold vaulted past $3,700 an ounce levels for the first time on Tuesday as rising bets on a rate cut by the Federal Reserve this week fueled a rally that has been stoked by safe-haven demand, central bank buying and a weaker dollar. Spot gold rose 0.3% to $3,690.59 per …
Fed-fueled frenzy sends gold to uncharted territory above $3,700 Read More »
(Reuters) – India’s antitrust body said on Tuesday it has cleared JSW Paints’ deal to acquire up to 75% stake in Dutch paint maker Akzo Nobel’s Indian unit. The deal, which was announced in late June, comes at a time when Indian paint makers are grappling with rising raw material costs and intensifying competition. Post …
India antitrust watchdog clears JSW Paints’ bid for up to 75% stake in Akzo Nobel India Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s antitrust inspectors have conducted surprise raids at steel pipe makers Jindal SAW and Maharashtra Seamless as part of an investigation into alleged bid rigging, two people with direct knowledge of the matter said on Tuesday. The raids were conducted at the offices of Jindal SAW and Maharashtra …
India raids Jindal Saw, Maharashtra Seamless in antitrust investigation, sources say Read More »
