By Shivangi Acharya, Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – India’s Tata Motors is planning to manufacture Jaguar Land Rover (JLR) luxury cars at a $1 billion plant that it is planning to build in the southern state of Tamil Nadu, two sources with direct knowledge of the plans said. Tata Motors announced …
Tata Motors to use new $1 billion plant to make Jaguar Land Rover cars, sources say Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares inched up on Thursday tracking their Asian peers, after closing lower for three consecutive sessions, led by energy stocks as crude prices fell and metals stocks on global supply worries. The NSE Nifty 50 was up 0.15% at 22,181.20 as of 10:16 a.m. IST, while the S&P BSE …
Energy, metals lead rebound in Indian shares after three-session drop Read More »
(Reuters) -India imported 232.5 million metric tonnes (MMT) of crude oil in the financial year 2023-24, compared with 232.7 MMT the prior fiscal year, provisional government data showed on Wednesday. The world’s third-biggest oil importer and consumer spent $132.4 billion importing oil in fiscal year 2023-24, nearly 16% lower than the $157.5 billion spent in …
India’s crude oil imports remain stable at 232.5 million tons in FY 2023-24 Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices edged down on Wednesday, but traded near their record high levels hit last week, as pressure from fading U.S. rate cut hopes overshadowed gains from safe haven demand arising out of geopolitical turmoil in the Middle East. Spot gold eased 0.2% to $2,376.39 per ounce, as of 2:15 …
Gold retreats as dimming rate cut expectations overshadow safe haven demand Read More »
BENGALURU (Reuters) – Indian brokerage firm Angel One’s fourth-quarter profit rose 27% on Wednesday as trading activity helped more than make up for its higher spending amid heated competition for clients. The company’s profit rose to 3.4 billion rupees ($40.7 million) in the quarter, boosted by an increase in trading activity, especially among retail investors, …
Brokerage firm Angel One’s Q4 profit rises 27% aided by jump in trading activity Read More »
BENGALURU (Reuters) – India’s ICICI Lombard General Insurance reported a nearly 19% rise in fourth-quarter profit on Wednesday, helped by an increase in premiums at its motor and health insurance units. Profit after tax rose to 5.20 billion Indian rupees ($62.18 million) for the quarter ended March 31 from 4.37 billion rupees a year earlier, …
ICICI Lombard’s Q4 profit rises on higher premiums earned Read More »
BENGALURU (Reuters) – Investment firms GQG and Fidelity picked up shares worth $261 million in India’s Vodafone Idea as part of the debt-saddled telecom operator’s planned $2.16 billion share sale, the company said. Vodafone Idea sold shares worth 54 billion rupees ($645.5 million) to institutional investors in the first stage of its 180 billion rupees …
GQG, Fidelity pick up shares worth $261 million in India’s Vodafone Idea Read More »
BENGALURU (Reuters) – Zee Entertainment Enterprises said on Tuesday it was withdrawing an application filed with an Indian company tribunal that was aimed at forcing Sony to merge its India unit with the company. The decision to withdraw the application, which was filed in January, will enable the company to “aggressively pursue” all its claims …
Zee withdraws Sony merger application from India company tribunal Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices held steady on Tuesday, as safe-haven demand amid ongoing tensions in the Middle East offset rising expectations of fewer U.S. rate cuts this year. Spot gold was little changed at $2,382.72 per ounce by 13:56 ET (1756 GMT). U.S. gold futures settled 1% higher at $2,407.8. The yellow …
Gold holds steady as geopolitical risks counter rate cut concerns Read More »
NEW DELHI (Reuters) – The International Monetary Fund (IMF) has raised India’s growth forecast for 2024-25 to 6.8% from 6.5% on the back of strong domestic demand and a rising working-age population. The Reserve Bank of India, the country’s central bank, estimates the economy to grow at 7% in the current financial year that started …
IMF raises India’s GDP forecast to 6.8% for 2024-25 Read More »
