By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee fell to its weakest closing level on record on Monday as rising Middle East tensions weighed on Asian currencies and risk assets but potential dollar sales by the Reserve Bank of India helped curb the local unit’s losses. The rupee ended at 83.4500 per U.S. dollar …
Rupee ends at record closing low amid Mideast tensions, likely cenbank support aids Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined on Monday as investors turned risk-averse after Iran’s retaliatory attack on Israel over the weekend spurred fears of a wider regional conflict. The NSE Nifty 50 fell 1.1% to 22,272.50, while the S&P BSE Sensex lost 1.14% to 73,399.78, at close. “The escalation in the Iran-Israel conflict …
Indian shares fall as Middle East tensions spook investors Read More »
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – U.S. electric carmaker Tesla is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year, two people familiar with the discussions said. Tesla, which saw its global vehicle deliveries decline in the first quarter …
Tesla scouts for its first India showroom locations, sources say Read More »
By Neha Arora NEW DELHI (Reuters) – Leading Indian steelmakers fell short of an investment target for the fiscal year to March 2024 due to a delay in importing machinery from China and securing visas for Chinese experts, according to a government document reviewed by Reuters and sources. Under a production-linked incentive programme, launched in …
India’s steelmakers fall short of investment target due to delays linked to China Read More »
By Praveen Paramasivam and Ashna Teresa Britto CHENNAI/BENGALURU (Reuters) – Indian consumer goods companies such as makers of cooling systems, beer and ice cream are attempting to capitalise on a hotter-than-usual summer season by cranking up output, launching new products and ramping up spending on marketing. The world’s most populous nation expects 10 to 20 …
India consumer firms gear up to cash in on a sizzling summer Read More »
NEW DELHI (Reuters) -India’s wholesale price-based inflation in March rose 0.53%, its highest level in three months, mainly driven by food and primary articles, government data showed. That slightly outpaced the 0.51% rise expected by economists polled by Reuters and increased from a 0.20% year-on-year rise in February. Food prices rose 4.65% year on year …
India’s wholesale prices rise at fastest pace in three months Read More »
MUMBAI (Reuters) – Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) skipped any reference to structural economic reforms, such as changes to labour and land laws, in its manifesto ahead of elections, Citi economists said in a note on Monday. The BJP promised to create jobs, boost infrastructure and manufacturing and expand welfare programs …
India’s BJP election manifesto lacks plans for structural economic reforms, Citi says Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -India has asked companies to operate underutilised gas-based power plants in May and June, and extend operations of imported coal-based plants until Oct. 15 to meet anticipated high demand for electricity, according to two government orders. The South Asian nation registered an 8% rise in electricity consumption in …
India asks companies to fire-up power plants to meet rising electricity demand Read More »
By Anjana Anil and Ashitha Shivaprasad (Reuters) – Gold prices rose above $2,400 per ounce to an all-time high on Friday, heading for their fourth week of gains, as growing tensions in the Middle East prompted investors to seek refuge in the safe-haven assets. Spot gold eased 0.8% to $2,353.35 per ounce as of 1:40 …
Gold surges as Middle East tensions spur safe-haven rush Read More »
NEW DELHI (Reuters) – India’s industrial output grew at the fastest annual rate in four months in February, increasing 5.7% compared with the same month last year, government data showed on Friday. Economists polled by Reuters had estimated year-on-year growth of 6% in February. Annual industrial output growth for January was revised to 4.1% from …
India’s industrial output grows at fastest rate in four months in February Read More »
