By Jaspreet Kalra MUMBAI, Dec 8 (Reuters) – The Indian rupee ended weaker on Monday as a fall in local equities and marginal slip in Asian currencies weighed on the currency, while traders remained cautious on speculative positions as the rupee settles into a fresh trading range. The local currency closed at 90.07 per U.S. …
Rupee sags alongside local stocks, tepid Asia FX also pinches Read More »
Dec 8 (Reuters) – ICICI Prudential AMC, India’s second-largest asset management company, plans to make an acquisition in the private equity space, its CEO said on Monday, a move that would strengthen its position beyond traditional investment products. The acquisition would help the firm deepen its ability to analyse new age businesses, Nimesh Shah said …
India’s ICICI Prudential AMC plans acquisition in private equity space, CEO says Read More »
Dec 8 (Reuters) – India’s fuel consumption climbed to a six-month high in November, rising 5.5% from October to 21.27 million metric tons, according to data from the oil ministry. WHY IT’S IMPORTANT India is the world’s third-largest consumer and importer of oil and the largest buyer of Russian seaborne crude, taking advantage of discounts …
India’s fuel demand hits six-month peak in November Read More »
(Corrects paragraph 7 to say Maruti Suzuki ‘last week’ reported a 37% jump in November retail sales of four of its most affordable small cars, not ‘earlier this week’) Dec 8 (Reuters) – India’s retail vehicle sales by dealers are expected to remain steady in December, a dealers’ body said on Monday, driven by a …
Indian auto dealers expect sales to hold firm in December Read More »
Dec 8 (Reuters) – India’s market regulator on Monday launched a new risk and return verification agency to curb mis-selling of investment products and tighten supervision through digital audit trails and standardised reporting. Earlier this year, Reuters reported that the Securities and Exchange Board of India (SEBI) is seeking broader powers from the government to …
India’s market regulator launches return verification agency Read More »
By Dharamraj Dhutia and Jaspreet Kalra MUMBAI, Dec 8 (Reuters) – The Indian rupee may face renewed pressure this week as anaemic trade and investment flows continue to weigh on the currency, while the U.S. Federal Reserve’s policy decision will be the key macro cue for both the unit and government bonds. The rupee closed …
Rupee to stay under pressure, eyes Fed decision alongside bonds Read More »
Dec 8 (Reuters) – ICICI Prudential Asset Management Company is aiming for a valuation of up to 1.07 trillion rupees ($11.90 billion) in its initial public offering, according to a filing on Sunday, and has set a price band of 2,061 to 2,165 rupees per share. A joint venture between ICICI Bank and UK-based Prudential, …
India’s ICICI Prudential Asset Management targets $11.9 billion valuation in IPO Read More »
By Sethuraman N R MUMBAI, Dec 7 (Reuters) – India’s clean energy ministry on Sunday said it had not issued any advisory to pause or halt new financing for the sector. The clarification came after Reuters reported on Friday that the ministry had urged lenders to proceed slowly in financing new solar module plants because …
India says no advisory to stop clean energy funding Read More »
By Sethuraman N R NEW DELHI, Dec 7 (Reuters) – India does not have any immediate plans to add coal power generation capacity beyond 2035, a top power ministry official said on Sunday. “India wants to secure its energy requirements,” Pankaj Agarwal, secretary at the power ministry told Reuters on the sidelines of a power …
India has no immediate plans to add coal power capacity beyond 2035, official says Read More »
NEW DELHI, Dec 8 (Reuters) – A wave of flight cancellations by IndiGo, India’s largest airline, sparked a week of chaos and grounded tens of thousands of passengers, laying bare the risks of having a duopoly-like situation in the world’s fastest-growing aviation market. For years, IndiGo with a 65% domestic market share has helped Indians …
Analysis-Too big to fail? IndiGo crisis exposes risks in Indian aviation Read More »
