Reuters India Business

By Swati Bhat and Nimesh Vora MUMBAI (Reuters) -The Reserve Bank of India (RBI) has not materially changed its stance on exchange-traded rupee derivatives and neither has it asked brokerages for proof of their clients’ underlying forex exposure, two sources aware of the central bank’s thinking said. The RBI had said in January that from April, exchanges …

Exclusive-India cenbank’s stance on underlying exposure for FX derivatives unchanged, sources say Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Wednesday as dollar demand from domestic corporates ate into slight early gains supported by dollar inflows. The rupee was at 83.40 against the U.S. dollar as of 10:40 a.m. IST, barely changed from its close at 83.3850 in the previous session. The …

Rupee little changed, traders reckon RBI support key to prevent fall towards record low Read More »

By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares were muted on Wednesday, caught up in the Asia-wide weakness on rising concerns that the Federal Reserve may delay lowering interest rates and as consumer stocks declined. The blue-chip NSE Nifty 50 index was little changed at 22,451.6 as of 10:40 a.m. IST, while the …

Indian shares swept up in Asia-wide fears of delayed US rate cuts Read More »

By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) -India has asked global and domestic trade houses to avoid buying new-season wheat from local farmers to help the government-backed Food Corporation of India (FCI) procure large quantities to shore up its depleting reserves, sources said. India, the world’s biggest wheat consumer and grower after China, banned exports in …

Exclusive-India asks traders to avoid buying new-season wheat to shore up state stocks Read More »

BENGALURU (Reuters) -India’s Ultratech Cement said on Tuesday it would set aside 324 billion rupees ($3.89 billion) for ongoing capital expenditure over the next three years. The move follows increased deal-making in India’s cement industry since nearest rival Adani Group bought ACC and Ambuja Cements <ABUJ.NS>, as well as strong demand from the housing and …

India’s Ultratech Cement to set aside $3.9 billion for capex over three years Read More »

BENGALURU (Reuters) – India’s Zee Entertainment said on Tuesday its CEO Punit Goenka will take a 20% pay cut, days after downsizing workforce at its technology and innovation centre, as part of the company’s cost-cut drive. Goenka’s annual remuneration was 350.71 million rupees ($4.21 million) as of March 31 last year. Zee did not immediately …

Zee CEO Punit Goenka takes 20% pay cut in cost-cut push Read More »

BENGALURU (Reuters) – India’s National Stock Exchange (NSE) on Tuesday said it halved the lot size for trading derivatives contracts for the blue-chip Nifty 50 index to 25, and reduced the lot sizes for two other indexes as part of its periodic revision. The move comes at a time Indian benchmark indexes have been hitting …

India’s NSE halves lot size for Nifty 50 derivatives trading Read More »

By Scott Murdoch and M. Sriram SYDNEY/MUMBAI (Reuters) -Blackstone is exploring raising $300 million via an India IPO of the International Gemological Institute (IGI), less than a year after it acquired the company, amid booming stock markets in the region, three people familiar with the matter said. Blackstone acquired IGI for $570 million in May …

Blackstone eyes $300 million IPO of India diamond certification firm, sources say Read More »