Reuters India Business

By Vivek Kumar M and Bharath Rajeswaran (Reuters) -India’s equity benchmarks snapped a four-session losing streak on Tuesday, as lower-than-expected domestic inflation data boosted expectations of further rate cuts this year by the central bank. The Nifty 50 closed 0.45% higher at 25,195.80 points and the BSE Sensex added 0.39% to 82,570.91. The blue-chip indexes …

India equity benchmarks rise as soft inflation data fuels RBI rate cut bets Read More »

By Jaspreet Kalra MUMBAI(Reuters) – The Indian rupee edged up on Tuesday, tracking gains in most Asian peers, as the dollar index dipped ahead of a key U.S. inflation reading, which is expected to provide cues on the Federal Reserve’s monetary direction. The rupee closed at 85.81 against the U.S. dollar, up 0.2% on the …

Rupee creeps higher alongside most Asian peers; US CPI print in focus Read More »

(Reuters) -India’s ICICI Prudential Life Insurance on Tuesday reported a 34% rise in first-quarter profit, helped by higher premiums from group policies and lower operating costs. The life insurer reported a profit after tax of 3.02 billion rupees ($35.2 million) for the quarter ended June 30, compared to 2.25 billion rupees a year before. Its …

India’s ICICI Prudential Life posts higher quarterly profit as premiums rise, costs fall Read More »

(Reuters) -Indian automakers’ car sales to dealers slid to an 18-month low in June, data from an industry body showed on Tuesday, amid weak demand in urban areas. Urban Indians have tightened discretionary spending for a better part of this year, with wage hikes lagging the growth seen in previous years. Car makers delivered 312,849 …

India’s car sales to dealers hit 18-month low in June, industry body data shows Read More »

(Corrects to remove incorrect reference to company not disclosing how much it intends to raise) (Reuters) -India’s markets regulator has approved an initial public offering by WeWork India Management [WEWO.NS], the domestic franchisee of the U.S. shared office space manager, according to a regulatory notice on Tuesday. WeWork India had filed draft papers for the …

India markets regulator approves WeWork franchisee’s IPO Read More »

(Reuters) -Shares of HCLTech fell as much as 4.3% on Tuesday, a day after India’s No. 3 software services provider lowered its annual operating margin forecast, dampening hopes of a rebound in client spending across the sector. HCLTech was the top loser on benchmark Nifty 50 index and the Nifty IT index, which were up …

India’s HCLTech slides on lower annual operating margin forecast Read More »