Reuters India Business

By Indradip Ghosh BENGALURU (Reuters) – India’s business activity extended its robust growth streak in August as a stronger services industry offset a slight slowing in manufacturing expansion, according to a survey that indicated price pressures also were easing. Those findings suggest India will hold on to its title of fastest-growing major economy over coming …

India business activity extends robust growth streak in August, PMI shows Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was marginally weaker on Thursday amid a pause in the rally in Asian peers, while forward premiums rose after Federal Reserve minutes and downward revisions to U.S. payrolls made it almost The rupee was quoted at 83.9425 to the U.S. dollar at 10.36 a.m. IST, down …

Rupee dips; forward premiums rise amid near certainty on Fed rate cuts Read More »

BENGALURU (Reuters) – Indian digital payments firm Paytm on Wednesday proposed to cap salaries of its non-executive independent directors, as it looks to save costs amid widening losses. Paytm’s independent board members will earn a maximum annual compensation of up to 4.8 million rupees ($57,228), the company said in a release, adding the reduced pay …

India’s Paytm proposes to cap salaries for certain board members Read More »

BENGALURU (Reuters) – U.S. private equity firm General Atlantic on Wednesday sold its entire stake worth 10.69 billion rupees ($127.40 million) in India’s PNB Housing Finance, stock exchange data showed. Shares of the mortgage lender closed 10.1% higher on Wednesday. The company, which had a 5.1% stake in PNB Housing as of June 30, sold …

General Atlantic exits India’s PNB Housing in $127 million deal Read More »

By Neha Arora NEW DELHI (Reuters) – India continued to be a net importer of steel during the first four months of the current fiscal year beginning April, with China as its biggest supplier of the alloy, according to provisional government data seen by Reuters. India imported 2.69 million metric tons of steel between April …

India remains net steel importer in April-July as Chinese shipments rise Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened on Wednesday pressed by importers’ dollar bids, while forward premiums nudged up with traders anticipating a sharper rise if revised U.S. payroll data rekindles concerns about an economic slowdown. The rupee was at 83.86 against the U.S. dollar as of 10:15 a.m. IST, compared to …

Rupee slips; forward premiums biased higher ahead of US payroll revisions Read More »

By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares took a breather on Wednesday after a four-session rally, mirroring the move in other Asian markets, while analysts expect traders to buy the dip through the day. The NSE Nifty 50 index was off a mere 0.04% at 24,691.42 as of 10:20 a.m. IST, and …

Indian shares pause after four-day rally Read More »