Reuters India Business

India’s OneSource eyes weight-loss drug boost to order book

12 Jun 2025

By Rishika Sadam (Reuters) -Indian contract drug manufacturer OneSource Specialty Pharma expects strong growth in its order book over the next three years, driven by the global boom in weight-loss drugs, its top executive said on Monday. Global drugmakers, including generic drug manufacturers in India, are racing to develop their versions of blockbuster injectable obesity …

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India shares stumble on trade uncertainty, Middle East tensions

12 Jun 2025

By Bharath Rajeswaran (Reuters) -Indian shares declined on Thursday as lingering uncertainty around the U.S.-China trade deal and mounting geopolitical tensions in the Middle East dented risk appetite. The Nifty 50 fell 1.01% to 24,888.2, snapping a six-session winning streak, while the BSE Sensex lost 1% to 81,691.98. The broader small-caps and mid-caps both fell …

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Top Wall Street bank pitches options play to ride potential Indian rupee rally to 83

12 Jun 2025

By Nimesh Vora MUMBAI (Reuters) -Goldman Sachs’ sales and trading desk is recommending an options play on the Indian rupee that will pay off if the South Asian currency rallies to 83 per U.S. dollar over the next nine months. The call — effectively a bet on a 3% appreciation in the rupee from its …

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India’s May palm oil imports surge 84% m/m to hit six-month high

12 Jun 2025

By Rajendra Jadhav and Anmol Choubey MUMBAI (Reuters) -India’s palm oil imports jumped to a six-month high in May, driven by low inventories and the tropical oil’s price discount to rival soyoil and sunflower oil, which prompted refiners to boost purchases, an industry body said on Thursday. Higher imports of palm and soyoil by India, …

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Gold gains as US-China trade deal jitters persist; inflation data eyed

12 Jun 2025

By Anushree Mukherjee (Reuters) – Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key U.S. inflation data for clues on the Federal Reserve’s interest rate trajectory. Spot gold XAU= was up 0.3% to $3,330.69 an ounce at 1122 GMT. U.S. gold futures GCcv1 …

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Interbank traders turn focus to dollar-rupee forwards as spot treads water

12 Jun 2025

By Jaspreet Kalra MUMBAI (Reuters) – India’s FX market traders have increased activity in the dollar-rupee forwards market as spot market price action continues to be rangebound on two-sided client flows and the lack of firm cues. The rupee has hovered in the 85.30 to 86.02 range against the U.S. dollar over June so far …

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India to tighten remittance rules, bar offshore time deposits, sources say

12 Jun 2025

By Shubham Batra MUMBAI (Reuters) -India’s central bank plans to tighten rules for overseas remittances by resident Indians, barring them from holding foreign currency deposits with lock-in periods, two government sources said. The Reserve Bank of India (RBI) will amend regulations to prevent overseas transfers from being used to park money in time deposits or …

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India’s Paytm slumps after government says reports of UPI transaction fees false

12 Jun 2025

(Reuters) -Shares of digital payments firm Paytm slumped as much as 10% on Thursday after India’s finance ministry said that reports about the introduction of fees on the popular unified payments interface (UPI) transactions were false and baseless. The shares posted their sharpest intraday fall since February 2024, before coming off lows to trade down …

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Adani eyes airport unit IPO by 2027, accelerates $100 billion capex pace, Bloomberg News reports

12 Jun 2025

(Reuters) -Billionaire Gautam Adani’s group is planning to list its Adani Airports unit by 2027, as part of a growth plan that requires investing $100 billion across businesses over the next few years, Bloomberg News reported on Wednesday. The unit is set to be spun off and listed by March 2027, the report said, citing …

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OpenAI has discussed raising money from Saudi Arabia, Indian investors, The Information reports

12 Jun 2025

(Reuters) -ChatGPT maker OpenAI has talked to Saudi’s PIF, India’s Reliance Industries and existing shareholder United Arab Emirates’ MGX about its $40 billion financing, The Information reported on Wednesday. The investors could put in at least hundreds of millions of dollars each, the report said, citing people familiar with the fundraise. OpenAI is looking to …

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