By Sarah Qureshi and Ashitha Shivaprasad (Reuters) – Gold prices rose 2% on Friday and were headed for their best week in six, as investors sought the safe-haven asset amid renewed tariff threats from U.S. President Donald Trump and a weaker dollar. Spot gold gained 2% to $3,359.96 an ounce by 1219 ET (1618 GMT). …
Gold rises 2% on safe haven flows after Trump’s renewed tariff threats Read More »
(Reuters) -Bajaj Auto has entered a call option agreement with Pierer Group that will allow it to take a controlling stake in troubled Austrian motorcycle maker KTM, the Indian automaker said on Friday. If fully exercised, this option would lead to the exit of Austrian businessman Stefan Pierer and his Pierer Group from KTM, marking …
India’s Bajaj Auto enters call option deal to buy controlling stake in KTM Read More »
By Swati Bhat and Ira Dugal MUMBAI (Reuters) – The Reserve Bank of India’s board approved the transfer of 2.69 trillion rupees ($31.53 billion) as surplus to the federal government for the fiscal year ended March as it opted to raise its contingency risk buffer under a revised economic capital framework, it said on Friday. …
India cenbank’s record surplus of 2.69 trillion rupees to centre to boost fiscal space Read More »
By Manvi Pant and Anuran Sadhu (Reuters) -India’s top steelmaker JSW Steel expects improved earnings in the current quarter due to slightly higher steel prices, it said on Friday, after fourth-quarter profit missed estimates on weak pricing. “Price increases in March and April will reflect in first-quarter realisations,” said CEO Jayant Acharya in a post-earnings …
India’s JSW Steel expects improved earnings in current quarter after profit miss Read More »
By Aftab Ahmed NEW DELHI (Reuters) -India will push the Financial Action Task Force (FATF), a global financial crime watchdog, to add arch-rival Pakistan back to its “grey list”, and oppose upcoming World Bank funding to Islamabad, a top government source in New Delhi said on Friday. India announced a slew of measures as retribution …
India to push for international financial measures against Pakistan, source says Read More »
(Reuters) -Indian truck and bus maker Ashok Leyland reported a higher-than-expected rise in fourth-quarter profit on Friday thanks to healthy demand for its margin-boosting, heavier load-carrying models. The Hinduja Group-owned automaker reported a profit of 12.46 billion rupees ($146 million) in the quarter ended March 31, a 38.4% rise over the previous year. Analysts, on …
(Reuters) -India’s Tata Consultancy Services is conducting an internal investigation to determine whether it was the gateway for a cyberattack on UK’s Marks and Spencer that compromised customer data and disrupted the retailer’s operations, FT reported on Friday. The Indian IT company, which has provided services to M&S for more than a decade, hopes to …
Tata Consultancy Services carries out internal probe into M&S hack, FT reports Read More »
By Vivek Kumar M and Bharath Rajeswaran (Reuters) -India’s equity benchmarks rose on Friday to beat major Asian peers as easing U.S. Treasury yields lifted global investor sentiment. The NSE Nifty 50 rose 0.99% to 24,853.15, while the BSE Sensex gained 0.95% to 81,721.08, paring weekly losses. The Indian rupee posted its largest single-day gain …
Indian equity benchmarks top Asian gainers, erase weekly losses Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose sharply on Friday to post its best single-day gain in more than two years as worries over U.S. fiscal health and the impact of trade tariffs continued to weigh on the dollar, sparking a rally in emerging market currencies. The rupee closed at 85.2125 against …
Rupee soars with Asian peers to post best day in over two years Read More »
(Reuters) -Devyani International, which operates KFC and Pizza Hut restaurants in India, posted a wider loss in the fourth quarter on Friday, as rising costs took a toll. The franchisee reported 147.4 million Indian rupees ($1.7 million) in consolidated net loss for the three months ended March 31, compared to a loss of 74.7 million …
KFC India operator Devyani widens losses in fourth quarter as expenses bite Read More »
