By Anjana Anil (Reuters) – Gold prices pared some losses on Wednesday as bets that the U.S. Federal Reserve will cut rates rose after weaker-than-expected first quarter U.S. growth. Spot gold was down 0.2% at $3,308.32 an ounce at 1:58 a.m. ET (1758 GMT), but was on track to log its fourth consecutive monthly gain, …
Gold pares losses on rate cut hopes after weaker US economic data Read More »
By Yagnoseni Das (Reuters) -Hexa Climate Solutions, backed by private equity firm I Squared Capital, has acquired Finland-based Fortum’s Indian renewables portfolio and plans to invest $500 million to expand its clean energy projects. The deal includes a 100% stake in state-owned Fortum’s India unit, a 206 MW commercial and industrial renewables portfolio, a 600 …
Hexa Climate buys Fortum’s India renewables assets; to invest $500 million Read More »
(Reuters) -India’s Jindal Steel and Power reported a surprise loss in the fourth quarter on Wednesday, due to one-off impairment charges related to its Australia and Madagascar assets, and weak steel prices. The company reported a consolidated net loss of 3.39 billion rupees ($40.09 million), compared to a profit of 9.35 billion rupees last year. …
India’s Jindal Steel posts surprise loss on weak steel prices, impairment charges Read More »
By Rajendra Jadhav MUMBAI (Reuters) – Gold demand remained lower than normal on Wednesday during an Indian festival when buying gold is considered auspicious as the rally in prices to a record high prompted retail consumers to reduce purchases. Indians were celebrating Akshaya Tritiya, the second-biggest gold-buying festival after Dhanteras. “Footfalls in jewellery stores improved …
Record gold prices dampen demand during Indian festival Read More »
By Hritam Mukherjee (Reuters) -India’s JSW Infrastructure said on Wednesday it expects cargo volume growth to rise in fiscal year 2026, driven by domestic sectors’ resilience, while minimising concerns over U.S. tariff-led trade uncertainties. The port operator anticipates a 10% growth in volumes, Chief Executive Rinkesh Roy said in a post-earnings call, an increase from …
Indian port operator JSW Infra looks homeward to steer tariff-hit trade woes Read More »
(Reuters) -Indian Oil Corp, the country’s top refiner, reported a 50% jump in fourth-quarter profit on Wednesday, mostly helped by inventory gains, with the company looking to tap spot markets for more crude purchases. Standalone net profit surged to 72.65 billion Indian rupees ($858.57 million), compared with a profit of 48.38 billion rupees a year …
Indian Oil’s fourth-quarter profit jumps on inventory gains Read More »
By Siddhi Nayak MUMBAI (Reuters) -The top two executives at India’s IndusInd Bank resigned this week after an external investigation found they were responsible for improper derivative accounting, three sources familiar with the findings said. The bank’s CEO Sumant Kathpalia resigned on Tuesday taking “moral responsibility” for the lapses, a day after his deputy Arun …
Exits of top two at India’s IndusInd Bank followed external inquiry Read More »
(Reuters) -Indian thermal power firm Adani Power reported a 5% fall in fourth-quarter profit on Wednesday, hurt by lower tariff realisations and higher operating costs. The company, part of the billionaire Gautam Adani-led Adani Group, said its consolidated profit fell to 25.99 billion rupees ($307.2 million) in the three months ended March 31 from 27.37 …
India’s Adani Power fourth-quarter profit falls on lower tariffs, higher costs Read More »
By Nidhi Verma NEW DELHI (Reuters) -Indian Oil Corp has signed a five-year import deal with trader Trafigura to buy 2.5 million metric tons of liquefied natural gas (LNG) in a $1.3–$1.4 billion deal, Chairman A S Sahney said on Wednesday. Supplies under the deal would begin from the second half of this year, he …
Indian Oil signs five-year LNG deal with Trafigura, chairman says Read More »
By Anmol Choubey (Reuters) – Analysts in a quarterly Reuters poll have forecast an average annual gold price above $3,000 for the first time, with global trade friction and a swing away from the U.S. dollar powering demand. The poll of 29 analysts and traders returned a median forecast of $3,065 per troy ounce of …
Annual gold price forecast tops $3,000 for first time – Reuters poll Read More »
