Reuters India Business Archives - Page 322 of 1191

India’s interest rate setters back growth-supportive monetary policy

23 Apr 2025 23 Apr 2025

By Swati Bhat and Siddhi Nayak MUMBAI (Reuters) -Inflation in India is expected to stay near target this fiscal year, providing space to support growth through further monetary easing, members of the country’s rate-setting panel said in the minutes of April policy that were released on Wednesday. India’s Monetary Policy Committee (MPC), which consists of …

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India’s Tata Consumer beats revenue estimates on robust volumes, price hikes

23 Apr 2025 23 Apr 2025

(Reuters) -India’s Tata Consumer Products beat quarterly revenue estimates on Wednesday, on higher sales volume and price hikes in its domestic food and beverage segment. Profit before tax and exceptional items, however, fell 5% year-on-year, due to higher tea prices and acquisition-related expenses. Prices of tea, which makes up a significant portion of Tata Consumer’s …

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India’s Bajaj Housing Finance posts bigger quarterly profit on home loan demand

23 Apr 2025 23 Apr 2025

(Reuters) -India’s Bajaj Housing Finance reported a rise in fourth-quarter profit on Wednesday, supported by strong credit growth as robust demand for premium homes and rising property prices continue to power the country’s real estate market. The country’s biggest home loan financier by market value reported a 54% jump in profit to 5.87 billion rupees …

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World Bank cuts India’s growth forecast amid global uncertainties

23 Apr 2025 23 Apr 2025

NEW DELHI (Reuters) -The World Bank cut its economic growth forecast for India on Wednesday, citing increased uncertainty in the global economy that will dim prospects for most South Asian nations. The World Bank lowered its forecast for India by 0.4 percentage points to 6.3% for the fiscal year that started on April 1, from …

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Rupee logs worst day in 2 weeks on dollar strength, position unwinding

23 Apr 2025 23 Apr 2025

By Siddhi Nayak MUMBAI (Reuters) -The Indian rupee logged its steepest fall in two weeks, pressured by a recovery in the U.S. dollar index and as traders unwound long positions on the local unit after it failed to climb above a key level. The rupee ended 0.3% down at 85.42, against 85.1875 at previous close. …

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IT stocks power India’s stocks to their best close of 2025

23 Apr 2025 23 Apr 2025

By Vivek Kumar M and Bharath Rajeswaran (Reuters) -India’s benchmark indexes ended Wednesday at their highest levels in 2025, led by a rally in information technology stocks after HCLTech’s encouraging forecast and hopes of a de-escalation in the U.S.-China trade war. The Nifty 50 ended 0.67% higher at 24,328.95 and the BSE Sensex added 0.65% …

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Dutch firm Vopak gets India regulator nod for joint venture’s public listing

23 Apr 2025 23 Apr 2025

By Anna Peverieri and Alban Kacher (Reuters) -Dutch tank storage group Vopak has received conditional approval for the initial public offering (IPO) of its Indian joint venture Aegis Vopak (AVTL) from the country’s markets regulator, the group said on Wednesday. Vopak said last November that AVTL – a joint venture between India’s Aegis Logistics and …

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Top Indian funds bet on domestic sectors to lead market rebound amid global jitters

23 Apr 2025 23 Apr 2025

By Bharath Rajeswaran and Shubham Batra (Reuters) -India’s top investment funds are pivoting inward, betting on the resilience of the domestic economy and a rebound in corporate earnings, while retreating from export-driven bets amid escalating global trade tensions. The NSE Nifty 50 index recovered from a tariff-driven slump earlier this month, turning positive for 2025 …

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India’s BluSmart appoints Grant Thornton for a forensic audit, sources say

23 Apr 2025 23 Apr 2025

By Aditya Kalra NEW DELHI (Reuters) -Indian electric cab service BluSmart has appointed Grant Thornton for a forensic audit after a regulatory investigation found its co-founder allegedly diverted and misused funds which were meant to buy cars, two people with direct knowledge said. A rival to Uber and India’s Ola, BluSmart became hugely popular with …

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Foreigners betting on India rate cuts lap up offshore dollar-rupee swaps

23 Apr 2025 23 Apr 2025

By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) -Foreign investors are piling into offshore dollar/rupee non-deliverable swaps (NDS) as that is a more attractive trade than overnight index swaps to bet on the Indian central bank lowering interest rates further, traders said. The spread between the 1-year NDS and the rupee non-deliverable overnight index swaps …

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