Reuters India Business

BENGALURU (Reuters) – India’s Apollo Tyres missed first-quarter profit expectations on Wednesday, hurt by weak domestic demand and higher rubber costs. The tyre maker’s consolidated profit fell about 24% to 3.02 billion rupees in the April-June period, missing analysts’ average estimate of 3.86 billion rupees, per LSEG. Revenue rose 1.5% to 63.35 billion rupees. KEY …

India’s Apollo Tyres misses Q1 profit view on weaker domestic demand, higher costs Read More »

By Anant Chandak and Vivek Mishra BENGALURU (Reuters) – India’s consumer price inflation likely eased in July to below the Reserve Bank of India’s 4.0% medium-term target for the first time in nearly five years, thanks to last year’s high base, according to a Reuters poll of economists. Rising food costs, especially for vegetables, and …

India’s July inflation likely dipped below RBI’s target, high base effect at play: Reuters poll Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares opened higher on Wednesday, in line with Asian peers, as traders reassessed fears of a U.S. recession, and domestic realty stocks jumped after the government relaxed its new property tax rules. The NSE Nifty 50 index rose 0.96% at 24,225.85, as of 9:50 a.m IST, and the S&P …

Indian shares rise tracking Asian peers; realty stocks advance Read More »

(This Aug. 6 story has been corrected to say ninth consecutive meeting, not eighth, in paragraph 6) By Ira Dugal and Swati Bhat MUMBAI (Reuters) – The Indian central bank’s rate setting panel faces another food-driven spike in inflation as it meets a final time ahead of the exit of the committee’s external members in …

Inflation target evades India cenbank’s rate panel as rejig looms Read More »

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India has asked some large banks to not add to their existing positions against the rupee in a bid to support the currency which has fallen to all-time lows for three straight days, four bankers told Reuters. Officials from the RBI’s financial …

Exclusive: India cenbank asks top banks to refrain from large trading bets against rupee, sources say Read More »

BENGALURU (Reuters) – India’s markets regulator on Tuesday proposed tighter disclosures for offshore derivative instruments (ODIs) and said those products can only have cash equity and debt as their underlying exposure. The Securities and Exchange Board of India (SEBI) in a consultation paper proposed that rules for disclosure of concentrated holdings shall apply to foreigners …

India proposes tighter disclosures for offshore derivative instruments Read More »

(Reuters) -The Indian government has relaxed new property tax rules it proposed just two weeks ago, after criticism that the changes added to an already heavy financial burden on the middle class. On July 23, India lowered the long-term capital gains tax on real estate to 12.5% from 20%, but dropped a benefit that allowed …

Indian government eases new property tax rules after backlash Read More »