By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – The Reserve Bank of India’s inaction to the rupee’s ongoing rally, which lifted it above 85, surprised market participants and sent traders scrambling to adjust positions after the central bank did not step in to absorb dollars as was expected. The rupee rose to a peak …
India rupee climbs past 85/USD, central bank inaction surprises Read More »
By Kashish Tandon (Reuters) -Indian pharmaceutical stocks fell 4.4% on Friday, wiping out gains from the previous session, after U.S. President Donald Trump threatened steep tariffs on the sector. “Pharma (tariffs) is going to be starting to come in, I think, at a level that you haven’t really seen before,” Trump told reporters aboard Air …
Trump’s latest tariff threat ends brief reprieve for Indian pharma stocks Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s $32 billion gems and jewellery industry is bracing for a sharp fall in exports as hefty U.S. tariffs will impede overseas sales to its biggest market, industry officials said. The United States slapped a 26% reciprocal tariff on India, dealing a blow to the South Asian country’s hopes …
With US tariffs, India’s jewellery exports set for sharp decline Read More »
MUMBAI (Reuters) – Indian lenders have suggested that the central bank move to an overnight liquidity infusion instrument from a longer duration tool and adopt a new benchmark for overnight rates, five sources aware of the matter said on Friday. “The 14-day repo has outlived its time and with 24-hour banking, we need daily liquidity …
MUMBAI (Reuters) -India’s central bank will cut rates three more times this year by 75 basis points as the economy’s growth outlook worsens due to import tariffs imposed by the United States, according to Citibank economists. Citibank’s latest forecast means it expects a total of 100 basis points in rate cuts for the year, in …
India central bank to cut rates three more times this year on tariff threat, Citi says Read More »
By Anmol Choubey (Reuters) – Gold prices trimmed losses on Thursday after falling over 2% from an all-time high, as a wider market selloff triggered by U.S. President Donald Trump’s import tariffs infected bullion traders. Spot gold fell 0.8% to $3,108.55 as of 11:27 a.m. EDT (1527 GMT) after earlier scaling a record high $3,167.57. …
Gold eases after record high on knock-on effect of wider selloff Read More »
(Reuters) – HDFC Bank, India’s biggest private lender by assets, said on Thursday its growth in deposits outpaced that of loans in the three months to March 31, compared with the preceding quarter. Deposits rose 5.9% to 27.15 trillion rupees ($318.5 billion), the Mumbai-based bank said, higher than the 2.5% rise in the October-December quarter. …
India’s HDFC Bank says growth in quarterly deposits outpaces loans Read More »
By Abhijith Ganapavaram NEW DELHI (Reuters) – India’s parliament on Thursday passed a landmark aviation bill that will make it easier for global aircraft leasing companies to repossess jets and engines when a carrier defaults on its payments, a big win for international lessors in a key market. India’s “Protection of Interests in Aircraft Objects” …
India’s parliament passes landmark bill in boost for aircraft lessors Read More »
(Reuters) – The Indian government plans to sell a stake of up to 4.83% in Mazagon Dock Shipbuilders, according to an exchange filing on Thursday. The government, which currently owns 84.83% of the company, is looking to sell 11.4 million shares representing a stake of 2.83% with an option to sell an additional 2%. The …
India government plans to sell 4.8% stake in Mazagon Dock Shipbuilders Read More »
By Aftab Ahmed, Manoj Kumar and Shubham Batra NEW DELHI (Reuters) – India said on Thursday it was studying the impact of the 27% tariff slapped by the U.S. on its imports and vowed to push for a trade deal this year, signalling a conciliatory tone despite failing to get relief from President Donald Trump’s …
India says studying impact of 27% US tariff, vows to push trade deal Read More »
