Reuters India Business Archives - Page 349 of 1191

India’s quick commerce sector made two-thirds of all 2024 e-grocery orders, report says

27 Mar 2025 27 Mar 2025

(Reuters) – India’s quick commerce sector accounted for over two-thirds of all e-grocery orders last year, with its total market share growing about five times to $6-7 billion from 2022, a report by consultancy firm Bain and e-commerce giant Flipkart showed. The industry, which is dominated by the likes of Zomato-owned Blinkit, also accounted for …

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India’s markets regulator probes insider trading at IndusInd Bank, ET reports

27 Mar 2025 27 Mar 2025

(Reuters) – India’s market regulator is investigating possible insider trading among senior officials of IndusInd Bank amid significant accounting lapses by the lender, the Economic Times reported on Thursday. The Mumbai-based lender reported earlier this month that it had discovered accounting discrepancies in the way it booked currency derivatives, going back at least six years, …

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Euro drops to three-week low before auto tariff announcement

26 Mar 2025 26 Mar 2025

By Karen Brettell NEW YORK (Reuters) -The dollar hit a three-week high against the euro and gained on the yen on Wednesday as traders awaited an announcement from U.S. President Donald Trump on auto tariffs. Traders worry that the trade levies will dent U.S. growth and potentially reignite inflation but are also mulling whether the …

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Gold slips as dollar, Treasury yields tick higher

26 Mar 2025 26 Mar 2025

By Brijesh Patel (Reuters) – Gold prices eased on Wednesday as the dollar and U.S. bond yields climbed, although concerns over the Trump administration’s fresh tariffs kept prices above $3,000 per ounce level. Spot gold was down 0.1% at $3,015.5 an ounce by 11:08 a.m. ET (1508 GMT). U.S. gold futures fell 0.1% to $3,022.10. …

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Russian oil freight rates from Baltic ports to India ease as more Western shipowners return

26 Mar 2025 26 Mar 2025

MOSCOW (Reuters) – Freight rates for Russian oil supplies from its Baltic ports to India are declining from recent record highs amid an increase in offers from Western shipowners after Urals crude oil prices fell below a price cap of $60 per barrel, two traders said. The Group of Seven countries, in coordination with the …

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BofA raises gold price forecasts for 2025, 2026

26 Mar 2025 26 Mar 2025

(Reuters) – Bank of America (BofA) has raised its gold period average forecasts for this year and next, while highlighting that uncertainty arising from U.S. trade policies will continue to lend support to prices in the near-term. BofA now expects gold to trade at $3,063 per ounce (oz) in 2025 and $3,350/oz in 2026, it …

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Profit-booking slams brakes on Indian stocks’ rally, with tariffs looming

26 Mar 2025 26 Mar 2025

By Vivek Kumar M and Bharath Rajeswaran (Reuters) – India’s benchmark indexes snapped their seven-session rally on Wednesday as investors booked profits ahead of potential U.S. tariff announcements next week. The NSE Nifty 50 fell 0.77% to close at 23,486.85 and the BSE Sensex lost 0.93% to 77,288.5, with both indexes turning negative for the …

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India’s Ashok Leyland says may shut loss-making e-bus plant in UK

26 Mar 2025 26 Mar 2025

(Reuters) – Indian heavy vehicles maker Ashok Leyland said on Wednesday that its electric bus unit Switch Mobility could shutter one of its British plants, which would swing the unit’s UK operations to profitability “soon”. The company said it would review the feasibility of the plant in Sherburn, North Yorkshire in a consultation process with …

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India’s Reliance to stop buying Venezuelan oil over US tariffs, sources say

26 Mar 2025 26 Mar 2025

NEW DELHI (Reuters) – India’s Reliance Industries, operator of the world’s biggest refining complex, will halt Venezuelan oil imports after the United States announced a 25% tariff on nations buying crude from the South American nation, three sources said on Wednesday. The Indian conglomerate, which last year obtained approval from U.S. authorities to purchase oil …

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India’s Wipro wins $650 million deal from British insurer Phoenix Group

26 Mar 2025 26 Mar 2025

BENGALURU (Reuters) – Wipro, India’s No.4 IT services provider, won a 10-year deal worth 500 million pounds ($645.4 million) from British insurer Phoenix Group, the company said on Wednesday, announcing its second mega deal this financial year. Mega deals, which are typically worth more than $500 million, are key revenue drivers for IT services companies. …

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