By Nidhi Verma NEW DELHI (Reuters) – India’s Hindustan Petroleum Corp (HPCL) has signed an initial pact for sourcing gas for utility company NTPC Ltd, HPCL Chairman Rajneesh Narang said on Wednesday. The two companies will explore collaboration for liquefied natural gas (LNG) sourcing as India’s gas-based power generation rises during summers, he said. “We …
India’s HPCL signs agreement to source LNG for NTPC Read More »
By Bharath Rajeswaran (Reuters) – Investors in Indian mutual funds pivoted towards the safety of largecap stocks and gold exchange traded funds (ETF) in January as markets turned volatile, data released on Wednesday showed. Inflows into mutual fund schemes investing in largecap stocks jumped 52.3% to 30.63 billion rupees in January, the second-highest monthly inflow …
India’s mutual fund investors pivot to safety of largecap stocks amid market slide Read More »
(Reuters) – India’s Ashok Leyland reported a bigger-than-expected third-quarter profit on Wednesday as a rise in exports more than offset sluggish domestic demand for its trucks and buses. Shares of the Hinduja Group flagship company rose 4.4% after results. Its standalone profit rose 31.3% to 7.63 billion rupees ($87.83 million) in the three months ended …
India’s Ashok Leyland beats quarterly profit estimates on higher exports Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian central bank’s unexpected and decisive intervention in the foreign exchange markets over the past two days, worth as much as $11 billion by one estimate, has reduced the bearish bias on the currency. The Reserve Bank of India’s (RBI) intervention was brought on by a build-up in …
RBI’s surprise, outsized intervention eases bearish bias on rupee Read More »
(Reuters) – India’s Hindustan Aeronautics Ltd (HAL) posted a jump in third-quarter profit on Wednesday, driven by sustained demand for its aircraft from the country’s defence ministry. The state-owned fighter jet manufacturer’s consolidated net profit rose 14% to 14.40 billion rupees ($165.74 million) for the three-month period ended December 31. The ordering activity in the …
India’s HAL posts quarterly profit jump on strong fighter jet demand Read More »
By Rajendra Jadhav and Anushree Mukherjee MUMBAI (Reuters) – India’s palm oil imports in January fell to their lowest in nearly 14 years as refiners turned to cheaper soyoil, driven by negative refining margins for palm oil, a leading trade body said on Wednesday. Lower palm oil imports by India, the world’s biggest buyer of …
India’s palm oil imports hit 14-year low as soyoil rises Read More »
By Shariq Khan NEW DELHI (Reuters) -India’s natural gas consumption is set to jump 60% between 2023 and 2030, doubling the country’s need for liquefied natural gas imports, as domestic output is expected to grow much more slowly than demand, the International Energy Agency said on Tuesday. Rapid urbanisation and industrialisation are set to transform …
India gas demand to surge by 2030, doubling LNG imports, says IEA Read More »
By Swati Bhat and Ira Dugal MUMBAI (Reuters) – India’s new central bank chief Sanjay Malhotra is likely to take a growth-supportive approach over the next few months, as he joins Prime Minister Narendra Modi’s government in its efforts to pull the economy out of a slowdown. Malhotra, who took over from Shaktikanta Das in …
Analysis-India’s new cenbank chief joins Modi’s effort to regain lost growth Read More »
By Siddhi Nayak and Ira Dugal MUMBAI (Reuters) – State Bank of India (SBI), the country’s top lender by assets, expects the industry’s concerns over retail borrowers defaulting on small-ticket loans to ease on the back of tighter credit reporting rules, its chairman said. In January, India’s central bank mandated that credit bureaus update borrowers’ …
State Bank of India sees sector’s personal loan woes easing on tighter credit rules Read More »
BENGALURU (Reuters) – U.S.-based chip toolmaker company Lam Research said it will invest over 100 billion rupees ($1.2 billion) in the next few years in India’s southern Karnataka state, the latest boost to the nation’s plans to bolster its semiconductor ecosystem. During an ‘Invest Karnataka’ event on Tuesday, Lam Research said it has signed a …
US chip toolmaker Lam Research to invest over $1 billion in India Read More »
