(Reuters) – India’s Jindal Stainless reported a drop in second-quarter profit on Thursday, as falling steel prices offset a drop in input costs. The company’s consolidated profit after tax fell 20% to 6.09 billion rupees ($72.4 million) for the three months ended Sept. 30. The stainless steel maker’s net revenue came in at 97.77 billion …
India’s Jindal Stainless posts Q2 profit decline on lower steel prices Read More »
(Reuters) – India will sell onions from government reserves to bring down prices of the vegetable, consumer affairs secretary said on Thursday. India’s retail inflation in September accelerated to its highest in nine months, due to higher food prices, according to government data released on Monday. (Reporting by Mayank Bhardwaj, Writing by Ainnie Arif; editing …
India to sell onions from reserves to check prices Read More »
(Reuters) – Bajaj Auto’s shares tumbled 12% on Thursday after the Indian motorcycle maker said it anticipated weak festive season sales, a warning that slammed other automakers and also pulled down the broader market. India’s third-biggest motorcycle maker by sales said festive sales of motorcycles had grown only about 1%-2% so far this month, falling …
India’s Bajaj Auto slumps 12% on festive sales caution, drags broader market Read More »
By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – Millions of Indian retail traders are exploring alternative ways to earn profits ahead of stricter regulations on trading equity derivatives next month, but their transition is unlikely to be smooth, investors and brokers say. Derivatives trading in India has boomed in the past few years, with …
India equity option traders hunt for new playgrounds as tighter rules loom Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices eased on Tuesday after scaling an all-time high, while all eyes were on the U.S. interest rate decision that traders are betting may bring an outsized cut. Spot gold fell 0.2% at $2,577.40 per ounce by 0905 GMT after scaling an all-time high of $2,589.59 on Monday. U.S. …
Gold rally hits pause as Fed rate decision looms Read More »
BENGALURU (Reuters) – Reliance’s Jio users on Tuesday reported a network outage across India, according to outage tracking website Downdetector.com. More than 10,000 Jio users have reported the issue, according to Downdetector, which tracks outages by collating status reports from a number of sources, including user-submitted errors on its platform. Jio did not immediately respond …
Reliance Jio users report network outage across India, Downdetector shows Read More »
By Shivangi Acharya and Manoj Kumar NEW DELHI (Reuters) -India’s wholesale price index based inflation eased to a four month low of 1.31% in August, helped by falling costs of crude oil, steel and cement, although prices of food staples like potatoes and onions rose sharply. August wholesale inflation was lower than the 1.85% increase …
India’s August wholesale inflation cools to 1.31% as global oil prices fall Read More »
GUJARAT (Reuters) – India’s Tata Power plans to invest about 700-750 billion rupees ($8.95 billion) to expand its renewable energy capacity over the next five to six years, Chief Executive Officer Praveer Sinha said on Tuesday. The company expects 15 gigawatt of more renewable capacity addition by 2030, added Sinha. ($1 = 83.8250 Indian rupees) …
Tata Power to invest up to $9 billion to expand renewable energy capacity Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices extended gains to an all-time high on Monday, supported by a weaker dollar and the prospect of a big rate reduction by the U.S. Federal Reserve at its policy meeting this week. Spot gold was up 0.2% at $2,581.37 an ounce by 2:32 p.m. ET (1832 GMT), …
Prospect of big Fed rate-cut keeps gold at record levels Read More »
NEW DELHI (Reuters) – The head of India’s market regulator and her husband are answering allegations of conflict of interest raised by the main opposition Congress party, and the facts have to be “taken on board”, Finance Minister Nirmala Sitharaman said on Monday, Securities and Exchange Board of India chair Madhabi Puri Buch has faced …
