Reuters India Business

MUMBAI (Reuters) – The Reserve Bank of India likely intervened to support the rupee before the open of the local spot market ahead of a closely-watched monetary policy decision on Friday, four traders told Reuters. The rupee was quoting at 87.56-87.58 on the interbank matching system around 08:45 a.m. IST, but strengthened quickly to open …

Indian central bank likely intervened to support rupee ahead of rate decision, traders say Read More »

By Siddhi Nayak MUMBAI (Reuters) – The Reserve Bank of India’s (RBI) first interest rate cut in nearly five years will not be enough to spur loan growth since the tight liquidity conditions will prevent banks from passing on the benefits, three bankers said on Friday. The RBI cut rates by 25 basis points to …

Indian banks needs more than a rate cut to boost lending, bankers say Read More »

By Bharath Rajeswaran (Reuters) -Indian benchmark indexes fell on Friday as a widely expected interest rate cut failed to excite investors who were expecting more measures from the central bank to boost liquidity. The Nifty 50 fell 0.18% to close at 23,559.95, while the BSE Sensex shed 0.25% to 77,860.19. Financial stocks were the biggest …

Indian stocks dip as rate cut leaves investors wanting more Read More »

(Reuters) -Indian automaker Mahindra & Mahindra reported a 19% rise in quarterly profit on Friday, driven by strong sport utility vehicles sales and said it would separately account and report the low-margin earnings of its electric SUVs from the current quarter. The ‘Scorpio’ SUV manufacturer reported a profit of 29.64 billion rupees ($339 million), up …

India’s Mahindra & Mahindra posts 19% rise in quarterly profit on strong SUV demand Read More »

By Praveen Paramasivam CHENNAI (Reuters) – About 500 workers at Samsung’s plant in south India are holding a sit-in to protest against the suspension of three employees, and the company has deployed contract workers to fill the gap, two sources said. It was the second significant labour dispute in less than six months at the …

About 500 Samsung India factory workers hold sit-in in latest dispute, sources say Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Friday after struggling for most of the week as global markets were jolted by fears of a trade war and foreign portfolio outflows persisted, pushing the rupee to its lifetime low past the 87 handle. The Reserve Bank of India cut its key interest …

Rupee sidesteps RBI rate cut to end up but posts worst week in over 2 years Read More »