Reuters India Business

India’s Punjab National Bank eyes $1.96 billion bad loan recovery in FY25, CEO says

1 Feb 2025

By Siddhi Nayak MUMBAI (Reuters) – Punjab National Bank (PNB), India’s second largest state-run lender by assets, aims to recover bad loans worth 170 billion rupees ($1.96 billion) this financial year, with about one-third of that expected during the January-to-March quarter, its chief executive officer said. The New Delhi-based lender expects to recoup these funds …

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Oil ticks up after hours on possibility of lower US tariff on Canadian oil

1 Feb 2025

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose in aftermarket trading on Friday as U.S. President Donald Trump said he expects his administration to decrease proposed tariffs on Canadian oil from 25% to 10%, and to impose duties on oil and gas around Feb. 18, later than initially feared. U.S. West Texas Intermediate crude rose …

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Dollar advances after White House reiterates Trump tariff threats

31 Jan 2025

By Chibuike Oguh and Amanda Cooper NEW YORK (Reuters) -The U.S. dollar advanced against major currencies on Friday, while the Canadian dollar weakened and the Mexican peso edged higher after the White House reiterated that President Donald Trump will impose tariffs on Saturday. Reuters had earlier reported, citing sources familiar with the tariff deliberations, that …

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Gold surges past $2,800 as tariff threats reignite record rally

31 Jan 2025

By Anmol Choubey (Reuters) – Gold prices surpassed the key $2,800 mark for the first time on Friday, fuelled by a rush to safety following U.S. President Donald Trump’s tariff threats, which heightened concerns about global economic growth and inflationary pressures. Spot gold rose 0.3% to $2,801.29 per ounce by 01:41 p.m. ET (1841 GMT), …

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India’s ONGC misses Q3 profit estimates as lower realisations weigh

31 Jan 2025

(Reuters) – India’s Oil and Natural Gas Corp (ONGC) reported a third-quarter profit miss on Friday, as buoyant fuel demand failed to cushion the explorer from lower crude realisations. The state-owned firm’s standalone profit fell 17% to 82.40 billion rupees ($952 million) in the October-December period, and came far below analysts’ average expectation of 179.31 …

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India’s LIC Housing Finance beats Q3 profit view on improving asset quality

31 Jan 2025

(Reuters) – India’s LIC Housing Finance reported a bigger-than-expected third-quarter profit on Friday, helped by healthy asset quality. The company said its profit after tax for the quarter ended Dec. 31 rose 23% to 14.32 billion rupees ($165.4 million). Analysts had expected a profit of 12.85 billion rupees, according to data compiled by LSEG. LIC …

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India’s MedPlus Health Q3 profit triples on strong OTC drug demand

31 Jan 2025

(Reuters) – India’s MedPlus Health Services reported a surge in third-quarter profit on Friday, driven by store expansions and strong demand for over-the-counter medicines. The company’s consolidated net profit more than tripled to 458.8 million rupees ($5.3 million) in the quarter ended Dec. 31. MedPlus continued to benefit from strong sales of products under its …

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India market regulator extends derivatives trading ban on some grains, food items

31 Jan 2025

(Reuters) – India’s markets regulator on Friday extended the suspension in trading of derivative contracts of some grains and food items until the end of March. The grains and edible items included in Friday’s directive were paddy, wheat, chickpeas (chana), mustard seeds, soyabean, crude palm oil and moong. The Securities and Exchange Board of India …

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