By Vivek Mishra and Anant Chandak BENGALURU (Reuters) – The Reserve Bank of India (RBI) is set to cut its main policy rate on Feb. 7 followed by just one more cut next quarter, according to economists polled by Reuters, who have kept their views largely unchanged from a month ago. The steady outlook comes …
By Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee slipped to an all-time low on Friday, as the threat of U.S. trade tariffs under President Donald Trump weighed on most Asian currencies, while the Reserve Bank of India likely stepped in to support the local unit, traders said. The rupee dipped to 86.65 per dollar, eclipsing …
Rupee hits record low amid worries about US tariffs; RBI likely steps in Read More »
By Anmol Choubey (Reuters) – Gold prices rose to hit a lifetime high on Thursday, sparked by safe-haven demand due to U.S. tariff threats, while the focus was also on a crucial inflation report for clues on the Federal Reserve’s policy path. Spot gold was up 1.3% at $2,794.42 per ounce, as of 1:57 p.m. …
Gold hits record high on safe-haven demand amid tariff threats Read More »
By Munsif Vengattil and Nandan Mandayam (Reuters) – India’s IT minister has praised Chinese startup DeepSeek for shaking up the sector with its low-cost AI assistant, likening its frugal approach to his government’s efforts to build a localized AI model. India announced a $1.25 billion AI investment in March, dubbed IndiaAI mission, which includes funding for AI …
BENGALURU (Reuters) – India’s central bank on Thursday said it has filed an application with a company tribunal to initiate bankruptcy proceedings against Aviom India Housing Finance. The move comes days after the Reserve Bank of India (RBI) superseded the board of the housing finance company due to governance concerns and payment defaults. It did …
India’s central bank files bankruptcy application against Aviom India Housing Finance Read More »
(Reuters) – JK Cement said on Thursday four of its workers were killed in an accident at one of its plants in central India. The accident occurred at the cement maker’s Panna plant in the state of Madhya Pradesh, which has been undergoing an expansion. Fourteen more workers had minor injuries, the company said. While …
JK Cement says central India plant accident kills four workers Read More »
(Reuters) – India’s Tata Consumer Products reported a smaller-than-expected third-quarter profit on Thursday, hurt by elevated domestic tea prices that squeezed the company’s margins. The Tata group-owned company posted a consolidated net profit of 2.79 billion rupees ($32.2 million) for the October-December quarter, which was flat year-on-year. Analysts, on average, had expected a profit of …
India’s Tata Consumer Products misses Q3 profit estimates on higher tea prices Read More »
(Reuters) – India’s PB Fintech reported a sharp jump in third-quarter profit on Thursday, aided by rising sales of insurance policies. The company’s consolidated net profit rose 88% from a year earlier to 715.4 million rupees ($8.26 million) for the three months ended Dec. 31. Analysts said PB Fintech continues to benefit from increasing demand …
India’s PB Fintech reports sharp rise in Q3 profit on insurance boost Read More »
(Reuters) – Indian steelmaker Jindal Steel and Power reported a drop third-quarter profit on Thursday, hurt by muted demand and weak steel prices. The company reported consolidated net profit after tax of 9.51 billion rupees (nearly $110 million), down nearly 51% from a year ago. Revenue from operations was largely flat at 117.51 billion rupees, …
India’s Jindal Steel and Power Q3 profit slumps on weak demand Read More »
(Reuters) -India’s Larsen & Toubro (L&T), on Thursday, reported a profit that fell short of market estimates in a seasonally weak quarter but said its orders hit a record high due to strength in its international business, while the domestic economy slowed. L&T, considered a bellwether for India’s infrastructure spending due to the scale and …
India’s L&T misses Q3 earnings view but new orders jump to record Read More »
