(Corrects paragraphs 1 and 4 to show Russian’s share remained unchanged at about 36% in 2024, not dipped) By Nidhi Verma NEW DELHI (Reuters) – OPEC’s share in India’s crude oil imports edged up in 2024, rising for the first time in nine years, while top supplier Russia’s share remained steady, data obtained from trade …
OPEC’s share in India’s annual oil imports rises after 8-year drop Read More »
By Indranil Sarkar (Reuters) – British rock-band Coldplay has partnered with Indian billionaire Mukesh Ambani’s broadcast venture to livestream one of its two upcoming concerts in Ahmedabad, as international artists step up efforts to reach Indian fans. Tens of thousands of people are set to attend the Coldplay concert in the western state of Gujarat …
Ambani venture to livestream Coldplay show in Ahmedabad Read More »
By Ashna Teresa Britto and Siddhi Nayak (Reuters) -Shares of Axis Bank fell to a 14-month low on Friday, a day after the lender missed profit estimates on slower loan growth, higher bad loan provisions, and forecast that retail asset quality would take a few more quarters to normalise. Axis Bank was the first major …
India’s Axis Bank tumbles on profit miss, asset quality woes Read More »
By Indranil Sarkar and Manvi Pant (Reuters) -Shares of India’s No. 2 software services exporter Infosys fell nearly 6% on Friday and were set for their biggest one-day decline since July 2023, as analysts raised concerns about the quality of earnings following its third-quarter report. The stock was down 5.7% as of 11:49 a.m. IST, …
India’s Infosys shares fall on worries about quality of earnings Read More »
By Sethuraman N R (Reuters) -Shares of Reliance Industries rose nearly 5% on Friday and were set for their best week in six months, as the company beat quarterly profit estimates on a boost from its retail business, which had dragged the stock’s performance in 2024. Reliance, India’s most valuable company and the second-top heavyweight …
Reliance set for best week since June as retail business fuels profit beat Read More »
By Nimesh Vora MUMBAI (Reuters) – For nearly two years, Indian importers flocked to a commonly used option strategy to hedge their forex risks amid the rupee’s tranquillity, but a precipitous slide in the currency’s value recently and a surge in its volatility have left them exposed. This strategy, called the ‘seagull’, allows an importer …
Seagull to albatross: Indian importers’ option strategy hit by rupee’s plunge Read More »
By Florence Tan and Nidhi Verma SINGAPORE/NEW DELHI (Reuters) -Indian Oil Corp (IOC), the country’s top refiner, has bought 7 million barrels of spot Middle Eastern and African crude oil via tenders, including a rare purchase of Abu Dhabi’s Murban, as U.S. sanctions are expected to hit supplies from Russia, trade sources said on Friday. …
India’s IOC buys Middle East, African oil to replace Russian supply Read More »
By Anjana Anil (Reuters) – Gold prices rose to a more-than-one-month high on Thursday after the latest U.S. economic data pressured the Treasury yields further, following a soft core inflation reading this week that increased bets for a more dovish Federal Reserve policy. Spot gold gained 0.8% to $2,716.91 per ounce as of 01:40 p.m. …
Gold climbs to over one-month high on weaker yields after US data Read More »
By Neha Arora NEW DELHI (Reuters) – India’s steel ministry has asked for 150 billion rupees ($1.74 billion) from the budget to offer mills incentives to produce low-carbon steel, two government sources with direct knowledge of the matter told Reuters. Finance Minister Nirmala Sitharaman will present the federal budget for the 2025-26 fiscal year on …
By Manvi Pant and Sethuraman N R (Reuters) -Reliance Industries beat expectations for third-quarter profit on Thursday, as its retail business benefited from strong festive demand, while its telecom unit was bolstered by higher cellular tariffs and a rise in 5G subscribers. The Mukesh Ambani-led conglomerate’s consolidated net profit rose 7.4% to 185.40 billion rupees …
India’s Reliance beats Q3 profit estimates on boost from retail, telecom Read More »
