Reuters India Business

By Jaspreet Kalra, Siddhi Nayak and Nimesh Vora MUMBAI (Reuters) – India’s central bank will be more judicious in its use of foreign exchange reserves to mitigate domestic currency market volatility amid strong global headwinds, three sources aware of the development said. The Reserve Bank of India will continue to intervene as and when necessary …

India’s central bank to judiciously handle FX reserves amid headwinds, sources say Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened to its all-time low on Tuesday due to strong dollar bids spurred by the maturity of positions in the non-deliverable forwards (NDF) market, while likely intervention by the Reserve Bank of India helped cap losses, traders said. The rupee hit a record low of 86.6475 …

Rupee hits record low; state-run, foreign banks’ dollar sales cap fall Read More »

By Bharath Rajeswaran (Reuters) -Indian equity benchmarks closed higher on Tuesday, as gains in financials and metals helped recoup some losses from the previous session when the blue-chip indexes plunged to seven-month lows. The Nifty 50 rose 0.39% to 23,176.05 points, while the BSE Sensex added 0.22% to 76,499.63. Both the indexes lost about 1.4% …

Indian equity benchmarks end higher, led by financials, metals Read More »

By Nikunj Ohri NEW DELHI (Reuters) -India plans to project higher economic growth for the next fiscal year, two government officials with direct knowledge of the matter said, adding that fiscal deficit goals are being met and kept. It is likely to forecast nominal economic growth of 10.3%-10.5%, according to one of the officials. That’s …

India to forecast stronger growth next year while sticking to fiscal deficit goals, sources say Read More »

By Manvi Pant (Reuters) -Shares of HCLTech plunged nearly 10% on Tuesday, set for their worst session since September 2015, after India’s No. 3 software services provider missed quarterly revenue estimates and raised only the lower end of its full-year sales outlook. HCLTech was the top loser on the blue-chip Nifty 50 index on the …

India’s HCLTech tumbles nearly 10% after Q3 revenue miss Read More »

By Anjana Anil (Reuters) – Gold prices dipped on Monday as the U.S. dollar soared to an over two-year high after a robust jobs report last week cemented expectations the Federal Reserve will proceed with caution with cutting interest rates this year. Spot gold fell 1% to $2,661.76 per ounce as of 03:57 p.m. ET …

Gold drops 1% as robust US jobs data strengthens dollar Read More »