NEW DELHI (Reuters) -India’s industrial output growth hit a six-month high of 5.2% year-on-year in November helped by a strong rise in output of consumer durables and capital goods, government data showed on Friday. Economists polled by Reuters had expected a growth of 4.1%. Output in the manufacturing sector, which accounts for about 17% of …
India’s industrial output at 6-month high of 5.2% y/y in November Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee slipped to its all-time low on Friday as the dollar stood firm ahead of closely watched U.S. labour market data, keeping regional currencies on the defensive. The rupee weakened to 85.97 against the U.S. dollar, inching past its previous record low of 85.9325 hit on Thursday. …
India rupee hits lifetime low, falls for 10th straight week Read More »
By Bharath Rajeswaran and Indranil Sarkar (Reuters) -Indian bluechip indexes fell on Friday and logged weekly losses on worries about corporate earnings, while IT stocks gained after comments from sector-leader TCS indicated early signs of a demand revival. The Nifty 50 shed 0.4% to 23,431.5 points, while the BSE Sensex declined 0.31% to 77,378.91. Both …
Indian shares log weekly losses as earnings worries overshadow IT gains Read More »
(Reuters) – Indian miner Vedanta’s parent on Friday said it has secured commitments from Barclays, First Abu Dhabi Bank, and Mashreq totaling $300 million in loan tenors of 3 years and 3 months. The proceeds will be used for refinancing some outstanding 2024 and 2026 bonds and for meeting other debt servicing obligations, Vedanta Resources …
Vedanta Resources gets $300 million loan commitment for debt refinancing Read More »
BENGALURU (Reuters) – India’s CESC, a power generation and distribution company, reported a fall in third-quarter profit on Friday, due to higher tax expenses and lower regulatory income. The company’s consolidated profit fell 5.7% year-on-year to 2.65 billion rupees ($30.8 million) for the three months ended Dec. 31. Total tax expenses rose 27% to 800 …
Indian power company CESC’s Q3 profit falls amid higher tax expenses Read More »
NEW DELHI (Reuters) – India’s federal government said on Friday it has released 1.73 trillion rupees ($20.13 billion) as tax devolution to states to boost capital spending, fund development and welfare expenditure. ($1 = 85.9250 Indian rupees) (Reporting by Shanima A in Bengaluru; Editing by YP Rajesh)
MUMBAI (Reuters) – The Indian rupee hit an all-time low on Friday, pressured by a firm dollar and as regional currencies stayed on the defensive ahead of the keenly awaited U.S. nonfarm payrolls report. The rupee dropped to a record low of 85.9400 per U.S. dollar, down from 85.8475 in the previous session and past …
Rupee dips to lifetime low amid firm dollar ahead of key jobs data Read More »
By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee’s volatility picked up in the one month following the change of guard at the Reserve Bank of India, and analysts reckon that the central bank will be taking a more flexible approach to managing the exchange rate. Since career bureaucrat Sanjay Malhotra took …
In month since change of guard at central bank, Indian rupee’s volatility picks up Read More »
(Reuters) – The Indian Gas Exchange (IGX) is looking for regulatory approval to launch a 3-6 month gas contract, its chief executive, Rajesh K Mediratta, said on Friday. “We are awaiting a clearance from PNGRB (Petroleum and Natural Gas Regulatory Board),” Mediratta told reporters at a press conference. IGX, a unit of Indian Energy Exchange, …
Indian Gas Exchange seeks regulatory nod to launch 3-6 month contract Read More »
By Dharamraj Dhutia and Nimesh Vora MUMBAI (Reuters) – Indian lenders have asked the central bank to infuse durable liquidity into the banking system in the wake of the significant dip in a key measure of liquidity, six treasury officials said. A select set of market participants met Reserve Bank of India officials late on …
Indian lenders clamor for durable liquidity infusion from central bank Read More »
