Reuters India Business Archives - Page 453 of 1191

India’s Manappuram Finance surges after central bank lifts ban on unit

9 Jan 2025 9 Jan 2025

(Reuters) – Shares of Indian gold loan financier Manappuram Finance rose as much as 6% on Thursday, a day after the country’s central bank removed restrictions imposed on the company’s unit. The Reserve Bank of India (RBI) had in October barred four non-banking financial companies (NBFCs), which included Manappuram’s unit Asirvad Micro Finance, from issuing …

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Gold climbs after weaker-than-expected private payrolls data

8 Jan 2025 8 Jan 2025

By Anjana Anil (Reuters) – Gold prices hit a near four-week high on Wednesday after a weaker-than-expected private employment report for December provided reassurance for some in the market the U.S. Federal Reserve may be less cautious about easing rates this year. Spot gold rose 0.3% to $2,657.38 per ounce, as of 02:15 p.m. ET …

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Heineken’s United Breweries halts beer sales in Indian state over pricing

8 Jan 2025 8 Jan 2025

By Rishika Sadam, Nandan Mandayam and Indranil Sarkar HYDERABAD/BENGALURU (Reuters) -Heineken-owned United Breweries on Wednesday stopped supplying beer to Telangana in southern India, following the state’s refusal to allow price rises, which the company said had resulted in huge losses. United Breweries, maker of India’s Kingfisher brand, is the country’s biggest beer company and the …

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India’s central bank lifts lending ban on Asirvad Micro Finance, DMI Finance

8 Jan 2025 8 Jan 2025

(Reuters) -India’s central bank said on Wednesday it has removed restrictions imposed on non-banking financial companies (NBFCs), Asirvad Micro Finance and DMI Finance, against any fresh loan sanctions and disbursals with immediate effect. The Reserve Bank of India (RBI) in October barred four NBFCs, including Manappuram Finance’s unit Asirvad Micro Finance as well as DMI …

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Indian railways spend over $22 billion on modernisation

8 Jan 2025 8 Jan 2025

By Manoj Kumar NEW DELHI (Reuters) – State-run Indian Railways has spent more than $22 billion so far in the current fiscal year, focusing on projects to expand capacity and deliver faster and safer travel to passengers, the government said on Wednesday. The government is pushing to open new lines and expand electrification as part …

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India eyes two more lithium blocks in Jammu and Kashmir, government sources says

8 Jan 2025 8 Jan 2025

NEW DELHI (Reuters) – The Indian government is looking at two more blocks in the federally administered region of Jammu and Kashmir for lithium exploration, government officials directly aware of the matter said on Wednesday. Estimated reserves in the two blocks will be known by October, the officials added, but declined to be identified as the …

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India cuts November gold imports by record $5 billion

8 Jan 2025 8 Jan 2025

By Rajendra Jadhav MUMBAI (Reuters) -India has cut its November gold import estimates by an unprecedented $5 billion, the largest revision for any commodity in history, after errors in preliminary calculations inflated the figure to a record, government data showed on Wednesday. New Delhi said last month its gold imports hit a record high of …

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National Stock Exchange of India expands co-location capacity

8 Jan 2025 8 Jan 2025

(Reuters) – The National Stock Exchange of India (NSE), the country’s largest bourse, said on Wednesday it has expanded the capacity of its co-location data centre by more than 200 racks, which house servers and storage devices. A co-location facility lets brokers set up servers within a stock exchange, giving them quicker and easier access …

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Indian benchmarks end flat as earnings worries counter gains in Reliance, TCS

8 Jan 2025 8 Jan 2025

By Bharath Rajeswaran and Indranil Sarkar (Reuters) -India’s benchmark indexes ended largely unchanged on Wednesday as concerns over slowing corporate profits and the increasing likelihood of fewer U.S. rate cuts offset a rise in Reliance Industries and Tata Consultancy Services. The Nifty 50 shed 0.08% to 23,688.95, while the BSE Sensex was down 0.06% at …

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India’s ONGC engages BP to boost production in largest oil field

8 Jan 2025 8 Jan 2025

By Sethuraman N R (Reuters) – India’s top explorer Oil And Natural Gas Corp on Wednesday said energy major BP will act as technical service provider to help boost oil and gas output from the country’s largest producing field, off India’s west coast. BP has promised an increase of up to 60% in production of …

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