Reuters India Business

By Shivangi Acharya and Nikunj Ohri NEW DELHI (Reuters) -After world-beating economic growth last year, India’s policymakers are scrambling to head off a sharp slowdown as worsening global conditions and domestic confidence wipe out a recent stock market rally. On Tuesday, Asia’s third-largest economy forecast annual growth of 6.4% in the fiscal year ending in …

Analysis-India’s Modi looks to new economic playbook as risks mount Read More »

(Reuters) – India’s markets regulator has warned Ola Electric against sharing company-related information on social media before disclosing it to investors, adding to a slew of problems for the electric two-wheeler maker. The letter from the Securities and Exchange Board of India (SEBI), disclosed by Ola Electric late on Tuesday, said that the company had …

India markets regulator warns Ola Electric for disclosure lapses Read More »

By Anjana Anil (Reuters) – Gold prices pared earlier gains on Tuesday, pressured by a strengthening dollar and Treasury yields after rising U.S. job openings signalled diminishing odds of large rate cuts by the Federal Reserve. Spot gold was up 0.5% at $2,648.76 per ounce, as of 02:07 p.m. ET (1907 GMT), after rising as …

Gold pares gains as dollar rebounds following US jobs data Read More »

(Reuters) -India’s fuel consumption in December rose 2.1% year on year to 20.67 million metric tons, its highest level since last May, oil ministry data showed on Tuesday. On a monthly basis, fuel demand was up over 1% from 20.46 million tons in November, data from the Petroleum Planning and Analysis Cell’s (PPAC) website showed. …

Indian fuel demand hit seven-month high in December Read More »

By Aditya Soni and Deborah Mary Sophia BENGALURU (Reuters) -Microsoft will spend $3 billion to expand its Azure cloud and artificial intelligence (AI) capacity in India, CEO Satya Nadella said on Tuesday, doubling down on a country with tech expertise and low costs to help turn such investments profitable. The two-year investment, its biggest ever …

Microsoft to invest $3 billion in India, to expand AI and cloud capacity Read More »

By Shivangi Acharya and Nikunj Ohri NEW DELHI (Reuters) -India forecast annual growth of 6.4% in the year ending in March, the slowest in four years and below the lower end of government’s initial projection, dragged by a weaker manufacturing sector and slower corporate investments. India’s had initially projected a growth rate of 6.5%-7%. The …

India forecasts 2024/25 economic growth of 6.4%, slowest in four years Read More »

By Bharath Rajeswaran (Reuters) -Indian shares rose on Tuesday, led by a rally in energy stocks after a brokerage upgraded ONGC and as Reliance recovered some of its losses from the previous session. The Nifty 50 gained 0.39% to 23,707.9 points, while the BSE Sensex added 0.3% to 78,199.11. On Monday, both benchmarks lost about …

ONGC rally, Reliance recovery prop up Indian shares after Monday’s slump Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee logged its biggest one-day gain in more than a month on Tuesday as the dollar dipped towards a one-week low, boosting regional currencies, while foreign banks’ dollar sales also helped. The rupee closed up 0.1% at 85.7125 against the U.S. dollar, its strongest daily gain since …

Rupee logs biggest one-day gain in over a month as regional peers jump Read More »