Reuters India Business

By Siddhi Nayak MUMBAI (Reuters) -India’s July-September current account deficit narrowed marginally from a year earlier amid a rise in services exports, the central bank said on Friday. The current account deficit stood at $11.2 billion, or 1.2% of GDP, in the quarter, compared with a deficit of $11.3 billion or 1.3% of GDP in …

India’s current account gap narrows to 1.2% of GDP in July-Sept, central bank says Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee fell to an all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand, while the sharp fall led to panic dollar buying by importers. The rupee weakened to an all-time low of 85.8075 against the U.S. dollar, before intervention by the central …

Rupee slumps to record low, logs worst day in nearly 7 months as dollar bids spike Read More »

By Bharath Rajeswaran (Reuters) -Indian shares rose on Friday to log gains in a holiday-thinned week, led by auto stocks after last week’s sharp drop made valuations relatively more attractive. The Nifty 50 rose 0.27% to end at 23,813.4 on the day, while the BSE Sensex added 0.29% to 78,699.07. Both benchmarks gained about 1% …

Auto leads recovery in Indian shares after last week’s slide Read More »

By Hritam Mukherjee and Ashna Teresa Britto (Reuters) -UltraTech India’s top cement maker will buy an 8.69% stake in Star Cement, it said on Friday, in a deal worth up to 8.51 billion rupees ($100 million) for a company that rival Adani Group was reportedly interested in acquiring. UltraTech said it would pay not more …

India’s UltraTech buys stake in Star Cement as Adani rivalry continues Read More »

(Reuters) -India’s economy is expected to grow at around 6.5% in fiscal year 2024/25, closer to the lower end of its 6.5%-7% projection, as global uncertainties pose a dampening threat, the government said on Thursday. The growth outlook for October to December appears bright, with rural demand remaining resilient and urban demand picking up in …

Indian economy to grow at around 6.5% in FY25, government says Read More »

By Nidhi Verma and Manoj Kumar NEW DELHI (Reuters) -India’s Bharat Petroleum Corp plans to invest $11 billion in southern Andhra Pradesh state for a new refinery and petrochemical project to meet rising fuel demand in the world’s fastest-growing major economy, its chairman said. India wants to emerge as a major refining hub supplying fuel …

BPCL plans $11 billion refinery proj in South India Read More »

By Sherin Elizabeth Varghese (Reuters) – Gold prices rose on Thursday, driven by safe-haven demand in light trading after the Christmas holiday, as markets awaited signals on the U.S. economy under the incoming Trump administration and the Federal Reserve’s interest rate strategy for 2025. Spot gold rose 0.9% to $2,635.29 per ounce, as of 01:47 …

Gold rises on safety demand as markets look to 2025 in holiday lull Read More »

By Nikunj Ohri NEW DELHI (Reuters) – India is considering cutting income tax for individuals making up to 1.5 million rupees ($17,590) a year in February’s budget to provide relief to the middle class and boost consumption as the economy slows, two government sources told Reuters. The move could benefit tens of millions of taxpayers, …

India considers cutting personal income tax to lift consumption, sources say Read More »