By Neha Arora NEW DELHI (Reuters) – India’s steel ministry on Thursday announced a formula for defining ‘green steel,’ classifying it under three categories based on the quantity of carbon emissions per metric tonne of the alloy produced. Steel produced with carbon dioxide emissions of less than 2.2 tonne per tonne of finished steel would …
India announces formula for classifying green steel Read More »
By Neha Arora NEW DELHI (Reuters) – India is weighing imposition of a “safeguard duty”, or a temporary tax, on steel, the steel minister, H.D. Kumaraswamy, said on Thursday, as it attempts to rein in a flood of cheap imports from China. The world’s second-biggest producer of crude steel, India became a net importer of …
India considers ‘safeguard’ duty on steel, minister says Read More »
NEW DELHI (Reuters) – The Indian government sought on Thursday parliament’s approval for gross additional spending of 867.3 billion rupees ($10.22 billion) in the current fiscal year, the finance ministry said. The government said the net additional spending for the current fiscal year ending March 31, would be 441.83 billion rupees, while the rest would …
Indian government seeks parliament nod for extra spending for FY25 Read More »
(Reuters) -Some of the biggest investors in ReNew Energy Global have offered to take the company private, filings to the U.S. Securities And Exchange Commission (SEC) show, in a deal that values the clean power generator at $2.82 billion, according to Reuters calculations. Major shareholders Canada Pension Plan Investment Board, UAE-based Masdar, ReNew Chairman Sumant …
India’s ReNew Energy offered to be taken private in $2.82 billion deal Read More »
By Anushree Mukherjee and Anjana Anil (Reuters) – Gold gained on Wednesday after an inflation print came in line with expectations, boosting the likelihood of a Federal Reserve rate cut next week, while investors awaited U.S. Producer Price Index (PPI) data for further direction on monetary policy. Spot gold climbed 0.9% to $2,717.29 per ounce, …
Gold advances as inflation data fuels Fed rate cut optimism Read More »
By Chris Thomas and Sethuraman N R (Reuters) -MobiKwik’s [ONEM.NS] 5.72 billion-rupee ($67.4 million) IPO was snapped up in under an hour on Wednesday as retail investors flooded in, betting on the Indian fintech firm’s long-term prospects in a booming online payments market and short-term gains once the stock lists. By the end of the …
MobiKwik’s $67 million India IPO overbought on first day as retail investors swoop in Read More »
By Indranil Sarkar (Reuters) -Jubilant Bhartia Group said on Wednesday it will buy a 40% stake in Coca-Cola’s largest bottler in India, as the Indian conglomerate plans to foray into the country’s “high growth” beverage sector. The group, which owns Domino’s Pizza’s Indian franchisee Jubilant FoodWorks, did not disclose the financial terms of the deal. …
Jubilant Bhartia Group to buy 40% stake in Coca-Cola’s Indian bottler Read More »
MUMBAI (Reuters) – India’s newly-appointed central bank governor Sanjay Malhotra on Wednesday said he will look to ensure stability and continuity in policymaking for the benefit of the economy. “All businesses, all people they do need this (policy) stability rather than (a) day-to-day kind of a policy,” Malhotra said at a press conference in Mumbai …
India’s newly-appointed central bank chief commits to policy continuity Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened to its record low on Wednesday pressured by a slide in the Chinese yuan and heightened dollar bids in the non-deliverable forwards (NDF) market but central bank intervention helped limit losses. The rupee hit a low of 84.8650 against the U.S. dollar before closing at …
Rupee declines to lifetime low hurt by weak yuan, NDF dollar bids Read More »
By Bharath Rajeswaran (Reuters) -Indian shares were little changed on Wednesday, as investors awaited key U.S and domestic inflation data for cues into the rate trajectories of the two countries. The NSE Nifty 50 added 0.13% to 24,641.8, while the BSE Sensex rose 0.02% to 81,526.14. The benchmark Nifty 50 has traded in a narrow …
Indian shares muted ahead of domestic, US inflation data Read More »
