By Anant Chandak and Rahul Trivedi BENGALURU (Reuters) -Consumer price inflation in India climbed to a 14-month high of 5.81% in October primarily due to a spike in vegetable and edible oil prices, a Reuters poll of economists predicted, a shade below the central bank’s tolerance threshold of 6.0%. Food prices, which make up nearly …
India inflation to rise further to 5.81% on rising food costs Read More »
NEW DELHI (Reuters) – Global oil prices “would have hit the roof” if big importer India had not bought oil from Russia following the Ukraine war, India’s oil minister said, adding that prices would determine where the country buys oil from. India, the world’s third largest oil importer and consumer, has become the top buyer …
India says oil prices would have rocketed without its Russian imports Read More »
By Anjana Anil (Reuters) – Gold prices dropped on Friday, logging their steepest weekly decline in over five months, pressured by a stronger dollar and as markets absorbed the implications of Donald Trump’s victory and its potential impact on U.S. interest rate expectations. Spot gold fell 0.8% to $2,684.03 per ounce as of 01:40 p.m. …
Gold logs biggest weekly fall in over five months on dollar strength Read More »
By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) -An investigation by India’s antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show. Zomato entered into “exclusivity contracts” with partners in return for lower commissions, while Swiggy guaranteed business …
By Meenakshi Maidas and Nandan Mandayam (Reuters) -Ola Electric, India’s top e-scooter maker by market share, reported a narrower second-quarter loss on Friday helped by a jump in sales, and said the recent surge in service requests was largely for “minor issues.” The Bengaluru-based company said its consolidated loss narrowed to 4.95 billion rupees ($58.7 …
India’s Ola Electric’s Q2 loss narrows, says most service issues ‘minor’ Read More »
By Hritam Mukherjee (Reuters) -Food and grocery delivery firm Swiggy’s $1.4 billion initial public offering was oversubscribed on Friday, as institutional investors rushed in with orders on the final day of India’s second-largest share sale this year. The IPO received bids for more than three times the shares on offer at the end of the …
Swiggy’s $1.4 billion IPO oversubscribed as investors bet on quick-commerce boom Read More »
By Nandan Mandayam (Reuters) -India’s Tata Motors reported a surprise drop in second-quarter profit and its first revenue decline in 10 quarters on Friday, hurt by weakness in both its luxury vehicles unit, Jaguar Land Rover, and domestic businesses. The company posted a profit of 33.43 billion rupees ($396.4 million) for the quarter ended Sept. …
India’s Tata Motors posts surprise Q2 profit drop on weak JLR, domestic sales Read More »
By Nishit Navin and Siddhi Nayak (Reuters) -State Bank of India, the country’s largest lender by assets, lowered its deposit growth forecast on Friday amid rising competition among banks. “Guidance holds for double-digit (deposit) growth. We are endeavouring towards 12%-13% but will probably not be able to reach that by FY25. The effort is to …
India’s largest bank lowers FY deposit growth forecast amid rising competition Read More »
By Munsif Vengattil and Aditi Shah BENGALURU (Reuters) – Mukesh Ambani’s Reliance pressed India’s telecom watchdog on Friday to reconsider its plan not to auction satellite spectrum but to simply allocate it, in a fresh clash with Elon Musk’s Starlink. India’s telecoms Minister Jyotiraditya Scindia last month said the government would allocate spectrum administratively in …
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened to a record low on Friday and logged its worst weekly fall since May, pressured by sustained outflows from local stocks and expectations of a stronger dollar after Donald Trump won the U.S. election. The rupee closed little changed at 84.3750 against the dollar, after …
Rupee weakens to record low, logs worst week in five months Read More »
