Reuters India Business

Venezuela’s oil exports hit a 4-year peak on higher output, sales to US, India

1 Nov 2024

By Marianna Parraga and Mircely Guanipa HOUSTON/MARACAY (Reuters) – Venezuela’s oil exports rose to a four-year high, approaching 950,000 barrels per day in October, boosted by growing crude output and more sales to India and the United States, according to shipping data and documents from state firm PDVSA. The increase happened despite a large storage …

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Indian banks’ loans rose 11.5% y/y in two weeks to Oct 18 – central bank

1 Nov 2024

Nov 1 (Reuters) – Indian banks’ loans rose 11.5% in the two weeks to Oct. 18 from a year earlier, while deposits rose 11.7%, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans fell 595.28 billion rupees ($7.08 billion) to 172.38 trillion rupees in the two weeks to Oct. 18. Non-food …

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SUV sales a bright spot in Indian carmakers’ October dispatches to dealers

1 Nov 2024

(Reuters) -Some top Indian carmakers reported a surge in sports utility vehicle sales to dealers in the festive month of October, company data showed on Friday, while the small-car segment stayed sluggish, highlighting customers’ increasing preference for larger, premium cars. Maruti Suzuki, India’s No. 1 carmaker in terms of market share, posted a 19.4% rise …

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Festivities trigger buying spree in India, but volumes lag

1 Nov 2024

By Rajendra Jadhav and Ashitha Shivaprasad (Reuters) – Gold demand in India jumped this week amid festival purchases, although volumes were lower than usual due to record-high prices. “Retail buying jumped as consumers want to make purchases during the auspicious period. But many were making token-buys because of higher prices,” said a Hyderabad-based jeweller. In …

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RBI’s routine interventions to halt major movements in Indian rupee: Reuters poll

1 Nov 2024

By Rahul Trivedi BENGALURU (Reuters) – The Indian rupee will trade in a tight range around current levels against the dollar over the coming year as the Reserve Bank of India (RBI) routinely dips into its FX reserves to manage the currency’s stability, a Reuters poll found. Abandoning its earlier policy of intervening only during …

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L&T eyes aerospace expansion to ride India’s $44 billion private space market push

1 Nov 2024

By Nivedita Bhattacharjee BENGALURU (Reuters) -Larsen & Toubro Ltd (L&T), India’s largest private-sector defense manufacturer by revenue, is looking to ramp up its aerospace division to strengthen its foothold in the country’s burgeoning private space sector, a senior executive said on Thursday. The move follows the government’s recent efforts to open its space industry – …

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Gold consolidates after record peak, set for fourth straight monthly rise

31 Oct 2024

By Anjana Anil (Reuters) – Gold retreated on Thursday as prices consolidated after hitting a record high, while safe-haven demand ahead of the U.S. presidential election helped the precious metal log its fourth straight monthly gain. Spot gold was down 1.6% at $2,740.45 per ounce by 1:40 p.m. ET (1740 GMT), after hitting a record …

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Indian banks’ loan growth moderates in September amid cenbank clampdown, data shows

31 Oct 2024

MUMBAI (Reuters) – Indian banks’ loan growth moderated this September, compared with the same month a year ago, central bank data showed on Thursday, as the impact of the Reserve Bank of India’s clampdown on “exuberance” in retail lending continued. Banks’ credit grew at 14.4% year-on-year last month, slower than the 15.3% increase in September …

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Indian shares log worst month since March 2020 on record foreign outflows, dull earnings

31 Oct 2024

By Bharath Rajeswaran and Hritam Mukherjee (Reuters) -Indian shares fell on Thursday, logging their worst monthly performance since March 2020, as record monthly foreign outflows and lacklustre corporate earnings pummelled investor sentiment. The NSE Nifty 50 fell 0.56% to 24,205.35, while the BSE Sensex lost 0.69% to 79,389.06. Both the benchmarks lost about 6% in …

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