Reuters India Business

India’s HMEL issues prompt tender for naphtha supplies as Russian flows hit, sources say

10 Nov 2025

By Mohi Narayan NEW DELHI (Reuters) -Indian refiner HPCL-Mittal Energy Ltd has issued a rare spot tender seeking two cargoes of naphtha for November delivery after its Russian supplies of the petrochemical feedstock were hit, three trade sources said on Monday. The tender, which was scheduled to close on Friday, has been extended until November …

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Goldman Sachs upgrades India back to ‘overweight’; sees Nifty rising 14% by 2026-end

10 Nov 2025

By Bharath Rajeswaran (Reuters) -Goldman Sachs upgraded India to “overweight” from “neutral”, reversing its October 2024 downgrade, citing strengthening earnings momentum and policy tailwinds supporting growth. The global brokerage has set a 2026 year-end target of 29,000 for the benchmark index Nifty 50, implying a 14% upside from Friday’s close. The index has risen about …

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WeWork India hits record revenue; profit tumbles as tax gain fades

10 Nov 2025

(Reuters) -Flexible workspace provider WeWork India Management reported a sharp drop in quarterly profit on Monday despite record revenue, as its year-ago earnings were boosted by deferred tax benefits. In its first quarterly results since its stock market debut last month, consolidated revenue from operations climbed 22.4% to 5.75 billion rupees ($65.42 million) as large …

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India’s Jindal Stainless posts higher quarterly profit on strong demand

10 Nov 2025

(Reuters) -India’s Jindal Stainless reported a 32.6% rise in second quarter profit on Monday, on strong growth in volumes driven by improved domestic demand conditions. The O.P. Jindal Group company’s consolidated profit after tax rose to 8.08 billion Indian rupees (about $92 million) for the quarter ended September 30, as compared to 6.09 billion rupees …

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Indian shares rise on potential end to US shutdown, improving earnings

10 Nov 2025

By Bharath Rajeswaran (Reuters) -Indian equity benchmarks snapped a three-session losing streak on Monday, as global sentiment improved on the possibility of an end to the historic U.S. government shutdown, while improving domestic earnings momentum also supported gains. The Nifty 50 rose 0.32% to 25,574.35, while the BSE Sensex added 0.38% to 83,535.35, both snapping …

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Rupee holds at edge of record low, softer dollar offers little help

10 Nov 2025

By Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee clung to a narrow range in touching distance of its all-time low on Monday, as a broadly softer dollar amid improved risk appetite globally offered little comfort to the currency in face of persistent interbank dollar demand. The rupee closed at 88.6975 against the U.S. dollar, down …

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Global credit guarantor bets big on India with $500 million plan, exec says

10 Nov 2025

By Khushi Malhotra and Dharamraj Dhutia MUMBAI (Reuters) -GuarantCo, the credit-guarantee unit of the Private Infrastructure Development Group (PIDG), plans to increase its exposure to India, aiming to make the country its largest Asian market within three years, a senior official said on Monday. PIDG, a development finance institution backed by the U.K., Switzerland, Australia, …

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India turns net exporter of finished steel in October, govt data shows

10 Nov 2025

NEW DELHI (Reuters) -India turned a net exporter of finished steel in October, with shipments reaching 0.6 million metric tons, up 44.7% from a year earlier, provisional government data reviewed by Reuters showed on Monday. India, the world’s second-biggest crude steel producer, imported 0.5 million metric tons in October, down 55.6% from a year earlier, …

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India’s HPCL, MRPL buy 5 million barrels of US, Mideast oil, sources say

10 Nov 2025

SINGAPORE/NEW DELHI (Reuters) -Two Indian state refiners have purchased 5 million barrels of crude oil from spot markets via tenders as they continue to scout for alternatives to Russian supplies, trade sources said. Hindustan Petroleum Corp has bought 2 million barrels each of U.S. West Texas Intermediate crude and Abu Dhabi’s Murban crude for January …

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Novo Nordisk, Emcure to launch weight-loss drug under new brand in India

10 Nov 2025

(Reuters) -Novo Nordisk has partnered with India’s Emcure Pharmaceuticals to exclusively distribute and market its weight-loss drug under a new brand in the country, the companies said on Monday. Under the agreement, the Danish drugmaker will sell Poviztra 2.4 milligram (mg) semaglutide injection in India as a separate brand of its blockbuster weight-loss treatment Wegovy. …

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