By Anushree Ashish Mukherjee and Brijesh Patel (Reuters) – Gold prices regained lost ground on Wednesday to hover close to their all-time highs after minutes from the U.S. Federal Reserve’s last meeting showed officials strongly leaned towards an interest rate cut at their September policy meeting. Spot gold was up 0.1% at $2,516.01 per ounce …
Gold prices hover near record high post US Fed minutes Read More »
BENGALURU (Reuters) – Indian digital payments firm Paytm on Wednesday proposed to cap salaries of its non-executive independent directors, as it looks to save costs amid widening losses. Paytm’s independent board members will earn a maximum annual compensation of up to 4.8 million rupees ($57,228), the company said in a release, adding the reduced pay …
India’s Paytm proposes to cap salaries for certain board members Read More »
BENGALURU (Reuters) – U.S. private equity firm General Atlantic on Wednesday sold its entire stake worth 10.69 billion rupees ($127.40 million) in India’s PNB Housing Finance, stock exchange data showed. Shares of the mortgage lender closed 10.1% higher on Wednesday. The company, which had a 5.1% stake in PNB Housing as of June 30, sold …
General Atlantic exits India’s PNB Housing in $127 million deal Read More »
BENGALURU (Reuters) -An Indian company tribunal has dismissed objections raised by minority shareholders of ICICI Securities regarding its delisting plans, Bar and Bench reported on Wednesday. ICICI Bank, which holds a roughly 75% stake in ICICI Securities, won shareholder approval to buy out the remaining stake in March in a share-swap deal worth $622 million, making …
Indian tribunal dismisses petitions opposing ICICI Securities’ delisting, report says Read More »
By Neha Arora NEW DELHI (Reuters) – India continued to be a net importer of steel during the first four months of the current fiscal year beginning April, with China as its biggest supplier of the alloy, according to provisional government data seen by Reuters. India imported 2.69 million metric tons of steel between April …
India remains net steel importer in April-July as Chinese shipments rise Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened on Wednesday pressed by importers’ dollar bids, while forward premiums nudged up with traders anticipating a sharper rise if revised U.S. payroll data rekindles concerns about an economic slowdown. The rupee was at 83.86 against the U.S. dollar as of 10:15 a.m. IST, compared to …
Rupee slips; forward premiums biased higher ahead of US payroll revisions Read More »
By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares took a breather on Wednesday after a four-session rally, mirroring the move in other Asian markets, while analysts expect traders to buy the dip through the day. The NSE Nifty 50 index was off a mere 0.04% at 24,691.42 as of 10:20 a.m. IST, and …
By Aditya Kalra NEW DELHI (Reuters) -India’s antitrust body has reached an initial assessment that the $8.5 billion India merger of Reliance and Walt Disney media assets harms competition due to their power over cricket broadcast rights, four sources told Reuters on Tuesday. It is the biggest setback so far to the planned Disney-Reliance merger …
India flags cricket rights concerns with Disney-Reliance $8.5 billion merger Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended stronger on Tuesday, lifted by likely inflows and a slump in the dollar index that helped Asian currencies across the board. The rupee closed at 83.7925 against the U.S. dollar, up nearly 0.1% from its close of 83.87 in the previous session. The currency rose …
Rupee closes higher boosted by inflows, broadly weaker dollar Read More »
By Devayani Sathyan BENGALURU (Reuters) – India’s benchmark indices will rise modestly by the end of 2024, according to a Reuters poll of equity strategists who said a correction from already elevated levels in the coming month was unlikely. Triggered by recent turbulence in global financial markets due to the unwinding of leveraged trades funded …
Indian stocks to rise modestly to year-end, correction unlikely: Reuters poll Read More »
