By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares closed higher on Tuesday, led by financials and information technology stocks, as rising expectations of an aggressive rate cut by the U.S. Federal Reserve in September boosted sentiment and spurred a global equities rally. The NSE Nifty 50 index rose 0.51% to 24,698.85, and the …
BENGALURU (Reuters) -India’s Hindustan Zinc on Tuesday nearly doubled its dividend to 19 rupees per share, totaling 80.28 billion rupees($958 million), a move that is expected to help group parent Vedanta Resources reduce its debt. Hindustan Zinc is majority owned by metals-to-oil conglomerate Vedanta Ltd, which in turn is owned by U.K.-based Vedanta Resources. The …
India’s Hindustan Zinc nearly doubles dividend payout Read More »
By Sudarshan Varadhan SINGAPORE (Reuters) – Bangladesh’s Summit Group plans to renegotiate preliminary deals to import renewable power from India after a recent rule change by New Delhi allowed generators that exclusively export their electricity to sell locally, the utility’s chairman said. India amended its power export rules less than a week after Prime Minister …
Bangladesh’s Summit reviewing cross-border power deals after India rule change Read More »
By Neha Arora NEW DELHI (Reuters) -Indian metal and mining companies’ operating costs are likely to rise significantly if state governments impose additional mining taxes in the wake of a Supreme Court ruling, Fitch Ratings said in a note on Monday. India’s top court late last month upheld the right for state governments to levy …
By Anushree Ashish Mukherjee (Reuters) – Gold subdued on Monday after piercing the $2,500 ceiling in the previous session, as investors booked profits from the record run and positioned for more cues from the U.S. Federal Reserve and developments in the Middle East. Spot gold was down 0.2% at $2,501.74 per ounce as of 01:41 …
Gold subdued after record run as traders await cues from Fed Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee closed stronger on Monday, aided by a rally in Asian currencies that helped the local unit touch its highest in two weeks. The rupee closed at 83.87 against the U.S. dollar, up from its close at 83.94 on Friday. The currency hit 83.85 during the session, …
Rupee ends higher following choppy price action, Asia FX rally helps Read More »
By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares closed flat on Monday, as gains in energy and metals stocks, on a cut in windfall tax on crude and a soft U.S. dollar, respectively, were offset by profit booking in financials. The NSE Nifty 50 index rose 0.13% to 24,572.65, and the S&P BSE …
Indian shares flat as financials offset gains in energy, metals Read More »
(This Aug. 13 story has been refiled with the correct logo of the company) BENGALURU (Reuters) – India’s largest gold loan provider, Muthoot Finance, reported a smaller-than-expected first-quarter profit on Tuesday, as higher impairment charges and finance costs outpaced strong loan demand on the back of elevated gold prices. The company’s profit rose about 11% …
India’s Muthoot Finance misses Q1 profit view as impairment charges soar Read More »
By Aditya Kalra NEW DELHI (Reuters) – Spirits group Diageo’s Indian unit has submitted financial documents sought by New Delhi anti-corruption police in an investigation related to billing and discount practices involving city agencies, a source familiar with the matter said. Hina Nagarajan, the CEO of Diageo’s Indian unit, United Spirits, was summoned to appear …
Diageo submits financial documents in Delhi police investigation, source says Read More »
By Brijesh Patel and Rahul Paswan (Reuters) – Gold prices soared to an all-time high on Friday as the dollar weakened on growing expectations for an interest-rate cut from the Federal Reserve in September, and as tensions in the Middle East bolstered demand for bullion. Spot gold was up 1.7% to $2,498.72 per ounce by …
Gold rallies to record high on softer dollar, rate-cut expectations Read More »
