By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) – India plans to overhaul more than 200 state-run firms to make them more profitable, signalling a departure from Prime Minister Narendra Modi’s aggressive privatisation programme that has struggled to take off, government sources said. The programme to privatise a major portion of India’s lumbering $600 …
By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – Indian banks are set to raise around 400 billion rupees ($4.79 billion) through infrastructure bonds in July and August, potentially setting a record for the second consecutive year, according to five merchant bankers on Friday. If successful, funds raised via these bonds in the first five …
Indian banks eye record infra bond issue for second straight fiscal year Read More »
By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -Indian shares rose to record highs on Friday, led by IT stocks after heavyweight Tata Consultancy Services beat quarterly revenue estimates and as fresh U.S. economic data boosted hopes of rate cut in September. The NSE Nifty 50 rose 1.14% to a record high of 24,592.20 as …
By Kashish Tandon BENGALURU (Reuters) – Tata Consultancy Services’ shares gained nearly 3% on Friday, a day after India’s top IT services firm reported first-quarter results that signalled early signs of revival for a sector that has been grappling with sluggish demand. The gains pushed the IT index up 3.4%, its highest level since January …
India’s TCS jumps after Q1 results indicate ‘worst is over’ Read More »
NEW DELHI (Reuters) -India’s state-run refiners are jointly negotiating a long-term oil import deal with Russia, a government source aware of the development said on Thursday. India and Russia have yet to finalise terms, such as the payment currency, for the imports, the source said, declining to be named because of the sensitivity of the matter. “Joint …
By Brijesh Patel (Reuters) – Gold prices jumped more than 1% on Thursday to break above the $2,400 per ounce level after data showed U.S. consumer prices unexpectedly slipped last month, boosting bets for interest rate cuts by the Federal Reserve. Spot gold was up 1.5% at $2,407.35 per ounce by 10:34 a.m. ET (1434 …
Gold reclaims $2,400 mark after US inflation data lifts rate-cut bets Read More »
By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) -Tata Consultancy Services, India’s top IT services company, said despite slightly surpassing first-quarter revenue estimates, it is “too early” to predict sustained growth in future quarters. “The reason why we are hesitant to call sustained growth is we find market conditions to be quite volatile,” said …
India’s TCS beats Q1 view, flags persistent demand uncertainty Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares closed broadly unchanged on Thursday, swinging from a higher open to succumbing to profit-booking along the way, as caution set in ahead of the quarterly earnings season. The NSE Nifty 50 and the S&P BSE Sensex dipped a marginal 0.03% to end at 24,315.95 and 79,897.34, respectively. They …
Indian shares end muted on caution ahead of earnings Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended slightly weaker on Thursday, pressured by dollar demand from state-run banks and importers, although most of its Asian peers gained ahead of a key U.S. inflation report. The rupee ended at 83.56 against the U.S. dollar, moderately lower than its close at 83.52 in the …
Rupee ends weaker, pressured by state-run banks’ dollar bids; eye on US inflation Read More »
NEW DELHI (Reuters) – India’s Oil and Natural Gas Corp has sought a waiver from the U.S. Office of Foreign Assets Control to lift crude oil from Venezuela, an industry source said on Thursday. ONGC is optimistic of winning an approval, the source said, declining to be named due to the sensitivity of the matter. ONGC …
India’s ONGC seeks US waiver to lift Venezuela oil, industry source says Read More »
