By Kashish Tandon and Bharath Rajeswaran BENGALURU (Reuters) -Indian shares closed flat on Tuesday, coming off a sharp rise last week, as investors moved on from election related news to focus on upcoming inflation data, as well as the US Federal Reserve’s policy decision later in the week. The NSE Nifty 50 index settled 0.02% …
Indian shares remain muted ahead of Fed decision, inflation data Read More »
By Siddhi Nayak MUMBAI (Reuters) – The lobby group for Indian non-banking lenders on Tuesday asked for a review of a recent proposal from the central bank calling for an increase in the provisions that lenders have to set aside against infrastructure project loans. Last month, the Reserve Bank of India (RBI) proposed that banks …
By Arpan Chaturvedi NEW DELHI (Reuters) – India’s proposed EU-like antitrust law will pose a fresh regulatory challenge for tech firms including Apple, Google and Meta, laying out strict compliance obligations that could affect their business models. The Indian government is currently examining a panel’s February report that proposed a new “Digital Competition Bill” to …
Factbox-India’s EU-like antitrust law worrying technology firms Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee’s choppy trading last week in the wake of the national election results prompted importers and exporters to hedge a larger portion of their foreign exchange book in the forwards market, data showed. Importers bought foreign exchange forward contracts worth $9 billion last week, a more than …
Indian firms ramped up forex hedging in volatile election-results week Read More »
BENGALURU (Reuters) -IndiGo airline’s biggest shareholder will sell a 2% stake worth $394 million in the low-cost Indian carrier on Tuesday, per a term sheet seen by Reuters, marking its first such sale in at least four years during which the company’s stock has soared. Interglobe Enterprises, which had a 37.75% stake in Interglobe Aviation, …
Indian airline IndiGo’s top shareholder to sell 2% stake, worth $394 million Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was nearly flat on Tuesday, with traders expecting the currency to largely move sideways as the Reserve Bank of India continued to hurdle sharp declines that also helped cool near-term volatility expectations. The rupee was at 83.4975 against the U.S. dollar as of 09:50 a.m. IST, …
Rupee flat, volatility expectations drop as RBI maintains grip Read More »
By Ira Dugal MUMBAI (Reuters) – Indian Prime Minister Narendra Modi’s government has no plans to increase its fiscal deficit target despite speculation that more spending might be needed to appease coalition partners, a government official said. Modi’s Bharatiya Janata Party (BJP) failed to win an outright majority in elections that concluded on June 1, …
India PM Modi’s government to stick to deficit target despite poll setback, says source Read More »
By Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) -Nirmala Sitharaman, who is credited with India’s economic success over the past five years, will remain finance minister in Prime Minister Narendra Modi’s third term, taking on the challenge of ensuring more equitable growth across the world’s most populous nation. Sitharaman, 64, who became the nation’s …
India’s Sitharaman gets finance portfolio for a second term, with new challenges Read More »
By Harshit Verma (Reuters) – Gold prices rebounded on Monday after the precious metal’s biggest daily drop in three and a half years in the last session, as investors awaited U.S. inflation data and the Federal Reserve’s decision on interest rates later this week. Spot gold was up 0.8% at $2,310.81 per ounce as of …
Gold rebounds as market’s focus turns to US inflation data Read More »
NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi’s new coalition government on Monday appointed Nirmala Sitharaman as finance minister for a second consecutive term, the government said in a statement. Ministerial posts were allotted a day after Modi was sworn in for a rare third term, and his cabinet held its first meeting on Monday …
Indian PM Modi’s government retains Sitharaman as finance minister Read More »
