By Siddhi Nayak MUMBAI (Reuters) – Paytm posted a wider loss in the fourth quarter on Wednesday and warned of further financial impact in the current quarter as the Indian digital payments firm absorbs the full impact of the Reserve Bank of India’s (RBI) directive to wind down its banking unit. The company’s consolidated net …
India’s Paytm warns of more financial impact from banking unit wind down Read More »
By Sai Ishwarbharath B BENGALURU (Reuters) – Mid-tier firms in India’s $254 billion information technology sector took market share from industry goliaths in recent quarters as clients curtailed discretionary spending amid inflationary pressures and economic uncertainty, analysts said. Unlike their larger rivals such as Tata Consultancy Services and Infosys, mid-tier IT firms tend to focus …
India’s mid-tier IT firms gain share from industry goliaths Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose to its highest in over a month on Tuesday, aided by dollar sales from large foreign banks and a dip in Treasury yields ahead of the release of minutes from the Federal Reserve’s latest policy meeting later in the day. The rupee was at 83.23 …
Rupee climbs to over one-month high on foreign banks’ dollar sales Read More »
By Harshit Verma (Reuters) – Gold prices cooled near a record peak hit in the previous session on Tuesday as the dollar held ground, but stayed afloat at the $2,400 level on support from safe-haven interest and prospects of U.S. interest rates easing this year. Spot gold fell 0.2% to $2,420.49 per ounce by 1756 …
Gold prices cool near record peak as dollar holds footing Read More »
By Nikunj Ohri and Swati Bhat NEW DELHI/MUMBAI (Reuters) -The Indian government is open to buying back more bonds and cut borrowings through treasury bills as part of its short-term cash management, a source familiar with the matter said on Tuesday. “We are open to cutting T-bill issuances but it will depend on government’s spending …
India open to buying back more bonds, cut short-term borrowings Read More »
BENGALURU (Reuters) – India’s JK Tyre and Industries reported a 56.2% rise in fourth-quarter profit on Tuesday, helped by sustained demand. Consolidated net profit rose for the sixth straight quarter to 1.69 billion rupees ($20.29 million) for the three months ended March 31 from 1.08 billion rupees a year earlier. Revenue from operations rose 1.8% …
India’s JK Tyre Q4 profit rises on sustained demand Read More »
By Swati Bhat MUMBAI (Reuters) – Aggregate demand momentum in India is rising, with the overall non-food spending being pushed up by green shoots in rural spending recovery, the Reserve Bank of India said in its monthly bulletin on Tuesday. “Recent indicators are pointing to a quickening of the momentum of aggregate demand. In the …
Demand momentum in India rising, rural spending picking pace, says RBI Read More »
By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares recovered to close flat on Tuesday, with gains in metal stocks offsetting declines in other sectors following top consumer China’s property-support measures. The blue-chip NSE Nifty 50 rose 0.12% to 22,529.05 points, while the S&P BSE Sensex shed 0.07% to 73,953.31. Both the benchmarks shed …
By Nidhi Verma NEW DELHI (Reuters) – India’s Russian oil imports rose a nine-month high in April after shipments on non-sanctioned tankers operated by Russia’s largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed. Refiners in India briefly stopped importing Russian oil in tankers belonging to Sovcomflot after the company’s …
India’s Russian oil imports rise to nine-month high in April Read More »
NEW DELHI (Reuters) – India has reaffirmed restrictions on the import of unregistered or non-compliant electronics products, an order that has been in place since 2021, according to a government order dated Monday. “There is no implication of this notification. The import policy for these categories in question were restricted anyway, so its status quo,” …
India reaffirms restrictions on import of non-compliant electronics Read More »
