By Nivedita Bhattacharjee BENGALURU (Reuters) – Lokeswara Reddy, an Indian farmer with two decades of experience, has seen his crops flourish after lean years, thanks to earth-observation satellites. Shifting climate patterns, high input costs, a scarcity of labour and erratic weather began to disrupt his earnings about 10 years ago, said Reddy, 52, currently a …
Space data fuels India’s farming innovation drive Read More »
By Rahul Paswan (Reuters) – Gold prices edged lower on Thursday as the dollar rebounded, although signs of cooling U.S. inflation cemented hopes for interest rate cuts from the Federal Reserve this year and kept bullion near the one-month peak. Spot gold fell 0.3% to $2,379.60 per ounce as of 1817 GMT, after hitting its …
Gold eases as dollar gains, Fed rate cut bets lend support Read More »
By Rishika Sadam HYDERABAD (Reuters) -Britain’s food watchdog has applied extra control measures on all spice imports from India, it said on Wednesday, becoming the first to ramp up scrutiny of all Indian spices after contamination allegations against two brands sparked concerns among global food regulators. Hong Kong last month suspended sales of three spice …
By Meenakshi Maidas and Nandan Mandayam BENGALURU (Reuters) -Indian automaker Mahindra & Mahindra said on Thursday it would invest $1.44 billion over the next three years in its electric vehicle (EV) unit to boost growth, even though it is now also closely looking at hybrid technology. Mahindra, India’s third-biggest EV maker, currently sells just one …
India’s Mahindra & Mahindra to invest $1.44 billion in EV arm; explores hybrid tech Read More »
BENGALURU (Reuters) – Vodafone Idea, India’s third-largest telecom operator by subscribers, missed analysts’ estimates for quarterly revenue on Thursday, hurt by its shrinking user base. The company’s consolidated revenue rose 0.7% to 106.07 billion Indian rupees ($1.27 billion) for the quarter ended March 31, compared with LSEG estimates of 107.15 billion rupees. Consolidated loss after …
India’s Vodafone Idea misses Q4 revenue view as subscriber base narrows Read More »
HYDERABAD (Reuters) – Indian biopharmaceutical company Biocon reported a decline in its fourth-quarter profit on Thursday, as soaring raw material costs overshadowed growth in its biosimilar business in key United States and Europe markets. The company’s consolidated net profit fell 56.6% to 1.36 billion rupees ($16.3 million) for the quarter ended March 31. Its revenue …
India’s Biocon posts Q4 profit fall as higher raw material costs bite Read More »
By Dimpal Gulwani and Bharath Rajeswaran BENGALURU (Reuters) – Indian shares advanced on Thursday, led by information technology stocks after softer-than-expected U.S. inflation data reignited hopes of at least two interest rate cuts in 2024. The blue-chip NSE Nifty 50 rose 0.92% to 22,403.85 points, while the S&P BSE Sensex settled 0.93% higher at 73,663.72. …
IT stocks, Mahindra & Mahindra lift Indian shares to best session in over 2 weeks Read More »
MUMBAI (Reuters) – India’s central bank has cautioned non-bank finance companies (NBFCs) against becoming over-reliant on algorithm-based credit models, while also urging them to avoid overlending in certain segments. Rule-based models can lead to inaccuracies in credit assessment, Deputy Governor Swaminathan J said in a speech released on the Reserve Bank of India’s website on …
India cenbank cautions non-bank lenders against growing reliance on algo credit models Read More »
By Neha Arora NEW DELHI (Reuters) – India’s steel industry, already reeling from cheaper imports, is worried about a surge in shipments from China after the United States imposed tariffs on Chinese steel, industry executives and analysts said. U.S. President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports including …
Indian steel mills fear surge in Chinese imports after U.S. tariffs Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose slightly on Thursday, aided by a drop in U.S. bond yields and a weaker dollar after soft U.S. inflation data boosted hopes that the Federal Reserve may begin easing policy rates from September. The rupee was at 83.46 against the U.S. dollar as of 09:40 …
Rupee gains but lags behind Asian peers, forward premiums rise Read More »
