Reuters India Business

BENGALURU (Reuters) – Indian fast-moving consumer goods’ sales rose in January-March, with rural growth outpacing that in urban areas for the first time in five quarters, market researcher NielsenIQ said on Tuesday. Consumer goods-makers in the world’s fifth-largest economy have been struggling with sluggish demand, especially in the hinterlands, as higher prices of essentials including …

Rural India’s consumer products demand outpaces urban areas, NielsenIQ says Read More »

(Reuters) – India’s fuel consumption rose by 6.1% year-on-year in April, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Tuesday. WHY IT IS IMPORTANT India is the world’s third-biggest oil importer and consumer. The data is a proxy for the country’s oil demand. KEY QUOTE “The rise in total …

India’s April fuel demand edges up 6.1% year-on-year Read More »

COLOMBO (Reuters) – Sri Lanka has entered into a 20-year power purchase agreement with India’s Adani Green Energy Ltd for two wind power stations developed by the company, a cabinet statement said on Tuesday. Adani Green Energy, the renewable energy unit of the Adani Group, led by billionaire Gautam Adani, won the approval in February …

Sri Lanka inks 20-year power purchase deal with India’s Adani Green Read More »

By Gaurav Dogra (Reuters) – Key Asian markets witnessed modest foreign outflows in April, driven by a rise in U.S. Treasury yields, as traders expect the Federal Reserve to keep interest rates elevated for longer to combat inflationary pressures. Data from stock exchanges in Taiwan, India, Indonesia, Vietnam, the Philippines, Thailand, and South Korea revealed …

Asian stocks face modest foreign outflows in April Read More »

BENGALURU (Reuters) – Foreign investors offloaded financials, information technology and consumer stocks in April, data from the National Securities Depository Ltd (NSDL) showed on Tuesday. Foreign portfolio investors (FPI), who bought 2.08 trillion rupees worth of Indian shares in the 12 months ending March, sold shares worth 86.71 billion rupees in April, amid concerns over …

Foreign investors offload India’s financials, IT stocks in April, NSDL data shows Read More »

By Arathy Somasekhar, Marianna Parraga and Nidhi Verma HOUSTON/NEW DELHI (Reuters) – Indian oil refiner Reliance Industries has resubmitted a request to the U.S. for an authorization to import crude oil from sanctioned Venezuela, three people close to the matter said, and resume oil trade between the OPEC producer and the once second-largest destination for …

India’s Reliance renews bid for US license to import Venezuelan oil, sources say Read More »