Reuters India Business

By Swati Bhat MUMBAI (Reuters) – India needs to cut interest rates to help its economy reach its potential growth but the members of the South Asian nation’s monetary policy committee (MPC) are divided on the timing of such cuts, interviews with two external members suggest. “We are in a catch-up growth phase. Growth has …

India needs rate cuts to reach potential growth, say MPC members Varma, Goyal Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Monday, tracking a rebound in Asian peers, as IT major Wipro rose post earnings and falling crude prices helped oil marketing companies, but a fall in top private lender HDFC Bank capped gains. The NSE Nifty 50 was up 0.40% at 22,236.05 as of 10:37 a.m. …

Indian shares rise tracking Asia rebound; drop in HDFC Bank caps gains Read More »

BENGALURU (Reuters) – Shares of Wipro rose as much as 2.4% on Monday, after India’s No.4 software services exporter posted better-than-expected fourth-quarter results, while some analysts pinned hopes on new CEO Srinivas Pallia to anchor a turnaround. Its shares were up 1.8% at 460.60 rupees by 10:10 a.m. IST, leading gains on the Nifty IT …

India’s Wipro rises as Street pins hopes on new CEO after Q4 results Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee logged modest gains in early trading on Monday on dollar sales from foreign banks but traders expect the upside to be capped as U.S. bond yields continue to hover at elevated levels. The rupee was at 83.4325 against the U.S. dollar as of 10:00 a.m. IST, …

Rupee ticks up on foreign banks’ dollar sales; forward premiums slip Read More »

By Manoj Kumar NEW DELHI (Reuters) – Income tax receipts in India, comprising personal and corporate levies, rose 17.7% year-on-year to nearly $235 billion in the 2023/24 financial year ending in March, reflecting the rising incomes of rich taxpayers and corporate profits. Net income tax receipts for the 2023/24 financial year ending in March rose …

India’s income tax receipts up 17.7% yr/yr in 2023/24, near $235 billion Read More »

By Siddhi Nayak MUMBAI (Reuters) -HDFC Bank, India’s largest private lender, posted a smaller-than-expected quarterly profit on Saturday due to higher loan provisions, even as the bank’s lending margins held steady from the previous quarter. HDFC Bank, the first Indian lender to report fiscal fourth-quarter results, posted a standalone net profit of 165.12 billion rupees …

India’s HDFC Bank misses Q4 profit view on higher provisions; margins stable Read More »

By Aditi Shah, Aditya Kalra and Sarita Chaganti Singh NEW DELHI (Reuters) – Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year. “Unfortunately, very heavy Tesla obligations require that …

Tesla’s Elon Musk postpones India trip, aims to visit this year Read More »

NEW DELHI (Reuters) – India, the world’s third biggest oil importer and consumer, discussed recent trends and volatility in the global oil market and their impact on global energy stability with OPEC secretary general on Friday, a government statement said. During the telephone conversation with Haitham Al-Ghais India’s oil minister Hardeep Singh Puri “emphasized the …

India discussed oil market volatility with OPEC chief, government says Read More »

(Corrects syntax in the headline) By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) – India’s Wipro edged past low revenue expectations in the fourth quarter on Friday, helped by a pick up in its consulting business, and its new CEO said kickstarting growth in the country’s No.4 software-services exporter was a top priority. The …

India’s Wipro scrapes past lowered revenue expectations, prioritises growth pick-up Read More »