By Anjana Anil and Ashitha Shivaprasad (Reuters) – Gold prices rose above $2,400 per ounce to an all-time high on Friday, heading for their fourth week of gains, as growing tensions in the Middle East prompted investors to seek refuge in the safe-haven assets. Spot gold eased 0.8% to $2,353.35 per ounce as of 1:40 …
Gold surges as Middle East tensions spur safe-haven rush Read More »
NEW DELHI (Reuters) – India’s industrial output grew at the fastest annual rate in four months in February, increasing 5.7% compared with the same month last year, government data showed on Friday. Economists polled by Reuters had estimated year-on-year growth of 6% in February. Annual industrial output growth for January was revised to 4.1% from …
India’s industrial output grows at fastest rate in four months in February Read More »
By Haripriya Suresh and Sai Ishwarbharath B BENGALURU (Reuters) – Tata Consultancy Services said on Friday it is banking on its robust deal pipeline to drive growth in 2025 after it reported lower-than-expected quarterly revenue on weak client spending in North America. The $254-billion Indian IT sector’s clients have been curtailing their discretionary spends amid …
India’s TCS pins hopes on strong deal pipeline to drive growth in fiscal 2025 Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -India’s annual retail inflation rate eased in March to a five-month low helped by a drop in fuel prices, government data showed on Friday, but economists say a rate cut by the central bank is still some months away as food prices remain sticky. Annual retail inflation in …
India’s March retail inflation eases to five-month low Read More »
(Reuters) – India’s retail inflation in March eased to 4.85% from 5.09% in February, government data showed on Friday. A Reuters poll of 50 economists had forecast retail inflation at 4.91% for the month. COMMENTARY: GARIMA KAPOOR, ECONOMIST, INSTITUTIONAL EQUITIES, ELARA SECURITIES, MUMBAI “March CPI (consumer price index) inflation came in line with expectations amid …
Instant View: India’s March retail inflation eases to 4.85% y/y Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves rose for the seventh straight week to hit a record high of $648.56 as of April 5, data from the central bank showed on Friday. The reserves rose by $2.98 billion in the reporting week, after having risen by a total of $29.45 billion in the previous six …
India’s forex reserves rise for seventh consecutive week to record high Read More »
By Bharath Rajeswaran and Nishit Navin BENGALURU (Reuters) -India’s blue-chip indexes dropped 1% each on Friday, weighed down by financial and information technology stocks, as hot U.S. inflation data earlier this week dimmed hopes of early interest rate cuts by the Federal Reserve. The drop on Friday erased weekly gains for the NSE Nifty 50 …
Fading US rate cut hopes erase weekly gains for Indian shares; March CPI data eyed Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices firmed on Thursday after softer-than-expected U.S. producer prices data boosted hopes for U.S. rate cuts this year, while persistent geopolitical concerns added to the metal’s shine. Spot gold rose 1.1% to $2,360.52 per ounce, as of 2:15 p.m. EDT (1815 GMT). Bullion prices hit an all-time high for …
BENGALURU (Reuters) -Japan’s Mitsubishi UFJ Financial Group (MUFG) is buying a 20% stake in HDFC Bank’s non-banking unit HDB Financial Services, valuing the IPO-bound subsidiary between $9 billion and $10 billion, the Economic Times reported on Friday. The final decision is likely to take place next week at the HDFC Bank board meeting, according to …
By Rama Venkat BENGALURU (Reuters) -Bharti Hexacom’s shares surged 54.4% in their trading debut on Friday, beating analysts’ expectations and valuing the Indian telecom operator at 440 billion rupees ($5.28 billion). The stock opened at 755 rupees, subsequently climbing to 880 rupees. Analysts had expected the stock to list at a 10%-15% premium on its …
India’s Bharti Hexacom jumps 54% in debut trade at over $5 billion valuation Read More »
