By Kavya Balaraman and Anjana Anil (Reuters) – Gold prices hit a record high on Thursday, and logged their best month in over three years, propelled by U.S. interest rate cut expectations and strong safe-haven demand. Spot gold gained 1.2% to $2,220.85 per ounce as of 1:50 p.m. EDT (1750 GMT), logging its best month …
Gold hits record highs on safe-haven demand, US rate cut bets Read More »
BENGALURU (Reuters) – India’s Adani Energy Solutions is looking to borrow as much as $600 million to fund smart meter projects for electricity supply, Bloomberg News reported on Thursday citing people familiar with the matter. The Indian power distribution company is in talks with a group of global lenders, with the foreign currency loan’s tenor …
Adani Energy mulls borrowing up to $600 million from banks, Bloomberg News reports Read More »
By M. Sriram MUMBAI (Reuters) – Indian food delivery giant Swiggy recorded a $200 million loss for the nine months to December 2023, according to an internal document of the company, which is looking to list on the stock market. The SoftBank-backed company could list by the end of this year, sources previously told Reuters. …
India’s Swiggy records $200 million loss, document shows, as it plans IPO Read More »
BENGALURU (Reuters) – India’s blue-chip Nifty 50 index surged nearly 29% this financial year, ending March 31, powered by a booming economy and strong fund inflows that helped mark the best year for domestic stocks since a post-COVID bounce in fiscal 2021. Aided by the rally in domestic equities, the overall market capitalisation of all National Stock Exchange (NSE) …
Strong economy, flows power India’s Nifty to best fiscal year since 2021 Read More »
By Dharamraj Dhutia MUMBAI (Reuters) -Indian mutual funds are likely to continue swapping the central government debt on their books with high-yielding state government bonds, expecting the spread in yields between the two to ease soon, four fund managers said on Thursday. “Mutual funds likely sold 10-year government bond and got into state debt, as …
Indian mutual funds to keep buying state bonds, expect yields to fall Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Thursday, paring early gains as dollar sales from state-run banks offset demand from local corporates and slight weakness in broader Asian peers. The rupee was at 83.3625 against the U.S. dollar as of 11:10 a.m. IST, compared to its previous close of …
Rupee little changed, traders cite ‘mild’ dollar sales from state-run banks Read More »
By Neha Arora NEW DELHI (Reuters) – India will send two delegations next month to Chile to scout for lithium and copper resources, a government source said, as rapid economic expansion and New Delhi’s efforts to speed up the energy transition stoke demand for critical minerals. Chile is a key target as it is the …
India to send teams to Chile seeking lithium and copper assets, source says Read More »
By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares advanced on Thursday to close the fiscal year with weekly and quarterly gains in a holiday-shortened week, led by financials after the central bank eased recently tightened rules for lenders’ investments in alternative investment funds. The blue-chip NSE Nifty 50 index rose 0.92% to 22,326.90, …
Indian shares close FY24 with weekly, quarterly gains, led by financials Read More »
By M. Sriram MUMBAI (Reuters) – India’s Alteria Capital said on Thursday it has raised 15.5 billion rupees ($186.05 million) for its third fund, bolstering its ability to lend to startups which have historically boomed but are now struggling to find backers. Alteria, founded by former executives of Temasek-backed InnoVen Capital, has backed more than …
India’s Alteria Capital closes third fund at $180 million Read More »
BENGALURU (Reuters) -Indian billionaire Gautam Adani’s family infused 66.61 billion rupees (about $799 million) in Ambuja Cements, raising its stake to about 67% from 63.15%, to help ramp up the cement maker’s manufacturing capacity. The family has raised its stake by converting warrants into shares, Ambuja said in an exchange filing on Thursday. The Adani …
Billionaire Gautam Adani’s family raises Ambuja Cement stake with $799 million infusion Read More »
