Reuters India Business

(Reuters) -India’s Ambuja Cements said on Monday that its second-quarter profit more than doubled from a year earlier, lifted by a recovery in prices and higher-than-expected volume growth in a seasonally weak period. The Adani Group firm’s net profit surged to 13.88 billion rupees (about $158 million) in July-September from 5.01 billion rupees last year. …

India’s Ambuja Cements profit soars on price recovery, volumes growth Read More »

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) -Goldman Sachs is advising clients to take a bullish position on the Indian rupee, using an exotic option structure, despite its latest slide toward its all-time low. Taking positive cues from developments in India-U.S. trade negotiations – such as the reduction of Russian oil purchases by state-run …

Goldman Sachs backs bullish Indian rupee wager banking on tarriff turnaround Read More »

By Dharamraj Dhutia MUMBAI (Reuters) -The Reserve Bank of India will meet select primary dealers and banks on Tuesday, three traders aware of the developments told Reuters, amid concerns that tightening liquidity in the banking system is pressuring the government bond market. The meeting, though without a formal agenda, is expected to focus on current …

India’s RBI to meet banks, dealers amid liquidity strain, say sources Read More »

By Sethuraman N R NEW DELHI (Reuters) -India’s power output fell at the fastest pace last month since the pandemic, as subdued industrial activity and unusually wet weather dented electricity demand and reduced cooling needs, a Reuters analysis of government data showed. Total electricity generation in October fell 6% year-on-year to 142.45 billion kilowatt-hours (kWh), …

India’s October power output sees sharpest drop since COVID as rains dampen demand Read More »

MUMBAI (Reuters) -The Reserve Bank of India likely intervened to help the rupee hold above its all-time low on Monday, four traders told Reuters, as the currency encountered pressure due to a broadly firmer dollar and persistent importer hedging. The rupee was last at 88.76 per U.S. dollar, nearly flat versus its closing level in …

Indian central bank steps in to help rupee avert fall past record low, traders say Read More »

NEW DELHI/SINGAPORE (Reuters) -India’s Bharat Petroleum Corp has bought crude oil from Abu Dhabi in a spot tender to replace oil from Russia after the U.S. sanctioned two major Russian producers, two trade sources said on Monday. The Indian refiner purchased 2 million barrels of Upper Zakum crude for loading in December, they said. One …

India’s BPCL buys Upper Zakum crude for December to replace Russian oil, sources say Read More »

By Dharamraj Dhutia and Jaspreet Kalra MUMBAI (Reuters) -The Indian rupee faces the risk of breaching its record low this week and may count on the central bank’s interventions to prevent that while government bond traders are also looking for continued backing from the central bank to contain yields. The rupee closed at 88.7650 against …

India rupee prone to fall past record low, rate outlook key for bond yields Read More »