By Anjana Anil (Reuters) – Gold climbed over 1% on Wednesday after the U.S. Federal Reserve indicated they expect to reduce interest rates by three quarters of a percentage point by end-2024, sending the dollar and Treasury yields lower. Spot gold rose 1.2% to $2,183.02 per ounce by 15:23 p.m. EDT (1923 GMT). U.S. gold …
Gold advances on renewed rate cut bets after Fed verdict Read More »
By Nidhi Verma NEW DELHI/MOSCOW (Reuters) – (This content was partly produced in Russia where the law restricts coverage of Russian military operations in Ukraine.) India’s Reliance Industries, operator of the world’s biggest refining complex, will not buy Russian oil loaded on tankers operated by shipper Sovcomflot (SCF) after recent U.S. sanctions, according to two …
By Dhwani Pandya and VarunVyas Hebbalalu MUMBAI (Reuters) -A JSW Group and MG Motor joint venture aims to have sold 1 million electric vehicles in India by 2030 and to corner a third of the market, a JSW executive said on Wednesday. At a media event in Mumbai to present their new model, the “Cyberster …
JSW says MG Motor JV aims to sell 1 million EVs in India by 2030 Read More »
BENGALURU (Reuters) – Two big Canadian pension funds invested a total of C$595 million ($438.3 million) in India’s National Highways Infra Trust (NHIT) this week, dialling up their bets on the poll-bound South Asian country’s booming infrastructure sector. In the trust backed by the Indian government for developing national highways, the Canada Pension Plan Investment …
By Neha Arora NEW DELHI (Reuters) – Indian sponge iron producers have urged the government to impose duties on exports of low-grade iron ore to stave off shortages of the main raw material in the world’s second-biggest crude steel producer. “We have urged the government that there is a shortage of iron ore, (so) please …
India’s sponge iron producers seek duties to curb iron ore exports Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares reversed early gains ahead of the U.S. Federal Reserve’s interest rate decision, while Eicher Motors jumped after UBS upgraded the stock. The blue-chip NSE Nifty 50 index shed 0.45% to 21,718, while the BSE Sensex fell 0.44% to 71,699.09, as of 10:51 a.m. IST. They had risen about …
Indian shares lower ahead of Fed decision; Eicher gains on UBS upgrade Read More »
BENGALURU (Reuters) – India’s HDFC Bank said on Wednesday it has completed the sale of its stake in education finance arm HDFC Credila for 95.53 billion rupees ($1.15 billion) to private equity firms BPEA EQT and ChrysCapital. The deal, announced in June last year, was part of mandated regulatory requirements before the completion of mortgage …
India’s HDFC Bank closes $1.15 billion stake sale in HDFC Credila Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is set for a quiet session on Wednesday, eyeing whether the U.S. Federal Reserve will signal fewer rate cuts this year, compared to its December projections. Non-deliverable forwards indicate the rupee will open in the 83.01-83.03 range to the U.S. dollar, compared with the previous session’s …
Rupee awaits Fed’s forecast on number of interest rate cuts Read More »
By Anjana Anil (Reuters) – Gold prices retreated on Tuesday as the dollar strengthened a day before the Federal Reserve signals its interest rate stance at the end of the U.S. central bank’s two-day policy meeting. Spot gold fell 0.2% to $2,155.93 per ounce as of 2:18 p.m. EDT (1817 GMT), hovering close to the …
Gold loses footing as US dollar rises; Fed in focus Read More »
BENGALURU (Reuters) – Indian telecom operator Vodafone Idea Ltd said on Tuesday American Tower Corp (ATC) Telecom Infrastructure has requested conversion of debentures worth 14.4 billion rupees ($173.5 million) into equity shares. Vodafone Idea said it will take necessary action to allot ATC 1.44 billion fully paid-up equity shares by converting its 14,400 optionally convertible …
