By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee closed lower on Monday, pressured by weakness in Asian currencies and dollar purchases by state-run banks. The rupee settled at 82.9050 to the U.S. dollar compared with 82.8775 in the previous session. The local unit traded in a 82.83 to 82.9150 band in Monday’s session. “Inflows …
Rupee falls on weak Asian currencies, state-run banks’ dollar purchases Read More »
MUMBAI (Reuters) – Most dollar bonds of Adani Group companies fell to their lowest level in two months on Monday following a report indicating that U.S. prosecutors have widened their investigation of the conglomerate to examine potential bribery. Shares of all 10 group and related companies also fell over 5% in early trading in India, …
India Adani Group’s dollar bonds, shares tumble on US probe report Read More »
(Reuters) – India’s market regulator on Friday deferred a full launch of optional same day settlements, according to a press release. The Securities and Exchange Board of India (SEBI) said that same day settlement, or T+0, would be launched for only 25 stocks and with a limited set of brokers to test the efficacy of …
India market regulator defers full launch of same day settlement Read More »
By Anjana Anil (Reuters) – Gold prices held steady on Friday as they looked set to log their first weekly drop in four as investors lowered expectations of a U.S. interest rate cut after data over the week showed bubbling price pressures. Spot gold was little changed at $2,159.99 per ounce, as of 2:42 p.m. …
Gold faces first weekly loss in four as rate cut bets dwindle Read More »
(Reuters) -The United States has widened its investigation of India’s Adani Group to focus on the conduct of its founder, Gautam Adani, and whether the company may have engaged in bribery, Bloomberg News reported on Friday. Prosecutors are digging into whether an Adani entity or people linked to the company, including Gautam Adani, were involved …
US probing Adani Group and founder over potential bribery, Bloomberg reports Read More »
NEW DELHI/BENGALURU (Reuters) -India’s antitrust body on Friday ordered a probe into Alphabet Inc’s Google in an ongoing dispute with local startups over its in-app billing system, saying the U.S. company implemented its policies in a “discriminatory manner”. Indian startups have been at odds with Google for months over the fee it charges for in-app payments. …
India antitrust body to probe Google’s in-app billing amid dispute with startups Read More »
BENGALURU (Reuters) – India said on Friday it would lower import taxes on certain electric vehicles produced by carmakers that commit to invest at least $500 million and start domestic manufacturing within three years. The policy will lead to increased competition for domestic automakers from companies like Tesla and VinFast that are looking to tap …
Factbox-Electric vehicle plans of Indian automakers Read More »
By Tanvi Mehta and Aditi Shah NEW DELHI (Reuters) -India on Friday lowered import taxes on certain electric vehicles produced by carmakers that commit to invest at least $500 million and start domestic manufacturing within three years, bolstering Tesla’s plans for the market. The policy is a big win for Tesla as it’s in line …
In big win for Tesla, India to lower EV import tax if $500 million invested Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian small- and mid-cap share indexes have lost about $70 billion in combined market value this week, after the country’s markets regulator raised concerns about “froth” and suggested mutual funds limit lump sum investments. These stocks are also set for their worst week in 15 months, as mutual funds start disclosing …
India’s small, mid-caps stocks lose $70 billion amid moves to skim froth Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – Bandhan Asset Management has taken the unique stop of investing in 30-year Indian government bonds due to the structural reduction in the risk profile of domestic fixed income and the fund house’s plan to cut reinvestment risks, its fixed income head said. “Instead of locking away at around 7% …
Indian debt’s improving risk profile makes 30-year bonds alluring, Bandhan AMC says Read More »
