By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose to its strongest level in six months on Thursday aided by dollar sales from large foreign banks but likely intervention from the Indian central bank eroded the local unit’s early gains. The rupee was at 82.7750 against the U.S. dollar as of 10:25 a.m. IST, …
Rupee retreats from six-month high on likely central bank intervention Read More »
By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares pared gains after hitting fresh record highs at the open on Thursday, weighed down by Mahindra & Mahindra, while the U.S. Federal Reserve Chair’s rate cut assurance triggered a rally in other Asian markets. The blue-chip NSE Nifty 50 was up 0.07% to 22,490.40 as …
Indian shares ease after opening at record highs, weighed down by Mahindra & Mahindra Read More »
MUMBAI (Reuters) – The Indian central was likely buying U.S. dollars via state-run banks, four traders told Reuters on Thursday. The rupee was last quoted at 82.79 against the U.S. dollar, up from its intraday high of 82.7350. The rupee rose to its highest level in six months, aided by broad weakness in the U.S. …
Indian central bank likely buying US dollars via state-run banks, traders say Read More »
By Anjana Anil (Reuters) – Gold rallied to a record on Wednesday, building on stellar momentum driven mostly by bets for U.S. monetary easing, while autocatalyst palladium popped back above the $1,000 mark for the first time since Jan. 12. Spot gold gained 0.8% to $2,145.09 per ounce as of 2:03 p.m. ET (1903 GMT) …
Gold extends record run as rate cut bets gain ground Read More »
NEW DELHI (Reuters) -India’s federal government will offer to sell a stake of up to 7% in coal miner NLC India this week, according to filing to the stock exchange. The government holds a 79.2% stake in the company, whose shares have nearly tripled over the last year to 226.70 rupees as of Wednesday. The …
Indian government to sell up to 7% stake in coal miner NLC Read More »
By Siddhi Nayak and Jaspreet Kalra MUMBAI (Reuters) -India’s central bank on Wednesday said issuers of credit cards cannot enter into any arrangement or agreement with card networks that restrain customers from availing the services of other networks. “On a review, it is observed that some arrangements existing between card networks and card issuers are …
India cenbank asks card issuers to give users choice of selecting network Read More »
By John Revill ZURICH (Reuters) – Siemens is “very positive” about its prospects in India, managing board member Matthias Rebellius said, as the country’s economy booms and offers the chance to diversify from China. Rebellius, head of Siemens’ Smart Infrastructure business, said India was a priority for future investments as it upgrades its electric grid …
Siemens has high hopes for India as economy booms, executive says Read More »
BENGALURU (Reuters) -Shares of India’s JM Financial fell 20% on Wednesday, after the central bank barred one of its units from any form of financing against shares and debentures, including loans to customers to subscribe to initial public offerings. The diversified financial services group, with a market cap of 73 billion rupees, includes a non-bank …
Shares of India’s JM Financial slide after central bank strictures Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee traded in a narrow range, and forward premiums rose on Wednesday ahead of Federal Reserve Chair Jerome Powell’s testimony, while the overnight swap rate remained largely unchanged. The rupee was at 82.8950 at 10:32 a.m. IST, unchanged from the previous session. The currency has been in …
Rupee muted, forward premiums inch up; overnight swap rate steady Read More »
By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) – Indian shares fell on Wednesday, weighed by information technology stocks, while energy and metals fell on a lack of major economic stimulus measures from China. The blue-chip NSE Nifty 50 shed 0.27% to 22,294.95 as of 10:51 a.m. IST, while the BSE Sensex dropped 0.21% to …
Indian shares drop as IT, metals weigh; small-, mid-caps underperform Read More »
