Reuters India Business

By Nandan Mandayam and Navamya Ganesh Acharya BENGALURU (Reuters) – Shares of Indian food delivery platform Zomato hit a record high on Friday, as improving profitability paves the way for future growth, triggering a turnaround in investor sentiment. Zomato is the most-valuable internet stock in Asia’s third-largest economy, with a market capitalisation of more than …

India’s Zomato hits record high, bucking internet stocks’ sluggishness Read More »

BENGALURU (Reuters) – Indian automakers continued to report a steady rise in sales in February, helped by demand for two-wheelers and utility vehicles, monthly sales data from companies showed. Each month, automobile makers in India release wholesale numbers – or vehicle sales to dealers. Tata Motors reported a 19% year-on-year rise in its passenger vehicle …

India auto sales sustain growth in February Read More »

By Bharath Rajeswaran and VarunVyas Hebbalalu BENGALURU (Reuters) -India’s blue-chip indexes Nifty 50 and Sensex hit fresh record highs on Friday, aided by faster-than-expected domestic economic growth, while analysts saw extraordinary bullish sentiment from domestic investors in the derivatives segment. The blue-chip index NSE Nifty 50 was up 1.50% at 22,312.65, while the BSE Sensex …

Strong domestic economic data propels India’s Nifty, Sensex to new record highs Read More »

MUMBAI (Reuters) – India’s third-quarter gross domestic product (GDP), which rose by a stronger-than-expected 8.4% compared to a year ago, may be overstating growth, economists said, pointing to a more modest increase in gross value added in the economy. Alongside GDP, the government’s statistical office releases data for gross value added (GVA), which is a …

India Q3 GDP data may overstate growth trends, economists say Read More »

By Siddhi Nayak and VarunVyas Hebbalalu MUMBAI/BENGALURU (Reuters) -Payments firm Paytm on Friday cut some ties with its payments bank unit, which India’s banking regulator has ordered to be wound down, in its latest attempt to address compliance concerns that triggered a meltdown in its shares last month. Paytm, formally known as One 97 Communications, …

India’s Paytm terminates some ties with troubled banking unit Read More »

(Reuters) – India will stick to its revised fiscal deficit target of 5.8% for fiscal year 2024, a top government source said on Friday. The country’s economy grew at its fastest pace in one-and-a-half years in the final three months of 2023, data released on Thursday showed. (This story has been refiled to fix a typo in the …

India will stick to revised fiscal deficit target of 5.8% for FY24 – govt source Read More »

By Shaloo Shrivastava BENGALURU (Reuters) – India’s manufacturing industry enjoyed robust growth in February with activity expanding at its fastest pace in five months, led by accelerated global demand and lower inflationary pressures, a private survey showed. The HSBC final India Manufacturing Purchasing Managers’ Index, compiled by S&P Global, rose to 56.9 in February from …

India’s factory growth at five-month high in February, cost pressures cool Read More »

By Nimesh Vora MUMBAI (Reuters) – India’s central bank requiring underlying foreign exchange exposure for exchange-traded rupee derivative transactions has confused brokers and left them worried about the potential impact on activity in this growing segment. The Reserve Bank of India (RBI) in a Jan. 5 circular said that stock exchanges may offer forex derivative …

India cenbank’s new rule on exchange-traded rupee derivatives confuses brokers Read More »

By Emma Farge, Alexander Cornwell and Rachna Uppal ABU DHABI (Reuters) -Negotiations at the World Trade Organisation ministerial meeting in Abu Dhabi on Thursday were extended for another day, with the WTO announcing the closing session had been delayed, and no sign of a breakthrough in talks to set new global commerce rules. The biennial …

WTO talks deadline extended again with talks deadlocked Read More »