By Nimesh Vora MUMBAI (Reuters) – The Indian rupee and forward premiums barely budged on Tuesday ahead of data that is expected to show continued disinflation in the United States and shape expectations on when the Federal Reserve will cut rates. The rupee was quoted at 83.0125 to the U.S. dollar at 11:02 a.m. IST, …
Importers more active heading into key US data; rupee, forwards rangebound Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices slipped on Monday ahead of U.S. inflation data and comments from Federal Reserve officials that could offer insight into the central bank’s interest rate plans. Spot gold was down 0.2% to $2,020.97 per ounce at 01:47 p.m. ET (1847 GMT). U.S. gold futures settled 0.3% lower to …
Gold drops as traders eye US CPI data for Fed clues Read More »
By Jayshree P Upadhyay and M. Sriram (Reuters) – India’s market regulator is increasing scrutiny of issue documents filed by companies going public, four sources said on Monday, amid a rise in initial public offerings in the Indian market. The country’s surging stock market has prompted nearly 50 companies to launch public issues in 2023; …
India markets regulator ups scrutiny of IPO documents, sources say Read More »
BENGALURU (Reuters) – Coal India reported a higher-than-expected third-quarter profit on Monday as the state-run miner cranked up production to meet surging demand for electricity in the country as well as declared a second interim dividend. Despite strong pledges to harness renewable energy sources like solar and wind, coal is still used to produce nearly …
Coal India beats third-quarter profit estimates on higher production Read More »
BENGALURU (Reuters) – Steel Authority of India (SAIL) reported a lower third-quarter profit on Monday, as higher imports led to a drop in both volume sales and prices. The company’s consolidated net profit fell 22% year-on-year to 4.23 billion rupees ($51 million) in the three months to Dec. 31. India’s steel imports rose to a …
Steel Authority of India’s Q3 profit drops as imports dent sales, prices Read More »
By Aftab Ahmed and Manoj Kumar NEW DELHI (Reuters) -India’s retail inflation rate touched a three-month low of 5.10% in January as prices of some food items rose more slowly, data showed on Monday, although the central bank is expected to wait before cutting rates as inflation remains above its target rate. Annual retail inflation …
India retail inflation eases to 3-month low but no rate cuts expected yet Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined on Monday, weighed down by broad-based profit booking, while small- and mid-caps extended their slide on rising concerns over high valuations. The NSE Nifty 50 index was down 0.76% at 21,616.05, while the S&P BSE Sensex settled 0.73% lower at 71,072.49. “This is another bout of profit booking …
Indian shares drop on profit booking; small-, mid-caps add to pain Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended little changed on Monday as an uptick in the dollar index eroded the local currency’s early gains which were aided by mild dollar sales from foreign and local private banks, traders said. The rupee ended at 83.0025 against the U.S. dollar, barely changed from 83.0350 …
Rupee ends little changed as dollar’s uptick erodes early gains Read More »
BENGALURU (Reuters) – Indian low-cost carrier SpiceJet said on Monday that it has started adopting measures to reduce its workforce, aiming to save 1 billion rupees ($12 million) annually. Local business daily Economic Times reported earlier in the day that the cash-strapped airline would lay off 1,400 staff or around 15% of its 9,000-strong workforce. …
India’s SpiceJet to cut jobs, save $12 million annually Read More »
BENGALURU (Reuters) – Indian financial technology company Paytm on Monday confirmed media reports of an independent director at its banking arm having resigned. Manju Agarwal resigned from the board of Paytm Payments Bank on Feb. 1 due to personal commitments, the company said in an exchange filing. The payments firm on Friday said it would …
India’s Paytm confirms resignation of director at banking arm Read More »
