NEW DELHI (Reuters) – The newly elected Indian government will present its first union budget in the lower house of parliament on July 23, Kiren Rijiju, minister of parliamentary affairs said in a post on social media platform X on Saturday. The budget presented will be for the fiscal year 2024-2025, he said. (Reporting by …
Indian government to present union budget in parliament on July 23 Read More »
By Rishika Sadam and Kashish Tandon HYDERABAD (Reuters) – India’s pharmaceutical companies are hoping for tax incentives and financial assistance for research on innovative drugs as Prime Minister Narendra Modi’s government readies a federal finance budget likely to be presented in July. The upcoming budget would be Modi’s first major policy announcement in his third …
Indian drugmakers seek govt tax reliefs, incentives to spur innovation Read More »
By Dhwani Pandya MUMBAI (Reuters) – The head of U.S.-based industrial real estate developer Panattoni has urged India to streamline its land acquisition processes which he said make it difficult for developers to cash in on a warehousing boom in the country. Foreign and domestic real estate developers are building more warehouses in India to …
By Chris Mfula LUSAKA (Reuters) -Vedanta Resources Ltd said on Friday it has arranged the financing it needs to start paying creditors of its Konkola Copper Mines in Zambia as it takes steps to revive operations after regaining control of the assets. The miner owned by Indian billionaire Anil Agarwal will have around the $250 …
Vedanta says it has arranged $250 million to settle Zambian copper mine debts Read More »
By Brijesh Patel (Reuters) – Gold prices extended gains on Friday to their highest level in a month following key U.S. jobs data that showed the labor market was softening, lifting expectations around a Federal Reserve interest rate cut in September. Spot gold was up 1.1% at $2,380.91 per ounce as of 11:08 a.m. (1508 …
Gold prices rise to one-month high after US jobs report Read More »
BENGALURU (Reuters) -Indian consumer goods companies Marico, Dabur and Adani Wilmar reported a pick up in first-quarter revenue growth as demand improved gradually, with consumers spending more on personal care and cooking products. WHY IT’S IMPORTANT Volume trends from key consumer goods companies, which sell everything from hair and cooking oils to oats, are seen …
Indian consumer goods makers say Q1 sales growth picks up as demand improves Read More »
BENGALURU (Reuters) -Retail sales of cars in India fell 6.8% in June, marking their worst decline in almost two and half years, a dealers’ body said on Friday, as heatwaves across the country kept customers from visiting showrooms. Passenger vehicle sales in June dropped to 281,566 units, their lowest since September 2022, according to data …
India’s June retail car sales drop most in over 2 years, says dealers’ body Read More »
BENGALURU/MUMBAI (Reuters) -Shares of India’s top private lender HDFC Bank fell over 4% on Friday and were the top losers on the Nifty 50 index, a day after the bank reported a sequential decline in loans disbursed and a flat deposit growth in the first quarter. The Mumbai-based lender merged with HDFC last July, adding …
India’s HDFC Bank extends fall on disappointing Q1 loan book, deposit growth Read More »
By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares eased on Friday from record highs hit earlier this week, dragged by top private lender HDFC Bank after it reported a sequential decline in loans in the June quarter. The NSE Nifty 50 was down 0.23% at 24,246.05 points, while the S&P BSE Sensex shed …
HDFC Bank drags Indian shares as rally to record highs takes pause Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was slightly stronger on Friday as most of its Asian peers rose heading into a closely watched U.S. jobs report later in the day, which is expected to influence expectations of when the Federal Reserve will start easing rates. The rupee was at 83.4625 against the …
Rupee inches higher tracking gains in most Asian peers Read More »
