NEW DELHI (Reuters) – India’s stock exchanges have cut the daily share trading limits for digital payments firm Paytm to 10%, from 20%, after a $2 billion rout in the stock following a regulatory crackdown on the company’s banking unit. The new 10% limits will be applicable from Monday, the Bombay Stock Exchange and the …
Indian bourses cut Paytm daily trading limits to 10% after rout Read More »
By Siddhi Nayak MUMBAI (Reuters) -State Bank of India (SBI), the country’s largest lender, on Saturday reported an unexpectedly steep 35% drop in net profit for the October-December quarter, weighed down by higher pension costs and wage revisions. Net profit fell to 91.64 billion rupees ($1.1 billion) in its fiscal third quarter from 142.05 billion …
State Bank of India misses forecast as Q3 net profit drops 35% Read More »
By Nikunj Ohri and Sarita Chaganti Singh NEW DELHI (Reuters) – Indian expects to collect up to 140 billion rupees ($1.7 billion) in goods and services tax (GST) next financial year by taxing online gambling companies, Revenue Secretary Sanjay Malhotra told Reuters on Saturday. The government in October imposed a 28% tax on funds that …
India aims to collect $1.7 billion from online gambling tax in FY25 Read More »
By Nikunj Ohri and Sarita Chaganti Singh NEW DELHI (Reuters) – India’s financial crime fighting agency will probe Paytm Payments Bank if any fresh charges of fund siphoning are found, Revenue Secretary Sanjay Malhotra told Reuters on Saturday. The Reserve Bank of India (RBI) on Wednesday ordered thepayments bank unit of One 97 Communications, popularlyknown …
NEW DELHI (Reuters) – India raised its windfall tax on petroleum crude to 3,200 rupees/ton from 1,700 rupees from Saturday while keeping the windfall tax on diesel and aviation turbine fuel at zero, the government said late on Friday. On Jan. 16, the government cut windfall tax on petroleum crude from 2,300 rupees a ton. …
India raises windfall tax on petroleum crude to 3,200 rupees/tonne Read More »
By Anushree Ashish Mukherjee and Ashitha Shivaprasad (Reuters) – Gold prices slipped on Friday as the dollar and yields jumped after a strong U.S. nonfarm payrolls report which created some uncertainty about whether the Federal Reserve might start cutting interest rates soon. Spot gold was down 0.8% at $2,038.59 per ounce at 01:45 p.m. ET …
Gold drops as dollar, yields rise on stronger US jobs data Read More »
By VarunVyas Hebbalalu BENGALURU (Reuters) -India needs to make clear which clean-car technology it intends to support to meet its zero-emission goals, a top official at the country’s most valuable carmaker, Tata Motors’, said on Friday. “The government, as part of its commitment towards zero-emission economy, needs to be very clear in terms of where …
India’s Tata Motors says govt support needed for shift to EVs Read More »
By Chris Thomas, Siddhi Nayak and Ira Dugal BENGALURU (Reuters) -Paytm Payments Bank’s digital wallet business may not be able to operate after Feb. 29 unless India’s central bank approves a transfer of its licence to parent group One 97 Communications, two sources directly familiar with the matter said. The Reserve Bank of India (RBI) …
India’s Paytm faces licence uncertainty as RBI order wipes $2 billion off shares Read More »
By Nikunj Ohri NEW DELHI (Reuters) – India’s government expects to raise between 180 billion and 200 billion rupees ($2.2 billion to $2.4 billion) through the sale of stakes in state-run firms in the fiscal year ending March 31, a top government official told Reuters on Friday. Prime Minister Narendra Modi’s administration moved from the …
India aims to raise up to $2.4 billion selling stakes in state-run firms -official Read More »
BENGALURU (Reuters) – India’s Dalmia Bharat Sugar and Industries reported a flat third-quarter profit on Friday as weak sales of its mainstay – refined sugar – offset strong demand in the distillery business. Consolidated net profit came in at 649.2 million rupees ($7.83 million) for the quarter ended Dec. 31, compared with 649.1 million rupees …
India’s Dalmia Bharat Sugar posts flat Q3 profit due to weak sales Read More »
