Reuters India Business

By Siddhi Nayak MUMBAI (Reuters) – Indian private banks expect growth in loans to sustain in the “high teens” over the next fiscal year despite a struggle to raise deposits and tougher capital requirements imposed by the central bank. In November, the Reserve Bank of India (RBI) raised the capital requirements for personal loans, credit …

India’s private banks hold on to loan growth target despite growing headwinds Read More »

By Manoj Kumar, Shivangi Acharya and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) – India’s commerce ministry has backed a long-standing demand from the jewellery industry to reduce import tariffs on gold bars, government and industry officials said, amid concern the duties were further harming the country’s faltering jewellery exports. The commerce ministry’s support for lowering the …

India commerce ministry backs import tax cuts on gold bars -officials Read More »

By Ira Dugal MUMBAI (Reuters) – HDFC Bank, India’s largest private sector lender, will take 4-5 years to fully digest its merger with its parent last July but expects to restore a key financial metric to pre-merger levels at the end of that period, two sources familiar with the bank’s thinking said. The lender’s quarterly …

India’s HDFC Bank sees period of consolidation as it absorbs mega merger – sources Read More »

Shares of India’s Tech Mahindra fell as much as 6.3% to post their worst day in more than three years on Thursday after the company’s third-quarter profit missed estimates. The country’s fifth-largest IT services company on Wednesday reported a 60.6% slump in profit to 5.10 billion rupees ($61.4 million) for the three months ended Dec. …

India’s Tech Mahindra sees worst day in over three years on Q3 profit miss Read More »

By Dharamraj Dhutia, Nikunj Ohri and Jayshree P Upadhyay MUMBAI (Reuters) – Indian lenders have suggested that investments in perpetual bonds issued by banks should be valued according to the call option instead of treating them as 100-year securities, according to four sources directly aware of the matter. The rules hurt demand for such paper …

Indian banks urge return to call option valuation for perpetual bonds – sources Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined on Thursday, dragged by information technology stocks (IT) following disappointing results from Tech Mahindra and as financial stocks continued to drop. The blue-chip NSE Nifty 50 index fell 0.75% to 21,293.45 points and the S&P BSE Sensex was down 0.81% at 70,482.89, as of 11:55 a.m. IST. …

Indian shares fall as IT stocks join the slide in financials Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was barely changed on Thursday, tracking rangebound moves in most of its Asian peers as focus turns to key U.S. economic data which could impact expectations of potential easing in policy rates by the Federal Reserve. The rupee was at 83.1125 against the U.S. dollar as …

Rupee little changed tracking mostly subdued Asian peers Read More »

By Chris Thomas and Kashish Tandon BENGALURU (Reuters) – Zee Entertainment on Wednesday called on Sony to honour its obligations to close a $10 billion merger deal between the companies and asked an Indian tribunal to order Sony to complete the combination that the Japanese firm terminated. Sony terminated merger plans with Zee on Monday …

India’s Zee asks Sony to honour merger obligations, approaches tribunal Read More »