Reuters India Business

BENGALURU (Reuters) – India’s Tata Steel reported a third-quarter profit on Wednesday, as declining expenses more than offset lower revenue due to weak domestic prices. Subdued local prices due to cheaper shipments from top producer China hurt the country’s steelmakers in the October-December period, despite sustained domestic demand. The quarter partly coincided with an eight-month …

India’s Tata Steel posts Q3 profit as lower costs counter weak revenue Read More »

By Dharamraj Dhutia MUMBAI (Reuters) – India’s banking system liquidity deficit hit a record high, data showed on Wednesday, amid outflows towards tax payments and limited government spending, with traders anticipating that the central bank will infuse more cash to address the shortfall. The deficit widened to 3.34 trillion rupees ($40.18 billion) as on Jan. …

India bank liquidity deficit hits record high Read More »

By Jayshree P Upadhyay (Reuters) -India’s markets regulator has given high risk offshore funds 7 months time to liquidate holdings if they fail to disclose data about their investors by Jan. 29, two sources said on Wednesday, allaying fears of an impending sell-off in the market. “There is no immediate deadline or cliff for offshore …

High risk offshore funds have seven months to liquidate India holdings – sources Read More »

By Manvi Pant BENGALURU (Reuters) -Indian shares reversed early losses to edge higher on Wednesday, as gains in metal stocks led by Hindalco helped offset a slump in Axis Bank following a contraction in the lender’s quarterly margins. The blue-chip NSE Nifty 50 rose 0.46% to 21,336.05 points and the S&P BSE Sensex was up …

Indian shares reverse course, tread higher as metals gain Read More »

By Anant Chandak BENGALURU (Reuters) – India’s business activity expanded at the fastest pace in four months in January on stronger demand, according to a private survey that also showed input costs rising at the quickest rate since August. The findings indicate Asia’s third-largest economy would continue to hold onto its title as the fastest …

India business growth at four-month high in January – PMI Read More »

By Milounee Purohit BENGALURU (Reuters) – India will remain the fastest-growing major economy this year and next, boosted by continued strong government spending, according to a Reuters poll of economists who also said inflation was unlikely to surge again. The world’s most populous country performed better than expected in the first two quarters of this …

India to retain top economy title as government spending stays strong – Reuters poll Read More »

BENGALURU (Reuters) – Bharti Airtel has prepaid 83.25 billion rupees ($1.00 billion) to the Indian government’s telecom department to partly clear deferred liabilities for airwaves it acquired in a 2015 auction, it said late on Tuesday. The payment had an interest rate of 10%, India’s second-biggest telecom services operator by subscribers said in an exchange …

India’s Bharti Airtel prepays $1 billion to partly clear 2015 spectrum dues Read More »