By Una Galani and Peter Thal Larsen DAVOS, Switzerland, Jan 18 (Reuters) – India hasn’t made up its mind on cutting import taxes on electric vehicles (EVs) under a new policy proposed for carmakers that commit to local manufacturing and that could ease Tesla’s entry into the market, a top government official said. India’s domestic …
By VarunVyas Hebbalalu and Navamya Ganesh Acharya BENGALURU (Reuters) – India’s ONGC Videsh, the overseas investment unit of the country’s top explorer, Oil and Natural Gas Corp, has received a five-year $420 million loan from DBS Bank and Bank of Baroda, a company spokesperson said on Thursday. The loan will strengthen ONGC Videsh’s available cash …
India’s ONGC arm gets $420 million loan from DBS Bank, Bank of Baroda Read More »
BENGALURU (Reuters) -LTIMindtree’s shares slumped 10.5% on Thursday, set for their worst day in four years, after the Indian IT services provider became the first of its peers to miss third-quarter revenue estimates and its forecast did little to calm nerves. For nearly a year, IT companies have been grappling with clients curtailing, delaying or …
India’s LTIMindtree punished for “overpromising and underdelivering” Read More »
BENGALURU (Reuters) -Shares of India’s ICICI Prudential Life Insurance fell 10% on Thursday after weak demand led to a sharp contraction in new business margins. Shares of the company fell to an eight-month low, marking the biggest slide since Feb. 1, when India announced a plan to tax the total returns of policies with returns …
India’s ICICI Prudential slumps as new business margins slide Read More »
BENGALURU/TAIPEI (Reuters) – Taiwan’s Foxconn will partner with tech firm HCL Group for a semiconductor assembly and testing facility in India, the companies said on Thursday. The firms will set up an outsourced assembly and testing (OSAT) unit in the south Asian nation. An OSAT plant packages, assembles and tests foundry-made silicon wafers, turning them …
Foxconn to partner with India’s HCL Group for chip testing plant Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares fell on Thursday, dragged by financial services as HDFC Bank extended decline and weaker information technology stocks. The blue-chip NSE Nifty 50 shed 0.92% to 21,373 points, while the S&P BSE Sensex lost 0.78% to 70,939.90, as of 10:10 a.m. IST. Both indexes have fallen about 3.5% from …
Financials, IT drag Indian shares off record highs Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices fell to a more than one-month low on Wednesday as strong economic data strengthened dollar and Treasury yields and lowered market expectations of a U.S. rate cut in March. Spot gold was down 1.2% at $2,003.89 per ounce as of 01:55 p.m. ET (1855 GMT), lowest since …
Gold retreats to over one-month low after data dims rate-cut hopes Read More »
(Reuters) – The Indian government will sell up to 3.5% stake in state-run NHPC through an offer for sale, the company said in an exchange filing on Wednesday. The proposed stake sale will see the government divest 2.5% of the renewable energy major’s stock with an option to sell an additional 1%. The floor price …
By Una Galani and Peter Thal Larsen DAVOS, Switzerland, Jan 17 (Reuters) – Monetary policy in India must remain actively disinflationary despite the recent sharp fall in core inflation, Reserve Bank of India Governor Shaktikanta Das said at the World Economic Forum in Davos. “When inflation is still above 5.5%, rather close to 6%, our …
India monetary policy has to remain actively disinflationary, says RBI chief Read More »
By una galani and Peter Thal Larsen MUMBAI (Reuters) – The Reserve Bank of India would like to see inflation come down to 4% on a durable basis before it is ready to pivot on monetary policy, Governor Shaktikanta Das said in an interview with Reuters at the World Economic Forum in Davos. Following are …
India cenbank governor’s comments at World Economic Forum in Davos Read More »
