Reuters India Business

BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance reported a decline in new business margins on Wednesday, as demand dipped for high-value policies following taxation changes and sales of low-margin products increased. The value for new business (VNB) – the expected profit from new policies – fell 15% to 14.51 billion Indian rupees ($174.49 million) …

India’s ICICI Prudential logs lower new business margin in April-Dec Read More »

By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) – Wipro is feeling a “bit more” optimistic about its next financial year as clients spend more on artificial intelligence (AI) to reduce operating costs, the head of the Indian IT firm’s Americas 2 business told Reuters on Wednesday. “Most client conversations are about cost-saving efforts …

Wipro a ‘bit more’ optimistic about next fiscal year due to AI Read More »

By Una Galani and Peter Thal Larsen DAVOS, Switzerland, Jan 17 (Reuters) – India is eyeing $100 billion in annual foreign direct investment (FDI) “in the next few years”, its IT minister said on Wednesday, as Prime Minister Narendra Modi seeks to attract investors ahead of a reelection bid. “We see 6-8% consistent growth rate …

India eyes $100 billion annual foreign direct investment in coming years – IT minister Read More »

By Una Galani DAVOS, Switzerland, Jan 17 (Reuters) – Supply cuts by OPEC+, costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world’s third biggest oil importer, to diversify its crude sources and accelerate its energy transition, its Oil Minister Hardeep Singh Puri said. “Whenever there is vulnerability and …

India to keep diversifying oil supply, accelerate energy transition -Oil Minister Read More »

By Sarita Chaganti Singh and Mayank Bhardwaj NEW DELHI (Reuters) – India may earmark about 4 trillion rupees ($48 billion) for food and fertiliser subsidies for the next fiscal year, two government sources said, indicating fiscal caution ahead of this year’s general election. Food and fertiliser subsidies account for about one-ninth of India’s total budget …

India may earmark $48 billion for next year’s food, fertiliser subsidies Read More »

By Aditi Shah and Dhwani Pandya NEW DELHI (Reuters) – Indian airlines and plane makers Boeing and Airbus will reveal new orders this week and showcase large jets as they look to cash in on a boom in a fast-growing aviation market with a greater focus on international routes. As India sets its sights on …

Airlines, planemakers set to unveil new orders at Indian aviation event Read More »

BENGALURU (Reuters) -Shares of India’s HDFC Bank fell more than 6% on Wednesday, on track for their worst day since May 2020, after the country’s biggest private lender reported weak margins for a second consecutive quarter. While HDFC Bank’s standalone net profit for the third fiscal quarter beat analyst estimates, its core net interest margin …

India’s HDFC Bank set for worst day in nearly 4 years on margin concerns Read More »

BENGALURU (Reuters) – Maruti Suzuki India, the country’s top car maker, on Tuesday hiked prices of its models by 0.45%, far lower than its hike in January last year, signalling a slowdown in the demand for its cars. Maruti and its peers had said towards the end of 2023 that they planned to hike prices …

India’s Maruti Suzuki hikes prices across models Read More »