Reuters India Business

By Rama Venkat BENGALURU (Reuters) -Shares of India’s Jio Financial Services (JFS) dropped more than 5% on Tuesday, a day after the company said its third-quarter profit more than halved sequentially, while some investors booked gains following a recent rally. JFS’ shares were down 5.3% in afternoon trade on Tuesday, on track for their worst …

India’s Jio Financial Services slides on weaker earnings, profit booking Read More »

By Harshit Verma (Reuters) – Gold prices were subdued on Tuesday as the dollar and Treasury yields rose, while traders waited to hear from a slew of U.S. Federal Reserve speakers this week for more clarity on the central bank’s rate cut prospects. Spot gold was down 0.3% at $2,049.07 per ounce, as of 0617 …

Gold frail as dollar, yields strength dim shine Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee declined on Tuesday, bogged down by the dollar’s rally on the back of higher U.S. Treasury yields and tepid risk. The rupee was at 82.9750 to the U.S. dollar at 11:02 a.m. IST, down from 82.88 in the previous session. The domestic currency’s decline was smaller …

Rupee dips, but remains in favour with most interbank traders Read More »

By Rajendra Jadhav MUMBAI (Reuters) -India will extend edible oil imports at a lower duty by another year until March 2025, the government said in a notification issued late on Monday, as the world’s biggest vegetable oil importer moves to contain local prices. The lower import duty structure on crude palm oil, crude sunflower oil …

India to allow edible oil imports at lower duty until March 2025 Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were muted on Tuesday, weighed by a pullback in information technology stocks after a recent rally, and tracking Asian peers ahead of key economic data from China. The blue-chip NSE Nifty 50 shed 0.01% to 22,094.55 points, while the S&P BSE Sensex lost 0.03% to 73,310.01, as of …

Indian shares muted ahead of key earnings; IT drops after recent rally Read More »

(Reuters) – India cut its windfall tax on petroleum crude to 1,700 rupees ($20.53) a tonne from 2,300 rupees a tonne, according to a government notification on Monday. The cut will be effective from Jan. 16, the order said. On Jan. 2, the government had lifted the windfall tax on petroleum crude oil to 2,300 …

India cuts windfall tax on petroleum crude Read More »

By Shivangi Acharya and Manoj Kumar NEW DELHI (Reuters) – The cost of Indian exports has more than doubled due to the Yemeni Houthi militia’s attacks on ships in the Red Sea, industry officials said on Monday. Around 80% of India’s goods trade with Europe, estimated at nearly $14 billion a month, normally passes via …

Indian exporters face rising costs after Houthi Red Sea attacks Read More »