By Rajendra Jadhav and Brijesh Patel MUMBAI (Reuters) – India’s palm oil imports in November jumped nearly 23% from the previous month to hit their highest in three months as refiners preferred the tropical oil over rival soyoil and sunflower oil due to steep discounts, a leading trade body said on Friday. Higher purchases by …
Top buyer India’s Nov palm oil imports jump to 3-month high Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Friday as local dollar demand kept up the pressure despite the dollar index hovering near its weakest level in four months. The rupee was at 83.3025 as of 10:55 a.m. IST, little changed from its close of 83.33 in the previous session. …
Rupee barely changed even as dollar extends decline; forward premiums drop Read More »
NEW DELHI (Reuters) – India will buy Venezuelan oil as some refiners in the country have the capability to process heavy crude oil, Oil Minister Hardeep Singh Puri said on Friday. Indian refiners have already resumed Venezuelan oil purchases, with Reliance Industries, Indian Oil Corp and HPCL-Mittal Energy securing cargoes of Venezuelan oil after the …
BENGALURU (Reuters) – India’s Adani Ports on Friday said it will sell a 49% stake in its Ennore Container Terminal located in the southern city of Chennai to a unit of global shipping giant Mediterranean Shipping Company for about 2.47 billion rupees ($29.65 million). This is India’s largest private port operator’s second partnership with container …
India’s Adani Ports to sell Ennore terminal stake to MSC unit for $30 million Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices touched a 10-day high on Thursday as the U.S. dollar and Treasury yields slipped after the Federal Reserve signalled an end to its monetary policy tightening cycle. Spot gold rose 0.4% to $2,034.31 per ounce by 3:17 p.m. ET (2017 GMT). U.S. gold futures settled 2.4% higher …
Gold touches 10-day high as Fed hints at lower US rates next year Read More »
BENGALURU (Reuters) – Two-wheeler maker Hero MotoCorp on Thursday named Vivek Anand as its chief financial officer, replacing Niranjan Gupta. Anand, a chartered accountant, held the position of CFO at real estate developer DLF for the past four years, Hero MotoCorp said. Anand’s appointment comes months after Gupta was named as Hero MotoCorp CEO in …
India’s Hero MotoCorp names DLF’s Vivek Anand as CFO Read More »
By Hritam Mukherjee and Anisha Ajith BENGALURU (Reuters) – India’s largest real estate investment trust (REIT) Embassy Office Parks expects the government’s easing of regulation for special economic zones (SEZ) to boost its finances from the fiscal year starting April 2024. Last week, India allowed developers to strip vacant floors in SEZs off the status …
India’s Embassy REIT expects SEZ regulation tweak to boost its finances from FY25 Read More »
MUMBAI (Reuters) – India’s Adani Ports and Special Economic Zone is mulling a fundraise of up to 10 billion rupees ($120 million) from a domestic rupee bond sale, its first since 2021, two bankers aware of the discussions said on Thursday. The country’s largest private port operator is likely to tap the market before March, …
Adani Ports mulls up to 10 billion rupees debt issue by March – bankers Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes hit all-time highs on Thursday, joining a global rally after the U.S. Federal Reserve bolstered expectations of an interest rate cut in March 2024. The NSE Nifty 50 index rose 1.23% to 21,182.70, while the S&P BSE Sensex advanced 1.34% to 70,514.20. The 50-member Nifty index has …
Indian shares resume record-breaking surge on fresh Fed fuel Read More »
By M. Sriram MUMBAI (Reuters) – India’s Tata Capital is looking to purchase a roughly 13% stake in premium domestic fashion brand Rare Rabbit at a valuation of $300 million, as it seeks to bet on the country’s affluent shoppers, three sources familiar with the matter said. Tata Capital is the financial services arm of …
India’s Tata Capital eyes fashion brand Rare Rabbit at $300 million valuation -sources Read More »
