By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes hit fresh record highs on Tuesday for a second straight session as domestic markets continued to be encouraged by state election wins for the current ruling party, even as a global stock rally eased ahead of key U.S. data. The NSE Nifty 50 index rose 0.52% to …
Financials, energy lead record rally in India’s Nifty, Sensex Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold fell more than 2% after hitting an all-time high on Monday, but zero-yield bullion’s retreat halted above $2,000 an ounce after traders trimmed bets for the first rate cut by the U.S. Federal Reserve in early 2024. Spot gold slipped 2.1% to $2,026.69 per ounce by 2:31 p.m. …
Gold retreats from record peak on tempered outlook for Fed rate cuts Read More »
(Reuters) – Italian stationery maker FILA said on Monday its Indian unit DOMS Industries had filed an IPO prospectus with the registrar of companies of Gujarat, India, and the offer will be open from Dec. 13 until Dec. 15. Milan-listed FILA, which holds a 51% stake in the company, is selling shares worth ₹8 billion …
By Munsif Vengattil and Praveen Paramasivam BENGALURU (Reuters) -Taiwan’s Foxconn and Pegatron have halted production of Apple iPhones at their factories near Chennai in southern India because of heavy rains, four sources close to the matter said on Monday. Heavy rains lashed the city of Chennai in Tamil Nadu state, a major electronics and manufacturing …
Foxconn, Pegatron halt Indian iPhone production due to extreme weather -sources Read More »
BENGALURU (Reuters) -India’s ReNew Energy Global said on Monday it signed a pact worth more than $5.3 billion with Asian Development Bank to collaborate on projects related to tackling climate change. The memorandum of understanding, signed at the COP28 conference in Dubai, comes as demand for clean energy is booming. The companies have already identified …
India’s ReNew signs pact with Asian Development Bank for $5.3 billion Read More »
BENGALURU (Reuters) – Indian ed-tech company Byju’s founder Byju Raveendran has pledged his home and those owned by his family members to raise money for the salaries of his employees, Bloomberg News reported on Monday. The properties include two houses owned by the billionaire founder’s family and an under-construction villa in the southern Indian city …
India’s Byju’s founder pledges homes for funds to pay staff- Bloomberg News Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Financial and energy stocks led Indian shares to new all-time highs on Monday as key wins for the ruling party in state elections lifted the broader domestic market, already boosted by strong macroeconomic data and easing global interest rate expectations. The NSE Nifty 50 index rose 1.78% to 20,629.25 points, …
India’s Nifty, Sensex hit new highs on state elections boost Read More »
MUMBAI (Reuters) – India’s L&T Finance Holdings has completed the merger of three of its subsidiaries – L&T Finance, L&T Infra Credit and L&T Mutual Fund Trustee – with itself, the company said on Monday. With this, all the lending businesses will be housed under the single equity-listed operating entity of L&T Finance Holdings, the …
India’s L&T Finance Holdings completes merger with subsidiaries Read More »
BENGALURU (Reuters) – India’s ruling nationalist Bharatiya Janata Party’s win in three out of four major state elections will boost sentiment in the country’s equity markets, potentially drawing higher foreign inflows on confidence in political stability, analysts said. The results will also reduce the risk of fiscal populism ahead of national elections next year, they …
Indian state poll results boost markets, ease fiscal risk, analysts say Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee is likely to open stronger on Monday, aided by a drop in U.S. Treasury yields following comments from Federal Reserve Chair Jerome Powell and on the back of state election victories for India’s ruling party. Non-deliverable forwards indicate the rupee will open at around 83.23-83.24 to …
India rupee to rise on drop in US yields, state poll outcome Read More »
