By Manoj Kumar NEW DELHI (Reuters) -If India needed any more proof that it was in the midst of a huge housing boom, it got in this week’s GDP data, heightening expectations that the industry will continue to power the economy for years to come. The construction sector grew 13.3% in July-September from a year …
India’s construction sector levels up as housing demand spurs economy Read More »
By Nidhi Verma, Marianna Parraga and Florence Tan NEW DELHI/HOUSTON/SINGAPORE (Reuters) -Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said. Trade resumed …
India resumes imports of Venezuelan oil, Reliance seeks direct deal Read More »
By Ashitha Shivaprasad and Deep Kaushik Vakil (Reuters) – Gold surged to a seven-month peak on Friday after remarks from Federal Reserve Chair Jerome Powell increased traders’ confidence the U.S. central bank had completed its monetary policy tightening and could cut rates early next year. Spot gold climbed 1.2% to $2,060.69 per ounce by 12:35 …
Gold rallies as Fed Chair Powell’s comments cement peak-rate bets Read More »
By Dhwani Pandya and Bhakti Tambe MUMBAI (Reuters) -India’s Adani Group plans to spend 7 trillion rupees ($84.00 billion) over the next decade on infrastructure projects, Chief Financial Officer Jugeshinder Singh said on Friday. “Our capex will go up to run and develop infrastructure,” Singh said, without elaborating on the type of projects the company …
India’s Adani Group plans $84 billion infra spend over next decade Read More »
By Nandan Mandayam and Meenakshi Maidas BENGALURU (Reuters) -Indian two-wheeler makers outshone their four-wheeler counterparts in November, driven by a festive season-led pick up in rural demand, monthly sales data from auto manufacturers showed on Friday. The numbers prompted optimism among industry watchers about two-wheeler demand for the rest of the financial year. “We are …
India’s two-wheeler sales surge in Nov on festive boost Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee rose on Friday, boosted by inflows and data that prompted economists to raise their growth forecasts for Asia’s third-largest economy. The rupee was at 83.3275 to the U.S. dollar at 10:54 a.m. IST, up from 83.3950 in the previous session. The local currency hit an intraday …
India rupee propped up by inflows, held back by importers Read More »
BENGALURU (Reuters) -Indian specialty chemicals maker Aether Industries said on Friday that it was ordered by the pollution control board of Gujarat on Nov. 30 to stop production at its blast-affected site in Surat until further instructions. A storage tank blast killed seven people and injured 24 at one of the company’s plants in the …
India’s Aether Industries ordered to shut blast affected site by pollution regulator Read More »
BENGALURU (Reuters) – The independent directors of Indian textile company Raymond said on Friday they will take measures, if needed, to protect business and stakeholder interests from marital disputes between Managing Director Gautam Singhania and his wife and board member Nawaz Modi Singhania. This comes after Institutional Investor Advisory Services (IIAS), an Indian proxy advisory …
Raymond’s independent directors vouch to protect investors against MD’s marital disputes Read More »
MUMBAI (Reuters) -The Indian economy is projected to grow at a 6.7% -7% rate in the fiscal year ending March 31, 2024, several economists said, upping their projections after the country blew past growth estimates for the July-September quarter. The country’s economy expanded 7.6% in the July-September quarter, trouncing estimates of a 6.8% rise, data …
Indian economy to exceed growth estimates after strong Q2 beat : economists Read More »
By Ira Dugal MUMBAI (Reuters) – Large shareholders in Indian firms have sold 1.03 trillion rupees ($12.36 billion) in shares so far this year, double that of in 2022, as an ongoing rally in the domestic equity markets help them offload shares at the fastest pace on record. These shareholders, called “promoters” by the country’s …
Large shareholders cash in as India’s equity market rallies Read More »
