Reuters India Business Archives - Page 731 of 1191

Foreign flows into Indian bonds hit 6-year high ahead of index inclusion

1 Dec 2023 1 Dec 2023

By Dharamraj Dhutia MUMBAI (Reuters) – Foreign inflows into Indian government bonds hit the highest level in six years in November ahead of the securities being included in JPMorgan’s emerging market index next year, with investors and treasury officials expecting buying to continue. Foreign portfolio investors bought a net 127.2 billion rupees ($1.53 billion) of …

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India factory growth accelerated in November, input costs at 40-month low -PMI

1 Dec 2023 1 Dec 2023

By Anant Chandak BENGALURU (Reuters) – India’s manufacturing growth accelerated last month after a recent blip, supported by robust demand, according to a private survey that also showed input costs rose at the slowest pace in 40 months. The findings were positive for Asia’s third-largest economy, which grew a surprisingly strong 7.6% last quarter, slightly …

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Indian economy grew faster than expected on manufacturing, govt spending

30 Nov 2023 30 Nov 2023

By Shivangi Acharya and Manoj Kumar NEW DELHI (Reuters) -India’s economy grew at a much faster pace than expected in the July-September quarter, helped by government spending and manufacturing, raising expectations that Asia’s third-largest economy will outperform its own estimates for the full year. The Indian economy expanded 7.6% in the September quarter, faster than …

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India’s CSB Bank promoter gets RBI nod to retain 26% stake in lender

30 Nov 2023 30 Nov 2023

BENGALURU (Reuters) – The promoter of India’s CSB Bank has received approval from the Reserve Bank of India to retain a 26% stake in the lender, instead of 15% as advised by the central bank earlier, CSB said on Thursday. FIH Mauritius Investments Ltd (FIHM), which currently holds a 49.72% stake in the Thrissur, Kerala-based …

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Gold heads for second straight monthly rise on Fed pause bets

30 Nov 2023 30 Nov 2023

By Anushree Ashish Mukherjee (Reuters) – Gold slipped on Thursday but stayed on track for a second straight monthly gain as expectations that the Federal Reserve may soon cut interest rates enhanced the appeal of non-yielding bullion. Spot gold slipped 0.4% to $2,035.53 per ounce by 10:24 a.m. ET (1524 GMT) after hitting a near …

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India’s UltraTech to buy Kesoram’s cement business for $645 million

30 Nov 2023 30 Nov 2023

By Hritam Mukherjee BENGALURU (Reuters) – India’s UltraTech Cement said on Thursday it will buy the cement business of Kesoram Industries in an all-stock deal valued at 53.79 billion rupees ($645.41 million), in a move to add heft to its hold in the southern part of the country. As a part of the deal, UltraTech …

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Emerging world needs climate finance and to burn coal, India says

30 Nov 2023 30 Nov 2023

NEW DELHI (Reuters) – Emerging economies need climate finance, help with technology and the right to pursue development, India’s Prime Minister Narendra Modi said on Thursday before leaving for the UN climate summit in Dubai. The COP28 summit opened in Dubai on Thursday for two weeks of talks. Nations are divided over whether to prioritise …

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India’s Tata Technologies valued at $6.4 billion after smashing debut

30 Nov 2023 30 Nov 2023

By Rama Venkat BENGALURU (Reuters) – Shares of India’s Tata Technologies settled nearly three-fold higher on their trading debut on Thursday, valuing the first Tata Group company to go public in nearly two decades at 532.64 billion rupees ($6.4 billion). The Tata Motors’ unit, which provides engineering and technology services to auto, aero and heavy …

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Analysts suggest hedging India equity portfolio before state poll results

30 Nov 2023 30 Nov 2023

By Nimesh Vora MUMBAI (Reuters) – India’s equity markets may see increased volatility after the results of crucial state elections this weekend, prompting analysts to recommend investors hedge their portfolios using options. Results for elections to five state assemblies will be declared on Sunday. Exit polls conducted by private agencies are due after polling on …

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France’s SMCP strikes deal with Reliance to expand into India

30 Nov 2023 30 Nov 2023

PARIS (Reuters) – Fashion group SMCP, owner of French fashion labels Sandro and Maje, said on Thursday it signed a deal with Reliance to expand into India and will join other high-end European brands opening stores in the Jio World Plaza mall in Mumbai. “There aren’t a lot of accessible luxury fashion labels in India …

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