By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was down slightly on Thursday but traders expect the local unit to stay put in its narrow range supported by likely dollar sales from exporters. The rupee was at 83.3450 against the U.S. dollar as of 11:40 a.m., slightly lower than its previous close at 83.3250. …
Rupee edges lower but exporters’ dollar sales likely to limit downside Read More »
BENGALURU (Reuters) – India’s Metro Brands rose as much as 8.5% on Thursday to a record high, a day after the footwear retailer inked a deal with U.S.-based chain Foot Locker, which plans enter the Asian market in 2024. Metro Brands, which has over 700 stores across the country, will own and operate Foot Locker …
India’s Metro Brands hits record high on Foot Locker deal Read More »
MUMBAI (Reuters) – India’s DLF Ltd is mulling its first sale of bonds in three years amid a revival in the country’s real estate market, three merchant bankers said on Thursday. “The company is engaging with investors and bankers for a bond issue but it has not firmed up any plans yet,” a banker with …
India’s DLF mulls first bond issue in three years – bankers Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares fell on Thursday, dragged by energy stocks after a recent rally, ahead of second-quarter gross domestic product (GDP) data and monthly derivatives series expiry. The NSE Nifty 50 index fell 0.18% to 20,060.10 points and the S&P BSE Sensex was down 0.24% at 66,741.23, respectively, as of 10:21 …
Energy stocks drag down Indian shares ahead of GDP data Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold firmed near its highest in about seven months on Wednesday as expectations that the U.S. Federal Reserve may cut interest rates by the first half of next year boosted the outlook for the zero-yield precious metal. Spot gold was up 0.1% at $2,043.94 per ounce by 3:44 p.m. …
Gold steadies near 7-month peak on Fed rate cut bets Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India aims to add 17 gigawatts of coal-based power generation capacity in the next 16 months, its fastest pace in recent years, to avert outages due to a record rise in power demand, according to government officials and documents. The expansion drive comes ahead of this week’s …
Exclusive-India scrambles to add coal-fired power capacity, avoid outages – sources Read More »
(Reuters) -Education tech company Byju’s said on Wednesday it had received a notice from India’s federal financial crime-fighting agency and expected to pay a nominal fine over alleged violations of India’s foreign exchange laws. The Enforcement Directorate(ED) had said last week that Byju’s violated India’s Foreign Exchange Management Act (FEMA) norms by delaying the filing …
India’s Byju’s expects to pay nominal fines, if any, over foreign exchange violations Read More »
(Reuters) – Societe Generale on Wednesday downgraded Indian equities to “neutral” from “overweight” ahead of elections next year on expectations of “moderating” economic growth and improving risks for broader emerging market stocks. India’s benchmark, Nifty 50 index, is up 11% so far this year, compared with roughly 3% year-to-date growth for the MSCI Emerging Markets …
SocGen cuts Indian stocks to ‘neutral’ as elections loom Read More »
(Reuters) – Global money managers and banks ranging from Vanguard to Goldman Sachs as well as the Singapore government rushed to grab a slice of Zomato after Chinese payments group Alipay offloaded its entire 3.44% stake in the Indian food delivery platform. Earlier on Wednesday, Alipay launched a $400 million stake sale in Zomato through …
Global firms rush to buy Alipay’s stake in India’s Zomato Read More »
By Neha Arora (Reuters) – India on Wednesday launched the first part of its critical minerals auction worth an estimated 450 billion rupees ($5.40 billion), the country’s mines minister said. Mines minister Pralhad Joshi said the auctions would be held in eight states, including Bihar, Chhattisgarh, Odisha, Tamil Nadu, Jammu & Kashmir and would include …
India launches first part of critical minerals auction worth $5.4 billion Read More »
