By Nikunj Ohri and Ira Dugal MUMBAI (Reuters) – The Indian government will likely complete the sale of its majority stake in IDBI Bank only after the country’s general elections in mid-2024, said three sources aware of the matter, stretching out a process that began in October 2022. The Reserve Bank of India, also the …
India’s IDBI Bank share sale unlikely before 2024 federal elections -sources Read More »
MUMBAI (Reuters) -India’s central bank Governor Shaktikanta Das on Wednesday cautioned the country’s lenders against “all forms of exuberance” days after tightening rules for consumer loans. While credit growth is accelerating, banks and non bank finance companies (NBFCs) need to ensure lending to individual categories is “sustainable”, Das said at an event in Mumbai. “All …
India cenbank chief Das asks banks to avoid “all forms of exuberance” Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose on Wednesday aided by IPO-related inflows and strength in the Chinese yuan. The rupee was at 83.3025 against the U.S. dollar as of 11:20 a.m. IST, higher by 0.1% compared with 83.3550 close in the previous session, its lowest closing level on record. IPOs worth …
By Bharath Rajeswaran BENGALURU (Reuters) -Indian blue-chip indexes recovered from a flat open on Wednesday aided by pharma and energy stocks, while the global stock rally showed signs of fizzling out. The NSE Nifty 50 index rose 0.17% to 19,817.70 points and the S&P BSE Sensex was up 0.15% at 66,032.53, respectively, as of 10:11 …
Pharma, energy stocks power Indian shares as global rally fades Read More »
By Anjana Anil (Reuters) – Gold hurdled over the $2,000 mark on Tuesday, buoyed by expectations that the Federal Reserve had reached an interest rate peak after minutes from the U.S. central bank’s latest meeting anchored a cautious approach to more hikes. Spot gold gained 1.2% to $1,999.92 per ounce by 2:30 p.m. ET (1930 …
Gold marches ahead to the beat of a weaker US dollar Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India on Tuesday asked private firms to ramp up investments in new coal-fired power plants to meet a dramatic rise in electricity demand and bridge nearly 30-gigawatts of additional requirement by 2030, despite international pressure to stop building such facilities. India’s power and renewable energy minister R …
India wants private money for coal-fired plants despite Western opposition Read More »
(Reuters) – The Indian government has cancelled the bidding process to hire an asset valuer for its planned IDBI Bank share sale, according to a statement. The government will invite fresh bids to select a valuer for its stake in the lender, said a statement from the Department of Investment and Public Asset Management on …
India cancels bid process to hire valuer for IDBI Bank sale Read More »
NEW DELHI (Reuters) – A decline in international crude oil prices will help control India’s inflationary pressures going forward, the country’s finance ministry said in a report on Tuesday. India’s retail inflation eased in October to a four-month low of 4.87%, edging closer to the central bank’s target of 4%. India’s crude oil basket has …
India says falling oil prices should ease inflation pressure Read More »
BENGALURU (Reuters) -India’s Tata Consultancy Services (TCS) on Tuesday said it would make a $125 million provision in its third-quarter results in relation to a trade secret lawsuit filed by U.S.-based Epic Systems. Epic had filed the lawsuit against TCS in 2014, alleging the information technology (IT) services provider stole its intellectual property while it …
India’s TCS to take $125 million hit to Q3 earnings over US lawsuit Read More »
BENGALURU (Reuters) -Japan’s Toyota Motor on Tuesday said it will invest nearly $400 million to set up a third manufacturing facility in India as it looks to meet surging demand for its vehicles. The new plant, which will create 2,000 new jobs and produce over 100,000 units annually, would take Toyota’s overall capacity to 410,000 …
Toyota to invest nearly $400 million for third plant in India Read More »
