Reuters India Business Archives - Page 739 of 1191

India’s financial crime-fighting agency issues notice to Byju’s

21 Nov 2023 21 Nov 2023

BENGALURU (Reuters) -India’s federal financial crime-fighting agency has issued a show-cause notice to education tech company Byju’s for alleged violations of foreign exchange rules, the agency said in a statement on Tuesday. The agency alleged violations by the company worth over 93 billion Indian rupees ($1.12 billion) under the Foreign Exchange Management Act (FEMA), and …

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Exclusive-India’s Jindal Power will not bid to take over airline Go First -sources

21 Nov 2023 21 Nov 2023

By Siddhi Nayak and Sarita Chaganti Singh MUMBAI (Reuters) – India’s Jindal Power Ltd, the only company whose expression of interest to take over Go First was accepted by creditors, has decided to not follow through with a bid, three people familiar with the plans said, pushing the insolvent airline closer to liquidation. The deadline …

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Rebound in financials, IT rally lift Indian shares

21 Nov 2023 21 Nov 2023

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Tuesday, led by a rebound in financials after a two-session lull, while information technology (IT) stocks extended gains amid a global stock rally on expectations that U.S. interest rates have peaked. The NSE Nifty 50 index rose 0.37% to 19,766.50 points and the S&P BSE Sensex …

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Rupee to see mild respite on yuan-lead rally on Asia Fx

21 Nov 2023 21 Nov 2023

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to inch higher at open on Tuesday, lifted by a broad rally in Asian peers which pushed the Chinese yuan to its highest in nearly four months. Non-deliverable forwards indicate rupee will open at around 83.30 to the U.S. dollar compared with 83.34 in …

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Gold loses footing as focus turns to Fed minutes

20 Nov 2023 20 Nov 2023

By Anjana Anil (Reuters) – Gold prices declined on Monday weighed down by an uptick in U.S. Treasury yields, with investors awaiting minutes of the Federal Reserve’s last meeting for cues on the central bank’s interest rate path. Spot gold was down 0.4% to $1,972.60 per ounce as of 1550 GMT (1050 ET), after rising …

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Indian shares end lower as autos, financials drag

20 Nov 2023 20 Nov 2023

By Sethuraman N R BENGALURU (Reuters) – Indian shares closed lower on Monday, weighed by losses in auto stocks after a rally last week, along with selling in financial stocks. The NSE Nifty 50 index and the S&P BSE Sensex edged down 0.2% each at 19,694 and 65,655, respectively. The Nifty has gained over 3% …

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India’s tougher personal loan rules may force some NBFCs to tap bond market

20 Nov 2023 20 Nov 2023

By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – Indian non-banking finance companies (NBFCs), including Bajaj Finance, L&T Finance and SBI Cards and Payment Services, are likely to tap the bond market to raise funds following the central bank’s tighter rules for personal loans, six banking sources told Reuters. The rules, which raise the capital …

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Indian pvt banks make largest single-day govt bond purchase in 7 years

20 Nov 2023 20 Nov 2023

By Dharamraj Dhutia MUMBAI (Reuters) – Indian private sector banks made the largest single-session purchase of government bonds in seven years on Friday, including a big investment on behalf of a corporate, traders said. These banks bought bonds worth a net of 83.43 billion rupees ($1 billion), the biggest such purchase since Nov. 15, 2016, …

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Rupee flat even as dollar slumps to over 2-month low

20 Nov 2023 20 Nov 2023

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Monday as sustained dollar demand from importers kept the local unit sticky even as the dollar index slumped to its lowest level in over 2 months. The rupee was at 83.2675 against the U.S. dollar as of 10:40 a.m. IST. It closed …

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India grants incentives for Dell, HP, Foxconn to make IT hardware locally

18 Nov 2023 18 Nov 2023

MUMBAI (Reuters) -The Indian government has approved investments by 27 companies including Dell, HP and Foxconn under its $2 billion incentive scheme to manufacture IT hardware domestically. Information technology minister Ashwini Vaishnaw said the companies are expected to invest 30 billion Indian rupees ($360 million) collectively, while creating 50,000 jobs in the sector. Approvals have …

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