(Corrects stake sale value in paragraph 7 to 9% from 9.9%) BENGALURU (Reuters) – India’s Tata Technologies’ initial public offering will open for subscription on Nov. 22, its parent Tata Motors said late Monday, in what will be the first Tata Group IPO in nearly two decades. Tata Technologies, which provides engineering and product development …
India’s Tata Technologies’ IPO to open on Nov. 22 Read More »
BENGALURU (Reuters) -U.S. electric car maker Tesla Inc is planning to double the number of components it imports from India, Indian trade minister Piyush Goyal said on Tuesday through a post on social media platform X. “Proud to see the growing importance of Auto component suppliers from India in the Tesla EV supply chain. It is on …
Tesla to double its components imports from India – Trade Minister Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices ticked higher as the dollar eased on Monday, while investors looked toward key U.S. inflation data due this week that could throw some light on the Federal Reserve’s interest rate stance. Spot gold was up 0.4% at $1,945.25 per ounce by 3:30 p.m. ET (2030 GMT). U.S. gold …
Gold gains as traders strap in for US inflation data Read More »
By Nikunj Ohri, Shivangi Acharya and Sarita Chaganti Singh NEW DELHI (Reuters) -India’s retail inflation eased in October to a four-month low, edging closer to the central bank’s target of 4%, which it has said needs to be firmly in sight before it can start lowering rates. Annual retail inflation fell to 4.87% in October, …
India’s retail inflation eases to four-month low in October Read More »
BENGALURU (Reuters) – Aditya Birla Group-owned Grasim Industries reported a decline in profit for the fifth straight quarter on Monday, hit by weak prices in its chemicals and textiles businesses. The company’s standalone net profit fell nearly 18% to 7.95 billion rupees ($95.50 million) in the three months ended Sept. 30 from a year earlier. …
India’s Aditya Birla Group-owned Grasim posts drop in Q2 profit on weak prices Read More »
AMSTERDAM (Reuters) -The Dutch division of Tata Steel on Monday said it would cut around 800 jobs at its IJmuiden plant in an effort to increase profitability. Tata currently employs around 9,200 people in IJmuiden, on the Dutch coast around 30 km (19 miles) west of Amsterdam. “Despite all efforts by Tata Steel to improve …
By Rajendra Jadhav MUMBAI (Reuters) – India’s imports of palm oil and sunflower oil in 2022/23 surged by 24% and 54%, respectively, to record highs on a rebound in consumption and as both oils were available at a steep discount compared to rival soyoil, a leading trade body said on Monday. Higher purchases by the …
India’s palm oil, sunoil imports rise to record highs; soyoil drops Read More »
BENGALURU (Reuters) – Goldman Sachs upgraded Indian shares to “overweight” from “marketweight”, citing strong economic growth prospects, steady domestic mutual fund inflows and a potential supply chain shift from China. Indian markets will continue to gain in 2024, supported by steady earnings growth and macroeconomic stability in what would otherwise be a “tricky” period in …
Goldman Sachs raises Indian shares to “overweight” on growth, earnings momentum Read More »
MUMBAI (Reuters) – Indian states will aim to raise an aggregate of 125 billion rupees ($1.50 billion) on Monday through the sale of bond maturing in 10 years to 30 years. The Reserve Bank of India will likely set cut-off yields for the 10-year bonds in the 7.69%-7.72% band, according to a Reuters poll of …
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee inched up on Monday on expectations that the central bank would ensure that there is no fallout of the previous session’s decline to a lifetime low. The rupee was at 83.2950 to the U.S. dollar, up from 83.34 on Friday. The currency traded in a choppy …
Rupee marginally up on RBI’s ‘proactive involvement’ Read More »
