Reuters India Business Archives - Page 751 of 1191

India regulator exploring non-disruptive approach to instant equity trade settlement

6 Nov 2023 6 Nov 2023

By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator said on Monday it will go ahead with a plan to allow the settlement of equity market trades within the same day as it looks for ways to help Indian retail investors, provided there were no “serious objections” from market participants. India in January transitioned to …

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Gold eases as spotlight turns to Fedspeak for interest rate cues

6 Nov 2023 6 Nov 2023

By Ashitha Shivaprasad (Reuters) – Gold eased on Monday as U.S. Treasury yields rose, with investors remaining cautious as they gear up for a host of Federal Reserve speakers this week including Jerome Powell for clarity on U.S. rate cuts. Spot gold fell 0.7% to $1,979.19 per ounce by 2:41 p.m. ET (1941 GMT) after …

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India’s Go First lenders to not release more funding to grounded airline – sources

6 Nov 2023 6 Nov 2023

By Siddhi Nayak MUMBAI (Reuters) – Lenders to India’s Go First are not in favour of releasing additional funding to the grounded airline, given its legal troubles with lessors and complexities related to changes in the bankruptcy law, two banking sources told Reuters on Monday. Go First’s lenders, which include the Central Bank of India, …

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India’s October fuel demand revs up on festive boost

6 Nov 2023 6 Nov 2023

(Reuters) -India’s fuel consumption rose to a four-month high in October, government data showed on Monday, as increased industrial activity boosted sales during the festive season and the onset of winter in the world’s third biggest oil consumer. Total consumption in October, a proxy for oil demand, rose by 5.5% to 19.26 million tonnes from …

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India cenbank’s flip-flop on NDF market makes lenders wary -bankers

6 Nov 2023 6 Nov 2023

By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India’s unpredictability on when it could restrict lenders from the non-deliverable forwards (NDF) market has led banks to reconsider their trading approach, hampering volumes in that segment, bankers said. The RBI first opened the NDF market to Indian banks in June 2020, …

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India’s Byju’s in talks to sell unit Epic for $400 million to PE fund Joffre – Bloomberg News

6 Nov 2023 6 Nov 2023

BENGALURU (Reuters) -Indian ed-tech firm Byju’s is in advanced talks to sell its U.S.-based kids’ digital reading platform Epic! Creations for about $400 million to private equity fund Joffre Capital, seeking funds to ease its financial pressures, Bloomberg News reported on Monday, citing people familiar with the matter. Byju’s has been looking to raise up …

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India’s Exide Industries tops Q2 profit view, says “optimistic” on demand

6 Nov 2023 6 Nov 2023

BENGALURU (Reuters) – India’s Exide Industries on Monday reported a better-than-expected second-quarter profit helped by steady sales, and said it was optimistic on the near-to-medium term demand outlook. The battery maker posted a standalone net profit after tax of 2.87 billion rupees ($34.50 million) for the quarter to Sept. 30, up 16.5% year-on-year. It also …

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India’s Zydus Wellness profit drops on one-off deferred tax expense

6 Nov 2023 6 Nov 2023

BENGALURU (Reuters) – Indian consumer good company Zydus Wellness reported a more than 30% drop in second-quarter net profit on Monday due to a one-off deferred tax expense. The maker of Glucon-D energy drink and Complan health drink, posted a net profit of 59 million rupees ($709,134.62) for the quarter ended Sept. 30, as it …

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India cenbank could raise rates if oil prices see sustained rise, Morgan Stanley says

6 Nov 2023 6 Nov 2023

MUMBAI (Reuters) – India’s central bank could restart its rate increases if Brent crude oil rises and stays above $110 per barrel, widening the country’s current account deficit and hurting the rupee, Morgan Stanley said in a note on Sunday. “Sustained higher oil prices would… mean that the current account deficit would likely widen to …

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Weak October car sales threaten inventory pile-up, warns Indian dealers’ body

6 Nov 2023 6 Nov 2023

By VarunVyas Hebbalalu BENGALURU (Reuters) – India’s retail vehicle sales fell 7.7% from a year earlier in October, a dealers’ body said on Monday, adding that a build-up of inventory of passenger vehicles (PV) was a cause for concern. The average inventory for the PV segment ranged from 63 days to 66 days in October, …

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