NEW DELHI (Reuters) -Steel Authority of India wants to increase coking coal purchases from Russia due to cheaper prices and is expecting four shipments, each with a capacity of 75,000 tons, in the quarter ending December, chairman Amarendu Prakash said on Monday. Coking coal, a key raw material in steelmaking, is in short supply and …
India’s SAIL wants to increase coking coal purchases from Russia Read More »
BENGALURU (Reuters) – Foreign portfolio investors (FPIs) sold Indian equities worth 245.48 billion rupees ($2.95 billion) in the month of October, the most in nine months, data from the National Securities Depository (NSDL) showed. FPIs had snapped a six-month buying streak in September. The selloff in October comes as U.S. Treasury yields hit fresh 16-year …
FPI selloff in Indian shares hits nine-month high in October – NSDL data Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Monday after the U.S. treasury yields fell and the dollar ceded ground on bets that the U.S. Federal Reserve is likely done hiking rates in the current cycle. The rupee was at 83.1850 against the U.S. dollar as of 10:40 a.m. IST, compared with …
Rupee rises on drop in US yields but lags rally in Asian peers Read More »
By Siddhi Nayak MUMBAI (Reuters) -India’s Bank of Baroda said on Saturday it had terminated the employment of its chief digital officer as part of action after the central bank found deficiencies in its mobile app, although the employee said it was his decision to leave. “We have taken action on a large set of …
India’s Bank of Baroda ends employment of key official after mobile app deficiencies Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India is planning to extend its free food grains programme by five years, Prime Minister Narendra Modi said on Saturday, as the government tries to shield consumers from rising prices of cereals ahead of a general election early next year. The extension will offer relief to consumers, but it …
India to extend free food grains programme by five years, says Modi Read More »
By Siddhi Nayak MUMBAI (Reuters) -State Bank of India, the country’s largest lender, reported an 8% increase in net profit for the July-September quarter on Saturday, helped by strong income from consumer loans as retail spending continues to grow. The bank’s net profit rose to 143.30 billion rupees ($1.72 billion) in its fiscal second quarter, …
India’s largest lender SBI’s profit rises 8% in July-Sept Read More »
NEW DELHI (Reuters) – India’s air safety watchdog proposes reduced night work hours and more rest for pilots, among measures to address rising complaints of pilot fatigue, according to draft regulations seen by Reuters on Saturday. The proposal from the Directorate General of Civil Aviation come more than two months after it decided to conduct …
India’s aviation watchdog proposes less work, more rest for pilots – draft Read More »
By M. Sriram MUMBAI (Reuters) -Embattled Indian ed-tech giant Byju’s on Saturday reported audited results for 2022, but only for its core business, not including its multi-billion dollar acquisitions, after a year-long delay due to governance issues and its auditor resigning. Byju’s parent Think & Learn’s operating losses fell 6% to 24 billion Indian rupees …
India’s Byju’s reports 2021-22 results after delay; losses fall 6% Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices gained on Friday as the U.S. dollar and Treasury yields slipped after weak U.S. jobs data cemented expectations that the Federal Reserve is done raising interest rates. Spot gold rose 0.4% to $1,994.28 per ounce by 3:14 p.m. ET (1914 GMT), after hitting a session high of $2,003.69. …
Gold firmed on Fed pause hopes after weak US jobs data Read More »
By Nandan Mandayam and Aditi Shah BENGALURU (Reuters) -India’s biggest airline IndiGo said on Friday it would lease new planes and extend agreements on some older ones to offset the disruption from new problems with Pratt & Whitney engines. Pratt & Whitney parent RTX said in July a rare powder metal defect could lead to …
India’s IndiGo to lease new aircraft to weather Pratt engine issues Read More »
