NEW DELHI (Reuters) – India has asked utilities to import 6% of their coal requirement until March, due to rising power demand and inadequate supply of domestic coal, the power ministry said. Worries have mounted over shrinking coal stocks at power plants, where inventories fell the fastest in two years during the first half of …
India asks utilities to import 6% of their coal until March Read More »
By Ashitha Shivaprasad and Deep Kaushik Vakil (Reuters) – Gold vaulted over $2,000 on its way to a third straight weekly gain on Friday, as an escalation in the Israel-Hamas conflict fuelled safe-haven buying, while investors awaited the U.S. Federal Reserve policy meeting due next week. Spot gold jumped 1.2% to its highest since mid-May …
Gold gains 1% on MidEast risks, spotlight on Fed meet Read More »
(Reuters) – India’s summer-sown rice output, which accounts for more than 85% of its annual production, is expected to total 106.3 million tonnes in the 2023-24 crop year, the agriculture ministry said in its first production estimate. The country’s overall summer-sown grains output is expected at 148.6 million tonnes in the 2023-24 crop year that …
India’s summer-sown rice output expected at more than 100 million tonnes in 2023-24 Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India on Friday extended the suspension of trading in derivative contracts of key farm commodities for the second time, to run into late 2024, as the world’s largest importer of vegetable oils and a major producer of wheat and rice seeks to curb food inflation. The Securities and Exchange …
India extends halt on futures trading in key farm commodities to December 2024 Read More »
By Jayshree P Upadhyay (Reuters) – India’s plan to allow the settlement of equity market trades within the same day is facing pushback from offshore investors who fear it will lead to a fragmented system and add to the cost of trading, said two people with direct knowledge of the matter. The concerns were raised …
By Sethuraman N R BENGALURU (Reuters) -India’s most valuable company Reliance Industries reported a weaker-than-expected quarterly profit on Friday as a fall in crude prices hit revenue from fuel sales and hurt its mainstay oil-to-chemicals (O2C) business. Billionaire Mukesh Ambani-led Reliance relies heavily on its O2C business to make money despite its aggressive expansion into …
India’s Reliance misses profit view as crude drop hurts mainstay business Read More »
By Rishika Sadam HYDERABAD/BENGALURU (Reuters) -India’s Dr Reddy’s Laboratories reported a bigger-than-expected rise in second-quarter profit on Friday, boosted by strong U.S. sales of its generic version of popular cancer drug Revlimid. Its consolidated net profit after tax jumped 33% to 14.82 billion rupees ($178 million) in the quarter ended Sept. 30, compared with analysts’ …
India’s Dr Reddy’s tops Q2 profit view on strong US demand Read More »
(Reuters) – India’s asset managers are in discussions to launch a new mutual fund product with relaxed risk management norms but requiring a minimum investment amount, a mutual fund industry body said on Friday. “There are deliberations within the industry for an instrument that caters to investors who are looking for an intermediate investment product …
India’s asset managers mull launch of higher-risk mutual fund -industry body Read More »
By Kashish Tandon and Rishika Sadam BENGALURU/HYDERABAD (Reuters) – Cipla, India’s No.3 generic drugmaker by sales, reported a better-than-expected quarterly profit on Friday, boosted by strength in its key domestic and North American businesses. The results come at a time when Cipla’s founding family is looking to sell their 33.4% holding in the drugmaker. However, …
Indian drugmaker Cipla tops Q2 profit view on solid domestic, N.America sales Read More »
By Nandan Mandayam BENGALURU (Reuters) -Sales of small cars may bounce back in two-to-three years once consumers’ income levels increase, Maruti Suzuki India’s chairman said on Friday, after the carmaker smashed quarterly profit estimates thanks to strong sales of larger and pricier vehicles. Stubbornly high borrowing rates and inflation that is only just cooling have …
India’s small car sales may rebound in 2-3 years – Maruti Suzuki exec Read More »
