Reuters India Business

By Nimesh Vora MUMBAI (Reuters) – The maturity of a central bank dollar/rupee swap transaction next week is prompting worries over the availability of dollars in the banking system, pushing forward premiums lower, foreign exchange traders said on Monday. The Reserve Bank of India (RBI) had conducted a $5 billion sell/buy dollar/rupee swap last year. …

India cenbank’s $5 billion USD/INR swap expiry fuels dollar shortage concern Read More »

NEW DELHI (Reuters) – India’s wholesale price index in September fell 0.26% from a year earlier, according to government data released on Monday. Economists polled by Reuters had estimated the wholesale price index for September would rise 0.5%. It fell 0.52% in August. In September, fuel and power prices fell 3.35% from a year earlier, …

India’s September wholesale price index falls 0.26% y/y Read More »

BENGALURU (Reuters) -Shares of India’s Avenue Supermarts posted their steepest drop in five months on Monday after the DMart store chain operator posted its first drop in quarterly profit in three years. The retailer’s standalone profit after tax fell nearly 10% in the July-September quarter, while its EBITDA margin shrank to 8.1% from 8.6% a …

India’s DMart slides after posting first profit drop in three years Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Monday despite weakness among most of its Asian peers as likely U.S. dollar sales from the Reserve Bank of India (RBI) supported the local unit in the face of rising oil prices. The rupee was at 83.2550 against the U.S. dollar as …

Rupee ducks weakness among Asian peers aided by likely cenbank intervention Read More »

MUMBAI (Reuters) – The Reserve Bank of India is likely selling dollars via state-run banks to ensure that the rupee does not fall to a record low, four traders told Reuters on Monday. The rupee was at 83.2475 against the U.S. dollar, barely changed from its close at 83.2625 in the previous session, despite the …

Indian cenbank likely selling dollars to keep rupee off record low -traders Read More »

NEW DELHI (Reuters) – The Indian government said on Sunday it is actively reviewing the floor price it has set for basmati rice exports even as it continues to curb overseas shipments. The decision comes after New Delhi, the world’s biggest rice exporter, said on Saturday said it will maintain a $1,200 per ton minimum …

India reviewing floor price for basmati rice exports Read More »

NEW DELHI (Reuters) – India said on Saturday it will maintain the floor price for basmati rice exports until further notice, according to a government order, as the world’s biggest exporter continues to curb overseas shipments of the grain. India imposed a $1,200 per ton minimum export price (MEP) on basmati rice shipments in August …

India maintains basmati rice floor price as grain-export curbs continue Read More »

BENGALURU (Reuters) -Adani Enterprises, backed by billionaire Gautam Adani, said on Friday that India’s corporate affairs ministry was investigating the accounts of the group’s two airports in the country’s financial capital of Mumbai. It said the ministry had sought information and documents on the airports – Mumbai International Airport Ltd and Navi Mumbai International Airport …

India’s Adani says ministry probing accounts of its two Mumbai airports Read More »