By Nikunj Ohri NEW DELHI (Reuters) -India is planning to allow direct foreign investment in state-run banks of up to 49%, more than double current limits, according to a person directly involved in the policy discussions. The finance ministry has been discussing the matter with the Reserve Bank of India (RBI), the country’s banking sector …
By Bharath Rajeswaran (Reuters) -India shares rose on Monday, tracking their Asian peers, as optimism over signs of progress in U.S.-China trade talks lifted sentiment, while soft U.S. inflation data boosted bets for additional Federal Reserve rate cuts this year. The Nifty 50 rose 0.66% to 25,966.05 and the BSE Sensex added 0.67% to 84,778.84. …
Indian shares track Asia higher on US-China trade optimism, Fed rate cuts hopes Read More »
By Jaspreet Kalra MUMBAI(Reuters) -The Indian rupee logged its worst day in a month on Monday as a drop below the 88 per U.S. dollar mark spurred a flight out of long wagers on the currency, while persistent dollar demand from importers also weighed. The rupee closed at 88.2450 against the U.S. dollar, down 0.4% …
Rupee falls most in a month as traders cut long bets, importers buy dollars Read More »
(Reuters) -Indian chemicals and polymers maker SRF posted a 93% year-on-year jump in second-quarter profit on Monday, boosted by higher demand in its mainstay chemicals business. The company’s consolidated profit after tax rose to 3.88 billion rupees ($44.1 million) for the quarter ended September 30. SRF’s chemical business, which consists of specialty chemicals, fluorochemicals and …
Indian chemicals maker SRF’s profit jumps on robust demand Read More »
By Haripriya Suresh BENGALURU (Reuters) -LTIMindtree is doubling down on AI with investments in a newly-launched platform that helps companies adopt the technology, its top boss said, as India’s $283-billion IT industry faces broader cuts in non-essential spending by clients. The business, BlueVerse, launched in June, uses ready-made digital assistants to solve problems for firms. …
India’s LTIMindtree betting big on new AI unit, CEO says Read More »
By Dharamraj Dhutia and Khushi Malhotra MUMBAI (Reuters) -Two subsidiaries of India’s Tata Sons, operating in the real estate and infrastructure segments, are set to raise as much as 29 billion rupees ($330 million) through short-term debt sale over the next two months, two merchant bankers said on Monday. Tata Housing Development could raise around …
Housing, infra units of India’s Tata Sons plan $330 million bond sales, say bankers Read More »
By Manoj Kumar NEW DELHI (Reuters) -Amazon on Monday said it has helped Indian sellers surpass $20 billion in total exports, including nearly $7 billion this year, as small operators work to offset the impact of new U.S. import tariffs that were imposed in August. The company said it remained confident in its long-term growth …
Amazon says India’s e-commerce exports top $20 billion, despite US tariffs Read More »
By Jayshree P Upadhyay, Jaspreet Kalra and Gopika Gopakumar MUMBAI (Reuters) -Rattled by nearly $17 billion in foreign outflows this year, India is doubling down on financial sector reforms in a push to beef up capital buffers and lift investment in the country amid wider worries about the economic hit from U.S. tariffs. Several measures …
Analysis-India races to reform financial sector as foreigners pull $17 billion Read More »
By Pranoy Krishna BENGALURU (Reuters) -The Indian economy will grow slightly faster than previously expected this fiscal year, a Reuters poll showed, as economists raised their forecasts for a second straight month following a surprise 7.8% expansion in the April to June quarter. That unexpected boost, along with a cut to the country’s Goods and …
By Lewis Jackson and Aditi Shah BEIJING/NEW DELHI (Reuters) -Indian billionaire Mukesh Ambani’s Reliance Industries is rushing to get its orders of battery components out of China ahead of new export curbs, two people briefed on the matter said, as concerns mount worldwide about how Beijing intends to enforce its widening export control regime. A …
