By Siddhi Nayak and Bhakti Tambe MUMBAI (Reuters) -The Indian central bank’s move to remove the cap on how much a bank can invest in bonds they intend to hold to maturity will boost lenders’ appetite for government securities and benefit their bottom lines, bankers and analysts said on Wednesday. The Reserve Bank of India …
India’s revised bank investment norms seen boosting debt appetite, earnings Read More »
By Bharath Rajeswaran and Archishma Iyer BENGALURU (Reuters) -Indian shares edged up in mid-day trade on Wednesday after a lackluster start, led by gains in financials and energy stocks as investors bet on large-cap companies amid heightened volatility in small- and mid-caps after a record run. The Nifty 50 index was up 0.36% at 20,067.30 …
Indian shares rebound; benchmarks outperform volatile small-, mid-caps Read More »
By Hritam Mukherjee BENGALURU (Reuters) – India’s Aeroflex Industries, whose metal hoses are used in utilities, refineries and fire fighting equipment, is in talks to enter the aerospace sector, a top company executive said, aiming to capitalise on the country’s burgeoning space program. Following the recent success of its lunar mission, India launched its first …
India’s Aeroflex in talks to enter aerospace sector – executive Read More »
By Rajendra Jadhav MUMBAI (Reuters) – Sugar output in Maharashtra, India’s top producing state, is likely to fall 14% in the 2023/24 crop year to its lowest in four years due to lower cane yields following the driest August in more than a century, industry and government officials told Reuters on Wednesday. The reduced output …
Sugar output in India’s Maharashtra set to fall to lowest in 4 years after dry August Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Wednesday with traders adjusting positions ahead of U.S. inflation data, which will play a key role in the Federal Reserve’s decision on whether more rate hikes are needed. The rupee was at 82.9275 against the U.S. dollar as of 11:14 a.m. IST, …
Rupee traders lighten positions in lead up to US inflation data Read More »
MOSCOW (Reuters) – Russia’s VTB Bank said on Wednesday that it will launch money transfers in Indian rupees by the end of September. Retail customers will be able to send money to individuals and legal entities in India, the bank said. The maximum volume of one transaction will be 20 million roubles ($213,106), the commission …
Russia’s VTB to launch cross-border money transfers to India Read More »
(This Aug. 31 story has been corrected to drop an erroneous reference to the company operating in the aviation sector, in paragraph 2) By Hritam Mukherjee and Rama Venkat BENGALURU (Reuters) – Shares of India’s Aeroflex Industries surged as much as 82% in their trading debut on Thursday before settling 51% higher, valuing the company …
India’s Aeroflex soars as much as 82% in stellar market debut Read More »
By Harshit Verma (Reuters) – Gold slipped to a more than two-week low on Tuesday as the dollar rebounded, while investors positioned for the U.S. inflation data on Wednesday. Spot gold was down 0.5% at $1,912.39 per ounce by 1:50 p.m. EDT (1750 GMT), its lowest since Aug. 25. U.S. gold futures settled 0.6% lower …
Gold slips on dollar rebound as US inflation test nears Read More »
By Elena Fabrichnaya MOSCOW (Reuters) – Russia’s top lenders Sberbank and VTB have said they are improving their ability to convert rupees into roubles, helping exporters to get funds effectively trapped in India due to Western sanctions. After Moscow despatched troops to Ukraine in February 2022, Western countries imposed sweeping sanctions and have sought to …
Top Russian banks say exporters can now get trapped funds from India Read More »
By Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) – India’s industrial output rose at its fastest pace in five months in July, helped by strong mining and electricity activity, but high inflation and slowing pent-up demand may dampen future growth, economists said. Industrial output rose 5.7% year-on-year in July, compared with a revised 3.8% …
India’s July industrial output rises to five-month high on robust economic activity Read More »
