Reuters India Business

By Hritam Mukherjee (Reuters) -Indian shares declined on Wednesday, led by heavyweight financial stocks, ahead of the Federal Reserve’s policy decision, with investors cautious that the U.S. central bank could signal fewer rate cuts ahead. The Nifty 50 closed 0.56% lower at 24,198.85 points, while the BSE Sensex fell 0.62% to 80,182.2. The benchmarks have …

Banks drag Indian shares lower, Fed outlook in spotlight Read More »

By Nishit Navin and Kashish Tandon (Reuters) -Shares of India’s MobiKwik soared 86% in their trading debut on Wednesday, valuing the financial technology firm at about 40 billion rupees ($474 million), as investors bet on its prospects in a booming online payments market. The stock is currently trading at 518 rupees. It listed at 440 …

Indian payments firm MobiKwik surges 86% in market debut, valued at $474 million Read More »

NEW DELHI (Reuters) – Elon Musk said Starlink satellite internet is inactive in India, his first comments since authorities seized two of the company’s devices in recent weeks, one in an armed conflict zone and another in a drug smuggling bust. Starlink is seeking approval in India to provide satellite broadband services and the Musk-owned …

Elon Musk says Starlink inactive in India after second device seized Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee dropped to a record low on Wednesday, weighed by persistent demand for U.S. dollars from importers and speculators ahead of the Federal Reserve’s policy decision. The rupee dropped to 84.9325, inching past its prior low of 84.93 hit in the previous session. “Natural dollar demand (from …

Indian rupee slips to lifetime low on dollar bids as Fed policy review looms Read More »

By Sherin Elizabeth Varghese (Reuters) – Gold slipped on Tuesday under pressure from a strengthening U.S. dollar and climbing Treasury yields as investors focused on the Federal Reserve’s final policy meeting of the year with growing expectations of a gradual pace of rate cuts in 2025. Spot gold was down 0.2% at $2,647.81 per ounce, …

Gold retreats as traders see slower Fed rate cuts in 2025 Read More »

BENGALURU (Reuters) -India’s central bank on Tuesday lifted restrictions on two Edelweiss Group companies that barred them from acquiring financial assets or undertaking structured transactions. The Reserve Bank of India (RBI) said it decided to lift the curbs after the companies engaged with the regulator over the concerns and after it was satisfied with the …

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