By Bharath Rajeswaran and Kashish Tandon BENGALURU (Reuters) -Indian shares ended lower on Friday, once again succumbing to profit booking after hitting all-time highs, although they locked in a third straight week of gains powered by a rally in financials and the return of foreign investors. The NSE Nifty 50 fell 0.28% to end at …
Indian shares dip on profit booking, but still log third week of gains Read More »
BENGALURU, June 21 (Reuters) – Business activity in India expanded at a faster clip this month from May thanks to gains in manufacturing and services, according to a business survey that also showed the pace of job creation was at its strongest in over 18 years. Robust gains in both sectors at the end of …
India business activity grew faster in June, job creation at 18-year high, PMI shows Read More »
BENGALURU (Reuters) – Indian education loan financier Avanse Financial Services (AFS) filed draft papers on Friday with the country’s markets regulator for an initial public offering (IPO) worth 35 billion rupees ($419 million). The Warburg Pincus-backed non-banking financial services provider is raising up to 10 billion rupees by issuing new shares, while existing shareholders are …
India’s Avanse Financial Services files for $419 million IPO Read More »
By Aditya Kalra and Neha Arora NEW DELHI (Reuters) – ArcelorMittal’s India joint venture has privately warned trade officials in New Delhi that a plan to curb imports of a key raw material for steelmaking overlooks the implications of the Red Sea crisis, a letter showed. The curbs planned by the world’s second-biggest producer of …
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee inched higher on Friday recovering from a decline to its lifetime low in the previous session that was spurred by weakness in the Chinese yuan and likely dollar outflows. The rupee was at 83.61 against the U.S. dollar as of 10:00 a.m. IST, up from its …
Rupee ticks up after weaker yuan triggers fall to record low Read More »
By Yuvraj Malik (Reuters) – Indian grocery startup Zepto said on Friday it has raised $665 million in an investment round, in less than a year of its last fundraising, underscoring the high demand for services that deliver essentials within minutes. Three-year old Zepto was valued at $3.6 billion, a sharp increase from the $1.4 …
Zepto raises $665 million in second funding round in a year Read More »
By Rajendra Jadhav (Reuters) – Food inflation in India, driven by supply-side factors like adverse weather affecting crops, has remained at around 8% year-on-year since November 2023 and is unlikely to ease any time soon, despite early arrival of monsoon rains and forecasts of above-normal rainfall. Elevated prices of food, which accounts for nearly half …
Explainer-Why food prices will remain high in India Read More »
By Brijesh Patel (Reuters) -Gold prices rose more than 1% on Thursday to their highest level in two weeks, as recent U.S. economic data showing signs of a slowdown in the world’s largest economy boosted bets for interest rate cuts from the Federal Reserve this year. Spot gold was up 1.4% at $2,358.79 per ounce …
Gold rises 1% to two-week peak as Fed rate-cut bets lift demand Read More »
BENGALURU (Reuters) -India’s markets regulator has asked Religare Enterprises to apply for approvals to let the billionaire Burman family buy more shares in the financial services company, dealing a blow to the company’s attempt to block the move. The Burmans, who founded and control consumer goods conglomerate Dabur India, raised their stake in Religare to …
India’s Religare asked to seek regulatory nod for top investor raising stake Read More »
BENGALURU (Reuters) – Indian metals-to-oil conglomerate Vedanta will raise up to 10 billion rupees (nearly $120 million) by issuing non-convertible debentures through a private placement, the company said on Thursday. In the past two months, Vedanta’s board has already approved raising up to $300 mln through debentures and a further up to $1 billion, although …
India’s Vedanta to raise $120 million via debt issue Read More »
