By Harshit Verma (Reuters) – Gold prices jumped 1% to a near two-week high on Wednesday, helped by a pullback in U.S. bond yields and the dollar as investors looked ahead to the Jackson Hole symposium for guidance on interest rates. Spot gold rose 1% to $1,916.20 per ounce by 2:17 p.m. EDT (1817 GMT), …
Gold scales near two-week peak as Treasury yields retreat Read More »
By Siddhi Nayak MUMBAI (Reuters) -Vegetable prices in India have begun to soften and are likely to decline from September, Reserve Bank of India (RBI) Governor Shaktikanta Das said in a speech on Wednesday. Spiralling prices of vegetables and cereals have led retail inflation in July to surge 7.44%, its highest in 15 months. “We …
Vegetable prices in India to decline from September, says cenbank chief Read More »
BENGALURU (Reuters) -Qatar Investment Authority will invest $1 billion for a 1% stake in India’s Reliance Retail Ventures, the retail arm of billionaire Mukesh Ambani’s Reliance Industries, nearly doubling its valuation to $100 billion from its last funding round in 2020. Reliance Retail, India’s largest retailer, has been partnering with a slew of global brands …
QIA to take stake in Ambani retail firm at $100 billion valuation Read More »
By Nikunj Ohri NEW DELHI (Reuters) – India’s state-owned payments bank plans to double its income this year from 7.6 billion Indian rupees ($91.94 million) in 2022/23 and seeks to partner with more banks to sell loans, Managing Director J Venkatramu said on Wednesday. India Post Payments Bank (IPPB) reported a net profit of 200 …
India’s state-owned payments bank plans to double income in FY24 – MD Venkatramu Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s asset managers are launching even more passive funds as an overcrowded market for active funds and their struggle to beat benchmark returns force a shift in the $558 billion industry. Moreover, passive funds, which replicate an index, are also cheaper for investors than active funds, whose composition …
Analysis-From Jio Financial to Zerodha, Indian asset managers go “passive” Read More »
BENGALURU (Reuters) – Private equity firm Everstone Capital said on Wednesday it has fully exited India’s SJS Enterprises by selling its remaining 29.5% stake in the company. The stake was bought by investors including some Indian mutual funds, an Everstone spokesperson said, adding that the firm made $66 million from the sale. SJS Enterprises makes a …
Everstone Capital exits India’s SJS Enterprises by selling 30% stake Read More »
BENGALURU (Reuters) – India’s Brightcom Group said on Wednesday it has set up an internal team to review its options after the market regulator found “manipulations” in its preferential share allotment and barred two top executives from director posts. The digital marketing company’s shares fell about 5%. India’s market regulator said on Tuesday that Brightcom …
India’s Brightcom reviews options after market regulator finds share allotment lapses Read More »
(Reuters) – Goldman Sachs sees revenue growth for India’s IT sector companies picking up, driven by pent-up demand for IT services and the impact of adopting generative artificial intelligence (AI) tech. The Wall Street bank forecast a 9%-10% revenue growth from 2025, saying the market could be under-appreciating the sector’s upside, even though near-term revenue …
Goldman Sachs sees India IT growth pick up in medium-term; initiates coverage Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee managed to hold above 83 to the dollar on Wednesday amid speculators considering the merit of short bets on the currency. The rupee was at 82.94 to the U.S. dollar by 11:06 a.m. IST, barely changed from the previous session. The currency recently hit a low …
Rupee short positions reconsider on ‘committed’ central bank Read More »
BENGALURU (Reuters) -Shares of India’s TVS Supply Chain Solutions trimmed early gains to trade 1.6% higher at 200.20 rupees in market debut on Wednesday, giving the company a valuation of 88.88 billion rupees ($1.07 billion). The company, which provides logistics services and is a part of the TVS Mobility Group, had priced its initial public …
India’s TVS Supply Chain up 1.6% in debut trade at $1 billion valuation Read More »
