By Rajendra Jadhav, Mayank Bhardwaj, Shivam Patel NEW DELHI (Reuters) -India on Thursday ordered a halt to its largest rice export category in a move that will roughly halve shipments by the world’s largest exporter of the grain, triggering fears of further inflation on global food markets. The government said it was imposing a ban …
India imposes major rice export ban, triggering inflation fears Read More »
By Brijesh Patel (Reuters) – Gold prices slipped from a two-month high on Thursday as the dollar and bond yields ticked higher, although hopes for a pause in rate hikes by the U.S. Federal Reserve after July meeting limited the decline. Spot gold was down 0.4% at $1,969.53 per ounce by 1:42 p.m. EDT (1742 …
Gold slips from 2-month peak as dollar, yields rebound Read More »
By M. Sriram and Aditi Shah MUMBAI (Reuters) – Indian e-scooter maker Ola Electric expects revenue to quadruple to $1.5 billion this financial year and then double that again in two years, according to a document containing corporate projections and people briefed on the matter. The figures, however, pre-date surprise cuts by the federal government …
BENGALURU (Reuters) – Indian cement manufacturer Dalmia Bharat reported a nearly 34% fall in first-quarter profit on Thursday as lack of growth in cement prices and rise in raw material prices outweighed volume growth. The company’s consolidated net profit fell to 1.30 billion Indian rupees ($15.86 million) for the quarter ended June 30, from 1.96 …
India’s Dalmia Bharat posts 34% fall in Q1 profit on pricing concerns Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India has prohibited the export of non-basmati white rice with immediate effect, according to a government notice on Thursday, after a late start to seasonal monsoon rains hurt the crop and raised fears of a production shortfall. Here are some facts explaining why India is crucial to the global …
Factbox-Why Indian rice export ban is so important to global trade Read More »
BENGALURU (Reuters) – Home appliances company Havells India posted an 18.5% rise in first-quarter profit buoyed by sustained demand for its wires and cables due to steady infrastructure spending, sending shares 2.5% higher on Thursday. Analysts expected the wires and cables segment to grow in the quarter due to rising infrastructure spending by the federal …
Havells India’s Q1 profit rises on steady demand in cables business Read More »
By Bhakti Tambe MUMBAI (Reuters) – State Bank of India (SBI), the country’s largest lender, plans to raise up to 100 billion rupees ($1.22 billion) through the sale of infrastructure bonds maturing in 15 years, three bankers said on Thursday. “The bank has taken internal approvals for the issue and bidding is expected in the …
SBI plans infra bond issue to raise 100 billion rupees – bankers Read More »
By Chris Thomas and Sethuraman N R BENGALURU (Reuters) -Jio Financial Services (JFS) has been valued at around $20 billion after its stock price was set at a much higher-than-expected 261.85 rupees ($3.19) in its demerger from Indian billionaire Mukesh Ambani’s Reliance Industries. The demerger, which was announced last October, is seen as oil-to-retail conglomerate …
Reliance spin-off Jio Financial valued at $20 billion, above estimates Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee inched up on Thursday in the wake of a rally in the Chinese yuan, while its realized volatility dropped below 3%. The rupee was at 82.0350 to the U.S. dollar by 10:46 IST, up from 82.0925 on Wednesday. The rupee all through this week has been …
Rupee slightly up, near-term realized volatility below 3% Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined on Thursday, dragged by information technology stocks, while the demerged financial services unit of Reliance Industries settled at a higher-than-expected price at the end of a special trading session. The Nifty 50 index fell 0.27% to 19,780.05, while the S&P BSE Sensex lost 0.31% to 66,891.69, as …
IT drags Indian shares; Jio Financial’s discovered price above estimates Read More »
