By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares trimmed gains on Wednesday, as information technology stocks reversed early gains and offset the broad sectoral rise, ahead of the June-quarter earnings of top companies. The Nifty 50 index rose 0.18% to 19,784.25, with the S&P BSE Sensex in toe at 66,921.20, as of 12:56 p.m. IST. Both …
Indian shares pare early gains as IT stocks reverse course Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee declined on Wednesday on the back of a Chinese yuan-led slide in Asian peers, while forward premiums inched lower. The rupee was at 82.0800 to the U.S. dollar by 11.07 a.m. IST, down from 82.03 on Tuesday. The offshore yuan slipped below 7.2150 versus the dollar, …
Rupee drops alongside Asian peers, equity inflows keep losses in check Read More »
DUBAI (Reuters) – Abu Dhabi’s ADNOC Gas on Tuesday announced a 14-year $7 billion-$9 billion deal with Indian Oil Corp to supply 1.2 million metric tonnes of liquefied natural gas (LNG) per year, ADNOC said in a statement. The deal was signed during Prime Minister Narendra Modi’s Visit to the United Arab Emirates (UAE) last …
By Ashitha Shivaprasad (Reuters) – Gold rose over 1% on Tuesday to a more than one-month high, bolstered by a softer dollar and lower Treasury yields, with investors betting that recent U.S. economic readings make the case for a pause in the Federal Reserve’s interest rate hikes. Spot gold was up 1.1% at $1,975.49 per …
Gold advances over 1% as traders bet on Fed rate pause Read More »
By Muvija M and Alistair Smout LONDON (Reuters) – India’s Tata is expected to announce on Wednesday that it has chosen to build an electric vehicle battery plant in Britain, a source familiar with the matter said, a win for the country’s automotive industry amid stiff global competition. Tata had been choosing between a site …
Tata to choose UK for new EV battery plant – source Read More »
BENGALURU (Reuters) -India’s Vedanta is awaiting government approval for incentives under a modified semiconductor production plan to begin construction of a plant in the country’s western state of Gujarat, for which its has tapped technology and equity partners, a top executive said on Tuesday. The metals-to-oil conglomerate has engaged with more than 100 global suppliers …
India’s Vedanta says it’s awaiting govt nod for semiconductor plant in Gujarat Read More »
BENGALURU (Reuters) – Auto components supplier CIE Automotive India on Tuesday reported a 60% jump in second-quarter profit, boosted by the growth in Indian and European markets. The unit of Spain’s CIE Automotive reported a consolidated net profit of 3.02 billion rupees ($36.8 million) for the quarter ended June 30, compared to 1.89 billion rupees …
CIE Automotive India’s Q2 profit surges on robust domestic, European demand Read More »
BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance reported a 33% jump in first-quarter profit on Tuesday, as gains in securities it invested in helped offset muted premium income growth. The insurer’s profit after tax rose to 2.07 billion rupees ($25.24 million) in the quarter ended June 30, from 1.56 billion rupees a year ago, …
India’s ICICI Prudential posts jump in Q1 profit on investment gains Read More »
BENGALURU (Reuters) – Polycab India posted an 82% surge in first-quarter profit on Tuesday, helped by higher sales in its mainstay wires and cables business. Consolidated net profit for India’s largest wires and cables maker climbed to 3.99 billion rupees ($48.65 million) in the three months ended June 30, compared with 2.20 billion rupees in …
Polycab India’s Q1 profit soars 82% on strong wires and cables business Read More »
By Andrea Shalal (Reuters) – World Bank President Ajay Banga unveiled new plans on Tuesday to stretch the bank’s balance sheet and help countries tackle climate change and other challenges, but said a capital increase would still eventually be needed. Banga, a former Mastercard CEO who took over the helm of the World Bank on …
World Bank chief Banga unveils new plans to boost lending ‘firepower’ Read More »
