By Sarita Chaganti Singh NEW DELHI (Reuters) – India has extended a waiver of transmission fees for renewable power to hydrogen manufacturing plants commissioned before January 2031, as it aims to become the world’s cheapest producer of the fuel, a government official said. The move is expected to cut the cost of green hydrogen – …
India extends transmission fee waiver for green hydrogen plants -source Read More »
MUMBAI (Reuters) – India’s foreign direct investment (FDI) flows may pick up only modestly in fiscal 2024 after a fall seen in the first 10 months of fiscal 2023, economists at Citi said in a note on Tuesday. Citi expects net FDI flows – which include both outflows and inflows – to be at $35 …
India’s foreign direct investment flows to see modest pick-up in FY24 – Citi Read More »
(Reuters) -India’s fuel consumption jumped to a record high in March, data showed on Monday, fuelled by robust economic activity in the world’s third biggest oil consumer. Consumption of fuel, a proxy for oil demand, rose by 5% from a year earlier to 4.83 million barrels per day (20.5 million tonnes), the highest recorded in …
India’s March fuel demand soars on robust economic activity Read More »
By Deep Kaushik Vakil (Reuters) – Gold retreated below the key $2,000 level on Monday as the dollar advanced on Friday’s strong U.S. jobs numbers, while traders also positioned for inflation readings this week that could influence interest rate hikes. Spot gold fell nearly 1% to $1,988.88 per ounce by 1:57 p.m. EDT (17:57 GMT), …
Gold falls below $2,000 as US jobs growth lifts dollar Read More »
MOSCOW (Reuters) – India remains the main destination for Russia’s seaborne Urals oil, with about 70% of such exports heading to the country, Reuters monitoring and data from two industry sources showed on Monday. Attractive prices for Urals mean good margins for Indian refiners while term contracts between Russian and Indian companies and lower freight …
India remains top destination for Russian Urals oil in April Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -Torrent Power has pipped Reliance Industries to emerge as the lowest bidder for the supply of 1,090 megawatts of gas-based power supply sought by the Indian government to meet anticipated record demand in the summer, two sources said. Torrent Power quoted 13.70 rupees per unit price to supply …
Torrent Power makes lowest bid for Indian power supply contract – sources Read More »
BENGALURU (Reuters) – Shares of Indian automaker Tata Motors Ltd rose as much as 8.15% to a seven-month high on Monday after its luxury car unit Jaguar Land Rover (JLR) reported strong fourth-quarter sales and forecast free cash flow of about $1 billion. Tata Motors’s shares were the top gainer on India’s bluechip Nifty 50 …
India’s Tata Motors jumps to a 7-month high on strong Q4 JLR sales Read More »
By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee weakened marginally on Monday as Asian currencies were tepid after U.S. payrolls data bolstered the case for further rate hikes by the Federal Reserve. The rupee was trading at 81.93 per dollar by 10:55 a.m. IST, compared with its previous close of 81.8850. Traders cited likely …
Rupee tad weaker as US data stokes Fed hike bets Read More »
MUMBAI (Reuters) – Singapore-based sovereign wealth fund Temasek said on Monday that it is acquiring an additional 41% stake in India’s Manipal Health Enterprises from investors including TPG, boosting its stake in one of the country’s largest hospital chains to 59%. While Manipal did not specify the deal value, Temasek has paid about $2 billion …
Temasek buys 41% stake in India’s Manipal Health for $2 billion- source Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Monday, aided by auto and realty stocks following strong quarterly business updates, but rising odds of a U.S. Federal Reserve rate hike in May capped gains. The Nifty 50 rose 0.28% at 17,647.70, as of 9:51 a.m. IST, while the S&P BSE Sensex rose 0.24% to …
Auto, realty stocks power Indian shares ahead of March quarter earnings Read More »
