By Nimesh Vora MUMBAI (Reuters) – The Indian rupee rose against the U.S. dollar on Wednesday amid weakness in the American currency, but was not able to move past a key level, while lower U.S. yields pushed far forward premiums to their highest since October. The rupee was at 82.1850 to dollar by 11:00 a.m. …
Rupee faces opposition at 82/USD; premiums at highest since October Read More »
BENGALURU (Reuters) – Growth in India’s dominant services industry eased last month from February’s 12-year high due to a softer expansion in demand, according to a private survey, which also showed input cost inflation falling to its lowest since September 2020. The S&P Global India services Purchasing Managers’ Index fell to 57.8 last month from …
India’s services growth loses some steam in March, input cost inflation eases Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Wednesday, aided by strong quarterly updates from finance companies and banks, while inflation concerns kept investors cautious a day ahead of the Reserve Bank of India’s monetary policy decision. The Nifty 50 index was up 0.50% at 17,485.40, as of 10:20 a.m. IST. The S&P BSE …
Financials aid rise in Indian shares ahead of RBI rate decision Read More »
By Deep Kaushik Vakil (Reuters) – Gold extended gains on Tuesday and crossed the key $2,000 level as the dollar and yields fell, while weaker U.S. economic data emboldened bets for slower rate hikes despite mounting concerns over oil-led inflation. Spot gold was up 1.7% at $2,017.92 per ounce by 2:00 p.m. EDT (1800 GMT), …
BENGALURU (Reuters) – J.P.Morgan on Tuesday placed Indian IT services provider HCL Technologies Ltd on “negative catalyst watch” ahead of the earnings season, citing the highest near-term risks for the company. “We remain cautious on the IT sector as we see downside risks to earnings and multiples from the weak fourth quarter prints and FY24 …
J.P.Morgan puts India’s HCL on ‘negative catalyst watch’ ahead of Q4 results Read More »
By VarunVyas Hebbalalu BENGALURU (Reuters) – Walmart Inc-backed digital payments firm PhonePe Pvt Ltd launched an app called Pincode on the Indian government’s open network on Tuesday to strengthen its e-commerce business. The Open Network for Digital Commerce (ONDC) was launched last year to enable small merchants and local stores across India to access processes …
India’s PhonePe launches e-commerce app on government’s open network Read More »
By Nidhi Verma NEW DELHI (Reuters) – India’s Bank of Baroda has stopped clearing payments for Russian oil sold above the price cap set by the West from this month, three sources with direct knowledge of the matter said, a move that could expedite transition to a rupee trade mechanism. Some Indian refiners were paying …
NEW DELHI (Reuters) – No contamination was found in samples of eye drops made by India’s Global Pharma Healthcare, a product linked to three deaths and blindness in some patients in the U.S., broadcaster NDTV reported on Tuesday citing India’s health ministry sources. Indian tests found the samples to be of “standard quality”, the report …
India tests of eye drops linked to US deaths show no contamination – NDTV Read More »
NEW DELHI (Reuters) -India cut its windfall tax on crude oil to zero from 3,500 rupees ($42.56) a tonne and halved the tax on diesel to 0.5 rupee per litre, a government notification said on Tuesday. India in July imposed a windfall tax on crude oil producers and on exports of gasoline, diesel and aviation …
India cuts windfall tax on crude oil to zero, diesel halved Read More »
(This March 31 story has been corrected to clarify parent company of ArcelorMittal-Nippon Steel India signed loan deal and not the JV) BENGALURU (Reuters) – ArcelorMittal SA on Friday said AMNS Luxembourg Holding S.A., the parent company of ArcelorMittal Nippon Steel India (AM/NS India), has entered into a $5 billion loan deal with a consortium …
AMNS Luxembourg inks $5 billion loan deal with Japanese banks to fund India JV Read More »
