Reuters India Business

NEW DELHI (Reuters) – India will provisionally keep the price of locally produced gas from old fields at $8.57 per million metric British thermal units (mmBtu), the government said on Friday, while it considers a potential change to the pricing formula. Under the existing formula, the price was due to go up for April-September, but …

India keeps domestic gas prices on hold for now Read More »

By Sudarshan Varadhan SINGAPORE (Reuters) – Coal India Ltd said on Friday it had breached its annual production target of 700 million tonnes, the first time it had surpassed its goal since the fiscal year that ended in March 2006. The world’s largest coal mining company will likely end the fiscal year ending on Friday …

Coal India surpasses annual output target for first time in 17 years Read More »

BENGALURU (Reuters) – India’s Go Digit Insurance has re-filed draft papers for a $440 million initial public offering (IPO) after addressing the market regulator’s concerns related to the company’s employee stock plans, which had stalled the offering for months. The IPO comprises a fresh issue of shares worth 12.5 billion rupees ($152.1 million) and an …

India’s Digit Insurance re-files IPO papers after regulator concerns Read More »

By Shivangi Acharya NEW DELHI (Reuters) – India’s new foreign trade policy, to be adopted from April 1, will take steps to support international trade using the rupee currency, the government said on Friday, as it looks to boost exports amid slowing global trade. The South Asian nation is prepared to trade in rupees with …

India’s new trade policy aims to promote rupee trade Read More »

By Anushka Trivedi MUMBAI (Reuters) – Indian foreign exchange traders are betting on a rise in dollar/rupee forward premiums as U.S. interest rates are expected to ease later this year, bankers and analysts said. The USD/INR 1-year implied yield is forecast to rise to 3% levels within fiscal 2024 from around 2.40% currently, according to …

Dollar/rupee premiums to rise as US-India interest rate gap seen widening – analysts Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was trading higher versus the U.S. currency on Friday, helped by the dollar’s struggles and the positive risk mood. The rupee was quoting at 82.20 to the dollar at 11:32 a.m. IST compared with 82.3375 in the previous session. The local currency reached a high of …

Rupee inches up on last day of fiscal, runs into “usual” importer orders Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Friday, aided by high weightage information technology (IT) and financials stocks, as investors find valuations attractive after a recent correction, ahead of key economic data to gauge the path for future rate hikes. The Nifty 50 index was up 0.95% at 17,241.50, as of 11:00 a.m. …

Financials, IT aid Indian shares; Reliance jumps on demerger update Read More »

By Ira Dugal MUMBAI (Reuters) – Twelve large Indian states, which have released their local budgets over the past few weeks and forecast aggressive spending growth in 2023-24, are likely to fall short of their targets posing a risk to economic growth, experts said. The states – including Maharashtra, home to the country’s financial capital …

Indian states likely to fall short of spending targets, posing growth risk – economists  Read More »

By Aditi Shah and Tim Hepher NEW DELHI (Reuters) – Air India, until recently tied to an antiquated manual pricing system when setting airfares, is shifting to algorithm-based software long used by rivals to help it squeeze out more revenue from each flight. In another sign of the formerly government-owned carrier’s whirlwind transformation under its …

Analysis-From manual pricing to ChatGPT: How Air India is transforming under Tata Read More »