Reuters India Business

By Shaloo Shrivastava BENGALURU (Reuters) – India’s manufacturing growth slowed to a three-month low in May as a heatwave prompted some companies to reduce working hours, but factory activity remained robust overall, bolstered by strong international sales, a business survey showed on Monday. Asia’s third-largest economy often sees high temperatures during May and they soared …

India’s May factory growth slipped to 3-month low but remained sturdy, PMI shows Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee pared early gains after jumping to a more-than-two-month high in early trading, following exit poll projections that Indian Prime Minister Narendra Modi’s party and alliance will secure a third term with a sizeable mandate, boosting investor confidence. The rupee was at 83.08 against the U.S. dollar …

Rupee trims gains after rising to over two-month high, forward premiums slip Read More »

NEW DELHI (Reuters) – The chief minister of India’s capital New Delhi, Arvind Kejriwal, surrendered to prison authorities on Sunday as the interim bail granted by the country’s top court in a corruption case ended, his party officials said. Kejriwal, a firebrand politician who has been a vocal opponent of Prime Minister Narendra Modi, was …

Indian opposition leader returns to jail after vote ends Read More »

By Yousef Saba, Hadeel Al Sayegh and Maha El Dahan DUBAI (Reuters) – Saudi Arabia’s sale of shares in oil giant Aramco drew more demand than the stock on offer within hours of kicking off on Sunday, a deal that could raise up to $13.1 billion in a major test of international appetite for the …

Investors flock to Aramco share sale that could raise $13 billion Read More »

By Manoj Kumar NEW DELHI (Reuters) – India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting the annual increase on hold in April due to the country’s general elections. Toll charges in India are revised annually in line with inflation and highway operators put notices in local …

India to increase road toll charges from Monday Read More »

By Bharath Rajeswaran and Jayshree P Upadhyay MUMBAI (Reuters) – Expectations that Indian Prime Minister Narendra Modi will expand his alliance’s majority in parliament after the world’s biggest election are likely to boost the country’s financial markets on hopes of economic reforms. Exit polls released on Saturday after six weeks of voting projected Modi’s alliance …

India markets to cheer likely third term for Modi, hope for reforms Read More »

(Reuters) -The Indian government has cut the windfall tax on petroleum crude to 5,200 Indian rupees ($62.33) per metric ton from 5,700 rupees, effective on June 1, according to a notification issued on Friday. The tax, which is revised every fortnight, remains unchanged at zero for diesel and aviation turbine fuel. The Indian government on …

India cuts windfall tax on petroleum crude Read More »

By John Kemp LONDON (Reuters) – India’s electricity grid has remained stable despite a record-shattering heatwave in May, demonstrating a high degree of technical skill and avoiding embarrassing blackouts during the election period. Daily temperatures in the New Delhi suburb of Palam in north India have averaged a seasonal record 35.1 degrees Celsius (95 degrees …

Column-India runs power plants flat out to keep cool in heatwave and election: Kemp Read More »