Reuters India Business

BENGALURU (Reuters) – India has cut its windfall tax on crude oil and exports of aviation turbine fuel and diesel, according to a government notification dated Feb. 15. Windfall tax on crude was cut to 4,350 rupees ($52.60) per tonne from 5,050 rupees per tonne, effective Thursday. The government also cut export tax on aviation …

India cuts windfall tax on crude, aviation turbine fuel and diesel Read More »

By Tim Hepher and Aditi Shah PARIS/BENGALURU (Reuters) – As global aerospace savours a record Air India 500-plane deal cheered by world leaders, it is the turn of leasing companies to line up for a piece of the action. Experts say the mainly Dublin-based lessors, who rent jets out for a monthly fee, could play …

Analysis-Lessors lead rush to finance huge Air India jet order Read More »

By Davide Barbuscia NEW YORK (Reuters) -India’s Adani Group and two of its main subsidiaries caught up in a short-selling storm in recent weeks are to hold calls with bond investors on Feb. 16 and Feb. 21, according to a document seen by Reuters. The planned calls follow a long-awaited credit report issued by the …

Adani Group hires banks to hold bond investor calls after market rout Read More »

By Nimesh Vora and Dharamraj Dhutia MUMBAI (Reuters) -The anticipation of Housing Development Finance Corp, India’s largest mortgage lender, executing an interest-rate hedge once it completes its mega bond sale this week, is driving longer-duration bond yields lower, traders said on Wednesday. The lender aims to raise at least 50 billion rupees ($603.4 million) through …

HDFC’s potential rate-hedge pulls down Indian bond yields – traders Read More »

By Ira Dugal MUMBAI (Reuters) – The soaring prices of cereals such as wheat and rice are a concern for the Indian economy even though the latest set of inflation data may overstate the extent of the increase, economists said. Inflation in the cereals category hit 16.12% in January compared to 13.79% in December, according …

India cereal inflation broad-based and worrying despite data discord – economists Read More »

By Dharamraj Dhutia MUMBAI (Reuters) – The biggest-ever bond issue by India’s Housing Development Finance Corp is expected to go smoothly without any major increase in interest costs for the financier as long-term investors will likely absorb the sale, bankers said. HDFC aims to raise at least 50 billion rupees ($603.4 million) through the sale …

Indian lender HDFC’s biggest-ever bond issue to see strong demand – bankers Read More »

NEW DELHI (Reuters) – India’s merchandise trade deficit in January hit its lowest in a year at $17.75 billion, down from $23.76 billion in the previous month, according to a Reuters calculation based on export and import data released by the government on Wednesday. January merchandise exports were $32.91 billion, compared with $34.48 billion in …

India’s Jan merchandise trade deficit hits 1-year low of $17.75 billion Read More »

(Refiles to drop extraneous words in paragraph 3) BENGALURU (Reuters) – Vedanta Resources said on Wednesday it had brought down debt significantly, seeking to allay market concerns after S&P Global Ratings last week raised doubts about its ability to meet financial obligations beyond September. The billionaire Anil Agarwal-owned company – parent of Indian resources giant …

Vedanta Resources says it cut net debt by $2 billion in fiscal 2023 Read More »