By Brijesh Patel (Reuters) – Gold prices fell on Wednesday as a stronger dollar, higher bond yields and hawkish comments from a Federal Reserve official weighed on market sentiment as it braced for the release of U.S. inflation data. Spot gold fell about 0.8% to $2,342.80 per ounce by 1348 p.m. ET (1748 GMT). U.S. …
Gold slips on higher dollar, Treasury yields; US PCE data in focus Read More »
BENGALURU (Reuters) -India’s Tata Steel said on Wednesday it would save most jobs as it restructures its UK operations following a drop in fourth-quarter profit due to lower steel prices and impairment charges. The country’s second-biggest steelmaker by market cap said its consolidated net profit fell 64% to 6.11 billion rupees ($73.3 million) in the …
India’s Tata Steel Q4 profit falls on lower prices amid restructuring Read More »
MUMBAI (Reuters) – India’s central bank on Wednesday barred two Edelweiss Group companies from acquiring financial assets or undertaking structured transactions, saying they engaged in “evergreening” distressed loans. Evergreening refers to a practice where new loans are given to stressed borrowers to enable them to repay existing loans. The RBI has publicly warned against the …
India cenbank acts against two Edelweiss Group companies for ‘evergreening’ loans Read More »
By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) -India is poised to begin wheat imports after a six-year gap, to replenish depleted reserves and hold down prices that leaped following three years of disappointing crops, sources say, as the approaching end of general elections removes a key hurdle. New Delhi is expected to abandon …
Analysis-India set for wheat imports after six years, to shore up reserves Read More »
By Dimpal Gulwani BENGALURU (Reuters) -Indian benchmarks saw their worst session in nearly three weeks on Wednesday, dragged down by heavyweight financials and information technology stocks amid uncertainty around domestic election results and the timing of U.S. rate cuts. The blue-chip NSE Nifty 50 closed 0.8% lower at 22,888.15 points, while the S&P BSE Sensex …
Indian benchmarks fall most in three weeks; election, rate cut doubts weigh Read More »
MUMBAI (Reuters) – Some Indian asset reconstruction companies (ARCs) have been circumventing regulations and have allowed themselves to be used for the evergreening of distressed assets, a deputy governor at the Reserve Bank of India said in a recent speech. The RBI has increased supervision of regulated entities to prevent systemic risks and to ensure …
Some Indian asset recast firms circumventing rules, says RBI deputy Read More »
By Praveen Paramasivam (Reuters) – United Parcel Service, the world’s biggest parcel delivery firm, is in talks with several Indian state governments to make some of the tags used in tracking packages in the Asian country, a senior executive told Reuters on Wednesday. Semiconductor manufacturing is among Prime Minister Narendra Modi’s key business agendas as …
UPS to make some parcel-tracking tags in India, executive says Read More »
BENGALURU (Reuters) -India’s Paytm is not in talks to sell a stake in itself, while neither billionaire Gautam Adani nor his namesake power-to-ports group are looking to buy shares in the embattled digital payments firm, the companies said on Wednesday. Paytm CEO Vijay Shekhar Sharma had visited Adani, the billionaire chairman of the Adani conglomerate, …
India’s Paytm, Adani Group say not in stake sale talks Read More »
By Brijesh Patel (Reuters) – Gold prices gained on Tuesday, helped by a weaker dollar as investors look forward to U.S. inflation data due later this week for more clarity on interest rate cut timings. Spot gold was up 0.3% at $2,357.44 per ounce by 1:55 p.m. ET (1755 GMT). U.S. gold futures settled 0.9% …
Gold rises on softer dollar as focus shifts to US inflation data Read More »
By Pritam Biswas (Reuters) -Novelis, owned by Indian billionaire Kumar Mangalam Birla’s Hindalco Industries, is targeting a valuation of up to $12.6 billion in its initial public offering in the United States, the aluminum products maker said on Tuesday. The world’s largest recycler of aluminum, whose customers include Coca-Cola, Ford, Jaguar LandRover, said its parent …
Aluminum recycler Novelis targets up to $12.6 billion valuation in US IPO Read More »
