By Seher Dareen (Reuters) – Gold prices dropped over 2% on Friday to a more than three-week low after stronger-than-expected U.S. jobs data raised fears that the Federal Reserve could keep hiking interest rates. Spot gold dipped 2.6% to $1,863.66 per ounce by 1:40 p.m. ET (1840 GMT). U.S. gold futures settled down 2.8% to …
Gold slides over 2% as robust jobs report stokes hawkish Fed fears Read More »
NEW DELHI (Reuters) -The U.S. Food and Drug Administration (FDA) has warned against using an eye drop made in India that has been linked to the outbreak of a drug-resistant bacteria leading to adverse events in at least 55 patients in the United States including infections, blindness and one death. The agency said on Thursday …
U.S. FDA says India-made eye drop linked to some infections, blindness and one death Read More »
By Tanvi Mehta (Reuters) -Credit ratings agency S&P on Friday cut its rating outlook on Adani Ports and Special Economic Zone and Adani Electricity to negative from stable, while peer Moody’s warned the recent sell-off in Adani Group’s shares could hurt the Indian conglomerate’s ability to raise capital. This comes after U.S. short seller Hindenburg …
S&P cuts two Adani firms’ rating to negative from stable Read More »
By Nimesh Vora and Anushka Trivedi MUMBAI (Reuters) – The Reserve Bank of India’s likely absence in the forward market in the wake of the rupee’s decline past 82 per dollar has halted the uptrend in forward premiums, analysts said on Friday. The 1-year USD/INR forward implied yield declined to 2.22% on Friday, adding to …
Forward premiums reverse course on Indian rupee fall, bets of RBI absence Read More »
By Shivam Patel, Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – India’s Gautam Adani, the school dropout who rose to become one of the world’s richest men, suffered a stunning defeat when his flagship firm withdrew a blockbuster share sale after an attack by a small U.S. investment firm over his business practices. The …
Gautam Adani, one of India’s most powerful men, suffers a rare defeat Read More »
(Reuters) -French oil major TotalEnergies SE said on Friday its exposure to ventures with India’s Adani Group is limited and is not re-evaluating its stakes in Adani Total Gas and Adani Green Energy. Shares in Adani Group firms have plummeted in the past week since U.S. short seller Hindenburg’s Jan. 24 report which questioned the …
TotalEnergies says has limited exposure to Adani Group companies Read More »
BENGALURU (Reuters) – Indian pharmaceutical firm Divi’s Laboratories Ltd on Friday reported a third-quarter profit that widely missed analysts’ estimates, hurt by higher inventory costs, and sent its shares tumbling more than 13%. The Hyderabad-based company said consolidated net profit for the three months ended Dec. 31 was 3.07 billion rupees ($37.34 million), down from …
Divi’s Labs misses Q3 profit view; shares plunge over 13% Read More »
NEW DELHI (Reuters) – India’s finance secretary, when asked about the Adani Group companies’ stock rout, said there was no cause for concern for depositors, policyholders or investors in any nationalised banks or insurance companies, NDTV reported. The exposure of the State Bank of India and the Life Insurance Corporation of India in any company …
By Siddhi Nayak and Swati Bhat MUMBAI (Reuters) – India’s debt and forex markets could have a relatively calm year with rangebound moves as most global and domestic risks are factored in, although greater clarity on most parameters will emerge from April, HDFC Bank’s treasurer told Reuters on Friday. “This year we could see much …
BENGALURU (Reuters) – Indian generic drugmaker Zydus Lifesciences Ltd reported a bigger-than-expected 24.5% rise in third-quarter profit on Friday, helped by strong sales in its key domestic and U.S. markets. The Ahmedabad-based company said its consolidated net profit for the three months ended Dec. 31 was 6.23 billion rupees ($75.78 million), up from 5 billion …
India’s Zydus Lifesciences beats Q3 profit view on strong India, U.S. sales Read More »
