Reuters India Business

By Neha Arora NEW DELHI (Reuters) – India’s Jindal Steel and Power Ltd (JSP) has received a flurry of enquiries from European buyers seeking finished steel products, indicating an uptick in exports in the current quarter through March, a senior company executive said on Tuesday. His comments come after JSP reported a nearly 68% drop …

India’s Jindal Steel and Power says enquiries from European buyers on the rise Read More »

By Tanvi Mehta and Arpan Chaturvedi NEW DELHI (Reuters) – Many Indians voiced their support for Gautam Adani on Tuesday as the school dropout-turned-billionaire sealed a $2.5 billion share sale in the face of criticism from a U.S. short-seller. “IndiaStandsWithAdani” was among the top trending hashtags on Twitter in response to losses totalling $65 billion …

As billionaire battles short-seller, ‘IndiaStandsWithAdani’ trends online Read More »

MUMBAI (Reuters) – The Indian rupee weakened beyond 82 versus the U.S. currency in late afternoon trade on Tuesday, with traders citing stop losses being triggered as the dollar index jumped. The rupee declined up to 82.05 per dollar, its lowest level since Jan. 10. It had opened at 81.58. Dollar purchases by foreign banks …

Indian rupee weakens to 82/USD, traders nervy in event-packed week Read More »

BENGALURU (Reuters) – Indian Oil Corp Ltd (IOC), the country’s top refiner, reported a 92.4% fall in third-quarter profit on Tuesday, hurt by static pump prices, higher costs and foreign exchange losses. The marketing under-recovery of oil marketing companies was hurt by retail prices that have remained unchanged since April 2022. The state-owned company reported …

Indian Oil Corp Q3 profit slumps 92% on loss in fuel sales Read More »

By Shubham Batra and Nikunj Ohri NEW DELHI (Reuters) – India on Tuesday forecast its economy would grow 6% to 6.8% in the coming financial year, slower than the projected pace for 2022/23 because of likely damage to exports from a global slowdown. The forecast in the government’s annual Economic Survey report is higher than …

India sees GDP growth slowing on global weakness Read More »

BENGALURU (Reuters) – Sun Pharmaceutical Industries Ltd, India’s largest drugmaker by revenue, reported a better-than-expected 5.2% rise in third-quarter profit on Tuesday, driven by higher sales of its specialty drugs. The company, known for its consumer healthcare products such as Revital vitamins and pain relief medicine Volini, said it earned a consolidated net profit of …

India’s Sun Pharma beats Q3 profit view on higher sales of specialty drugs Read More »

By Sudarshan Varadhan SINGAPORE (Reuters) – Reliance Industries has stopped selling petroleum coke within India and boosted imports of the product to turn it into synthetic gas to power its refineries, according to two sources familiar with the matter and trade data. Petroleum coke is a carbon intensive solid residue left over from coking units …

India’s Reliance stops local petcoke sales, boosts imports -sources Read More »