Reuters India Business

(Reuters) – India’s local authorities seized four aircraft belonging to Jet Airways for non-payment of gratuity dues, CNBC-TV18 reported on Tuesday, citing sources. The Mumbai district administration seized three Boeing and one Airbus planes after an authorised representative from the carrier’s monitoring panel defaulted on dues payment of 960,000 rupees ($11,760.38) plus 10% interest, CNBC-TV18 …

City officials seize four aircraft of India’s Jet Airways, CNBC-TV18 reports Read More »

By Nimesh Vora MUMBAI (Reuters) – Indian importers last week took advantage of the rupee’s recovery against the dollar to hedge their future foreign currency obligations, data showed. Average dollar purchases by importers, beyond the spot date, rose to $1.64 billion last week from $1.14 billion the week before, latest data collated by The Clearing …

Indian importers use rupee’s recovery to increase hedging, data shows Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India is likely to produce 34.3 million tonnes of sugar in 2022/23, down 4% from the previous forecast, after sugar cane yields in key producing states were hit by adverse weather, a senior industry official told Reuters on Tuesday. Lower sugar output could limit exports from the world’s second-biggest …

Adverse weather hits Indian cane crop and curtails sugar output Read More »

BENGALURU (Reuters) – India’s Network18 Media & Investments reported a third-quarter loss on Tuesday, as the billionaire Mukesh Ambani-backed conglomerate splurged to push up its share of television viewership, while advertisers pulled back on spending. Network18 posted a consolidated loss of 76.8 million rupees ($938,875.31) in the quarter ended Dec. 31, compared to a profit …

India’s Network18 posts quarterly loss on expenses, ad slowdown Read More »

By Siddhi Nayak MUMBAI (Reuters) – Rising home prices and rentals in large Indian cities could pose a new challenge to the country’s central bank in its fight against inflation, even though headline consumer price rises have likely peaked, analysts warn. Housing rentals and ancillary costs have a 10.07% weightage in India’s consumer price inflation …

Analysis: India’s rising home prices, rentals a new inflation threat Read More »

By Nikunj Ohri (Reuters) – India is considering lowering rates under its voluntary income tax framework and could introduce revised slabs in the upcoming federal budget due on February 1, two government sources told Reuters on Tuesday. A final decision would be taken by the Prime Minister’s Office, both the sources, who did not want …

India planning rate changes in new income tax structure – sources Read More »

By Rama Venkat BENGALURU (Reuters) – Indian shares extended gains on Tuesday, lifted by consumer stocks after data showed domestic inflation was easing and oil refiners rose on the government’s cut on a windfall tax on crude oil. The Nifty 50 index was up 0.68% at 18,017.15 as of 10:38 a.m. IST, while the S&P …

Indian shares extend gains as consumer, oil refiners climb Read More »