MUMBAI (Reuters) – India’s economy is expected to grow 5.5% in the next financial year, a notch below the expected potential rate of 6%, as growth momentum in the country was slowing gradually, an economist at HSBC said on Thursday. The Indian economy grew 8.7% in year ended March 2022, and is expected to grow …
India’s FY24 growth to dip to 5.5% from 6.8% in FY23 – HSBC economist Read More »
CHENNAI (Reuters) -India’s Godrej Consumer Products on Thursday forecast higher third-quarter sales growth and profit margins due to strong demand for its home and personal care products and a let-up in input costs. The maker of Cinthol soaps and Goodknight mosquito repellents expects sales on a constant currency basis to increase in the mid-teens percentage …
India’s Godrej Consumer Products sees Q3 sales up on personal, home care demand Read More »
BENGALURU (Reuters) -Shares of Bajaj Finance fell as much as 8.3% on Thursday, a day after the Indian shadow lender reported moderate growth in new loans and assets under management (AUM) during the third quarter. New loans booked in the quarter ended Dec. 31 were up 5.4% year-on-year, against a 7.9% increase in the second …
India’s Bajaj Finance falls over 8% as loan growth moderates in Q3 Read More »
By Seher Dareen (Reuters) – Gold held near seven-month highs reached on Wednesday after the minutes of the Federal Reserve’s last meeting showed all its policymakers remained committed to fighting inflation, but agreed on the need to slow rate hikes in 2023. Spot gold rose 0.7% to $1,851.41 per ounce by 2:48 p.m. ET (1948 …
Gold hovers near mid-June highs after Fed minutes Read More »
By M. Sriram MUMBAI (Reuters) – India’s Nexus Venture Partners is in advanced talks to raise a $700 million fund, the second-biggest such pool to be garnered in the country in the past year, to invest in domestic and U.S.-based technology firms, two sources with direct knowledge said. The planned fund raising, which one of …
By Sarita Chaganti Singh NEW DELHI (Reuters) -India has approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen in a bid to cut emissions and become a major exporter in the field, the information minister said on Wednesday. The move is targeted to help India, one of the world’s biggest …
India OKs $2 billion incentive plan for green hydrogen industry Read More »
BENGALURU (Reuters) -Mahindra and Mahindra Financial Services said on Wednesday the Reserve Bank of India lifted curbs placed on the company last year that prevented it from using third-party services for loan recovery. The RBI’s decision follows the company’s pledge to strengthen its recovery practices, outsourcing arrangements and the process of onboarding third-party agents, the …
RBI lifts curbs on Mahindra unit’s use of third party for loan recovery Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator said on Tuesday, paving the way for companies to recover losses resulting from a government order last year. In May, India invoked an emergency clause in the …
Indian coal power plants should be compensated for 2022 forced generation – regulator Read More »
By Arpan Chaturvedi NEW DELHI (Reuters) -An Indian tribunal on Wednesday declined a request by Google to block an antitrust ruling that ordered the tech giant to change its approach to its Android platform, dealing the U.S. firm a setback in a key growth market. In October, the Competition Commission of India (CCI) fined Alphabet …
India tribunal declines Google’s request to block Android antitrust ruling Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was trading marginally higher against the dollar on Wednesday tracking an overnight slide in oil prices. The rupee was quoting at 82.8375 to the dollar by 10:36 a.m. IST, up from 82.88 in the previous session. The fall in oil prices probably just delays what we …
Relief from oil prices helps rupee inch up, outlook remains weak Read More »
