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By Sarita Chaganti Singh and Manoj Kumar NEW DELHI (Reuters) -India’s August retail inflation remained below the central bank’s target of 4% for the second consecutive month, but vegetable prices continued to soar, dampening hopes of a dovish stance in the next monetary policy meeting. Annual retail inflation was at 3.65% in August, higher than …

India’s retail inflation stays below 4% for second consecutive month in August Read More »

By Tora Agarwala and Sudipto Ganguly GUWAHATI, India (Reuters) – More than 100 Rohingya Muslims from Myanmar including women and children have been on hunger strike since Monday to protest at their indefinite detention at a camp in northeastern India, authorities told Reuters. More than one million Rohingya refugees fled to countries including Bangladesh and …

Rohingya refugees in India on hunger strike over ‘prolonged’ detention Read More »

By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares marched higher on Thursday, led by metals and IT stocks, on heightened expectations of a rise in foreign inflows into domestic equities after U.S. inflation data firmed bets of a 25-basis-point Federal Reserve rate cut. The Nifty 50 index was up 0.51% at 25,045 points, while the …

Indian shares open higher led by metals, IT Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Thursday, holding above its lifetime low, supported by likely intervention from the Reserve Bank of India (RBI) amid weakness in most Asian currencies. The rupee was at 83.9725 against the U.S. dollar as of 10:20 a.m. IST, nearly unchanged from its close …

Rupee holds above record low on likely cenbank intervention Read More »

MUMBAI (Reuters) – The Indian central bank was likely selling U.S. dollars on Thursday to help the rupee hold above the key support level of 84, five traders told Reuters. The rupee was quoting at 83.97 per U.S. dollar compared to its close at 83.9775 in the previous session. The local currency had dipped to …

Indian central bank likely selling dollars to support rupee, traders say Read More »

By Mayank Bhardwaj NEW DELHI (Reuters) – India will buy soybeans from farmers of the central state of Madhya Pradesh at state-set support prices to help growers reeling from a crash in domestic rates for the oilseed, a government statement said on Wednesday. India uses soybeans to manufacture soyoil, which helps the country cut its …

India to buy soybeans to help farmers reeling from losses Read More »

BENGALURU (Reuters) – Abu Dhabi has awarded oil and gas production rights for an onshore block to a joint venture of Indian state-run refiners Bharat Petroleum Corp Ltd and Indian Oil Corp , BPCL said in a statement on Wednesday. The Supreme Council for Financial and Economic Affairs of Abu Dhabi has granted rights to …

Abu Dhabi gives onshore block production license to India’s IOC-BPCL JV Read More »

By Dimpal Gulwani and Bharath Rajeswaran BENGALURU (Reuters) – India’s Bajaj Housing Finance [BAJO.NS] attracted bids worth about $38.60 billion, or nearly 64 times the shares on offer, making it the most sought-after major public listing this year in a red-hot IPO market. The interest in the company’s public offer — the most this year …

Bajaj Housing Finance draws bids worth $39 billion in hottest India IPO this year Read More »

NEW DELHI (Reuters) – India will impose tariffs of between 12% and 30% on some steel products imported from China and Vietnam in a bid to safeguard and boost local industry, an Indian finance ministry order showed. Welded stainless steel pipes and tubes exported by China, the world’s largest producer of steel, and Vietnam, will …

India to impose up to 30% tariffs on some steel imports from China, Vietnam Read More »

By Arsheeya Bajwa NOIDA (Reuters) -NXP Semiconductors will invest over $1 billion in India, doubling its research and development efforts, the Dutch company’s CEO said on Wednesday, joining global names betting on a country looking to establish its presence in the industry. “NXP is committed to double its R&D efforts here in the country in …

NXP Semiconductors to invest more than $1 billion in India as it boosts R&D efforts Read More »