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India plans to relax wheat procurement norms to replenish stocks

3 Apr 2023

By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) – India has been planning to relax norms to procure wheat from farmers amid untimely rainfall and hail which damaged the crop just before harvesting in key producing central and northern states, government officials and traders told Reuters. The world’s second biggest wheat producer plans to …

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India’s Marico signals stronger margins as commodity costs fall

3 Apr 2023

BENGALURU (Reuters) – India’s Marico Ltd forecast stronger margins for the fourth quarter on Monday, as consumer goods companies see some benefit from easing commodity costs and a possible recovery in rural demand. Marico, which owns the popular Parachute and Saffola oil brands, said gross margin was expected to expand and “drive reasonable growth” as …

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Reliance’s JioCinema clocks record 1.47 billion digital views in first IPL weekend

3 Apr 2023

BENGALURU (Reuters) – The broadcasting joint venture of Indian conglomerate Reliance Industries said on Monday its JioCinema app saw a record 1.47 billion digital video views on the opening weekend of the Indian Premier League (IPL) cricket tournament, as well as 50 million mobile app downloads. The number of video viewers for the IPL weekend …

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Analysis-India’s surging services exports may shield economy from external risks

3 Apr 2023

By Siddhi Nayak and Shivangi Acharya MUMBAI/NEW DELHI (Reuters) – A surge in India’s services exports, which hit a record high in the October-December quarter, is expected to shield the economy from external risks as a slowing global economy will likely weigh on the country’s merchandise exports. Service exports are no longer being driven by …

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India’s Gandhi appeals defamation conviction with hearing set for April 13

3 Apr 2023

By Sumit Khanna SURAT, India (Reuters) – Indian opposition leader Rahul Gandhi appealed against his conviction for defamation on Monday, seeking to overturn a judgment that resulted in his expulsion from parliament a year before a general election is due. Gandhi, 52, was convicted last month in a case brought by a state lawmaker from …

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India bond yields seen rising tracking oil prices; H1 borrowing plan weighs

3 Apr 2023

By Dharamraj Dhutia MUMBAI (Reuters) – Indian government bond yields are expected to rise in the first trading session of the new financial year, tracking a spike in oil prices, while the government’s borrowing plans for April-September weigh on sentiment. The 10-year benchmark 7.26% 2032 bond yield is expected to be in a 7.33%-7.38% range …

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Rahul Gandhi to appeal jail sentence

2 Apr 2023

MUMBAI (Reuters) – Indian opposition leader Rahul Gandhi will appeal a two-year jail sentence in a defamation case brought against him by lawmaker from Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP), local media reported on Sunday. Gandhi, the 52-year-old scion of the Nehru-Gandhi political dynasty and leader of the Congress party, was found guilty …

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