By Anushree Ashish Mukherjee (Reuters) – Gold prices scaled a one-week peak on Friday as an escalation in the Middle East conflict fuelled safe-haven buying, while softer U.S. producer price inflation boosted bets that the Federal Reserve might cut interest rates sooner. Spot gold was up 1% at $2,048.21 per ounce at 2:24 p.m. ET …
Gold rallies on Middle East tensions, Fed rate-cut bets Read More »
BENGALURU (Reuters) -India’s Tata Consumer Products will buy Capital Foods for an enterprise value of 51 billion rupees ($615.95 million), it said in an exchange filing on Friday. The company will initially buy a 75% stake in Capital Foods, which manufactures packaged food and condiments such as chutney, sauces and noodles under their “Ching’s Secret” …
India’s Tata Consumer Products to buy Capital Foods for $616 million Read More »
BENGALURU (Reuters) – India’s proposals for same-day settlement of securities trades will be costly for offshore funds and could fragment the market, according to a lobby group for the funds. The Securities and Exchange Board of India (SEBI) last month proposed a phased rollout of optional same-day settlement and sought views from the public before …
Offshore funds raise concerns over India’s same-day trade settlement plan Read More »
By Sai Ishwarbharath B and Nandan Mandayam BENGALURU (Reuters) -Wipro, India’s No.4 software-services exporter, reported better-than-expected revenue in the seasonally weak third quarter and highlighted early signs of a return to growth in client demand for its consulting services. The results led Wipro’s ADRs up 3.5% in pre-market trading, following signals from larger rivals Tata …
India’s Wipro beats Q3 revenue estimates; sees growth in consulting Read More »
By Haripriya Suresh BENGALURU (Reuters) -HCLTech, India’s third-largest IT services provider, sees no change in demand sentiment, its chief executive said on Friday after the company trimmed the top end of its full-year revenue forecast. Throughout last year, Indian IT companies have struggled as clients held back discretionary spending, preferring cost-oriented deals over growth-oriented ones. …
India’s HCLTech trims full-year revenue forecast, says demand unchanged Read More »
By Nikunj Ohri and Sarita Chaganti Singh NEW DELHI (Reuters) – India has extended the tenure of central bank deputy governor Michael Patra by a year to the beginning of 2025, according to a government document seen by Reuters. Patra is a career central banker, and was first appointed as deputy governor of the Reserve …
India extends central bank deputy governor Patra’s tenure by one year Read More »
By Nikunj Ohri NEW DELHI (Reuters) -India’s annual retail inflation rose at the fastest pace in four months in December, driven by a rise in prices of some food items, raising expectations that the central bank will stay away from interest rate cuts for some time. Annual retail inflation rose to 5.69% in December from …
India’s retail inflation rises to four-month high in December on higher food prices Read More »
NEW DELHI (Reuters) – India’s industrial output rose 2.4% year on year in November, its weakest pace in eight months, data from the Ministry of Statistics showed on Friday, after manufacturing growth slowed. The figure lags a 4% growth forecast by analysts in a Reuters poll, and a 7.6% output same month last year. Output …
India’s Nov industrial output growth slows to 2.4% y/y Read More »
(Reuters) -India’s annual retail inflation rose to 5.69% in December from 5.55% the previous month, government data showed on Friday. A Reuters poll of 56 economists had forecast a rate of 5.87%. COMMENTARY: DEVENDRA PANT, CHIEF ECONOMIST, INDIA RATINGS AND RESEARCH, GURUGRAM “Core inflation has declined to 48-month low of 3.89% in December 2023. Declining …
India’s retail inflation rose to 5.69% in December Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – Jindal Power has proposed to top a bid by Adani Power, led by billionaire Gautam Adani, for a thermal power plant, two sources with direct knowledge of the matter said, as India looks to drum up investment in coal-fired power. The tussle for the 1,980-megawatt plant in …
India’s Jindal Power proposes to top Adani’s bid for coal-power plant -sources Read More »
