By Anjana Anil and Deep Kaushik Vakil (Reuters) – Gold held steady on Friday after swinging up and down a percentage point on mixed U.S. economic data, but bullion eyed its first weekly decline in four weeks on an overall stronger dollar and higher Treasury yields. Spot gold rose 0.1% to $2,044.21 per ounce by …
Gold set for weekly decline as dollar, yields climb Read More »
By Manoj Kumar NEW DELHI (Reuters) -India forecast annual growth of 7.3% in the fiscal year ending in March, the highest rate of any of the major global economies, providing a boost for Prime Minister Narendra Modi ahead of the national elections scheduled to be held before May. “These are early projections for 2023/24,” the …
India forecasts 7.3% 2023/24 economic growth, boosting Modi’s election chances Read More »
BENGALURU (Reuters) – Indian jeweller and watchmaker Titan Co Ltd said on Friday it registered a revenue growth of 22% year-on-year in the third quarter ended Dec. 31 as it saw double-digit growth in its jewellery business. Titan’s jewellery business alone had accounted for more than 85% of total income in the September quarter. The …
India’s Titan posts strong growth in jewellery segment in Q3 Read More »
(Reuters) – India’s market regulator said on Friday that institutional investors will have to disclose upfront whether a transaction in Indian securities involves short selling, while retail investors will have to do so by the end of the day when a trade is made. Securities and Exchange Board of India (SEBI) said in a circular …
Indian regulator to require short selling details from investors Read More »
BENGALURU (Reuters) -Indian consumer companies Marico and Adani Wilmar on Friday said revenue in the third quarter ended Dec. 31 fell from a year ago due to lower demand and selling prices. While Marico said its revenue declined in the low single digits on weaker rural demand, Adani Wilmar said its revenue fell 15%, impacted …
India’s Marico, Adani Wilmar say Q3 revenue down on lower demand, prices Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s Gujarat International Finance Tec-City, or GIFT City, has given approval to billionaire Azim Premji’s wealth fund to set up a family investment fund in the financial hub, two sources with direct knowledge of the matter said. Prime Minister Narendra Modi has been looking to revive this decade-old …
India’s new finance hub gives nod to Azim Premji’s fund to invest overseas Read More »
By Shivangi Acharya NEW DELHI (Reuters) – India’s defence ministry is providing protective escorts to Indian container ships in the high seas around the Red Sea as the security situation there continues to simmer, a government source said on Friday. Containers could face delays of 14 days in their turnaround time due to taking a …
India providing security escort for container ships around Red Sea-govt source Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves rose for a seventh straight week and stood at a near 22-month high of $623.20 billion as of Dec. 29, data from the central bank showed on Friday. The reserves rose by $2.76 billion for the reported week after increasing by a total of $30.12 billion in the …
India’s forex reserves rise for seventh week, hit near 22-month high Read More »
BENGALURU (Reuters) – Indian digital payments firm MobiKwik, backed by Abu Dhabi Investment Authority and Bajaj Finance, has filed for an initial public offering (IPO) worth up to 7 billion rupees ($84 million), about 63% less than its first attempt in 2021. The company, founded over a decade ago, had filed for a 19 billion …
Indian payments firm MobiKwik files for smaller $84 million IPO Read More »
By Nikunj Ohri NEW DELHI (Reuters) – India could set a target for divestment from state firms in fiscal 2024/25 that falls short of this year’s goal to stand at the lowest in nine years, as the government turns its focus to general elections due next year, a senior official said. The government official, who …
India’s divestment target in 2024/25 could be its lowest in nine years -source Read More »
