The Reserve Bank of India may announce a dollar-rupee buy-sell swap auction of up to $10 billion later on Thursday, five foreign exchange dealers said. The central bank may conduct the auction for a period of three years, as has been the case in recent such liquidity operations, the dealers said.
The RBI has been active across the curve in the secondary today,” a dealer at a private sector bank said. “There is a strong sense in the market that he may do a $10 billion buy-sell swap soon, maybe announce it after market hours.
Dealers said the RBI aims to limit the surge in forward premiums wi
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Automobile and ancillary companies that are a part of the Nifty 200 index posted a mid-single digit revenue growth and a 28% fall in net profit for the December quarter, mainly due to Tata Motors Passenger Vehicles Ltd., which continued to reel from the cyber-attack on its UK-based subsidiary, Jaguar Land Rover. Excluding the Sierra-maker, the revenue of the remaining 14 companies grew 21% on year, in line with earnings estimates for the group and profit rose 19%, below estimates. These 14 companies' net profit, excluding one-time items, rose 28% on year, a touch below estimates.
The 15 aut
The 15 aut
India and Finland are entering into a strategic partnership in digitisation and sustainability that will deepen cooperation in advanced technology and various critical sectors, Prime Minister Narendra Modi said here Thursday.
This partnership will boost cooperation in high-tech fields of artificial intelligence, 6G telecom, clean energy and quantum computing,” Modi said at a joint press briefing with visiting Finland President Alexander Stubb.
This partnership will extend to key sectors of defence, space, semiconductors and critical minerals, Modi added.
This partnership will boost cooperation in high-tech fields of artificial intelligence, 6G telecom, clean energy and quantum computing,” Modi said at a joint press briefing with visiting Finland President Alexander Stubb.
This partnership will extend to key sectors of defence, space, semiconductors and critical minerals, Modi added.
Prices of chana are expected to fall in the near term, while those of tur and urad are expected to be range-bound, the India Pulses and Grains Association said in its weekly report Monday. Chana prices could be weighed down by low demand and ample supply, the association said. Tur and urad prices could be range-bound amid steady supply and some need-based demand, it said.
Chana prices are expected to remain under pressure in the short term amid sluggish demand and ample availability, the association said. Demand for chana dal, or processed chana, and besan remains low, while millers are maki
Chana prices are expected to remain under pressure in the short term amid sluggish demand and ample availability, the association said. Demand for chana dal, or processed chana, and besan remains low, while millers are maki
Bajaj Auto Ltd. sold 448,259 automobiles to dealerships in India and overseas in February, up 27% on year, marking the fastest growth in the last 27 months. The growth was strong in domestic and overseas markets and for two-wheelers and commercial vehicles, according to the company's exchange filing Monday.
Bajaj Auto sold 232,581 automobiles in India in February, up 27% on year but down 11% on month. Its exports stood at 215,678 units in February, up 28% on year but flat on month.
Two-wheeler sales of the Chetak-maker climbed 27% on year to 379,921 units. Domestic sales grew 27% on year bu
Bajaj Auto sold 232,581 automobiles in India in February, up 27% on year but down 11% on month. Its exports stood at 215,678 units in February, up 28% on year but flat on month.
Two-wheeler sales of the Chetak-maker climbed 27% on year to 379,921 units. Domestic sales grew 27% on year bu
India’s first overhaul of its national accounts in over a decade has sprung a few shocks and surprises, but it underpinned that growth remains buoyant and is now more stable. While the new GDP data strengthens the growth outlook for the Indian economy, it has complicated the government’s fiscal math.
The statistics ministry Friday released the new GDP series with 2022–23 (Apr-Mar) as the base year, replacing FY12. Data based on the new series showed that India’s GDP grew faster than expected in the December quarter at 7.8%, driven by strong consumption on the back of cuts in the goods and se
The statistics ministry Friday released the new GDP series with 2022–23 (Apr-Mar) as the base year, replacing FY12. Data based on the new series showed that India’s GDP grew faster than expected in the December quarter at 7.8%, driven by strong consumption on the back of cuts in the goods and se
Finance Minister Nirmala Sitharaman Monday said that the government does not have any roadmap for mergers of certain public sector banks. However, the committee proposed in the Budget for 2026-27 (Apr-Mar) will look into the topic, she said. "I'm not familiar with any roadmap...there isn't one," Sitharaman said in a press conference after the board meeting of the Reserve Bank of India.
Bank consolidation was not a subject here, nor was it a subject before the Budget, but the Committee which is now being appointed, once the terms of reference are given they will look into every aspect of how
Bank consolidation was not a subject here, nor was it a subject before the Budget, but the Committee which is now being appointed, once the terms of reference are given they will look into every aspect of how
Gold futures contracts opened higher on the Multi Commodity Exchange on Monday due to global trade uncertainty and rising safe haven demand because of rising tensions between the US and Iran. The most-traded April gold futures contract opened at INR 158,458 per 10 grams, up 1% from the previous close of INR 156,876 per 10 grams.
Renewed global trade tensions and heightened economic uncertainty spurred safe-haven demand for the precious metal, analysts said. The US Supreme Court on Friday struck down many of US President Donald Trump's "reciprocal" tariffs, which were invoked based on the Int
Renewed global trade tensions and heightened economic uncertainty spurred safe-haven demand for the precious metal, analysts said. The US Supreme Court on Friday struck down many of US President Donald Trump's "reciprocal" tariffs, which were invoked based on the Int
Finance Minister Nirmala Sitharaman said Monday that gold demand in India has not reached alarming proportions. Gold demand and prices in India were capped at a level, she said at a press conference after addressing the central board of the Reserve Bank of India.
Gold has always been a favoured investment for households, whether as an asset class or for jewellery,” she said. “So, high-pitched demand for domestic consumption also sees a seasonal spike during festival season, during Akshay Tritiya and so on. We are watching it, but I am not sure it has reached such alarming proportions, given
Gold has always been a favoured investment for households, whether as an asset class or for jewellery,” she said. “So, high-pitched demand for domestic consumption also sees a seasonal spike during festival season, during Akshay Tritiya and so on. We are watching it, but I am not sure it has reached such alarming proportions, given