SINGAPORE (Reuters) – Indian Oil Corp, the country’s largest refiner, has bought 4 million barrels of U.S. West Texas Intermediate crude via a tender for January delivery, trade sources said on Friday. Occidental and Mitsui sold 2 million barrels of WTI each at about $3 a barrel above dated Brent on cost and freight basis, …
India’s IOC buys U.S. WTI crude for January delivery Read More »
By Haripriya Suresh BENGALURU (Reuters) – Indian educational technology company Eruditus has raised $150 million in a new funding round led by private equity firm TPG, at a time when the funding environment for edtech companies has been subdued. Eruditus’ Series F round, which also saw the participation of existing backers Softbank, Leeds Illuminate, Accel, …
India’s Eruditus raises $150 million in TPG-led funding round Read More »
By Anushree Mukherjee (Reuters) – Gold prices hit record highs on Thursday as uncertainty surrounding the U.S. presidential elections and the war in the Middle East prompted investors to seek out the safe-haven asset, while easing monetary policy environment kept prices elevated. Spot gold rose 0.7% to $2,690.60 per ounce by 1:42 p.m. ET (1742 …
Gold hits record highs on US election uncertainty, more policy easing Read More »
(Reuters) – Mothercare formed a joint venture with Reliance Brands Holding UK, strengthening its presence in the South Asian region, and said it refinanced its existing debt facilities with Gordon Brothers. Reliance Brands, a unit of Reliance Industries Ltd, acquired a 51% stake in the JV that owns the Mothercare brand and related intellectual property …
UK’s Mothercare partners with Reliance to strengthen South Asia presence Read More »
LONDON (Reuters) – Swiss gold exports fell in September to the lowest level since June owing to reduced shipments to India, customs data from the world’s biggest bullion refining and transit hub showed on Thursday. This year’s 30% gold price rally, which took spot prices to a record high of $2,696.59 per troy ounce on …
Swiss gold exports fall on lower supplies to India Read More »
By Swati Bhat and Siddhi Nayak MUMBAI (Reuters) -India’s central bank barred four non-bank finance companies (NBFCs) from sanctioning and disbursing loans due to “usurious” pricing and for charging a significant mark-up over their funding costs, it said in a release on Thursday. The restrictions on Asirvad Micro Finance, Arohan Financial Services, DMI Finance and …
India cenbank bars four non-banks from fresh lending for breaching norms Read More »
By Nishit Navin BENGALURU (Reuters) – India’s Axis Bank reported a higher-than-expected second-quarter profit on Thursday, helped by an increase in core lending income. The country’s fourth-largest private lender by market value said its standalone net profit, which excludes its subsidiaries, rose 18% to 69.18 billion rupees ($823.25 million) for the quarter ended Sept. 30. …
India’s Axis Bank posts Q2 profit beat on strong credit demand Read More »
By VarunVyas Hebbalalu, Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) -Indian software services providers Infosys and Wipro issued revenue forecasts below analysts’ expectations, suggesting a broad-based recovery in global tech spending was yet to take hold. U.S.-listed shares of Infosys, which have gained more than 35% in the past six months, fell 2.5% as …
Infosys, Wipro revenue forecasts fail to impress investors Read More »
(Reuters) – Indian tyre maker CEAT reported second-quarter profit below market estimates on Thursday, weighed by higher rubber costs and muted demand. The company posted a profit of 1.22 billion rupees ($14.5 mln) for the quarter ended Sept. 30, compared to 2.08 billion rupees a year ago. Analysts were expecting a profit of 1.38 billion …
India’s CEAT misses Q2 profit estimates on high raw material prices, weak demand Read More »
By Munsif Vengattil, Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – Having just lost a battle with Elon Musk over how India’s satellite spectrum is awarded, Asia’s richest man Mukesh Ambani could face a bigger challenge if Musk’s Starlink launches services in India and the two go head-to-head on price. India’s government said on …
Musk’s win on India satellite spectrum raises prospect of price war with Ambani Read More »
