By Joseph White and Christoph Steitz MUNICH (Reuters) – Volkswagen is in concrete talks about partnering up on passenger car production in India, the group’s finance chief said on Thursday, adding it was tough to earn money in the market that still presents a “clear” opportunity. “We are in very good discussions,” Arno Antlitz told …
Volkswagen CFO: in concrete discussions over car partnerships in India Read More »
By Bharath Rajeswaran and Dimpal Gulwani BENGALURU (Reuters) -India’s blue-chip indexes notched all-time closing highs on Thursday, powered by gains in financial stocks, as the central bank’s record dividend to the government kindled hopes of a reduction in the country’s fiscal deficit. The blue-chip NSE Nifty 50 gained 1.64% to close at a record 22,967.65. …
Financials power India’s Nifty, Sensex to record closing highs Read More »
BENGALURU (Reuters) -Indian consumer goods maker ITC reported fourth-quarter profit below expectations on Thursday amid increasing competition from smaller rivals for shelf space, which dented demand. Consumer goods makers including Hindustan Unilever and ITC have indicated that easing prices of some ingredients has encouraged regional rivals, which typically offer products at cheaper prices, to return …
India’s ITC misses Q4 profit estimates on tighter competition, weak demand Read More »
MOSCOW (Reuters) – India and Egypt were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in April, traders said and LSEG data showed. In total, Russian fuel oil and VGO seaborne exports fell in April by 10% month-on-month to about 3.32 million tons, as refining capacity idled due to maintenance, …
By Anant Chandak BENGALURU (Reuters) – Business activity in India expanded robustly in May, helped by the dominant services industry, according to a survey that also showed exports rising at a record pace and the sharpest job addition rate in nearly 18 years. HSBC’s flash India Composite purchasing managers’ Index, compiled by S&P Global, rose …
India May business growth robust as exports rise at record pace, PMI shows Read More »
By Harshit Verma (Reuters) – Gold prices dipped over 1% on Wednesday as the gold rally cooled with investors booking profits, as traders pulled back from bets on Federal Reserve’s rate cuts this year. Spot gold fell 1.8% to $2,377.43 per ounce by 1858 GMT. Prices had scaled a record high of $2,449.89 on Monday. …
Gold prices dip after record highs on profit taking, rate cut bets cool Read More »
BENGALURU (Reuters) – Walt Disney has struck a deal to sell its stake in Tata Play, valuing Indian conglomerate Tata Group’s satellite TV provider at about $1 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter. The stake sale news comes as the U.S.-based media giant looks to focus on its merger …
Disney strikes deal to sell stake in India’s Tata Play, Bloomberg News reports Read More »
By Indranil Sarkar BENGALURU (Reuters) – Indian budget hotel aggregator Oyo has withdrawn its papers for an initial public offering (IPO), regulatory disclosures showed, the second time the company has pulled its flotation plans in nearly three years. The reason for the withdrawal was not immediately clear from the disclosure on the Securities and Exchange …
Softbank-backed Oyo withdraws IPO papers for second time Read More »
By Swati Bhat and Nikunj Ohri MUMBAI (Reuters) -The board of India’s central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts’ and government projections. The government had budgeted a dividend of 1.02 trillion rupees from the Reserve …
India central bank’s record dividend to government may reduce fiscal gap Read More »
By Navamya Ganesh Acharya BENGALURU (Reuters) -Jubilant FoodWorks reported a rise in fourth-quarter profit on Wednesday as the Domino’s Pizza franchisee benefited from a one-time gain and more stores openings. It reported profit before tax of 2.25 billion rupees ($27 million) for the quarter ended March 31, which included a one-time gain of 1.70 billion …
Domino’s India franchisee posts Q4 profit rise on one-time gain, store expansion Read More »
