Reuters India Business

By Nidhi Verma NEW DELHI (Reuters) – India’s Russian oil imports rose a nine-month high in April after shipments on non-sanctioned tankers operated by Russia’s largest shipping company Sovcomflot resumed, tanker data obtained from shipping and trade sources showed. Refiners in India briefly stopped importing Russian oil in tankers belonging to Sovcomflot after the company’s …

India’s Russian oil imports rise to nine-month high in April Read More »

NEW DELHI (Reuters) – India has reaffirmed restrictions on the import of unregistered or non-compliant electronics products, an order that has been in place since 2021, according to a government order dated Monday. “There is no implication of this notification. The import policy for these categories in question were restricted anyway, so its status quo,” …

India reaffirms restrictions on import of non-compliant electronics Read More »

BENGALURU (Reuters) – Steel Authority of India reported a nearly 3% fall in fourth-quarter profit on Monday, hurt by softer steel prices and higher costs. The state-owned firm’s consolidated net profit for the quarter ended March 31 declined to 11.26 billion rupees ($135.22 million) from 11.59 billion rupees a year earlier. Input costs rose about …

India’s SAIL posts drop in Q4 profit on softer steel prices, higher costs Read More »

BENGALURU (Reuters) – Appliances maker Whirlpool of India reported a smaller-than-expected fourth-quarter profit on Monday, hurt by stiff competition and higher input costs, while demand remained steady for its cooling appliances. Consolidated net profit rose nearly 24% to 775.9 million rupees ($9.3 million) in the three months ended March 31, missing analysts’ estimates of 899.6 …

Whirlpool’s India arm misses Q4 profit view on stiff competition, higher input costs Read More »

BENGALURU (Reuters) – India’s currency, debt and equity markets will be closed on Monday, May 20, for a holiday. Trading will resume on Tuesday, May 21. The blue-chip NSE Nifty 50 rose 0.16% to 22,502 points and the S&P BSE Sensex added 0.12% to end at 74,005.94 on Saturday, in a special trading session to …

Indian financial markets closed on May 20 Read More »

By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) – Indian shares were little changed in a special session conducted on Saturday for stock exchanges to test a failsafe system for equity trading. Indian equities traded in two special sessions from 9:15 a.m. to 10 a.m. (0345-0430 GMT) from a primary site, and then from 11:30 …

Indian shares muted in special Saturday session Read More »

MUMBAI (Reuters) – Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday. The motion called for the royalty paid to its parent to climb to 5.25% of net sales, net of taxes, compared to the current level of 4.5%. The …

Nestle India shareholders vote against increase in royalty to Swiss parent Read More »