BENGALURU (Reuters) – Zydus Lifesciences on Friday reported an 82.6% slump in second-quarter profit hit by rising expenses, sending its shares down 1.5%. Consolidated profit for the three months ended Sept. 30 was 5.23 billion Indian rupees ($64.69 million), compared with 30.02 billion rupees a year ago, the company said in an exchange filing. Analysts …
India’s Zydus Lifesciences Q2 profit plunges on rising costs Read More »
By Indradip Ghosh and Vivek Mishra BENGALURU (Reuters) – The benchmark 10-year Indian government bond yield may have already peaked, according to market strategists who say the Reserve Bank of India’s impending shift away from tackling inflation back to supporting the economy is not far off. While India’s government debt markets have remained relatively calm …
India 10-year bond yields likely already peaked – strategists Read More »
MUMBAI (Reuters) – Rating agency Moody’s cut India’s growth projections for the current and next calendar year due to higher inflation, high interest rates and slowing global growth that, it believes, will dampen economic momentum more than it had expected. Moody’s said it now expects India’s GDP growth to slow to 7% in 2022 –– …
Moody’s cuts India’s 2022 GDP growth forecast to 7%, sees 2023 growth at 4.8% Read More »
By Nimesh Vora MUMBAI (Reuters) – The difference between the USD/INR onshore and the non-deliverable forward rates has narrowed on the back of the Indian rupee’s rally to its highest in seven weeks. The 1-year USD/INR non-deliverable forward (NDF) rate is now about 40 paisa higher than the corresponding onshore rate. This difference had climbed …
Indian rupee’s recovery narrows onshore-offshore differential Read More »
(Correct syntax in second-last paragraph) By Dharamraj Dhutia MUMBAI (Reuters) – The supply of Indian corporate bonds could rise going ahead, but their narrow spread with government bond yields currently makes them a comparatively unattractive investment, a fund manager from IDFC Asset Management Co said on Friday. “We believe that while the absolute levels offer …
Indian govt debt preferable to corp bonds given narrow spread – IDFC AMC’s Kaul Read More »
BENGALURU (Reuters) -Indian automaker Mahindra and Mahindra reported a better-than-expected second-quarter profit on Friday, driven by strong demand for its passenger vehicles and farm equipment. The company posted a sharp 46% jump in profit as total vehicles sold soared 75% from a year ago to 174,098 units, while it had open bookings for more than …
India’s Mahindra and Mahindra reports Q2 beat on strong demand Read More »
BENGALURU (Reuters) -Shares of Zomato Ltd jumped as much as 13% on Friday, a day after the Indian food delivery firm reported a smaller quarterly loss helped by a rise in volumes and order value. Net loss narrowed to 2.51 billion rupees ($30.73 million) in the July-September quarter from 4.30 billion rupees a year earlier. …
India’s Zomato surges 13% on smaller quarterly loss Read More »
By Ira Dugal MUMBAI (Reuters) – India’s first sovereign green bond will attract a mix of local and global buyers but the former may dominate as currency risks could keep foreign investor interest in check, according to bankers. “We expect both domestic investors and international investors to be interested in this issue, including existing foreign …
India’s first green bond to attract mix of local, foreign buyers – bankers Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks jumped, the dollar slid and Treasury yields dropped on Thursday as cooler-than-expected inflation data suggested the Federal Reserve’s barrage of interest rate hikes are beginning to have their intended effect. All three major U.S. stock indexes took off from the starting gate, with the S&P 500 …
Wall St surges, dollar tumbles as easing inflation fuels Fed abatement hopes Read More »
By Brijesh Patel (Reuters) – Gold prices rallied over 2% on Thursday to a more than two-month high as data showed U.S. inflation cooled off a bit in October, lifting hopes that the Federal Reserve would adopt a less aggressive approach to rate hikes. The U.S. consumer price index (CPI) rose 0.4% last month after …
Gold soars over 2% as U.S. inflation data cements Fed slowdown bets Read More »
