By Harshit Verma (Reuters) – Gold prices, aided by China’s stimulus measures, looked poised to clock their second consecutive weekly gain on Friday on renewed hopes for U.S. interest rate cuts, with silver breaking the $30 barrier to hit an 11-year high. Spot gold rose 1.5% to $2,412.83 per ounce by 1745 GMT, closing in …
China stimulus, US rate cut bets lift gold, silver soars above $30 mark Read More »
BENGALURU (Reuters) – Indian real estate developer Sobha reported a near 86% tumble in fourth-quarter profit on Friday, hurt by weak sales in its mainstay Bengaluru market. Overall housing sales in Bengaluru dipped 2% during the January-March period, in contrast to other top seven cities, a report by real estate consultancy firm Knight Frank showed. …
Indian realty developer Sobha’s fourth-quarter profit slumps on weak Bengaluru sales Read More »
By Sumit Khanna AHMEDABAD (Reuters) – An Indian spice trade group said on Friday that spice exports could drop by 40% after two major brands were hit with contamination allegations over the use of a pesticide the group considers safe but others say causes cancer in the event of long-term exposure. India is the world’s …
Indian spice trade group fears plunge in exports due to ETO pesticide scrutiny Read More »
MUMBAI (Reuters) – The Reserve Bank of India (RBI) has seen “several” supervisory concerns in the functioning of asset reconstruction companies (ARCs), a deputy governor at the central bank said on Friday, urging such firms to adopt appropriate risk management strategies. Swaminathan J urged ARCs to adopt an approach where there is compliance “with both …
India cenbank deputy flags concerns over asset recast cos’ functioning Read More »
BENGALURU (Reuters) – Logistics firm Delhivery posted a narrower loss on Friday, aided by improved volume growth in its supply chain and truckload services. The company reported a consolidated loss of 684.7 million rupees ($8.21 million) for the quarter ended March 31, compared with a loss of 1.59 billion rupees a year ago. This however …
India’s Delhivery posts narrower fourth-quarter loss Read More »
BENGALURU(Reuters) -India’s Zee Entertainment Enterprises reported a quarterly profit on Friday, compared with a loss a year earlier, helped by strong demand for advertising and a fall in expenses. The company posted a profit of 133.5 million rupees ($1.60 million) from a year-ago loss of 1.96 billion rupees. Domestic advertising revenue for the quarter rose …
India’s Zee Entertainment reports Q4 profit as advertising demand picks up Read More »
By Dimpal Gulwani and Bharath Rajeswaran BENGALURU (Reuters) -India’s blue-chip stock indexes logged their best week since early February on Friday, led by metal stocks, while sustained domestic buying cushioned persistent foreign outflows. Both the NSE Nifty 50 and S&P BSE Sensex gained about 2% this week, their best since the week ended Feb. 2. …
Indian blue-chips post best week in over 3 months led by metals Read More »
NEW DELHI (Reuters) – India’s rise in trade with Russia should not be seen as a “temporary phenomenon” as more economic opportunities are emerging, India’s foreign minister said on Friday. India and Russia have a close relationship stretching back decades, and New Delhi has refused to condemn Moscow over its February 2022 invasion of Ukraine, …
India’s spike in trade with Russia not a ‘temporary phenomenon’, minister says Read More »
NEW DELHI (Reuters) – Steel Authority of India is keenly watching Chinese imports after the United States raised tariffs on shipments from Beijing, its chairman Amarendu Prakash said on Friday. U.S. President Joe Biden earlier this week unveiled steep tariff increases on an array of Chinese imports, including steel, leading Indian mills to fear that …
India’s SAIL keenly watching Chinese steel imports post US tariff hikes, says chairman Read More »
BENGALURU (Reuters) – Shares of Indian automaker Mahindra & Mahindra rose as much as 8% to a record high on Friday, its biggest intraday jump in over three years, on a strong growth outlook after its fourth-quarter results beat expectations. Mahindra’s shares were trading 6.3% higher at 2,520 rupees, after seeing its biggest intraday percentage …
India’s Mahindra & Mahindra jumps most in over three years on strong growth outlook Read More »
