By Nupur Anand MUMBAI (Reuters) – Companies led by Asia’s richest man, Gautam Adani, and billionaire Mukesh Ambani, the owner of Reliance Industries have entered the fray to acquire India’s debt-laden Future Retail Ltd, a document seen by Reuters shows. April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group, …
Reliance group, Adani bid for India’s debt-ridden Future Retail Read More »
BENGALURU (Reuters) -Indian food delivery firm Zomato Ltd on Thursday reported a narrower loss for the second quarter thanks to a rise in volumes and value of online orders. Adjusted core loss, excluding figures for its recently acquired quick-commerce business Blinkit, narrowed to 600 million Indian rupees ($7.37 million) from 3.1 billion rupees. “We expect …
India’s Zomato posts smaller net loss as online orders jump Read More »
By Mohi Narayan NEW DELHI (Reuters) – Indian Oil Corp, the country’s top refiner, plans to resume operations at its Panipat naphtha cracker in northern India by Dec. 15, a company executive said on Thursday, after a scheduled turnaround that started in the last week of September. “After the annual turnaround, we plan to bring …
Indian Oil aims to restart naphtha cracker by mid-Dec Read More »
BENGALURU/NEW DELHI (Reuters) -An Indian court on Thursday sent an executive of spirits giant Pernod Ricard’s country unit and a director of local drugmaker Aurobindo Pharma Ltd to custody for a week in a probe related to the Delhi city government’s liquor policy. The court’s decision came hours after P. Sarath Chandra Reddy of Aurobindo Pharma …
Indian court sends Pernod Ricard exec, Aurobindo director to agency custody Read More »
By Neha Arora NEW DELHI (Reuters) -India’s JSW Steel Ltd expects its exports to fall to a more than five-year low at 10% of overall sales in the fiscal year to March 2023 because of reduced global demand and an export tax, a company executive said on Thursday. India’s largest steelmaker by capacity expects to …
India’s JSW Steel expects exports to hit over 5-year low Read More »
By Mohi Narayan NEW DELHI (Reuters) -India is in initial talks with the governments of other countries to export green hydrogen made in the South Asian nation, an official of its foreign ministry said on Thursday, even as challenges remain in adapting the clean-burning fuel. Green hydrogen, derived from renewable energy sources such as wind …
India in talks to export green hydrogen, official says Read More »
(Reuters) – India is facing a glut of liquefied natural gas (LNG) as industrial gas customers are buying less from LNG terminals due to high prices and are rushing to alternatives, Bloomberg News reported on Thursday, citing traders with knowledge of the matter. Storage tanks at Dahej and Hazira LNG import terminals in India are …
India faces LNG glut as high prices worry customers – Bloomberg News Read More »
By Nivedita Bhattacharjee and Gaurav Dogra BENGALURU (Reuters) – Almost two-thirds of the near 200 Indian companies with market capitalization of $100 million and more have reported a rise in profit for the September quarter, data tracked by Reuters showed Of the 191 companies tracked, 118 reported a rise in profit, Refinitiv data showed, with …
Q2 roundup: Indian cos get festive boost; almost 62% post profit rise Read More »
By Nupur Anand MUMBAI (Reuters) – Stocks of Indian lenders have rallied this year to touch a record high on Wednesday and analysts believe the party is likely to continue as banks issued robust earnings reports for the latest quarter. The Nifty public sector bank index has jumped about 50% so far this year and …
Indian bank stocks’ record rally to continue as balance sheets strengthen Read More »
BENGALURU (Reuters) -Shares of Tata Motors fell as much as 5.5% on Thursday, a day after the automaker reported second-quarter core earnings that at least three analysts said missed their estimates due to higher expenses. Tata Motors posted a narrowed net loss for the July-September quarter and said its earnings before interest, taxes, depreciation, and …
Tata Motors falls as core earnings fail to impress Read More »
