By Sethuraman N R and Aditi Shah BENGALURU (Reuters) – InterGlobe Aviation Ltd, the operator of India’s top airline IndiGo, on Friday said it is looking at ‘wet leasing’ planes to meet growing demand for air travel as supply chain disruption leads to delays in the delivery of new aircraft. A ‘wet lease’ arrangement is …
India’s IndiGo looking at ‘wet leasing’ planes to meet travel demand Read More »
By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – India’s ONGC Petro additions Ltd. (OPaL) is the second company in four days to be forced to withdraw its planned offering of 10-year bonds due to rising investor demand for higher coupon rates, analysts said. “OPaL was anticipating that they will be able to get longer-term …
Indian cos withdraw long-tenor bonds as investors seek higher rates Read More »
BENGALURU (Reuters) – Indian drugmaker Cipla reported a better-than-expected 11% rise in second-quarter profit on Friday, as revenue from new ventures almost doubles. Consolidated net profit rose to 7.89 billion Indian rupees ($95.6 million) in the quarter, from 7.11 billion rupees a year ago. Analysts, on average, expected the company to report a profit of …
India’s Cipla beats estimates with 11% rise in quarterly profit Read More »
BENGALURU (Reuters) – Gillette India Ltd reported a 5.9% rise in first-quarter profit on Friday, helped by strong demand for its grooming products ahead of the festive season. Gillette India, which is 75% owned by Procter & Gamble, said its net profit rose to 867.8 million rupees ($10.52 million) for the three months ended Sept. …
Gillette India’s Q1 profit rises on demand for grooming products Read More »
By Nimesh Vora MUMBAI (Reuters) – The fall in the Indian rupee’s forward premiums to the lowest level in more than a decade is prompting importers to hedge beyond the near term, analysts said on Friday. The USD/INR forward premiums have tumbled this year, fuelled by a jump in Treasury yields. U.S. yields have surged …
Plunging Indian rupee forward premiums spur importers to hedge longer Read More »
By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee gained against the dollar on Friday, as the Chinese yuan’s sharp rise lifted sentiment across Asia. The rupee was up 0.5% to 82.48 per dollar, tracking the onshore yuan’s 0.9% jump. Chinese stocks and the yuan jumped on reports of early progress in U.S. checks on …
Rupee firms as yuan’s rally lifts Asian currencies Read More »
(Reuters) -Apple Inc’s Taiwanese contract manufacturer Pegatron Corp has begun assembling the new iPhone 14 in India, Bloomberg News reported on Friday, citing people familiar with the matter. The report comes as relentless controls and spot lockdowns across China, where majority of Apple’s iPhones are manufactured, have hampered economic growth and taken a heavy psychological …
Apple adds Pegatron as new iPhone 14 supplier in India – Bloomberg News Read More »
By Seher Dareen (Reuters) – Gold prices fell to a more than one-month low on Thursday as the dollar and U.S. Treasury yields jumped after hawkish remarks from Federal Reserve Chair Jerome Powell, denting the non-yielding metal’s appeal. Spot gold was down 0.3% at $1,629.97 per ounce by 1:49 p.m. ET (1749 GMT), after falling …
Gold dips as hawkish U.S. Fed lifts dollar, yields Read More »
By Aditya Kalra and Yuvraj Malik BENGALURU/NEW DELHI (Reuters) – Meta Platforms Inc’s India head Ajit Mohan has quit after four years in the role to join rival Snap Inc, the companies said on Thursday, a high-profile exit for the Facebook parent in its biggest market. Mohan has stepped down with immediate effect and Manish …
Facebook-parent Meta’s India head Ajit Mohan quits to join Snap Read More »
BENGALURU (Reuters) – Housing Development Finance Corp (HDFC), India’s largest mortgage lender, reported a 17.8% rise in second-quarter profit on Thursday, boosted by strong demand for home loans. Profit rose to 44.54 billion Indian rupees ($537.2 million) in the three months ended Sept. 30, from 37.81 billion rupees a year earlier, HDFC said in an …
India’s top mortgage lender HDFC reports 18% rise in Q2 profit Read More »
