Reuters India Business Archives - Page 1049 of 1191

Pepsi India bottler beats profit estimates on beverage price hikes

1 Nov 2022 1 Nov 2022

BENGALURU (Reuters) – India’s Varun Beverages reported a better-than-expected third-quarter profit on Tuesday as the Pepsi bottler benefited from price increases it had implemented to protect its margins. Profit grew by 59% to 3.81 billion Indian rupees ($46.1 million) in the three months ended Sept. 30. Analysts on average had expected a profit of 2.32 …

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Explainer-India central bank’s policy committee meets to discuss first inflation target miss

1 Nov 2022 1 Nov 2022

By Swati Bhat MUMBAI (Reuters) – Reserve Bank of India’s monetary policy committee (MPC) will meet on Thursday, outside its scheduled meetings, to discuss its first ever inflation target miss, which will require it to write a letter to the government. The central bank aims to keep retail inflation within 2 percentage points on either …

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Amazon says India’s Appario to stop selling on platform

31 Oct 2022 31 Oct 2022

By Aditya Kalra NEW DELHI (Reuters) – One of Amazon India’s biggest sellers, Appario, will cease to list products on the shopping website, the U.S. firm said on Monday, after it faced years of allegations from brick-and-mortar retailers of giving preferential treatment to the seller. A Reuters investigation last year, based on Amazon documents, showed …

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Oil falls on U.S. output gains, Chinese demand doubts

31 Oct 2022 31 Oct 2022

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell on Monday on expectations that U.S. production could rise and as weaker economic data out of China and the country’s widening COVID-19 curbs weighed on demand. Global benchmark Brent crude futures dropped 94 cents, or 0.98%, to $94.83 a barrel. U.S. West Texas Intermediate (WTI) crude fell …

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India state retailers to marginally cut petrol, diesel prices from Tuesday

31 Oct 2022 31 Oct 2022

NEW DELHI (Reuters) – India’s top fuel retailer Indian Oil Corp will marginally cut petrol and diesel prices from Tuesday, according to a notification sent to dealers, reflecting a decline in global oil prices. A liter of petrol in New Delhi will cost 96.32 rupees ($1.16), while diesel will be sold at 89.24 rupees, the …

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Hawkish Fed, dollar puts gold on track for longest monthly losing spree

31 Oct 2022 31 Oct 2022

By Seher Dareen (Reuters) – Gold edged lower on Monday and was heading for its longest streak of monthly losses on record as a stronger dollar, elevated U.S. bond yields and prospects for more rate hikes from the Federal Reserve dented the non-yielding metal’s appeal. Spot gold fell 0.2% to $1,638.84 per ounce by 11:51 …

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India sharply raises base import price of palm oil

31 Oct 2022 31 Oct 2022

MUMBAI (Reuters) – India sharply raised the base import prices of crude and refined palm oil and crude soya oil, the government said in a statement on Monday, as prices jumped in the world market. The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used to …

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Indian scientists say new GM mustard seeds safe for commercial cultivation

31 Oct 2022 31 Oct 2022

By Mayank Bhardwaj NEW DELHI (Reuters) – A locally developed genetically modified (GM) mustard variety will help India boost crop yields of one of the main oilseeds and cut vegetable oil imports that cost billions of dollars a year, the country’s top agricultural scientists said on Monday. The Genetic Engineering Appraisal Committee (GEAC), part of …

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Castrol India reports flat profit for inflation-hit September quarter

31 Oct 2022 31 Oct 2022

BENGALURU (Reuters) – Automotive lubricant manufacturer Castrol India Ltd reported a flat profit for its third quarter on Monday, as price increases helped it counter the impact of higher input costs and soaring inflation. Net profit came in at 1.87 billion rupees ($22.59 million) for the three months ended Sept. 30, compared with 1.86 billion …

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India’s Tata Steel posts 87% profit plunge, misses estimates as prices drop

31 Oct 2022 31 Oct 2022

BENGALURU (Reuters) – India’s Tata Steel on Monday missed analysts’ quarterly earnings estimates by a wide margin as profit slumped more than 87% due to a drop in steel prices amid a global economic slowdown. Concerns over slowdown in key economies, geopolitical issues and seasonal factors have led to a “volatile operating environment”, Chief Executive …

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