Reuters India Business

By Shivangi Acharya NEW DELHI (Reuters) – Indian lenders UCO Bank and Yes Bank are in talks with their Russian counterparts over a payment mechanism for trade between the two countries, a senior government official said on Thursday. Reuters had reported large lenders are reluctant to process direct rupee trade transactions with Russia for fear …

Small Indian lenders in talks with Russia to finalise trade mechanism – official Read More »

By Mohi Narayan NEW DELHI (Reuters) – India plans to pitch for a global alliance on biofuels among members of the group of 20 major economies, oil minister Hardeep Singh Puri said on Wednesday, as the world’s third biggest oil consumer bids to boost use of cleaner fuels. India will take over the presidency of …

India to pitch for global biofuels alliance at G20 – oil minister Read More »

BENGALURU (Reuters) -India’s top cement maker UltraTech Cement on Wednesday reported a bigger-than-expected drop in September-quarter profit, dented by higher power and fuel costs as well as lower demand. Consolidated net profit for the quarter was at 7.56 billion Indian rupees ($91.77 million), down over 42% on year. Analysts, on average, had expected the company …

India’s UltraTech Cement misses Q2 profit estimates as expenses rise, demand weakens Read More »

By Abhirup Roy and Aditya Kalra MUMBAI (Reuters) – Indian authorities have asked a court to quash Pernod Ricard’s bid to halt proceedings related to a $244 million tax demand, accusing the French spirit giant of being a “habitual litigant” and conspiring to “defraud” the government, legal documents show. The Oct. 3 Mumbai court filing …

India says Pernod delaying $244 million tax demand probe Read More »

BENGALURU (Reuters) – Nestle India reported a bigger-than-expected rise in third-quarter profit on Wednesday, benefiting from price increases and a rebound in demand for its chocolates and packaged foods in rural areas. The Maggi noodles maker’s profit rose 8.3% to 6.68 billion Indian rupees ($81.1 million) in the quarter ended Sept. 30. Analysts on average …

Nestle India’s profit tops estimates on price hikes, demand rebound Read More »