Reuters India Business

By Uday Sampath Kumar and Jessica DiNapoli (Reuters) -Procter & Gamble Co delivered quarterly earnings that missed estimates on Friday and forecast lower sales growth, citing surging transportation and commodity costs, consumer cutbacks and retailer reluctance to hike prices. P&G shares fell as much as 6% in the morning as the company missed quarterly earnings …

Tide maker P&G misses earnings, forecasts lower growth as consumers ‘scrimp’ Read More »

(Reuters) -Uber Technologies Inc and its Indian rival Ola on Friday denied a media report that the ride-hailing firms were in talks for a merger. An Economic Times report said that Ola Chief Executive Bhavish Aggarwal had met top Uber executives in San Francisco, United States, citing two sources. (https://bit.ly/3cPbXro) “That report is inaccurate. We …

India’s Ola and Uber deny report of merger talks Read More »

July 29 (Reuters) – Indian banks’ loans rose 14% in the two weeks to July 15 from a year earlier, while deposits rose 8.4%, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans fell 1.02 trillion rupees ($12.85 billion) to 122.81 trillion rupees in the two weeks to July 15. Non-food …

Indian banks’ loans rose 14% y/y in two weeks to July 15 – central bank Read More »

MUMBAI (Reuters) – The Indian rupee firmed to a more than three-week high by Friday afternoon as the U.S. dollar remained under pressure on bets the Federal Reserve would decelerate its pace of rate hikes after the U.S. economy unexpectedly shrunk in the June quarter. The partially convertible rupee was trading at 79.24 per dollar …

Indian rupee touches 3-week high as dollar continues slide Read More »

By Aditi Shah NEW DELHI (Reuters) – Reliance Industries, Softbank Group-backed Ola Electric and Indian jewellery maker Rajesh Exports on Friday signed final agreements to build battery cells under a $2.3 billion government incentive program. Shares of Rajesh Exports rose as much as 5.9% to their highest since July 4 after the government’s statement on …

Reliance, Ola Electric, Rajesh Exports agree to build batteries in India Read More »

(Reuters) – Foreign mutual funds which have exposure to Sri Lankan equities have posted steep losses in their net asset values this year, prompting their fund managers to look for ways to trim their holdings and switch to alternative markets. According to Refinitiv Lipper, the top eight overseas funds that have exposure to Sri Lanka …

Hefty losses at foreign funds with holdings in Sri Lankan equities Read More »

BENGALURU (Reuters) – Indian benchmark indexes were headed for their best month since August last year, with shares hitting a three-month high on Friday as metal and auto stocks advanced. The NSE Nifty 50 index was up 0.8% at 17,063, as of 0523 GMT, while the S&P BSE Sensex rose 0.7% to 57,260.57. The indexes, …

Indian shares set for best month in a year on auto, metals boost Read More »