BENGALURU (Reuters) – Polycab India reported a 28.5% jump in its fourth-quarter profit on Friday, driven by strong demand for its wires and cables, its largest segment. Consolidated net profit rose to 5.46 billion rupees ($65.4 million) for the three months ended March 31 from 4.25 billion rupees a year earlier. Cables and wires companies …
Cable maker Polycab India posts Q4 profit rise on healthy demand Read More »
By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) – Indian shares gained on Friday after logging their worst session in three months a day prior on concerns over the outcome of ongoing national elections and selling by foreign investors. The blue-chip NSE Nifty 50 was up 0.46% at 22,060.80 points, while the S&P BSE Sensex …
Indian shares rebound after drop on election jitters, foreign selling Read More »
By Kavya Balaraman and Rahul Paswan (Reuters) – Gold prices climbed over 1% on Thursday after fresh Labor Department data indicated that the number of Americans filing new unemployment claims rose more than expected last week, buttressing bets of a rate cut by the Federal Reserve this year. Spot gold rose 1.14% to $2,335.04 per …
Gold gains over 1% as soft US jobs data lifts Fed rate-cut bets Read More »
By Tanvi Mehta NEW DELHI (Reuters) -Air India Express said on Thursday its cabin crew has rejoined work after reporting sick this week, ending disruptions in services at the Tata Group’s budget carrier that cancelled its flights for the second day. “We sincerely apologise to those inconvenienced by these unintended disruptions. It is not in …
Air India Express cabin crew rejoins work ending second day of disruption Read More »
By Jaspreet Kalra MUMBAI (Reuters) – India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration. The National Payments Corporation of India (NPCI), the quasi-regulator, will extend by as much as …
By Nikunj Ohri NEW DELHI (Reuters) – India’s fiscal deficit for the year ending March 2024 is expected to be slightly better than the government’s projection of 17.35 trillion rupees ($207.81 billion), a government source told Reuters on Thursday. “Extra tax receipts and some non-tax revenues helped in bettering the fiscal deficit target,” the government …
India’s 2023/24 fiscal deficit seen slightly better than projected, source says Read More »
BENGALURU/NEW DELHI (Reuters) -India’s Bharat Petroleum Corp (BPCL) posted a smaller-than-expected fourth-quarter profit on Thursday, hurt by lower marketing margins and higher raw material costs. The state-owned firm’s standalone net profit fell nearly 35% to 42.24 billion rupees (about $506 million), well below analysts’ estimate of 52.66 billion rupees, per LSEG data. BPCL, the country’s …
India’s Bharat Petroleum misses Q4 profit view on lower marketing margins, higher costs Read More »
BENGALURU (Reuters) – Indian drugmaker Abbott India reported a 24% rise in fourth-quarter profit on Thursday, as strong sales outpaced the impact of government pricing caps on certain medicines. The company, which makes the popular antacid medicine Digene, said its profit rose to 2.87 billion rupees ($34.3 million) for the three months ended March 31, …
Drugmaker Abbott India posts Q4 profit rise on higher sales Read More »
By Siddhi Nayak and Nishit Navin MUMBAI/BENGALURU (Reuters) -State Bank of India on Thursday reported record fourth-quarter profit that beat estimates on strong loan demand, and forecast credit growth for the current fiscal year to keep the same pace as in the last 12 months. The state-run bank’s net profit rose 24% to 206.98 billion …
India’s SBI forecasts steady credit growth after qtrly profit beat Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – Inflows into India’s equity mutual funds moderated in April, while net assets under management (AUM) surpassed 57 trillion rupees for the first time ever during the month. After taking nearly five decades to build the first 10 trillion rupees of AUM, the mutual fund industry needed only a year …
India’s mutual fund assets top record 57 trillion rupees in April, data shows Read More »
