By Gaurav Dogra (Reuters) – Key Asian markets witnessed modest foreign outflows in April, driven by a rise in U.S. Treasury yields, as traders expect the Federal Reserve to keep interest rates elevated for longer to combat inflationary pressures. Data from stock exchanges in Taiwan, India, Indonesia, Vietnam, the Philippines, Thailand, and South Korea revealed …
Asian stocks face modest foreign outflows in April Read More »
BENGALURU (Reuters) – Foreign investors offloaded financials, information technology and consumer stocks in April, data from the National Securities Depository Ltd (NSDL) showed on Tuesday. Foreign portfolio investors (FPI), who bought 2.08 trillion rupees worth of Indian shares in the 12 months ending March, sold shares worth 86.71 billion rupees in April, amid concerns over …
Foreign investors offload India’s financials, IT stocks in April, NSDL data shows Read More »
By Rahul Paswan (Reuters) – Gold prices climbed more than 1% on Monday, as the U.S. dollar weakened after softer-than-expected U.S. jobs data fueled expectations of potential interest rate cuts by the Federal Reserve later this year. Spot gold rose 1% to $2,324.94 per ounce by 2:00 p.m. ET (1800 GMT). U.S. gold futures for …
BENGALURU (Reuters) – Indian generic drugmaker Lupin reported a smaller-than-expected rise in fourth-quarter profit on Monday, as higher raw material costs more than offset strong demand for its drugs in North America and domestic markets. WHY IT’S IMPORTANT Indian generic drugmakers Dr. Reddy’s Laboratories, Cipla and Sun Pharmaceutical Industries have benefited from strong sales and …
Indian drugmaker Lupin misses quarterly profit estimates as costs rise Read More »
By Arathy Somasekhar, Marianna Parraga and Nidhi Verma HOUSTON/NEW DELHI (Reuters) – Indian oil refiner Reliance Industries has resubmitted a request to the U.S. for an authorization to import crude oil from sanctioned Venezuela, three people close to the matter said, and resume oil trade between the OPEC producer and the once second-largest destination for …
India’s Reliance renews bid for US license to import Venezuelan oil, sources say Read More »
MUMBAI/BENGALURU (Reuters) -Global investment firm KKR will buy Indian medical devices maker Healthium Medtech from UK-based Apax Partners in a deal that three sources with direct knowledge of the matter say is valued at 70 billion rupees ($838.60 million). Healthium and Apax did not immediately respond to Reuters’ requests seeking comment, while KKR declined to …
KKR to buy India’s Healthium Medtech at $839 million valuation, sources say Read More »
BENGALURU (Reuters) – India’s Godrej Consumer Products reported a nearly 20% rise in fourth-quarter profit before a one-time charge on Monday, benefiting from higher demand for its home and personal care products. WHY IT’S IMPORTANT Rising household incomes and evolving lifestyles have fuelled the growth of consumer goods makers like Godrej Consumer Products, at a …
India’s Godrej Consumer Products posts rise in Q4 adjusted profit Read More »
CHENNAI/BENGALURU (Reuters) -India’s Marico, which owns the Saffola and Parachute brands of packaged oils, expects revenue growth to outpace its volume growth in fiscal 2025, it said on Monday, adding that it would aggressively scale up food and personal care portfolios. The consumer goods major said it expects a gradual revenue uptick in its core …
By Hritam Mukherjee BENGALURU (Reuters) -India’s blue-chip Nifty 50 closed lower on Monday, weighed down by a slide in state-run banks on fears that newly proposed rules would likely weigh on their profits. The Nifty 50 closed 0.15% lower at 22442.70 points. However, the 30-member S&P BSE Sensex edged 0.02% higher to 73,895.54 as the drop in state-run …
State-run banks weigh on India’s blue-chip Nifty 50 index Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – Shares of Indian state-owned lenders slid 3.5% on Monday, set for their biggest one-day drop in nearly two months, after the country’s central bank proposed lenders set aside more money to cover loans for under-construction infrastructure projects. The Nifty PSU bank index’s 3.5% decline was the most among the …
India state-owned lenders slide as regulator mulls bigger provisions for project loans Read More »
