BENGALURU (Reuters) -Bharti Airtel is not in talks to buy UK-based Vodafone Group’s 21.05% stake in Indus Towers, the Indian telecom operator said on Wednesday, after a newspaper reported that it was eyeing the stake. The Economic Times said in a report that if the deal went through, Vodafone Group could infuse some of the …
India’s Airtel says not in talks to buy Vodafone UK’s Indus Towers stake Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee gained on Wednesday, aided by a recovery in risk appetite that helped lift Asian currencies, while dollar-rupee forward premiums also ticked higher. The rupee was at 83.27 against the U.S. dollar as of 10:15 a.m. IST, its strongest level since April 10 and higher than its …
Rupee rises to two-week high on improved risk appetite; forward premiums tick up Read More »
BENGALURU (Reuters) – Shares of India’s Tata Consumer Products fell as much as 5.7% on Wednesday, after it missed fourth-quarter revenue estimates, as consumers cut back on discretionary spending amid sticky food inflation, while stiff competition also dampened demand. The company’s consolidated revenue from operations rose 8.5% to 39.27 billion rupees ($471.4 million), missing analysts …
India’s Tata Consumer slips on missing Q4 revenue estimates Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices steadied on Tuesday after hitting a more than two-week low on diminishing fears about an escalation of tensions in the Middle East, with investors awaiting key economic data for further clarity on the timeline on U.S. interest rate cuts. Spot gold was little changed at $2,325.80 per ounce …
Gold holds steady as focus turns to U.S. economic data Read More »
BENGALURU (Reuters) – Prosus-backed PayU Payments said on Tuesday it had received the Reserve Bank of India’s in-principle approval to operate as a payment aggregator and onboard new merchants onto its platform. The approval comes days after the RBI took steps to tighten scrutiny of the payments sector, asking online payment firms to monitor transactions-related …
Prosus-backed PayU gets India cenbank nod to operate as payment aggregator Read More »
BENGALURU (Reuters) – IIFL Finance said a special audit directed by the Reserve Bank of India (RBI) started on Tuesday, about one-and-a half month after the country’s central bank barred the non-bank finance company from disbursing gold loans. In early March, the RBI ordered IIFL Finance to stop sanctioning, disbursing and selling gold loans, citing …
IIFL Finance’s cenbank-directed audit starts after March gold loan ban Read More »
BENGALURU(Reuters) – Indian engineering and technology services firm Tata Elxsi reported a smaller-than-expected fourth-quarter profit on Tuesday amid lower discretionary spending in the sector and persisting tepid demand in the media and communications vertical. The company’s net profit fell 2.3% to 1.97 billion rupees ($24 million) for the quarter ended March 31, below analysts’ estimate …
India’s Tata Elxsi misses Q4 profit estimates as media vertical blips Read More »
BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance Company reported a lower new business margin on Tuesday, hurt by persistent decline in demand for high-value policies and as customer preference shifted towards low-margin products. Value for new business (VNB), the expected profit from new policies, fell 19.5% to 22.27 billion rupees ($267 million) for the …
India’s ICICI Prudential reports narrower new business margin for FY 2024 Read More »
BENGALURU (Reuters) – India’s Tata Consumer Products on Tuesday posted a rise in its fourth-quarter profit before a one-time expense, aided by strength in its domestic business that sells essential items such as pulses, grains and salt. The company’s consolidated profit before exceptional items rose to 5.09 billion rupees ($61.08 million) from 4.56 billion rupees …
By Rajendra Jadhav MUMBAI (Reuters) – India’s sugar consumption this year is poised to hit a record high as demand during the peak summer season gets a boost from heat waves and the mobilisation of millions for elections in the scorching temperatures. Higher consumption would lift local prices and boost margins of sugar producers such …
India’s sugar demand surges in heat wave and election season Read More »
