By Ashwin Manikandan MUMBAI (Reuters) -India’s microfinance industry has sought credit guarantee support of up to 200 billion rupees ($2.2 billion) from the government to spur loan growth in a sector grappling with higher borrowing costs, senior industry officials said on Tuesday. The Microfinance Industry Network has sought up to 75% default guarantee coverage from …
(Reuters) -FSN E-Commerce Ventures, the parent of Indian beauty products retailer Nykaa, posted a quarterly profit on Tuesday that more than doubled, benefiting from new brand tie-ups and steady demand for makeup and skincare. The company, which retails an array of brands such as Estee Lauder and actor Katrina Kaif’s Kay Beauty both online and …
India’s Nykaa posts two-fold rise in quarterly profit on beauty products demand Read More »
(Reuters) – India’s retail inflation in July eased below 2% for the first time in eight years, on the back of falling prices of food items including vegetables and pulses, hurting some farmers, but will have limited impact on the central bank’s policy decision. COMMENTARY: KUNAL KUNDU, INDIA ECONOMIST, SOCIETE GENERALE, BENGALURU India’s headline inflation …
India’s annual retail inflation slows to 1.55% in July Read More »
By Anuran Sadhu and Manvi Pant (Reuters) -Hindalco Industries, one of India’s largest aluminium and copper producers, reported a better-than-expected first-quarter profit on Tuesday, on improved performance in its India business and strong demand at its U.S. unit Novelis. The Aditya Birla Group-owned company posted a 30.3% rise in its consolidated net profit to 40.04 …
India’s Hindalco beats quarterly profit view on strong demand at home and abroad Read More »
By Rajendra Jadhav MUMBAI (Reuters) -India’s soyoil imports are poised to surge 60% year-on-year to a record high in 2024/25, as refiners boost purchases due to cheaper prices compared with rival palm oil, shipments of which are set to hit a five-year low, six dealers told Reuters. Higher soyoil purchases by India, the world’s biggest …
India’s soyoil imports set for record high, palm oil at five-year low Read More »
By Ashwin Manikandan MUMBAI (Reuters) – The Indian rupee was largely unchanged on Tuesday with traders in “wait and watch” mode awaiting the release of key inflation data in the U.S. and India later in the day, which could provide clues on the interest rate trajectories in the two economies. The local currency unit closed …
Indian rupee ends flat as market awaits key inflation data in US and India Read More »
By Vivek Kumar M and Bharath Rajeswaran (Reuters) -Indian equity benchmarks inched lower on Tuesday as a drop in financials weighed ahead of key U.S. and domestic inflation readings. The Nifty 50 fell 0.4% to 24,487.4 points and the BSE Sensex shed 0.46% to 80,235.59. Investors await U.S. CPI data due later in the day …
India’s stock benchmarks inch lower ahead of inflation data Read More »
(Reuters) -India’s space regulator has picked a consortium led by Google-backed startup PixxelSpace to build a commercial home-grown constellation of earth observation satellites, with an investment of more than 12 billion rupees (nearly $137 million) over the next five years, it said on Tuesday. The consortium, comprising local space tech firms Piersight Space, Satsure Analytics …
By Jayshree P Upadhyay MUMBAI (Reuters) -India’s market regulator has rejected a plea by industrialist Anil Ambani to settle charges related to investments in lender Yes Bank, potentially exposing him to at least a 18.28 billion rupee ($208.4 million) penalty, according to documents reviewed by Reuters. The case relates to 21.5 billion rupees ($245.3 million) …
NEW DELHI (Reuters) -India’s net direct tax collections fell 4% year-on-year to 6.64 trillion rupees ($75.79 billion) between April 1 and August 11, as personal income tax cuts and a deferred payment deadline weighed on receipts. Direct taxes, which include corporate and personal tax, fell nearly 2% year-on-year to 7.99 trillion rupees on a gross …
India’s net direct tax collections fall 4% on year from April-August Read More »
