Reuters India Business

India’s Shoppers Stop posts narrower quarterly loss on demand for premium products

17 Jul 2025

(Reuters) -Indian departmental store chain Shoppers Stop reported a narrower first quarter loss on Thursday, as its richer customers splurged on luxury watches, perfumes and fancy apparel. The affluent in India have kept on spending on premium products, despite the high cost of living in cities straining the budgets of middle class consumers. Demand for …

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Wipro first quarter results top estimates as Indian IT firm sees some strong client spending

17 Jul 2025

By Haripriya Suresh and Sai Ishwarbharath B BENGALURU (Reuters) -Wipro beat June-quarter estimates as improved client spending in parts of its Americas business boosted performance and forecast current-quarter revenue in line with expectations. The results and forecast eased investor concerns after months of subdued outlook, sending U.S.-listed shares of the company up 1.4% in pre-market …

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India’s ONGC explores setting up 200,000-240,000 bpd refinery in Gujarat state, source says

17 Jul 2025

By Nidhi Verma NEW DELHI (Reuters) -India’s state-run Oil and Natural Gas Corporation is exploring building a 200,000-240,000 barrels per day refinery at Jamnagar in the western Indian state of Gujarat, a company source said on Thursday. The company is doing a pre-feasibility study for the project, the source told reporters. The source declined to …

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Jaguar Land Rover-backed battery recycling project gets UK government funding

17 Jul 2025

(Reuters) -An EV battery recycling project backed by Jaguar Land Rover has received British government funding to recover critical minerals from end-of-life batteries, startup Mint Innovation said on Thursday. The project to recover lithium, nickel and cobalt from used batteries is part of the 2.5-billion-pound ($3.35 billion) DRIVE35 programme that the UK Department for Business …

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India can secure oil even if Russian imports sanctioned, minister says

17 Jul 2025

By Nidhi Verma NEW DELHI (Reuters) -India is confident of meeting its oil needs from alternative sources if Russian supplies are hit by secondary sanctions, Oil Minister Hardeep Singh Puri said on Thursday. Earlier this week, U.S. President Donald Trump warned that countries purchasing Russian exports could face sanctions if Moscow fails to reach a …

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Rupee dips past key support, exporter activity and inflows help limit losses

17 Jul 2025

By Jaspreet Kalra MUMBAI(Reuters) – The Indian rupee weakened past a key support level on Thursday to hit a three-week low, pressured by a broadly stronger dollar, even as exporter dollar sales and portfolio inflows helped the local currency limit its losses. The rupee closed at 86.0750 against the U.S. dollar, down from its close …

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India’s Adani to exit consumer goods joint venture with Wilmar in $1.3 billion deal

17 Jul 2025

(Reuters) -India’s Adani Group will exit its consumer goods joint venture with Wilmar in a $1.3 billion deal, giving control to the Singaporean firm, it said on Thursday. The sale was announced in December and comes amid Adani’s plans to bolster its infrastructure business. As part of the deal, Adani Commodities, a unit of Adani …

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India’s Polycab posts first-quarter profit above estimates on robust demand for cables

17 Jul 2025

(Reuters) -Polycab India reported a bigger-than-expected first-quarter profit on Thursday, boosted by steady demand for its wires and cables, supported by high infrastructure spending across key sectors. The company’s consolidated net profit rose 49.5% to 5.92 billion rupees ($68.87 million) in the three-month period ended June 30. Analysts, on average, had expected a profit of …

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