(Reuters) -Indian airline IndiGo appointed Vikram Singh Mehta as the chairman of its board, the low-cost carrier said on Wednesday. Mehta, an existing board member of IndiGo, will succeed Venkataramani Sumantran, who took charge as chairman three years ago at the start of a post-pandemic rebound in air travel. Mehta has previously worked at Shell …
India’s IndiGo names Vikram Singh Mehta as new chairman Read More »
(Reuters) -3M India reported a fall in profit for the third straight quarter on Wednesday as higher costs overshadowed demand for its diversified products such as ‘Post it’ notes and ‘Scotch Brite’ scouring pads. The company’s profit after tax slumped 59% to 713.7 million rupees ($8.4 million) for the fourth-quarter ended March 31. In the …
3M India posts profit fall for third straight quarter on higher costs Read More »
(Reuters) -Granules India reported a drop in fourth-quarter adjusted profit on Wednesday, hurt by weak pricing and stiff competition in its key European and North American markets. Profit before exceptional items and tax fell to 1.67 billion rupees ($19.6 million) for the quarter ended March 31, from 1.76 billion rupees a year earlier. The drugmaker …
Paracetamol maker Granules India’s profit drops as lower prices in US, Europe pinch Read More »
By Dharamraj Dhutia MUMBAI (Reuters) -Indian firms have stepped up short-term bond sales with issues worth around 270 billion rupees ($3.2 billion) lined up through Thursday as the Reserve Bank of India’s rate cuts and hefty liquidity injections have made these borrowings cheaper. The issuers, which include three large state-run institutions and five big non-bank …
Indian companies rush to sell short-term debt as RBI monetary boost lowers rates Read More »
By Dharamraj Dhutia MUMBAI (Reuters) -Adani Ports and Special Economic Zone, India’s largest private port operator, plans a return to the domestic bond market after a 17-month hiatus in what could be its largest-ever rupee denominated debt issue, three merchant bankers said on Wednesday. The company is set to raise as much as 50 billion …
India’s Adani Ports plans local debt market comeback after 17 months, bankers say Read More »
By Rajendra Jadhav and Mayank Bhardwaj INDORE, India (Reuters) – A strong wheat harvest in India is rapidly replenishing stocks, meaning the country will be able to meet domestic demand without imports this year, contrary to market talk that it would need overseas supplies, and a potential drag on global prices. India banned exports of …
Analysis-No imports needed: India’s wheat harvest defies market speculation Read More »
By Sai Ishwarbharath B BENGALURU (Reuters) -Guidewire Software, a U.S.-based insurance technology provider, plans to double its India headcount to 1,000 by the end of 2028 as it expands its professional services division, a top executive told Reuters. India’s transformation from a low-cost back-office destination to a high-value innovation hub has prompted many multinational firms …
US-based Guidewire Software plans to double India headcount in three years Read More »
By Scott Murdoch (Reuters) -British American Tobacco has sold a $1.5 billion stake in Indian consumer goods company ITC at 413 Indian rupees per share, according to a term sheet seen by Reuters. The company sold 313 million shares in ITC, representing 2.5% of ITC, according to the term sheet. This final amount exceeded its …
British American Tobacco sells $1.5 billion stake in India’s ITC via block deal Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices declined for a second consecutive session on Tuesday, as risk sentiment improved following U.S. President Donald Trump’s decision to postpone tariffs on the European Union. Spot gold fell 1.2% to $3,302.10 an ounce by 02:03 p.m. ET (1802 GMT) after rising nearly 5% last week. U.S. gold futures …
Trump’s tariff reprieve pushes gold down for second straight session Read More »
By Nishit Navin (Reuters) -Life Insurance Corporation of India, the country’s biggest insurer, reported a 38% rise in fourth-quarter profit on Tuesday, helped by lower employee-related expenses even as its premiums fell, weighed by a regulation change. The Mumbai-based insurer saw its profit after tax rise to 190.13 billion rupees ($2.23 billion) for the quarter …
India’s LIC posts quarterly profit rise on lower employee costs Read More »
