(Reuters) -Schloss Bangalore, the owner of Leela luxury hotels, has slashed its IPO size by 30% to 35 billion rupees ($409 million), joining a growing list of companies that have trimmed their issues due to market uncertainty. Brookfield-backed Schloss, which initially planned a 50 billion-rupee initial public offering, will run the issue from May 26-28, …
India’s Leela hotels owner Schloss slashes IPO size by 30% Read More »
BENGALURU (Reuters) -India’s United Spirits reported a rise in fourth-quarter profit on Tuesday, helped by strong demand for its premium alcohol brands and resumption of sales in the southern state of Andhra Pradesh in September after a five-year gap. The Indian arm of spirits maker Diageo reported a standalone profit of 4.51 billion rupees ($52.72 …
India’s United Spirits posts profit rise on strong consumer demand for premium alcohol Read More »
(Corrects date) (Reuters) -India’s JK Tyre reported a drop in fourth-quarter profit on Tuesday, hurt by tepid demand in the truck and bus segment. The company’s consolidated net profit dropped 43% to 970.4 million rupees ($11.3 million), from 1.69 billion rupees a year before. Quarterly revenue rose 1.6% to 37.59 billion rupees, likely helped by …
India’s JK Tyre posts smaller quarterly profit on tepid truck, bus sales Read More »
(Reuters) -Indian drugmaker Torrent Pharmaceuticals missed fourth-quarter profit and revenue estimates on Tuesday, hurt by currency depreciation in Brazil, its top overseas market by revenue. The company reported consolidated net profit of 4.98 billion rupees ($58.2 million) for January-March quarter, up 11% from a year earlier. Analysts, on average, expected a profit of 5.19 billion …
India’s Torrent Pharma misses quarterly estimates on Brazil currency depreciation Read More »
(Adds chart; no changes to text) (Reuters) -India’s Gland Pharma, which make injectable versions of generic drugs, reported a 3.1% fall in fourth-quarter profit on Tuesday, weighed down by weaker sales in the U.S., a key region for the company. The company reported a consolidated net profit of 1.87 billion rupees ($21.9 million) for the …
India’s Gland Pharma posts quarterly profit fall, hit by sluggish U.S. sales Read More »
NEW DELHI (Reuters) -India’s infrastructure output grew 0.5% year-on-year in April, its slowest pace in eight months, dragged by weakness in crude oil and refinery products, government data showed on Tuesday. The index, which tracks activity across eight sectors and makes up 40% of the country’s industrial production, grew at a revised 4.6% in March, …
India’s April infrastructure output growth hits eight-month low Read More »
By Manvi Pant (Reuters) -Hindalco Industries, one of India’s largest copper and aluminium producers, reported fourth-quarter profit above analysts’ estimates on Tuesday, driven by a surge in commodity prices. Consolidated net profit for the Aditya Birla Group-owned firm rose to 52.83 billion rupees ($618.05 million) for the quarter ended March 31. Analysts had expected, on …
India’s Hindalco beats quarterly profit estimates on surging commodity prices Read More »
By Vivek Kumar M and Bharath Rajeswaran (Reuters) – India’s benchmark indexes dropped about 1% on Tuesday as the heavyweight financials and information technology stocks succumbed to likely selling by foreign investors. The Nifty 50 slipped 1.05% to 24,683.9, while the BSE Sensex fell 1.06% to close at 81,186.44 points, dropping for the third session …
Financials, IT lead slide in Indian equities on likely foreign outflows Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the U.S. dollar, down about 0.3% on the day. Asian currencies …
Rupee slips along with local stocks and Chinese yuan even as dollar softens Read More »
(This May 19 story has been corrected to clarify that Redington does not distribute Samsung products in India, in paragraph 1) (Reuters) – Redington, a distributor for Apple in India, reported an increase in adjusted quarterly profit, driven by higher demand for cloud services and automation. The Chennai, Tamil Nadu-based company reported a profit before …
India’s Redington posts higher quarterly profit on strong cloud demand (May 19) Read More »
