Reuters India Business

Waters Corp’s India business boosted by rush for weight-loss drugs

15 May 2025

By Kashish Tandon BENGALURU (Reuters) -U.S.-based Waters Corp, which makes medical equipment used in clinical testing, has seen a spurt in demand from drugmakers in India rushing to develop their versions of popular weight-loss drugs, a senior executive told Reuters. Semaglutide, the active ingredient in Novo Nordisk’s Wegovy and diabetes medicine Ozempic, goes off patent …

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India’s April unemployment rate for ages 15 and above at 5.1%, government data shows

15 May 2025

NEW DELHI (Reuters) -India’s unemployment rate among individuals aged 15 years and above stood at 5.1% in April, the country’s ministry of statistics said in a statement on Thursday. This is the first of what will be India’s monthly labour force data reports, which will cover both urban and rural areas. Previously, the government published …

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India’s LT Foods posts higher quarterly profit on strong demand

15 May 2025

(Reuters) -India’s LT Foods, which makes the Daawat and Royal brands of basmati rice, posted a 7.9% rise in fourth-quarter profit on Thursday, on strong demand. The company said its consolidated net profit rose to 1.61 billion rupees ($18.8 million) in the three months ended March 31, up from 1.49 billion rupees last year. The …

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Jockey India licensee Page Industries beats quarterly profit view on athleisure demand

15 May 2025

(Reuters) -Page Industries, which licenses Jockey and Speedo products in India, reported a bigger than expected rise in fourth-quarter profit on Thursday, helped by higher demand for its athleisure products. The company’s profit increased 51.6% to 1.64 billion rupees ($19.2 million) in the quarter. Analysts, on average, expected a profit of 1.38 billion rupees, according …

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Indian power company CESC’s quarterly profit falls on higher tax expenses

15 May 2025

BENGALURU (Reuters) -India’s CESC, a power generation and distribution company, reported a fall in fourth-quarter profit on Thursday, hurt by a jump in tax expenses amid higher power demand. The company’s consolidated net profit fell 6.8% year-on-year to 3.73 billion rupees ($43.6 million) for the three months ended March 31. CESC’s total tax expenses jumped …

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Indian IT firm Persistent Systems drops after report that key client UnitedHealth faces criminal probe

15 May 2025

(Reuters) -Shares of Persistent Systems declined 3% on Thursday, the most among Indian IT services providers, after a media report said that key client UnitedHealth Group was under a criminal probe for possible Medicare fraud. The U.S. Department of Justice’s healthcare-fraud unit is overseeing the criminal investigation, which focuses on UnitedHealth’s Medicare Advantage business practices, …

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India’s IRFC receives approval to issue deep-discount debt, government document shows

15 May 2025

By Khushi Malhotra MUMBAI (Reuters) -India’s Railway Finance Corp (IRFC) has received government approval to raise up to 100 billion rupees ($1.17 billion) through deep-discount bonds, a corporate bond structure that is gaining popularity among state-run firms. Deep-discount bonds are generally issued at a discount to their face value and do not pay regular interest, …

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India’s car sales to dealers jump nearly 4% in April, industry body says

15 May 2025

(Corrects syntax in headline) (Reuters) -Indian automakers posted a near 4% jump in sales to dealers in April, led by strong demand for sport utility vehicles (SUVs), data from an industry body showed on Thursday. Domestic sales of all cars in the country to dealers rose to 348,847 units last month, compared to 335,629 in …

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India’s IREDA files bankruptcy case against Gensol Engineering amid fraud allegations

15 May 2025

(Reuters) -State-owned Indian Renewable Energy Development Agency said on Wednesday it has filed a bankruptcy application against Gensol Engineering marking the first instance of a creditor taking the embattled firm to the National Company Law Tribunal (NCLT). Gensol, a solar energy firm that also procured electric vehicles on behalf of ride-hailing service BluSmart, owes IREDA …

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