Reuters India Business

India’s Dr Reddy’s says open to boosting U.S. manufacturing as tariff threat looms

9 May 2025

By Rishika Sadam and Kashish Tandon HYDERABAD (Reuters) -India’s Dr Reddy’s Laboratories, one of country’s largest generic drugmakers, said that it is open to expanding its manufacturing footprint in the key U.S. market as tariff threat looms. “We are more than open to work in the United States, to make in the United States when …

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India’s Coforge to top $2 billion revenue target, CEO says

9 May 2025

By Haripriya Suresh BENGALURU (Reuters) -Indian mid-tier IT services firm Coforge is betting that a healthy order book will help it top the $2 billion revenue target for the financial year 2027, chief executive Sudhir Singh said. The company snagged a 13-year contract valued at $1.56 billion from U.S.-based travel technology provider Sabre Corp in …

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Engineering firm ABB India’s profit inches up on steady demand

9 May 2025

(Reuters) -Engineering services firm ABB India reported a 3.3% rise in first-quarter profit on Friday, driven by steady demand for products in its electrification and motion segments. Profit at the Indian arm of Switzerland’s ABB rose to 4.75 billion rupees ($55.63 million) in the three months ended March 31, from 4.59 billion rupees a year …

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India’s Thermax misses profit estimates on weak demand for industrial machines

9 May 2025

(Reuters) -India’s Thermax reported fourth-quarter profit below expectations on Friday, hurt by weak demand for its industrial machines and higher raw material costs. Capital goods companies, which depend heavily on government orders, have seen a slowdown in such inflows in recent quarters. Analysts say government capex remained subdued across most segments in the reporting quarter …

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India’s Manappuram Finance posts surprise loss amid rising defaults in microfinance business

9 May 2025

(Reuters) -India’s Manappuram Finance reported a surprise fourth-quarter loss on Friday, hurt by a surge in bad loans in its microfinance vertical. Indian lenders have been reporting rising default rates in microfinance loans, or collateral-free small loans to borrowers, following a period of aggressive lending in the segment. Bad loans and provisions in Manappuram’s microfinance …

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India’s Swiggy flags peak in quick commerce losses

9 May 2025

(Reuters) -India’s Swiggy said on Friday that adjusted core losses had likely peaked in its rapidly expanding Instamart quick commerce business, where heavy investments to fend off deep-pocketed rivals have led to the company’s overall loss ballooning. The quick commerce sector, where Eternal’s Blinkit has the biggest market share as per analysts, largely caters to …

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India’s forex reserves drop $2 billion, snap 8-week streak of gains

9 May 2025

MUMBAI (Reuters) -India’s foreign exchange reserves declined by $2.07 billion, to $686.06 billion as of May 2, snapping an eight-week gaining streak that had lifted reserves to a near six-month high, data released by the central bank on Friday showed. The reserves had risen by nearly $50 billion in the nine weeks preceding the reporting …

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India watchdog recommends 5-year satellite spectrum allocation as Starlink nears entry

9 May 2025

(Reuters) -India’s telecom regulator has recommended allotting satellite spectrum for commercial communication services for five years, it said on Friday, at a time when Elon Musk is getting closer to launching his Starlink high-speed internet in the country. The recommendation also includes a possibility to extend an initial five-year spectrum allocation by a further two …

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Border conflict worry erases $83 billion from Indian equities in two days

9 May 2025

By Bharath Rajeswaran, Vivek Kumar M and Indranil Sarkar (Reuters) -Indian shares fell for a second straight session on Friday, losing about $83 billion in market value, as intensified military action between India and its neighbouring Pakistan rattled investors. The nuclear-armed neighbours have been locked in conflict since Wednesday, when India targeted multiple “terrorist infrastructure” …

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Motherson Sumi Wiring India’s quarterly profit falls on higher costs

9 May 2025

(Reuters) -Motherson Sumi Wiring India reported lower fourth-quarter profit on Friday as higher costs weighed. The company, which sells wiring harness solutions to carmakers including Maruti Suzuki and Tata Motors, said its profit fell 14% to 1.65 billion rupees ($19.3 million) in the quarter ended March 31. Its total revenue from operations grew 12% to …

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