Reuters India Business

Analysis-Indian court’s reversal of $2.3 billion deal casts shadow on bankruptcy law

8 May 2025

By Arpan Chaturvedi NEW DELHI (Reuters) -A decision by India’s Supreme Court to quash a $2.3-billion steel industry deal six years after an insolvency tribunal approved it has unsettled buyers of distressed assets, throwing a shadow over one of the country’s biggest reforms. Seven lawyers and bankruptcy law experts said the unprecedented ruling had set …

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India’s Sula Vineyards’ quarterly profit drops on weak urban consumption

8 May 2025

(Reuters) -India’s biggest winemaker Sula Vineyards reported a nearly 4% fall in fourth-quarter profit on Thursday, hurt by a prolonged slowdown in urban consumption. Demand for discretionary goods remains weak in Indian cities and towns due to high living costs and sluggish wage growth, despite easing inflation. Sula gets about 90% of its revenue from …

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India’s Asian Paints expects worst demand in decades to persist

8 May 2025

By Hritam Mukherjee (Reuters) -India’s Asian Paints said on Thursday demand conditions were at their worst in decades and unlikely to improve in the near term, as the market leader grapples with rising competition and weak buyer spending. The company missed estimates for fourth-quarter profit and reported a drop in sales, adding to a slate …

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India’s Pidilite misses quarterly profit estimates on higher costs, tepid demand

8 May 2025

(Reuters) -India’s Pidilite Industries on Thursday reported fourth-quarter profit below estimates, dragged by a rise in input costs for its adhesives and sealants and sluggish demand from the construction industry. Prices of Vinyl Acetate Monomer (VAM), a key raw material for Pidilite, inched up 5% during the quarter, contributing to a 15.9% rise in overall …

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India’s Titan posts higher quarterly profit on strong demand for premium jewellery, gold coins

8 May 2025

(Reuters) -Indian watchmaker Titan reported a nearly 13% rise in fourth-quarter profit on Thursday as demand for premium jewellery and gold coins from affluent customers remained resilient despite higher bullion prices. The company reported consolidated net profit of 8.71 billion rupees ($101.97 million) for the quarter ended March 31, compared with last year’s 7.71 billion …

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India scraps short-term investment, concentration limits for foreign investors in corporate debt

8 May 2025

BENGALURU (Reuters) -India’s central bank said on Thursday it has decided to withdraw short-term investment and concentration limits for foreign portfolio investors (FPIs) in corporate debt securities, in a move aimed at boosting foreign inflows. Previously, short-term investment cap required FPI’s investments in corporate debt with maturity of up to one year to not exceed …

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Indian watchmaker Titan’s CEO to retire, be replaced by jewellery division head

8 May 2025

(Reuters) -Indian jeweller and watchmaker Titan said on Thursday that Managing Director and CEO C. K. Venkataraman will retire at year-end, after more than 30 years with the company, and be succeeded by the head of the jewellery division, Ajoy Chawla. Venkataraman joined the company in 1990 and rose to the top in 2019, the …

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Indian broadcaster Zee Entertainment’s profit soars on subscription growth

8 May 2025

(Reuters) -India’s Zee Entertainment reported an 85% jump in fourth-quarter profit on Thursday, as higher subscriptions and more film releases offset weak advertising demand. Zee, which owns TV channels, produces movies and runs an online streaming platform, reported an 85% surge in consolidated pre-tax profit to 2.62 billion rupees ($30.65 million) for the three months …

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Exclusive-Forensic review found India’s IndusInd Bank executives traded shares before accounting disclosure, document shows

8 May 2025

By Aditya Kalra and Siddhi Nayak NEW DELHI/MUMBAI (Reuters) -A forensic review by audit and advisory firm Grant Thornton found two executives of India’s IndusInd Bank traded in its shares while they were aware of accounting lapses at the bank but before those were made public, a document reviewed by Reuters showed. India’s fifth-largest private …

Exclusive-Forensic review found India’s IndusInd Bank executives traded shares before accounting disclosure, document shows Read More »

India’s Paytm, founder settle with markets regulator in stock options case

8 May 2025

(Reuters) -Indian payments firm Paytm and its founder and CEO Vijay Shekhar Sharma have settled an employee stock options violations case with the country’s markets regulator, the Securities and Exchange Board of India said on Thursday. As part of the settlement, Sharma has been prohibited from accepting fresh employee stock options (ESOPs) from any listed …

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