By Ananya Mariam Rajesh (Reuters) – India has become the next big bet for PepsiCo, Unilever and other packaged goods giants looking to fill the growth vacuum left by an uneven recovery in China. With India’s economy expanding at the fastest pace among major emerging markets, companies are trying to serve its diverse palate by …
From PepsiCo to P&G, India becomes next big growth bet as China lags Read More »
By Nandan Mandayam BENGALURU (Reuters) – Ola Electric Mobility’s shares surged 20% on their trading debut in Mumbai on Friday, valuing the company at $4.8 billion, as investors bet on increasing adoption of electric vehicles in the world’s largest market for two-wheelers. The stock had listed flat to its initial public offering (IPO) price of …
India’s Ola Electric surges 20% on debut on EV optimism Read More »
BENGALURU (Reuters) – Indian footwear retailer Metro Brands on Friday reported first-quarter profit and revenue that missed expectations due to muted wedding season demand. The company said its consolidated net profit after tax fell 1.2% to 917.3 million rupees ($10.93 million) in the June quarter from a year ago. Analysts, on average, had expected a …
India’s Metro Brands miss profit, sales estimates on muted wedding demand Read More »
BENGALURU (Reuters) – India’s Grasim Industries reported a first-quarter loss on Friday, as its newly-launched paint business hurt margins while it struggled to keep a lid on costs. Indian paint manufacturers are grappling with declining customer loyalty as consumers increasingly turn to more affordable options. In response, companies have been slashing prices in an effort …
India’s Grasim posts loss in Q1 as paint business drags margins Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Friday, led by information technology stocks after U.S. labour market data eased some of worries of a recession in the world’s top economy. The NSE Nifty 50 index rose 1.25% to 24,418.2 as of 9:49 a.m IST, and the S&P BSE Sensex added 1.29% to 79,902.51. …
Indian shares advance, led by IT on easing US recession worries Read More »
BENGALURU (Reuters) – Indian retailer Trent reported a two-fold jump in first-quarter profit on Friday, boosted by demand at its cheaper Zudio outlets, which cater to budget-conscious consumers. The retailer’s shares jumped 10% to a record high after the results. The Tata Group-owned company’s consolidated net profit rose to 3.93 billion rupees ($47 million) for …
Indian retailer Trent posts two-fold rise in profit, shares hit record high Read More »
BENGALURU (Reuters) – India Cements, in which market leader UltraTech Cement is taking majority control, posted a bigger first-quarter adjusted loss on Friday, hurt by subdued demand. The South India-focused company’s loss before exceptional items and tax increased to 1.62 billion rupees ($19.3 million) in the quarter, from 989.1 million rupees a year ago. The …
India Cements posts wider Q1 loss as subdued demand adds to pricing woes Read More »
BENGALURU (Reuters) – Indian drugmaker Zydus Lifesciences reported a bigger-than-expected first-quarter profit on Friday, driven by strong demand for its generic respiratory drugs in its key market of North America. The company’s consolidated net profit jumped nearly 31% year-on-year to 14.2 billion rupees ($169.2 million) in the quarter ended June 30, beat analysts’ average estimate …
India’s Zydus Lifesciences Q1 profit beats estimates on strong US demand Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Inflows into India’s equity mutual funds moderated in July to 371.13 billion rupees ($4.42 billion), easing off record high levels hit in the previous month, data from the Association of Mutual Funds in India (AMFI) showed on Friday. The sequential 9.4% drop in July from the previous month was due …
India’s equity mutual fund inflows ease off record high levels in July, data shows Read More »
By Rahul Paswan (Reuters) – Gold prices rose more than 1% on Thursday, supported by firm safe-haven demand and growing expectations for a sizeable interest rate cut from the U.S. Federal Reserve in September. Spot gold rose 1.8% to $2,423.25 per ounce by 1758 GMT, snapping a five-session losing streak. U.S. gold futures settled 1.3% …
Gold rises more than 1% on safe-haven demand, Fed rate-cut optimism Read More »
