Reuters India Business

India’s Bank of Baroda expects margin pressure to persist for two more quarters

6 May 2025

By Nishit Navin, Siddhi Nayak and Kashish Tandon BENGALURU (Reuters) -India’s Bank of Baroda expects margin pressure to continue through the second quarter of this fiscal, after a drop in fourth-quarter margins and core lending income sent its shares tumbling over 10% on Tuesday. The company’s net interest income, or the difference between interest earned …

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Rupee ends lower on foreign banks’ dollar bids, dip in regional peers

6 May 2025

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee slipped on Tuesday, tracking mild losses in regional peers and dollar demand from foreign banks, though broader weakness in the greenback limited the decline. The rupee closed at 84.4325 against the U.S. dollar, down 0.2% on the day. The offshore Chinese yuan retreated from a near …

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India’s IPO market loses steam on uncertain outlook; Ather stumbles

6 May 2025

By Vivek Kumar M and Shivani Tanna (Reuters) -At least two initial public offerings worth $759 million are expected to be delayed, adding to a growing list of Indian companies deciding to postpone plans for initial public listings due to weak investor sentiment, investment bankers say. Education loan provider Avanse Financial Services and contract drug …

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Financials drag Indian benchmarks lower on profit booking, Bank of Baroda earnings

6 May 2025

By Bharath Rajeswaran and Vivek Kumar M (Reuters) – India’s equity benchmark indexes inched lower on Tuesday, dragged by financials as investors booked profits after recent gains, while weak earnings from state-run Bank of Baroda also weighed. The Nifty 50 fell 0.33% to 24,379.6 and the BSE Sensex lost 0.19% to 80,641.07. The broader, more …

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India’s Kajaria Ceramics misses fourth-quarter profit view, exits plywood business

6 May 2025

(Reuters) -India’s Kajaria Ceramics reported fourth-quarter profit well below expectations on Tuesday due to lacklustre prices and demand for its tiles, and said it will discontinue its loss-making plywood business. The company’s consolidated net profit dropped more than 58% to 425.2 million rupees ($5 million) in the quarter ended March 31. Analysts, on average, had …

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India’s Alembic Pharma’s quarterly profit drops on tax expense

6 May 2025

(Reuters) -Indian drugmaker Alembic Pharmaceuticals reported a 12% fall in fourth-quarter profit on Tuesday, hurt by a deferred tax expense that offset the impact of strong sales in its key U.S. and domestic markets. The company’s consolidated profit fell to 1.57 billion rupees (nearly $19 million) in the quarter ended March 31, from 1.78 billion …

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India’s SAIL to import trial coking coal cargo from Mongolia, maybe by air

6 May 2025

By Neha Arora NEW DELHI (Reuters) -India’s state-run Steel Authority of India Ltd plans to import a trial cargo of coking coal from Mongolia this month and may transport the sample by air to speed up testing, two sources familiar with the matter said. The move is part of SAIL’s efforts to diversify its coking …

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Polycab India beats quarterly profit estimates on high demand for wires, cables

6 May 2025

(Reuters) -Polycab India reported a stronger-than-expected fourth-quarter profit on Tuesday, buoyed by robust demand for its wires and cables from the real estate and power transmission sectors. The company’s consolidated net profit surged 33% to 7.27 billion rupees ($86.14 million) in the three-month period ended March 31. Analysts, on average, had expected a profit of …

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India’s April diesel exports likely hit lowest level in over a decade, sources say

6 May 2025

By Trixie Yap and Mohi Narayan SINGAPORE (Reuters) -India’s diesel exports likely hit their lowest level in over a decade in April as major exporter Reliance cut refining output for maintenance at a time when domestic demand was robust, trade sources and analysts said. India, one of Asia’s top-three diesel exporters, exported around 1.15 million …

India’s April diesel exports likely hit lowest level in over a decade, sources say Read More »

Indian e-scooter maker Ather Energy falls in market debut

6 May 2025

By Kashish Tandon (Reuters) -Ather Energy’s shares fell 3.3% in their market debut on Tuesday, reversing slight gains from the open, on worries over the company’s ability to weather intensifying competition in the electric two-wheeler industry. The stock opened at 328 rupees on the National Stock Exchange of India, 2% higher than its offer price …

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