Reuters India Business

IndusInd Bank CEO quits as accounting lapse triggers management shakeup

29 Apr 2025

By Siddhi Nayak, Nandan Mandayam and Nishit Navin (Reuters) -Indian private lender IndusInd Bank said on Tuesday CEO Sumant Kathpalia has resigned with immediate effect, marking a management shakeup following a derivatives accounting lapse that has hit the bank’s net worth. Kathpalia is the second top executive to resign in two days after his deputy …

IndusInd Bank CEO quits as accounting lapse triggers management shakeup Read More »

India’s Adani Green aims 5 GW of clean energy addition in FY26 at $3.6 billion capex

29 Apr 2025

By Sethuraman N R (Reuters) – India’s Adani Green Energy plans to spend 310 billion rupees ($3.64 billion) in capital expenditure to add 5 gigawatts of clean energy in the current fiscal year, CEO Ashish Khanna said on Tuesday. The capacity addition target is over 50% higher than last year. “We have a comprehensive capital …

India’s Adani Green aims 5 GW of clean energy addition in FY26 at $3.6 billion capex Read More »

India queries Apple, Xiaomi in e-commerce probe of Amazon, Flipkart, sources say

29 Apr 2025

By Aditya Kalra NEW DELHI (Reuters) -India’s financial crime agency has privately sought sales data and other documents from smartphone players including Apple and Xiaomi as part of an investigation into Amazon and Walmart-owned Flipkart, sources familiar with the matter told Reuters. The agency’s queries come in the backdrop of India and the United States …

India queries Apple, Xiaomi in e-commerce probe of Amazon, Flipkart, sources say Read More »

India’s CEAT misses quarterly profit estimates on higher rubber prices

29 Apr 2025

(Reuters) -Indian tyre maker CEAT missed fourth-quarter profit estimates on Tuesday, hurt by surging rubber costs. The company’s consolidated net profit fell 8.4% to 994.9 million rupees ($11.69 million) during the quarter from 1.09 billion rupees a year ago. Analysts on average were expecting profit of 1.12 billion rupees, according to data compiled by LSEG. …

India’s CEAT misses quarterly profit estimates on higher rubber prices Read More »

India’s Shoppers Stop posts over 91% fall in quarterly profit on muted demand

29 Apr 2025

(Reuters) -Indian departmental store chain Shoppers Stop on Tuesday posted a more than 91% decline in fourth-quarter profit, as consumers dealing with high cost of living in urban centers cut back on discretionary spending. The company, which is a retailer of brands such as Armani Exchange and Michael Kors, reported consolidated net profit of 19.9 …

India’s Shoppers Stop posts over 91% fall in quarterly profit on muted demand Read More »

India’s market regulator issues norms for withdrawing an ESG rating

29 Apr 2025

(Reuters) -India’s market regulator on Tuesday issued norms for withdrawing an ESG rating, weeks after its chief told Reuters it is reviewing the reporting requirements on environment for listed companies. The regulator also provisioned norms for ESG rating agencies, according to a filing. The ESG ratings providers can withdraw rating on a listed company if …

India’s market regulator issues norms for withdrawing an ESG rating Read More »

India’s Bajaj Finance post higher quarterly profit on tax reversal, loan growth

29 Apr 2025

(Reuters) -Bajaj Finance, India’s biggest non-banking financial company (NBFC), reported a higher fourth-quarter profit on Tuesday, helped by healthy loan growth and a tax reversal. The company’s consolidated net profit jumped 17% to 44.80 billion rupees ($526.4 million), helped in part by a nearly 3.5-billion-rupee cut in its tax bill for the previous few years. …

India’s Bajaj Finance post higher quarterly profit on tax reversal, loan growth Read More »

Close Bitnami banner
Bitnami