Reuters India Business

By Ananta Agarwal and Shivani Tanna (Reuters) -Indian apparel retailer Trent on Tuesday reported that its fourth-quarter adjusted profit more than doubled, helped by strong sales of its trendy designs and firmer operating margins. The Tata Group-owned company reported a consolidated profit of 3.18 billion rupees ($37.34 million) in the fourth quarter, compared to last …

Indian apparel retailer Trent’s adjusted Q4 profit doubles on firm sales, margins Read More »

(Reuters) -India’s markets regulator will extend by six months a deadline for certain stock brokers to offer an optional same-day settlement cycle, it said on Tuesday, after receiving feedback from multiple stakeholders. The Securities and Exchange Board of India (SEBI) had initially asked the brokers to offer a same-day or T+0 settlement cycle by May …

India markets regulator extends deadline for same-day settlement plan for brokers Read More »

By Jaspreet Kalra and Ashwin Manikandan MUMBAI/NEW DELHI (Reuters) -India’s payments authority, the central bank, and industry are pushing the government to allow a fee on digital payments to large merchants made via its homegrown network to help boost growth, five sources told Reuters. The charge, known as Merchant Discount Rate (MDR), is considered crucial …

Indian authorities keen to charge merchants fees to bolster homegrown payments network, sources say Read More »

By Manoj Kumar NEW DELHI (Reuters) -Trade tensions and geopolitical risks pose a challenge to India’s economic growth in the fiscal year that started this month, potentially disrupting supply chains and pushing up prices, a finance ministry report said. “Uncertainties stemming from global developments constitute a key risk for the growth outlook for fiscal year …

India’s growth outlook at risk from trade tensions and geopolitical risks, government says Read More »

(Reuters) -India’s state-run refiner Bharat Petroleum Corp (BPCL) reported a smaller-than-expected fourth-quarter profit decline on Tuesday, helped by a dip in crude oil prices. Standalone net profit fell 24% to 32.14 billion rupees (about $377 million), while analysts expected 29.70 billion rupees, as per data compiled by LSEG. Revenue from operations fell 4% to 1.27 …

India’s BPCL posts smaller-than-expected fall in quarterly profit Read More »

(Reuters) -India’s Ambuja Cements reported a 74.5% jump in fourth-quarter profit on Tuesday, helped by growth in sales volumes in a seasonally strong quarter. Profit after tax rose to 9.29 billion rupees ($109 million) in the quarter ended March 31. Overall revenue rose 19%, with sales volumes growing 13%. Shares of the company were last …

India’s Ambuja Cements posts 75% jump in quarterly profit boosted by volumes Read More »

By Dharamraj Dhutia MUMBAI (Reuters) -The Reserve Bank of India’s plan to buy 1.25 trillion rupees ($14.66 billion) of bonds in May will likely lower the cost of overnight interbank funds, effectively acting as a rate cut, according to analysts. The debt purchases are likely to increase the liquidity in the banking system, helping transmit …

Indian central bank’s debt buying binge to act as de facto rate cut, analysts say Read More »