Reuters India Business

India’s TVS Motor beats quarterly profit estimates on strong demand

28 Apr 2025

(Reuters) -Indian automaker TVS Motor Company reported a better-than-expected fourth-quarter profit on Monday, led by steady demand for its two-wheelers and continued growth in exports. Profit rose 75.5% to 8.52 billion rupees ($100.2 million) in the quarter ending March 31, beating analysts’ estimate of 7.47 billion rupees, per data compiled by LSEG. Total two-wheeler sales …

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Buoyant equities help boost rupee, technical resistance limits gains

28 Apr 2025

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee logged its best day in more than two weeks on Monday, aided by likely portfolio inflows into local equities while a key technical resistance near its year-to-date peak limited the currency’s rally. The rupee touched a peak of 84.98 against the U.S. dollar before ending the …

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Indian shares rise as Reliance results, foreign inflows boost sentiment

28 Apr 2025

By Vivek Kumar M and Bharath Rajeswaran (Reuters) -Indian shares rose on Monday, lifted by better-than-expected earnings from Reliance Industries and steady foreign inflows, helping markets shrug off some risk-off sentiment amid India-Pakistan tensions. The Nifty 50 added 1.2% to 24,328.5 and the BSE Sensex gained 1.27% to 80,218.37. Reliance Industries jumped 5.26% and hit …

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India’s Reliance jumps as telecom, retail boost brightens outlook

28 Apr 2025

By Hritam Mukherjee (Reuters) -Shares of India’s Reliance Industries jumped 4% on Monday as investors cheered strength in its telecom and retail businesses after a quarterly profit beat, prompting analysts to upgrade the stock after months of underperformance. Over the last year, the billionaire Mukesh Ambani-led conglomerate has done worse than India’s benchmark Nifty 50 …

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Rupee traders to track Kashmir attack developments, local equities

28 Apr 2025

By Nimesh Vora MUMBAI (Reuters) -The Indian rupee looked set for a muted opening on Monday, with traders scanning headlines around the Kashmir attack and the movement in local equities for direction. The 1-month non-deliverable forward indicated that the rupee will open flat-to-slightly higher from its previous close of 85.45. The local unit saw sharp …

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India’s IndusInd Bank to take $230 million hit in 2024-25 accounts

27 Apr 2025

NEW DELHI (Reuters) -IndusInd Bank, India’s fifth-largest private lender by assets, said on Sunday it would take a $229.56 million hit to its accounts for the financial year ended March 31, 2025 because of the incorrect treatment of derivatives going back several years. The bank is due to report earnings for the full financial year …

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India’s Mahindra to buy majority of truck and bus maker SML Isuzu for $65 million

26 Apr 2025

NEW DELHI (Reuters) -India’s Mahindra & Mahindra, known for its muscular SUVs and tractors, said on Saturday it had entered into a deal to buy a 58.96% stake in SML Isuzu for 5.55 billion rupees ($65.00 million) to bolster its truck and bus business. The acquisition will double Mahindra’s market share in the trucks and …

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India urging firms to acquire overseas iron ore, coking coal assets, official says

26 Apr 2025

By Neha Arora MUMBAI (Reuters) – India is encouraging companies to acquire iron ore, coking coal, and other key raw material assets overseas, Steel Secretary Sandeep Poundrik said on Saturday, as the country ramps up its steelmaking capacity to meet rising demand. “We are encouraging our companies to acquire assets abroad, right from iron ore …

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