Reuters India Business

India’s SBI Card quarterly profit declines on higher bad loan provisions

24 Apr 2025

(Reuters) -India’s SBI Cards and Payment Services reported a decline in fourth-quarter profit on Thursday, hurt by higher provisions for bad loans. The credit card services company’s profit after tax fell 19% to 5.34 billion rupees (nearly $63 million) for the quarter ended March 31. Indian lenders have been struggling with asset quality stress, especially …

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Indian equity benchmarks snap winning run on risk-off after Kashmir attack

24 Apr 2025

By Vivek Kumar M and Bharath Rajeswaran (Reuters) -India’s equity benchmarks snapped a seven-session winning run on Thursday as investors turned risk-averse after a deadly militant attack on tourists in Kashmir heightened geopolitical risks in the region. India announced a raft of measures to downgrade its ties with Pakistan on Wednesday, and Prime Minister Narendra …

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Rupee gains on exporters’ dollar sales, holds on to key support level

24 Apr 2025

By Siddhi Nayak MUMBAI (Reuters) -The Indian rupee ended higher on Thursday as speculators failed to take the unit below a well-recognised support level, with dollar sales by exporters also helping. The rupee ended 0.2% higher at 85.26 to the U.S. dollar, compared to its previous close of 85.42. The local unit had slipped to …

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India’s Delhi plans to curb gasoline car sales, ban gas-guzzling bikes to shed polluter tag

24 Apr 2025

By Aditi Shah NEW DELHI (Reuters) -India’s capital New Delhi plans to limit gasoline and diesel-powered cars a family can buy as well as ban sales of fuel-guzzling motorbikes and scooters, according to a draft policy aimed at cleaning up one of the world’s most polluted cities. The measures represent one of the most drastic …

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India confident of achieving steel production target by 2030, official says

24 Apr 2025

By Neha Arora MUMBAI (Reuters) -India will achieve its target of expanding steel production capacity to 300 million tons by 2030, the Steel Secretary Sandeep Poundrik said on Thursday, as the government seeks to reduce import dependence and support domestic industry. The country, the world’s second-largest producer of crude steel, has imposed a temporary 12% …

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Indian cement maker ACC’s quarterly profit falls on rising costs

24 Apr 2025

-Indian cement maker ACC reported a marginally lower fourth-quarter profit on Thursday as higher expenses outweighed rising sales volumes in a seasonally strong quarter. The Adani group firm reported a 1.8% fall year-on-year in profit after tax to 7.35 billion rupees ($86.1 million) for the January to March quarter. Its sales volumes rose 14% on-year, …

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Databricks to boost hiring, invest $250 million in India for AI expansion

24 Apr 2025

(Reuters) -Data analytics firm Databricks said on Thursday it will ramp up hiring and invest more than $250 million in India, doubling down on the country’s artificial intelligence talent pool and growing AI investments. The San Francisco-based company will increase its headcount by over 50% to more than 750 employees in India by the end …

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Unilever, Nestle margins take a hit in India as costs, demand slowdown weigh

24 Apr 2025

By Shivani Tanna, Ananta Agarwal and Praveen Paramasivam (Reuters) -India’s top consumer goods makers Hindustan Unilever (HUL) and Nestle India reported weaker fourth-quarter profits on Thursday, with HUL cutting its margin forecast amid high input costs and sluggish urban demand. A surge in the cost of living and slow wage raises in India have eroded …

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India’s NSE toughens rules for small firms shifting to main board

24 Apr 2025

(Reuters) -India’s National Stock Exchange on Thursday tightened rules for small companies on its SME platform seeking to move to the main board, requiring at least 1 billion rupees in annual revenue to qualify. The move comes months after India’s markets regulator issued tighter regulations for merchant bankers and initial public offerings by small businesses. …

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India’s forex, interest rate traders turn cautious after Kashmir attack

24 Apr 2025

By Nimesh Vora and Dharamraj Dhutia MUMBAI (Reuters) -India’s foreign exchange and interest rate traders have turned cautious on fears of a possible escalation in tensions between New Delhi and Islamabad following a deadly militant attack in India’s Kashmir region. Suspected militants killed 26 men at a tourist destination in Kashmir on Tuesday in the …

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