Reuters India Business Archives - Page 324 of 1191

Gold’s record run gains further traction; market conquers $3,500/oz

22 Apr 2025 22 Apr 2025

By Ashitha Shivaprasad and Anjana Anil (Reuters) -Gold’s remarkable run higher is reaching new heights, with the market touching $3,500 per ounce as confidence in the U.S. economy further erodes after President Donald Trump’s renewed attack on the Federal Reserve chair. Spot gold was trading around $3,428 per ounce by 1417 GMT, after hitting a record $3,500.05 …

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HCLTech CEO signals opportunities despite expected tariff impact

22 Apr 2025 22 Apr 2025

By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) -HCLTech, India’s third-largest IT services company, posted slightly lower-than-estimated fourth-quarter revenue on Tuesday, but projected growth opportunities to emerge from the global macro overhang. The company expects “large opportunities” as clients use generative AI and other technologies to reduce costs in the tariff-driven environment, CEO C …

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India’s small steel mills pause job cuts after measures to curb Chinese imports

22 Apr 2025 22 Apr 2025

By Neha Arora and Amy Lv NEW DELHI (Reuters) -India’s smaller steel mills plan to delay job cuts and other measures such as trimming output, executives said, after the government imposed a temporary tariff to protect local producers from a surge in cheap imports, chiefly from China. On Monday, India, the world’s second-biggest producer of …

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Indian economy less vulnerable to global headwinds, says cenbank

22 Apr 2025 22 Apr 2025

MUMBAI (Reuters) -India’s economy is relatively less vulnerable to global headwinds, and calibrated policy support could help the country turn current volatility into an opportunity, the Reserve Bank of India said in its April bulletin released on Tuesday. “Although the dampening global economic outlook could impact India’s economic growth through weaker external demand, the domestic …

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Havells India beats quarterly profit estimates on high demand for air conditioners

22 Apr 2025 22 Apr 2025

(Reuters) -Home appliances and electrical goods maker Havells India reported fourth-quarter profit above analysts’ estimates on Tuesday, helped by demand for air conditioners ahead of the summer season. The company reported a profit of 5.18 billion rupees ($60.8 million) in the three months ended March 31, nearly 16% higher than a year ago. Analysts, on …

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India, Saudi Arabia exploring joint refinery, petrochemical projects, Modi says

22 Apr 2025 22 Apr 2025

NEW DELHI (Reuters) – India and Saudi Arabia are exploring joint projects in refineries and petrochemicals, Indian Prime Minister Narendra Modi told Arab News in an interview, as he began a two-day visit to the country on Tuesday. “We are now working on feasibility studies for electricity grid interconnectivity between India and Saudi Arabia and …

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India’s Airtel to buy 5G spectrum from Adani

22 Apr 2025 22 Apr 2025

(Reuters) -Indian telecom operator Bharti Airtel will buy 5G telecom spectrum from a unit of Adani Enterprises, the company said on Tuesday. Airtel and its unit Bharti Hexacom have signed agreements with Adani Data Networks to acquire rights to use 400 MHz of high-frequency spectrum across six circles including Gujarat, Mumbai and Andhra Pradesh. The …

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India’s Tata Communications posts quarterly profit growth on data services demand

22 Apr 2025 22 Apr 2025

(Reuters) -India’s Tata Communications reported a 15% rise in its fourth-quarter profit on Tuesday, helped by higher demand for its data services. The firm’s consolidated pre-tax profit for the January-to-March quarter rose to 3.36 billion rupees ($39.5 million) from 2.92 billion rupees a year earlier. Tata Communications, which provides services such as data connections and …

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India’s IndusInd Bank says conducting internal review of microfinance business

22 Apr 2025 22 Apr 2025

BENGALURU (Reuters) -IndusInd Bank’s internal audit team was reviewing “certain concerns” in the Indian lender’s microfinance business, the company said on Tuesday, about a month after it reported discrepancies in its currency derivatives. The bank, however, stopped short of disclosing what concerns were being investigated in the microfinance unit. The unit, which accounts for 9% …

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UBS resets India strategy with 360 ONE deal

22 Apr 2025 22 Apr 2025

By Selena Li and Hritam Mukherjee HONG KONG/BENGALURU (Reuters) – UBS said on Tuesday it would sell its Indian wealth business to 360 ONE WAM and take a stake of nearly 5%, worth some $220 million, in the Mumbai-based asset manager, adding that it might consider boosting its ownership. 360 ONE’s shares shot up 7% …

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