(Reuters) -The Indian government has relaxed new property tax rules it proposed just two weeks ago, after criticism that the changes added to an already heavy financial burden on the middle class. On July 23, India lowered the long-term capital gains tax on real estate to 12.5% from 20%, but dropped a benefit that allowed …
Indian government eases new property tax rules after backlash Read More »
By Sarita Chaganti Singh (Reuters) -The Indian government has appointed CS Setty as chairman of the State Bank of India, according to a document seen by Reuters on Tuesday. The tenure of Setty, who will succeed Dinesh Khara, will be for a period of three years starting on or after Aug. 28, the document said. …
India appoints CS Setty as SBI chairman, document shows Read More »
BENGALURU (Reuters) – Auto parts-maker Bosch, the Indian unit of German automotive supplier Robert Bosch GmbH, reported its smallest profit climb in the last five quarters on Tuesday as its inventory built up due to slow retail sales of cars. Its net profit rose almost 14% year-on-year to 4.66 billion rupees ($55.5 million) in the …
India’s Bosch posts smallest rise in profit in five quarters Read More »
BENGALURU (Reuters) – Indian two-wheeler maker TVS Motor Company reported a better-than-expected first-quarter profit on Tuesday, led by firm demand for its two-wheelers and strong margins. The company, which makes the Jupiter brand of scooters and the Apache line of motorcycles, said its profit rose 23.5% to 5.77 billion rupees ($68.77 million) in the quarter …
India’s TVS Motor beats Q1 profit view on strong demand, margins Read More »
NEW DELHI (Reuters) – India’s highways authority said on Tuesday it plans to monetise up to $4 billion worth of road projects in the current fiscal year ending March through an infrastructure investment trust route as it looks for ways to reduce its massive debt. The state-owned National Highways Authority of India (NHAI) has an …
India’s road-building authority aims to monetise up to $4 billion of assets in 2024/25 Read More »
BENGALURU (Reuters) – Indian mining group Vedanta’s reported a bigger-than-expected first-quarter profit on Tuesday, reflecting higher prices of aluminium and zinc, its biggest two businesses. The conglomerate, led by billionaire Anil Agarwal, said its consolidated net profit surged 37% to 36.06 billion rupees (around $430 million). Analysts on average were expecting a profit of 24.83 …
Indian miner Vedanta tops Q1 profit estimates on higher aluminium, zinc prices Read More »
BENGALURU (Reuters) – India’s Bajaj Electricals posted a smaller-than-expected first-quarter profit on Tuesday, hurt by dampened demand for kitchen appliances and price erosion in key lighting segment. Its consolidated net profit fell 25% to 281.1 million rupees ($3.4 million) for the quarter ended June 30, missing consensus analysts expectation of 323 million rupees, as per …
India’s Bajaj Electricals Q1 profit misses view on sluggish appliances demand Read More »
(This Aug. 5 story has been corrected to fix the milestone in paragraph 8, and to say that palladium hit its lowest levels since July 2017, and not August 2018, in the first bullet ) By Anushree Ashish Mukherjee (Reuters) – Gold fell more than 1% on Monday, caught in the slipstream of a global, …
Gold slips over 1% as wider market rout spills over (Aug 5) Read More »
BENGALURU (Reuters) – Shree Cement, India’s third-largest cement maker by market capitalisation, reported on Tuesday a first-quarter profit that missed estimates due to lower demand and prices. The company said its profit for the quarter ended June 30 stood at 3.18 billion rupees ($37.9 million), missing analysts’ estimates of 5.25 billion rupees, per LSEG data. …
India’s Shree Cement Q1 earnings misses estimates Read More »
BENGALURU (Reuters) – 3M India reported on Tuesday a 22% jump in its first-quarter profit, as a decrease in total expenses helped lift the diversified products maker’s bottomline. The company, which makes everything from ‘Post-it’ notes to power tools, reported a consolidated profit after tax of 1.57 billion rupees ($18.7 million) for the quarter ended …
3M India’s quarterly profit jumps 22% as expenses ease Read More »
