Reuters India Business

BENGALURU (Reuters) -India’s Adani Ports and Special Economic Zone reported a 47% jump in quarterly profit on Thursday, as strong commercial activity in the world’s fifth-largest economy lifted cargo volumes. Shares of the Adani Group company were up 1.2% after the results, while the broader benchmark Nifty 50 gained 0.2%. India’s largest private port operator …

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BENGALURU (Reuters) – Akzo Nobel India reported a 4.3% rise in its first-quarter profit on Thursday, as demand for its paint products across different verticals picked up in June ahead of the monsoon. The maker of Dulux Paints said its consolidated net profit rose to 1.15 billion rupees ($13.74 million) in the quarter ended June …

Paint maker Akzo Nobel India reports Q1 profit rise on higher demand Read More »

By Anjana Anil and Anushree Ashish Mukherjee (Reuters) – Gold prices extended gains on Wednesday after Federal Reserve Chair Jerome Powell hinted that an interest rate cut could be on the table as early as September if inflation stays in line with expectations. Spot gold was up 1.2% at $2,437.39 per ounce as of 3:21 …

Gold climbs over 1% after Fed’s Powell hints at early rate cut Read More »

By Haripriya Suresh BENGALURU (Reuters) -Indian IT services company Infosys has received a tax demand of about $4 billion from the country’s tax authority, a tax authority document seen by Reuters showed. The demand relates to services received by Infosys from its overseas branches in various foreign countries and these so-called “import of services” are …

Indian IT services giant Infosys gets $4 billion tax demand Read More »

By Siddhi Nayak MUMBAI (Reuters) – Top Indian private lenders are seeing more farmers and rural borrowers delay loan repayments as unpredictable weather impacts output and rising agricultural costs stretch their incomes further, according to quarterly earnings reports and a dozen bankers. The largest five private banks have reported greater bad loan additions in the …

India’s top private lenders see farm loan defaults rising amid weak rural economy Read More »

BENGALURU (Reuters) – India’s Mahindra & Mahindra (M&M), on Wednesday, reported a 23% jump in adjusted profit for the first quarter, helped by an increase in sales of its sport utility vehicles (SUVs) and a rebound in demand for tractors. The company’s standalone net profit rose to 26.13 billion rupees ($312 million) in the quarter, …

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BENGALURU (Reuters) -India’s Zee Entertainment Enterprises reported a first-quarter profit on Wednesday, led by growth in its subscriber base. The broadcaster reported a consolidated net profit of 1.18 billion rupees ($14.1 million) for the quarter ended June 30, compared with a loss of 534.2 million rupees a year ago. The company’s subscription revenue increased 9% …

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