Reuters India Business

India’s infrastructure output grows 4% on-year in December

31 Jan 2025

BENGALURU (Reuters) -India’s infrastructure output growth slowed in December, as the rise in cement output eased, government data showed on Friday. Infrastructure output, which tracks activity across eight sectors and makes up 40% of the country’s industrial production, grew 4% year-on-year in December, against a revised 4.4% in November. Infrastructure output grew 4.2% in April-December, …

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Indian solar module maker Waaree confident of US demand despite Trump policy worries, CEO says

31 Jan 2025

By Sethuraman N R (Reuters) – Indian solar module maker Waaree Energies is confident of U.S. demand and is positioned to manage possible import tariffs under President Donald Trump, thanks to its operations in the state of Texas, CEO Amit Paithankar said on Friday. Last week, Trump ordered a pause on spending from his predecessor’s …

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India’s IndusInd Bank sees microfinance stress stabilising from Q1 of next fiscal year

31 Jan 2025

By Siddhi Nayak and Nishit Navin BENGALURU/MUMBAI (Reuters) -India’s IndusInd Bank on Friday said it expects to see stress in the microfinance segment stabilising from the first quarter of the next fiscal year, after it reported a drop in third-quarter profit due to delinquencies in these loans. “We remain cautious on the microfinance segment. While …

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Traders offer March-delivery Russian oil to India at narrower discounts, sources say

31 Jan 2025

By Nidhi Verma NEW DELHI (Reuters) – Traders have resumed offers of Russian crude cargoes to Indian refiners at narrower discounts after a delay triggered by recently imposed U.S. sanctions that have pushed up trading costs, Indian refining sources said on Friday. Washington earlier this month imposed sweeping sanctions targeting Russian producers and tankers, disrupting …

Traders offer March-delivery Russian oil to India at narrower discounts, sources say Read More »

India’s April-Dec fiscal deficit at 56.7% of full-year target

31 Jan 2025

BENGALURU (Reuters) – India’s fiscal deficit for April-December was 9.14 trillion rupees ($105.58 billion), or 56.7% of the estimate for the financial year, government data showed on Friday. Net tax receipts for the first nine months of the current financial year were at 18.43 trillion rupees, or 71.3% of the annual target, compared with 17.3 …

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Indian banks’ loan growth drops for sixth month in December as tighter lending curbs weigh

31 Jan 2025

MUMBAI (Reuters) – Indian banks’ loan growth moderated for a sixth straight month in December, central bank data showed on Friday, as the impact of the Reserve Bank of India’s tighter lending norms for unsecured loans continued to ripple through the system. The data showed that banks’ credit increased by 12.4% year-on-year last month, slower …

Indian banks’ loan growth drops for sixth month in December as tighter lending curbs weigh Read More »

India’s Nifty posts longest monthly losing run in 23 years; all eyes on budget

31 Jan 2025

By Bharath Rajeswaran (Reuters) -India’s equity benchmarks rose on Friday on investor optimism a day ahead of the federal budget, but the Nifty 50 ended January with its longest monthly losing streak in over 23 years, hit by hefty foreign sales and concerns over corporate earnings in a slowing economy. The Nifty 50 closed 1.11% …

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India’s Vedanta beats Q3 core profit estimates on high metal prices

31 Jan 2025

(Reuters) – Indian miner Vedanta reported third-quarter core profit above market estimates on Friday, propelled by a strong showing in its aluminium and zinc businesses. Shares of the company, which were only marginally higher ahead of the results, closed up 2.1%. The metals-to-oil conglomerate reported core profit, or earnings before interest, taxes, depreciation and amortization …

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Top Indian drugmaker Sun Pharma’s Q3 profit beats estimates on strong local sales

31 Jan 2025

By Kashish Tandon and Rishika Sadam HYDERABAD/BENGALURU (Reuters) -Sun Pharmaceutical, India’s largest drugmaker by revenue, reported a bigger-than-expected quarterly profit on Friday, aided by strong sales in the domestic market. The Mumbai-based firm’s consolidated net profit rose 15% to 29.03 billion rupees ($335.3 million) in the third quarter, beating analysts’ average estimate of 28.81 billion …

Top Indian drugmaker Sun Pharma’s Q3 profit beats estimates on strong local sales Read More »

India’s UPL swings to Q3 profit on higher agrochemical demand, subdued costs

31 Jan 2025

(Reuters) – India’s UPL swung to quarterly profit on Friday helped by higher demand for agrochemical products following an above-average monsoon, while its costs fell. The company reported a consolidated net profit of 8.28 billion rupees ($96 million) for the three months ended Dec. 31 against a loss of 12.17 billion rupees a year earlier. …

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