BENGALURU (Reuters) – Toyota Kirloskar Motor (TKM) said on Wednesday it had signed a memorandum of understanding with the Indian state of Maharashtra to potentially set up a green field manufacturing facility there. The company, a joint venture between Toyota Motor Corp and Kirloskar Group, manufactures and sells Toyota cars in India. TKM said it …
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% …
India’s Zee Entertainment reports Q1 profit on subscriber growth Read More »
HANOI (Reuters) – India’s Adani Group is considering investing in two airports in Vietnam, the Vietnamese government said on Wednesday, weeks after the company revealed it had permission to build a seaport in the country. The government statement comes after a meeting in Delhi on the same day between Vietnamese Prime Minister Pham Minh Chinh …
India’s Adani Group considers investing in Vietnam’s airports Read More »
BENGALURU (Reuters) – India’s state-owned Bharat Heavy Electricals (BHEL) reported a slightly wider first-quarter loss on Wednesday, as higher expenses overshadowed demand growth for power equipment, sending its shares 1.2% lower. The power and industrial equipment manufacturer reported a net loss of 2.13 billion rupees ($25.44 million) for the quarter ended June 30 from a …
India’s BHEL posts slightly bigger quarterly loss as expenses spike Read More »
BENGALURU (Reuters) – India’s Ambuja Cements reported a smaller than expected fall in its first-quarter profit on Wednesday, as a tight lid on costs helped offset weak demand. The Adani group-company’s profit after tax slipped 12% to 5.71 billion rupees ($68.2 million) in the three months ended June 30, but stayed above analysts’ average estimate …
India’s Ambuja Cements Q1 profit falls less-than-expected Read More »
By Krishna N. Das and Saurabh Sharma NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi, smarting from setbacks in the April-June general election, is now being berated for last week’s budget by the country’s swing voters, the middle class, putting his party on the defensive ahead of polls in three states and a federal …
By Rahul Paswan (Reuters) – Gold prices gained around 1% on Tuesday as investors remained optimistic that the U.S. Federal Reserve could drop clues about lowering interest rates in September at the end of the policy meeting this week. Spot gold was up 0.8% at $2,403.47 per ounce as of 1747 GMT. U.S. gold futures …
Gold climbs on rate cut hopes as Fed meeting looms Read More »
By Dhwani Pandya and Jayshree P Upadhyay MUMBAI (Reuters) -Abu Dhabi Investment Authority and Qatar Investment Authority have invested in Adani Energy Solutions’ share sale in India of up to $1 billion, two sources said, its first such deal since a scathing report from short-seller Hindenburg Research last year. The deal marks Adani Group’s first …
By Jayshree P Upadhyay MUMBAI/BENGALURU (Reuters) -India’s markets regulator on Tuesday proposed a series of measures to curb a trading frenzy in options, including raising the minimum trading amount by over three times, reducing the number of contracts expiring each week and hiking trading margins. The steps, which follow an increase in tax on derivative …
India markets regulator proposes slew of measures to curb options trading frenzy Read More »
BENGALURU (Reuters) -Sapphire Foods India, which operates the Pizza Hut and KFC chains of restaurants, reported a larger-than-expected decline in its first-quarter profit on Tuesday, as costs rose while it struggled to entice budget-conscious customers. The Yum Brands franchisee reported a consolidated net profit of 85.2 million rupees ($1.02 million) for the quarter ended June …
Pizza Hut India operator misses Q1 estimates on weak demand, surging costs Read More »
