(Reuters) – India’s Adani Wilmar reported a two-fold surge in third-quarter profit on Monday, buoyed by higher demand in its core edible oils segment. The consumer goods company, which makes the Fortune brand of cooking oil, reported a consolidated net profit of 4.11 billion rupees ($47.56 million) for the quarter ended Dec. 31 from 2.01 …
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee resumed its downtrend on Monday, pegged by likely equity outflows and corporate hedging. The rupee quoted at 86.3675 to the U.S. dollar at 11:24 am IST, down from 86.2050 on Friday. The local currency had managed a 0.5% recovery last week, hitting the highest in two …
Rupee back to losing ways on likely outflows, corporate hedging Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – The Reserve Bank of India’s unexpected purchase of government bonds pushed down bond yields on Monday and raised bets for a cut in interest rates in February, investors said. The central bank’s bond purchases accompanied daily overnight repo auctions. Both operations boost the quantity of money in the banking …
India central bank’s bond purchases raise bets of February rate cut, investors say Read More »
(Reuters) -Shares of IDFC First Bank fell as much as 8% on Monday to their lowest in 21 months after the private lender said its third-quarter profit more than halved, hurt by delinquencies in microfinance loans. The stock was on track for its biggest one-day percentage decline since June 4. On Saturday, the Mumbai-based mid-sized …
India’s IDFC First Bank hits 21-month low as microfinance stress hits Q3 profit Read More »
NEW DELHI (Reuters) -India’s finance ministry is inviting applications from qualified candidates to head the country’s markets regulator, the Securities and Exchange Board of India (SEBI), it announced in a newspaper advertisement on Monday. The term of the current chief, Madhabi Puri Buch, who was appointed in March 2022 for a period of three years, …
India finance ministry advertises for new market regulator chief Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – The Reserve Bank of India (RBI) made net purchases of government bonds in the secondary market last week, marking the first such operation in over three years, data released on Friday showed. The RBI net bought bonds worth 101.75 billion rupees ($1.18 billion) in the week ending Jan. 17. …
India central bank opts for bond purchases in week to Jan 17 Read More »
MUMBAI (Reuters) – ICICI Bank, India’s second-largest private lender by assets, reported higher quarterly profit on Saturday, helped by healthy loan growth and net interest income, although its lending margins shrank. The bank’s standalone net profit rose 14.8% to a record 117.92 billion rupees ($1.37 billion) in the October-December quarter, above the average analyst forecast …
India’s ICICI Bank reports higher quarterly profit, helped by healthy loan growth Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s Religare Enterprises said a U.S. businessman has made a proposal to acquire a 26% stake in it, the latest twist in the battle for control of the financial services company which has rejected another bid as being priced too low. The Indian billionaire Burman family, which has …
India’s Religare says US businessman makes competing offer for stake Read More »
By Anjana Anil (Reuters) – Gold prices climbed over 1% on Friday, closing in on its all-time-high hit in October, as a weakening dollar on U.S. President Donald Trump’s push for lower rates and tariff uncertainty drove the metal towards its fourth straight weekly rise. Spot gold was up 0.7% at $2,772.79 per ounce by …
Gold poised to overtake record peak as dollar drops on Trump remarks Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s antitrust watchdog has sought additional information and documents from Delhi city authorities as it steps up an investigation into allegations of competition law violations by France’s Pernod Ricard, a government document shows. The Competition Commission of India (CCI) has since last year been reviewing accusations that Pernod, …
India antitrust body seeks official documents in Pernod Ricard probe Read More »
