Reuters India Business

Indian refiner HPCL’s Q3 profit misses view on lower margins, LPG Losses

23 Jan 2025

(Reuters) – Indian refiner Hindustan Petroleum Corp Ltd (HPCL) reported a smaller-than-expected rise in quarterly profit on Thursday, hurt by lower marketing margins and losses in its liquefied petroleum gas (LPG) segment. The state-owned firm’s standalone net profit rose nearly six fold to 30.23 billion rupees ($350 million) in the third quarter ended Dec. 31, …

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India set to raise farm budget by over 15%, biggest increase in six years

23 Jan 2025

By Manoj Kumar and Mayank Bhardwaj NEW DELHI (Reuters) – India plans to increase spending for the agriculture sector by about 15% to around $20 billion in next month’s budget, two government sources said, marking the biggest increase in six years, as it tries to boost rural incomes and curb inflation. The additional cash would …

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US fintech firm Broadridge to boost India headcount by 26% in 3 years, top exec says

23 Jan 2025

By Sai Ishwarbharath B BENGALURU – U.S. fintech firm Broadridge Financial will expand its India tech staff by 26% to 6,800 people over three years as it gears up to sell its products in the world’s most populous nation, a top executive told Reuters. The firm, which counts JPMorgan Chase & Co, Bank of America …

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India’s Zee Entertainment reports sharp rise in Q3 profit, margins on cost cuts

23 Jan 2025

(Reuters) – India’s Zee Entertainment Enterprises reported a sharp rise in third-quarter profit and margins on Thursday, boosted by cost cutting measures which offset lower advertisement revenue. Shares of the broadcaster closed up 2.4% after the results. Zee reported a profit of 1.64 billion rupees ($18.96 million) for the three months ended Dec. 31, compared …

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Meta, WhatsApp win relief as India tribunal suspends data sharing ban

23 Jan 2025

By Arpan Chaturvedi NEW DELHI (Reuters) – An Indian tribunal temporarily suspended a five-year data sharing ban between WhatsApp and owner Meta Platforms, a major relief for the U.S. giant which had warned its advertising business will be affected. Meta had challenged the Competition Commission of India’s (CCI) directive issued in November that imposed a …

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India’s Infra.Market raises $121 mn in pre-IPO funding round

23 Jan 2025

By Haripriya Suresh and Ashwin Manikandan (Reuters) – Indian construction material supply firm Infra.Market has raised $121 million in a funding round led by existing backer Tiger Global, at a valuation of $2.8 billion, according to regulatory filings reviewed by Reuters. The round also saw participation from other investors, including Evolvence, Foundamental GmbH, and Zerodha …

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India’s Alivus Life posts bigger Q3 profit on API boost

23 Jan 2025

(Reuters) – Indian drugmaker Alivus Life Sciences, formerly called Glenmark Life Sciences, reported a higher third-quarter profit on Thursday, driven by strong demand in its mainstay active pharmaceutical ingredients (API) business. The Mumbai-based company said its profit rose to 1.37 billion rupees (nearly $16 million) for the three months ended Dec. 31 from 1.19 billion …

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Exclusive-OpenAI tells India court ChatGPT data removal will breach US legal obligations

23 Jan 2025

By Arpan Chaturvedi, Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) – OpenAI has told an Indian court that any order to remove training data powering its ChatGPT service would be inconsistent with its legal obligations in the United States, according to a recent filing seen by Reuters. The Microsoft-backed AI firm also said that …

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India’s BPCL sees March Russian oil intake down 20% as it awaits offers

23 Jan 2025

By Nidhi Verma NEW DELHI (Reuters) – India’s state-run refiner Bharat Petroleum Corp sees its Russian oil processing down to 20% in March from 31% this month as it awaits offers from traders, its head of finance Vetsa Ramakrishna Gupta told an analyst call on Thursday. The company and other state refiners such as Indian …

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