By Lisa Pauline Mattackal (Reuters) – Hindenburg Research’s founder Nathan Anderson announced on Wednesday he would disband the firm whose short reports on companies typically led to sharp plunges in the stock prices, and in some cases, investigations by authorities. The firm bet against publicly listed companies they believed had accounting issues, was being mismanaged …
Factbox-Hindenburg’s short bets that shook markets Read More »
(Reuters) -India’s LTIMindtree on Thursday reported third-quarter revenue above estimates, helped by the execution of large deals won in previous quarters, although its profit fell on account of an uptick in expenses. The country’s sixth-largest IT firm reported a 7.1% on-year rise in consolidated revenue at 96.61 billion rupees ($1.12 billion) in the three months …
India’s LTIMindtree beats Q3 revenue estimate, but profit declines Read More »
By Sai Ishwarbharath B, Hritam Mukherjee and Haripriya Suresh BENGALURU (Reuters) -India’s No.2 software-services exporter Infosys raised its annual revenue forecast for the third time this financial year on Thursday as its U.S. banking and retail clients warmed up to spending more on discretionary projects. The sentiment echoed that of market leader Tata Consultancy Services …
India’s Infosys ups annual revenue forecast on US demand revival Read More »
By Nishit Navin and Siddhi Nayak BENGALURU (Reuters) -India’s Axis Bank reported a smaller-than-expected rise in quarterly profit on Thursday, as loan growth slowed and it set aside more funds against potential bad loans. The country’s fourth-largest private lender by market capitalisation said its standalone net profit – which excludes earnings of its subsidiaries – …
India’s Axis Bank misses profit view on bad loan provisions, slow loan growth Read More »
DUBAI (Reuters) – Emaar Properties, Dubai’s largest listed real estate firm, is in talks with “a few groups” in India including Adani Group to sell a stake of its Indian business, it said on Thursday. The builder of the world’s tallest building, the Burj Khalifa, and other iconic parts of Dubai, said in a statement …
(Reuters) – Havells India, the country’s biggest home appliances maker by market value, reported a nearly 2% drop in third-quarter profit on Thursday as higher labour and advertising expenses ate into margins. The company’s profit fell to 2.83 billion rupees ($32.7 million) in the three months ended Dec. 31 from 2.88 billion rupees a year …
Havells India posts Q3 profit drop on higher expenses Read More »
SINGAPORE (Reuters) -Indian Oil Corp (IOC) is seeking high-sulphur oil from the spot market in its first sour crude import tender since March 2022, expecting the latest U.S. sanctions to hit supplies from Moscow, trade sources said on Thursday. IOC and other Indian refiners boosted purchase of discounted Russian oil after western entities imposed sanctions …
Indian Oil Corp issues sour crude tender after latest Russia sanctions, sources say Read More »
MUMBAI (Reuters) – To encourage the use of the rupee and other currencies to settle cross-border transactions, India’s central bank took steps to further liberalise regulations under the foreign exchange management act, it said in a release on Thursday. Indian exporters will now be able to open accounts in any foreign currency overseas to settle …
India central bank liberalises FX rules to promote cross-border trade Read More »
By Bharath Rajeswaran and Indranil Sarkar (Reuters) -Indian shares rose on Thursday, led by financials and tracking other global markets, after underlying U.S. inflation softened in December, boosting the likelihood of further rate cuts. The Nifty 50 rose 0.42% to end at 23,311.8, while the BSE Sensex added 0.42% to close at 77,042.82. Ten of …
Financials lead rise in Indian shares; Reliance, Infosys results in focus Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s palm oil imports are set to plunge to a near five-year low in January, hit by negative refining margins as the tropical oil’s premium over rivals drives buyers to more competitively priced soyoil, government and industry officials told Reuters. Lower palm oil imports by the world’s biggest buyer …
