(Reuters) – Indian engineering and technology services firm L&T Technology Services reported a smaller-than-expected third-quarter revenue on Wednesday, on the back of softer spends from its automotive clients. The Larsen and Toubro group firm raised its revenue growth for fiscal year 2025 to near 10% from 8%-10% earlier, on the back of acquiring U.S.-based software …
India’s L&T Technology misses Q3 revenue estimates Read More »
By Shivangi Acharya NEW DELHI (Reuters) -India posted a narrower-than-expected merchandise trade deficit in December at $21.94 billion on Wednesday, while lowering its import figures for April-November following an unprecedented miscalculation in gold shipments. Economists had expected the December trade deficit to be $27.33 billion, according to a Reuters poll. Merchandise exports stood at $38.01 …
India’s merchandise trade deficit for December lower than expected Read More »
MUMBAI (Reuters) – The Indian rupee rebounded on Wednesday, after falling to a lifetime low in the prior session, to log its best day in over seven months, aided by a softer greenback and strong dollar sales by foreign banks. The rupee closed at 86.3625 against the U.S. dollar, up 0.3% on Wednesday, its best …
Rupee rebounds to post best day in over 7 months; US inflation data in focus Read More »
By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) – Meta may have to “roll back or pause” some features in India due to an antitrust directive which banned its WhatsApp messaging service from sharing user data with Meta for advertising purposes, according to a court filing by the U.S. company seen by Reuters. Meta …
By Bharath Rajeswaran (Reuters) -India’s benchmark indexes inched higher on Wednesday, led by energy and information technology stocks, although worries over slowing earnings and caution ahead of key U.S. inflation data capped the gains. The Nifty 50 rose 0.16% to 23,213.2, while the BSE Sensex added 0.29% to 76,724.08. The smallcaps and midcaps rose about …
Indian benchmarks inch higher on IT, energy gains Read More »
(Reuters) -India’s Aditya Birla Fashion and Retail (ABFRL) will raise $500 million by selling shares, including to U.S. investment firm Fidelity, the retailer said on Wednesday. ABFRL said it will raise $275 million by issuing preference shares, split between the retailer’s controlling shareholders and Fidelity, and the remaining $225 million through a qualified institutional placement. …
India’s Aditya Birla Fashion to raise $500 million via share sales to Fidelity, others Read More »
By Jaspreet Kalra and Swati Bhat MUMBAI (Reuters) – Some analysts are pushing back expectations for interest rate cuts in India as the rupee’s slump to record lows fans worries about inflation, even as growth in Asia’s third-largest economy slows. The weaker currency could add to elevated inflation through costlier imports, while a cut in …
Plummeting rupee could delay India rate cuts, analysts say Read More »
By Anjana Anil (Reuters) – Gold prices extended gains on Tuesday after U.S. inflation data came in slightly weaker than expected, giving investors faint hope that the Federal Reserve would continue on its rate-easing path this year, sending the dollar lower. Spot gold gained 0.3% to $2,671.27 per ounce as of 01:50 p.m. ET (1850 …
Gold edges up on soft inflation print, US CPI in focus Read More »
BENGALURU (Reuters) – India’s central bank on Tuesday said deputy governor M. Rajeshwar Rao will handle monetary policy and economic research departments in a reorganisation of portfolios as Michael Patra’s term ends. Michael Patra, one of the four deputy governors of the Reserve Bank of India, will see his term end on Jan. 15. During …
India’s central bank assigns deputy M. Rajeshwar Rao to lead monetary policy department Read More »
(Reuters) – India’s Shoppers Stop Ltd posted a rise in quarterly profit on Tuesday, after two straight quarters of loss, driven by strong demand for premium products such as watches and perfumes during the festive season. The department store chain said consolidated net profit rose nearly 41% to 522.3 million rupees ($6.03 million) for the …
India’s Shoppers Stop posts Q3 profit rise on festive season demand for premium goods Read More »
