Reuters India Business

Banks, consumer firms drag Indian shares as Q3 updates underwhelm

6 Jan 2025

By Hritam Mukherjee and Bharath Rajeswaran (Reuters) -Indian shares dropped on Monday, dragged mainly by banks and consumer firms after lacklustre quarterly updates from key constituents raised concerns about continuing corporate weakness. The Nifty 50 fell 1.62% to 23,616.05 points while the BSE Sensex slid 1.59% to 77,964.99. All 13 major sub-sectors retreated on the …

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Rupee hits record low as Indian equities slide, bearish tilt persists

6 Jan 2025

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee declined to its lifetime low on Monday, hurt by a persistent bearish outlook on the South Asian currency that has been troubled by a broadly stronger dollar and tepid capital flows following a slowdown in economic growth. The rupee weakened to 85.84 against the U.S. dollar, …

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Rupee hits record low as Indian equities slide, bearish tilt persists

6 Jan 2025

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee declined to its lifetime low on Monday, hurt by a persistent bearish outlook on the South Asian currency that has been troubled by a broadly stronger dollar and tepid capital flows following a slowdown in economic growth. The rupee weakened to 85.84 against the U.S. dollar, …

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Indian conglomerate ITC’s value adjusts 5% lower after hotels business spin-off

6 Jan 2025

(Reuters) -Indian foods-to-tobacco group ITC’s market value was adjusted lower by about 5%, or 325 billion rupees ($3.8 billion), in a special trading session on Monday to account for the spin-off of the conglomerate’s hotels business. ITC’s shares settled at 455.60 rupees at the end of the hour-long pre-open trading session, compared with its unadjusted …

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India’s Titan estimates 24% rise in Q3 revenue on booming jewellery demand

6 Jan 2025

(Reuters) – Indian jeweller and watchmaker Titan Company said on Monday it estimated a 24% rise in third-quarter revenue, buoyed by domestic festive demand for jewellery. Strong consumer traction during the festive season translated into high single-digit percentage buyer growth in the jewellery segment, said Titan, which gets about 87% of its total revenue from …

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No respite likely for India rupee, bonds to track US peers

6 Jan 2025

By Dharamraj Dhutia and Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to remain under pressure through the week on worries over U.S. President-elect Donald Trump’s trade policies and persistent dollar demand in the non-deliverable forward market, while domestic bonds will track U.S. Treasuries. The rupee fell 0.3% last week to 85.77 against …

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Indian private lender HDFC Bank says Q3 deposit growth outpaces loan growth

4 Jan 2025

MUMBAI (Reuters) – India’s HDFC Bank saw quarter-on-quarter deposit growth outpace loan growth in the three months to December 31, the country’s biggest private lender said on Saturday. Deposits rose 4.2% to 24.53 trillion Indian rupees ($286.03 billion), slowing from 5.1% rise in July-September quarter, the Mumbai-based bank said. Its low-cost current and savings account …

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India’s Kotak Mahindra Bank’s Milind Nagnur steps down as COO, CTO

3 Jan 2025

(Reuters) – Kotak Mahindra Bank’s Milind Nagnur resigned from his positions as chief operating officer and chief technology officer, effective Feb. 15, due to personal reasons, the Indian private lender said on Friday. Nagnur was appointed as COO in February 2024, while continuing as CTO, a position he had held for over a year. He …

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India’s Marico estimates higher quarterly revenue growth on cooking oil demand

3 Jan 2025

(Reuters) – Indian consumer goods firm Marico on Friday estimated its consolidated quarterly revenue will rise in the mid-teen percentage range, boosted by improving rural consumption and higher demand for its Parachute and Saffola brands of oils. Cooking oil has largely withstood a broader slowdown among branded consumer goods due to its essential nature, according …

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