Reuters India Business

India’s SAIL posts Q2 profit drop on steep decline in steel prices, muted demand

7 Nov 2024

(Reuters) – Steel Authority of India (SAIL) reported a decline in second-quarter profit on Thursday, as a sharp fall in steel prices and tepid demand weighed. The state-owned firm’s consolidated net profit fell 31% to 8.97 billion rupees ($106 million) in the three months ended Sept. 30. Revenues dipped 17% to 246.75 billion rupees. Its …

India’s SAIL posts Q2 profit drop on steep decline in steel prices, muted demand Read More »

India’s Lupin beats Q2 profit view on strong demand for generic drugs

7 Nov 2024

(Reuters) – Indian generic drugmaker Lupin reported a bigger-than-expected rise in second-quarter profit on Thursday, driven by strong demand for its respiratory and diabetes management drugs. Consolidated net profit of the company, which makes biosimilars and active pharmaceutical ingredients, rose to 8.53 billion rupees (about $101 million) for the quarter ended Sept. 30, up about …

India’s Lupin beats Q2 profit view on strong demand for generic drugs Read More »

Sweden’s Truecaller hit by Indian tax raid, shares fall

7 Nov 2024

COPENHAGEN (Reuters) – Indian tax authorities raided the local offices of Swedish software group Truecaller on Thursday, the company said in a statement, sending the firm’s Stockholm-listed shares down 11%. “This came without prior notice and Truecaller is currently awaiting official confirmation and communication from the tax departments,” the company said in a statement. “This …

Sweden’s Truecaller hit by Indian tax raid, shares fall Read More »

India says Mercedes improved pollution management at plant after failing checks

7 Nov 2024

By Arpan Chaturvedi NEW DELHI (Reuters) -Mercedes-Benz has improved wastewater and air pollution management at its only car factory in India after officials detected environment law lapses in recent inspections, government documents show. Pollution control officials in the western state of Maharashtra signed off on Mercedes’ compliance with environment norms in an Oct. 11 visit …

India says Mercedes improved pollution management at plant after failing checks Read More »

India raids offices of sellers using Amazon, Flipkart platforms, sources say

7 Nov 2024

By Nikunj Ohri, Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) -India’s financial crime agency has raided offices of some sellers operating Amazon and Walmart-owned Flipkart in an investigation into alleged violations of foreign investment rules, three government sources said on Thursday. The searches come weeks after Reuters reported India’s antitrust body had found the …

India raids offices of sellers using Amazon, Flipkart platforms, sources say Read More »

India’s Escorts Kubota beats Q2 profit view on agricultural machinery growth

7 Nov 2024

(Reuters) – India’s Escorts Kubota reported second-quarter profit above estimates on Thursday, helped by growth in its agricultural machinery segment. The company reported standalone net profit of 3.27 billion rupees ($38.8 million) in the three months ended Sept 30. Analysts were expecting a profit of 2.63 billion rupees, according to data compiled by LSEG. Revenue …

India’s Escorts Kubota beats Q2 profit view on agricultural machinery growth Read More »

India cenbank sees European proposal for oversight of clearing corp as ‘extra jurisdictional’, official says

7 Nov 2024

MUMBAI (Reuters) – India’s central bank continues to be in talks with the European Securities and Markets Authority (ESMA) but views the latter’s proposal for supervisory and auditing powers over domestic clearing corporations as “extra jurisdictional”, an official said on Thursday. “We have taken a very consistent stand that ESMA is being extra jurisdictional in …

India cenbank sees European proposal for oversight of clearing corp as ‘extra jurisdictional’, official says Read More »

India’s NCC Q2 profit more than doubles on higher order inflows

7 Nov 2024

(Reuters) – Indian infrastructure firm NCC on Thursday reported its profit more than doubled in the second quarter, helped by higher order inflows. Consolidated net profit rose to 1.63 billion rupees ($19.3 million) for the quarter ended Sept. 30 from 773.4 million rupees a year ago. Revenue from operations rose 10.1% to 51.96 billion rupees. …

India’s NCC Q2 profit more than doubles on higher order inflows Read More »

Indian shares give up Trump-fueled gains as profit-booking, earnings weigh

7 Nov 2024

By Bharath Rajeswaran (Reuters) -Indian shares slid over 1% on Thursday, erasing all their gains from the previous day when Donald Trump was elected U.S. president, with analysts blaming profit-booking and concerns over foreign inflows, while weak earnings also weighed. The NSE Nifty 50 fell 1.16% to 24,199.35, while the BSE Sensex shed 1.04% to …

Indian shares give up Trump-fueled gains as profit-booking, earnings weigh Read More »

India’s Mahindra & Mahindra posts surprise rise in Q2 profit on higher SUV sales

7 Nov 2024

(Reuters) -Indian automaker Mahindra & Mahindra reported a surprise rise in second-quarter profit on Thursday, helped by higher sales of its sport utility vehicles (SUV) and a recovery in tractor demand. The ‘Scorpio’ SUV maker’s standalone profit after tax rose 13.2% to 38.41 billion rupees ($455.4 million). Analysts had estimated profit would dip 1.7% to …

India’s Mahindra & Mahindra posts surprise rise in Q2 profit on higher SUV sales Read More »

Close Bitnami banner
Bitnami