MUMBAI (Reuters) -India needs more independent equity clearing corporations with a diverse ownership as being fully owned by stock exchanges raises a conflict of interest, an official from the country’s markets regulator said on Thursday. “Some form of demerger of clearing corporations from their parent exchanges may be the way forward. We will come out with a public …
(Reuters) -India’s fuel consumption in October rose by 2.9% year-on-year to 20.04 million metric tons, oil ministry data showed on Wednesday, driven by strong economic activity. WHY IT IS IMPORTANT India is the third-largest consumer and importer of oil. The data is a proxy for the country’s oil demand. KEY QUOTE The drag from the …
NUSA DUA, Indonesia (Reuters) – India’s vegetable oil imports are estimated to decline further in the 2024-25 season to 15 million metric tons, as favourable weather will likely boost domestic production, an industry group said. India, the world’s biggest vegetable oils importer, is estimated to have imported 16 million tons in the 2023-24 season that …
India’s veg oil imports seen lower in 2024-25, industry group says Read More »
By Anjana Anil (Reuters) – Gold prices slid to a three-week low on Wednesday, as investors piled into the U.S. dollar after Republican Donald Trump was elected U.S. president. Market participants were also looking ahead to the Federal Reserve’s interest-rate decision on Thursday for further clues on the bank’s easing cycle that had helped gold’s …
Gold hastens retreat as dollar rallies on Trump victory Read More »
(Reuters) – Tata Steel reported a second-quarter profit on Wednesday that beat analysts’ estimates as lower costs and higher sales volumes in India and the Netherlands offset a steep drop in steel prices. India’s second-biggest steelmaker by market value posted a consolidated net profit of 8.33 billion rupees ($99 million) in the quarter, compared with …
Tata Steel’s second-quarter profit beats on higher sales volumes, lower costs Read More »
(Reuters) – Blue Star on Wednesday reported second-quarter profit that missed estimates as it struggled to increase sales of commercial refrigeration appliances such as water coolers and deep freezers. The company’s consolidated net profit rose 36% to 961.9 million rupees ($11.4 million) in the three months ended Sept. 30, but missed analysts’ expectations of 965.6 …
India’s Blue Star misses Q2 profit view on weakness in refrigeration appliances segment Read More »
By Hritam Mukherjee (Reuters) -Food and grocery delivery firm Swiggy’s $1.4 billion IPO was 12% subscribed after its first day of bidding, with retail investors placing orders for more than half the shares reserved for them in India’s second-largest IPO of 2024. India has been an outlier in Asia with a string of high-profile offerings …
Swiggy’s $1.4 billion Indian IPO 12% subscribed on its first day Read More »
(Reuters) – India’s J B Chemicals & Pharmaceuticals reported a rise in second-quarter profit on Wednesday, helped by higher domestic demand for its gastrointestinal and cardiovascular drugs. The drugmaker’s consolidated net profit rose 16% to 1.75 billion rupees (about $20.8 million) for the quarter ended Sept. 30. Its revenue climbed 13.5% to 10.01 billion rupees, …
India’s JB Pharma’s Q2 profit rises on higher domestic demand Read More »
(Reuters) – India’s Kansai Nerolac Paints posted a near 31% fall in second-quarter profit on Wednesday, hurt by muted demand due to heavy monsoons and as expenses were higher. The company, majority owned by Japan’s Kansai Paint Co, said its consolidated net profit fell to 1.23 billion rupees ($14.6 million) in the three months ended …
(Reuters) – India’s JK Lakshmi Cement reported a nearly 91% slide in its second-quarter profit on Wednesday, hurt by a decline in sales volume and cement prices. The company’s profit after tax fell to 75.4 million rupees (about $894,500) for the quarter ended Sept. 30, from 830.3 million rupees a year ago. Revenue from operations …
India’s JK Lakshmi Cement posts steep drop in Q2 profit on weak demand, low prices Read More »
