(Reuters) – India’s Titan reported a 23% fall in second-quarter profit on Tuesday, as a cut in customs duty on gold imports led to inventory losses and shrank margins. The Tata group company posted a consolidated profit after tax of 7.04 billion rupees ($83.74 million) from 9.16 billion rupees a year ago. Consumer demand rose …
India’s Titan’s Q2 profit falls as gold import tax cut drives inventory losses Read More »
Berger Paints India reported a bigger-than-expected drop in second-quarter profit on Tuesday, as above-average rainfall and price hikes dampened demand. The company’s consolidated net profit fell 7.5% to 2.70 billion rupees (about $32 million) in the July-September quarter, lower than analysts’ estimate of 2.84 billion rupees, per data compiled by LSEG. Revenue from operations rose …
Berger Paints India misses Q2 profit view as higher rainfall, price hikes dampen demand Read More »
(Reuters) – India’s Manappuram Finance reported an unexpected growth in second-quarter profit on Tuesday, as strong performance in its mainstay gold loan segment offset higher provisions. The gold loan financier’s consolidated net profit rose 2% from last year to 5.71 billion rupees (about $68 million) for the three months ended Sept. 30. Analysts were expecting …
India’s Manappuram Finance posts surprise Q2 profit growth on gold loan boost Read More »
(Reuters) – India’s Mankind Pharma reported a better-than-expected second-quarter profit on Tuesday, driven by strong demand for its drugs to treat long-term illnesses, such as diabetes and cardiovascular diseases. The company, which also makes Manforce condoms and Prega News pregnancy kits, said its consolidated net profit rose to 6.53 billion rupees ($77.7 million) for the …
India’s Mankind Pharma tops Q2 profit view on higher demand for chronic drugs Read More »
(Reuters) – India’s JK Tyre & Industries reported its first quarterly profit fall in two years on Tuesday, hurt by weak tyre sales to car, bus and truck makers. The tyre maker’s consolidated net profit for the July-September quarter fell 44% year-on-year to 1.35 billion rupees ($16.1 million). Its second-quarter revenue declined 7% to 36.22 …
India’s JK Tyre’s quarterly profit drops for first time in two years Read More »
By Bharath Rajeswaran (Reuters) -Indian shares reversed losses to end higher on Tuesday as investors sought safety in heavyweight financials that are considered to have cheaper valuations, ahead of the tightly-fought U.S. presidential election. The NSE Nifty 50 rose 0.91% to 24,213.3, while BSE Sensex gained 0.88% to 79,476.63. The benchmarks fell about 0.6% each …
Financials lead rebound in Indian shares ahead of US election Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was nearly unchanged on Tuesday, wedged between likely foreign outflows from domestic equities and intervention by the central bank, while uncertainty about the U.S. election loomed with Americans heading to the polls later in the day. The rupee closed at 84.1075 against the dollar, compared to …
Rupee holds ground on cenbank intervention as US election uncertainty looms Read More »
By Nivedita Bhattacharjee NEW DELHI (Reuters) – U.S.-based startup Axiom Space is exploring using Indian launch vehicles to support its international space station mission, a senior executive said on Tuesday. Axiom Space is one of the few companies constructing a private space station, intended to eventually replace the International Space Station (ISS), which the U.S. …
US startup Axiom Space explores using Indian rockets for space mission Read More »
NEW DELHI (Reuters) – India’s state-run Hindustan Petroleum Corp Ltd is looking at raising its annual crude import deal with Iraq to 100,000 barrels per day (bpd) in 2025, a growth of about 43% from this year, a company source said. HPCL has an annual deal to buy 70,000 bpd Iraqi oil in 2024, the …
India HPCL plans to buy 43% more Iraqi oil in 2025, company source says Read More »
(Reuters) – Noel Tata, the half-brother of late Indian tycoon Ratan Tata, has been appointed to the board of Tata Sons, the group company that operates the $165 billion salt-to-software conglomerate, the company’s website on Tuesday showed. The move follows Noel Tata’s appointment last month as the chairman of the powerful and influential philanthropic arm …
