(Reuters) -Embassy Office Parks, India’s largest real estate investment trust (REIT), said on Tuesday Aravind Maiya will step down as CEO of Embassy REIT with immediate effect, following the market regulator’s decision that he is unfit for the role. Shares of Embassy REIT dropped as much as nearly 3% following the company’s announcement. In an …
India’s Embassy REIT chief steps down on market regulator’s order Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee touched its weakest level on record on Monday, as persistent outflows from local stocks blunted the impact of a weaker dollar that helped lift the currency’s regional peers ahead of the U.S. presidential election. The rupee closed at 84.1150 against the U.S. dollar after touching its …
Rupee touches all-time low on equity outflows, US elections in focus Read More »
By Anjana Anil (Reuters) – Gold prices edged up on Monday, as U.S. election uncertainty loomed with markets pricing in chances of a contested result and political tensions, while investors also kept a close tab on the Federal Reserve policy meeting later this week. Spot gold was up 0.1% at $2,737.35 per ounce as of …
Gold edges up as US election jitters, Fed policy meeting loom Read More »
(Reuters) – India’s Raymond Ltd reported a 49% rise in its second-quarter profit on Monday, driven by higher demand for its premium properties. The company, which sells luxury homes and auto parts, said its consolidated profit from continuing operations before exceptional items rose to 889.8 million rupees ($10.6 million) for the July-September quarter from 598.9 …
India’s Raymond posts sharp rise in profit on higher demand for premium realty Read More »
(Reuters) – Footwear maker Bata India reported a smaller-than-expected second-quarter profit on Monday, hurt by dwindling consumer demand amid high inflation. The company said its consolidated profit grew about 53% to 519.79 billion rupees ($6.18 billion) for the quarter ended Sept. 30, but fell short of analysts’ estimate of 587.5 million rupees, per data compiled …
Bata India misses Q2 profit view as inflation dampens demand Read More »
BENGALURU (Reuters) – India’s JK Paper reported a fall in profit for a fifth-straight quarter on Monday, hit by rising prices of wood – a key raw material used to manufacture paper and packaging materials. The company said its consolidated net profit fell 57% to 1.29 billion rupees ($15.3 million) in the quarter ended Sept. …
India’s JK Paper posts steep drop in profit as costs bite Read More »
By Yousef Saba DUBAI (Reuters) – India’s oil minister Hardeep Singh Puri called on Monday for discussions between oil producers and consumers to stabilise prices. Oil prices rose more than 2% following a decision by OPEC+ to delay by a month plans to increase output. [O/R] India, the world’s third largest oil consumer, relies on …
Oil buyers, producers dialogue needed for market stability, says India min Read More »
(Reuters) – Engineering services firm ABB India reported a 21% surge in third-quarter profit on Monday, driven by higher demand for its electrification products. Profit at the Indian arm of Switzerland’s ABB rose to 4.4 billion rupees ($52.33 million) in the three months ended Sept. 30 from 3.63 billion rupees a year earlier. Capital goods …
Engineering firm ABB India posts bigger Q3 profit on electrification demand Read More »
(Reuters) – Indian generic injectables maker Gland Pharma reported a drop in second-quarter profit on Monday, hurt by lower sales in its Europe business and temporary production issues at its French unit Cenexi. The company reported consolidated net profit of 1.64 billion rupees ($19.5 million) for the quarter ended Sept. 30, a 15.7% decrease from …
India’s Gland Pharma posts Q2 profit drop hurt by Europe business Read More »
(Reuters) – Indian battery maker Amara Raja Energy & Mobility reported a 6.3% rise in second-quarter profit on Monday, aided by continued demand from automotive manufacturers. The company’s net profit rose to 2.41 billion rupees ($28.7 million) for the quarter ended Sept. 30, from 2.26 billion rupees a year earlier. However, this is its slowest …
Indian battery maker Amara Raja’s Q2 profit rises on steady automotive demand Read More »
