MUMBAI (Reuters) -The Indian rupee ended near an all-time low against the dollar on Thursday amid outflows from equities and anxiety over the outcome of the U.S. election, but the central bank’s intervention kept the local currency in a narrow range through October. The rupee closed at 84.0750 against the U.S. dollar, nearly unchanged from …
Rupee ends October near record low; cenbank quells volatility Read More »
By Aditya Kalra and Indranil Sarkar NEW DELHI (Reuters) – Big investors including Norway’s sovereign wealth fund Norges and Fidelity have placed bids worth more than $15 billion in Swiggy’s India IPO, 25 times the $605 million portion reserved for such investors, four sources told Reuters on Thursday. Swiggy, a SoftBank-backed Indian food and grocery …
(Reuters) – Shares of India’s Larsen & Toubro surged nearly 7% on Thursday, set for their best session in over three years, after the infrastructure developer surprised the market with strong execution in a seasonally weak quarter and kept its forecast. L&T is considered a bellwether for India’s infra spending due to the scale of …
India’s L&T surges as Q2 results defy market “skepticism” Read More »
(Reuters) -HDB Financial Services, the non-banking lending unit of India’s biggest private lender, HDFC Bank, has filed for an initial public offering of up to 125 billion rupees ($1.49 billion), in line with its parent’s announcement earlier this month. HDFC Bank, which holds a 94.6% stake in the lender, will sell shares worth up to …
Indian non-bank lender HDB Financial files for $1.5 billion IPO Read More »
(Reuters) – India’s markets regulator, on Wednesday, proposed that asset management firms (AMCs) deploy the funds collected by newly launched mutual fund schemes, or new fund offers (NFOs), within 30 days of allocation of units to investors. The Securities and Exchange Board of India’s consultation paper proposed that AMCs could extend the timeline by another …
India markets regulator proposes deadline to use funds from new mutual fund schemes Read More »
By Anjana Anil (Reuters) – Gold prices rose to a record high on Wednesday as uncertainty over the U.S. presidential election boosted safe-haven demand, with traders also awaiting economic data for cues on the Federal Reserve’s policy path. Spot gold rose 0.5% to $2,788.87 per ounce by 9:55 a.m. ET (1355 GMT), after reaching an …
Gold at record high as global political uncertainty boosts safe-haven demand Read More »
By Ashwin Manikandan and Haripriya Suresh MUMBAI (Reuters) – India’s IPO-bound Swiggy said on Wednesday that it is opening bigger warehouses and reducing delivery times as it bets that its quick commerce business – where groceries are delivered in 10 minutes – will overtake its main food delivery operations. Indian companies including Swiggy and its …
India’s IPO-bound Swiggy opening bigger warehouses to aid quick commerce bet Read More »
By Hritam Mukherjee and Manvi Pant (Reuters) -Larsen & Toubro (L&T), India’s largest infrastructure company by market capitalisation, reported a second-quarter profit jump on Wednesday, helped by faster execution of previously-commissioned projects even as order book declined. L&T’s results are often seen as a bellwether for infrastructure spending in Asia’s third-largest economy, mainly due to …
India’s L&T posts Q2 profit rise on swifter execution of projects Read More »
HYDERABAD/BENGALURU (Reuters) – Indian biopharmaceutical firm Biocon swung to a quarterly loss on higher taxes paid, it said on Wednesday. Net loss attributable to shareholders was 160 million rupees ($1.90 million) for the quarter ended Sept. 30, against a profit of 1.26 billion rupees a year ago. After adjusting for exceptional items, the loss was …
India’s Biocon posts Q2 loss on deferred tax charge Read More »
(Reuters) – India’s Tata Power missed second-quarter profit expectations on Wednesday as lower temperatures during the monsoon season eased demand for electricity. The company reported a 5.8% year-on-year rise in consolidated net profit to 9.27 billion rupees ($110.3 million) for the July-September quarter, but missed analysts’ expectations of 9.82 billion rupees, as per data compiled …
India’s Tata Power misses Q2 profit estimates as cooler weather weighs on demand Read More »
