NEW DELHI (Reuters) -India’s infrastructure output grew 2% year-on-year in September, backed by strong cement and refined product output, government data showed on Wednesday. Infrastructure output, which makes up 40% of India’s industrial production and tracks activity across eight sectors, had contracted for the first time in more than three years in August at a …
India’s September infrastructure output grows 2% on year Read More »
(Reuters) – Honey-to-packaged juice maker Dabur India reported a lower-than-expected quarterly profit on Wednesday, hurt by weaker demand in urban areas and heavy rains in parts of the country. Its consolidated profit dropped nearly 18% to 4.25 billion rupees ($50.6 million) for the three months ended Sept. 30, missing analysts’ expectations of 4.38 billion rupees, …
Dabur India misses Q2 profit view on subdued urban demand Read More »
NEW DELHI (Reuters) -India’s fiscal deficit for April-September was 4.75 trillion rupees ($56.50 billion), or over 29% of the estimate for the financial year, government data showed on Wednesday. Net tax receipts for the first six months of the current financial year were 12.65 trillion rupees, or 49% of the annual target, compared with 11.6 …
India’s April-September fiscal deficit at 29% of full-year target Read More »
By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) -Indian police have summoned Asit Rath, the chief executive of British insurer Aviva in the country, as part of an inquiry into a former employee’s accusations of religious discrimination at work, documents seen by Reuters showed. The investigation, in the northern city of Faridkot in Punjab …
Police summon Aviva India CEO in discrimination case, company denies allegations Read More »
By Bharath Rajeswaran and Hritam Mukherjee (Reuters) -Indian shares fell on Wednesday, dragged down by high weightage financials and as drugmaker Cipla extended its post-results losses. The NSE Nifty 50 shed 0.51% to 24,340.85 points, while the BSE Sensex lost 0.53% to 79,942.18. Nine of the 13 major sectors logged losses. Heavyweight financials, which gained …
Financials, Cipla drag Indian benchmarks, broader market outperforms Read More »
(Reuters) – India’s TTK Prestige reported an about 11% fall in second-quarter profit on Thursday as it grappled with increasing competition in the kitchenware segment. The company reported a consolidated net profit of 528.7 million rupees ($6.3 million) in the quarter ended Sept. 30, down from 592.7 million rupees a year earlier. Revenue from operations …
India’s TTK Prestige posts Q2 profit fall on tough competition Read More »
(Reuters) – Dutch tank storage firm Vopak on Wednesday confirmed it plans to proceed with an initial public offering (IPO) for its Indian joint venture AVTL. “The private placement we announced yesterday is a precursor for the IPO,” group CFO Michiel Gilsing told Reuters, adding that he sees “massive potential in terms of trading at …
Vopak confirms plans for IPO of Indian venture AVTL Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s gold demand in 2024 is likely to fall to its lowest in four years as a rally in prices to a record high is seen denting purchases during the peak festival season in the December quarter, the World Gold Council (WGC) said on Wednesday. Gold demand in the …
India’s gold demand to hit four-year low amid price rally, World Gold Council says Read More »
By Nimesh Vora MUMBAI (Reuters) -The Indian rupee declined to a lifetime low on Wednesday, weighed down by nervousness in its Asian peers about the outcome of the U.S. elections and by persistent foreign outflows from domestic equities. The rupee dipped to an all-time low of 84.0900 to the U.S. dollar, crawling past the previous …
Rupee drops to all-time low on Asia FX volatility, outflows Read More »
By Dhwani Pandya and Aditya Kalra NAVI MUMBAI, India (Reuters) – Asia’s richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a day or two, his business is now targeting a 10-30 minute service. Quick commerce has …
Billionaire Ambani’s Reliance plays catch-up to ride India quick commerce wave Read More »
