Reuters India Business

Rising investor gold demand offsets lower jewellery buying in Q3, says industry body

30 Oct 2024

By Polina Devitt LONDON (Reuters) – Global gold demand excluding over-the-counter (OTC) trading was steady year-on-year at 1,176.5 metric tons in the third quarter as higher investment activity offset reduced jewellery consumption, the World Gold Council (WGC) said on Wednesday. Spot gold prices are up 34% so far this year, heading for the highest annual …

Rising investor gold demand offsets lower jewellery buying in Q3, says industry body Read More »

RBI to cut rates in December to 6.25%, say narrow majority of economists: Reuters poll

30 Oct 2024

By Anant Chandak BENGALURU (Reuters) – India’s central bank will cut its key policy rate in December by a quarter point to 6.25% to bolster slowing economic growth, according to a slim majority of economists in a Reuters poll who also expect inflation to moderate in the near-term. Inflation unexpectedly spiked to 5.49% in September, …

RBI to cut rates in December to 6.25%, say narrow majority of economists: Reuters poll Read More »

India’s Swiggy prices $1.35 billion IPO at 371-390 rupees apiece

30 Oct 2024

(Reuters) – Indian food delivery giant Swiggy has set a price band of 371 rupees to 390 rupees per share for its $1.35 billion domestic initial public offering (IPO), a newspaper advertisement showed on Wednesday. Swiggy’s IPO will be the country’s second-biggest stock offering this year, behind carmaker Hyundai India’s $3.3 billion IPO earlier this …

India’s Swiggy prices $1.35 billion IPO at 371-390 rupees apiece Read More »

India’s festive gold buying spree continues, defying record price

30 Oct 2024

By Rajendra Jadhav MUMBAI (Reuters) -Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters.  Robust demand in the world’s second-biggest gold consumer could further …

India’s festive gold buying spree continues, defying record price Read More »

Gold touches record peak on US election jitters, Middle East woes

29 Oct 2024

By Anjana Anil and Anushree Mukherjee (Reuters) – Gold prices hit a record high on Tuesday, as uncertainties surrounding the U.S. presidential election and the Middle East conflict, along with expectations of an interest rate cut by the Federal Reserve, boosted bullion’s appeal. Spot gold was up 1% at $2,769.25 per ounce as of 10:17 …

Gold touches record peak on US election jitters, Middle East woes Read More »

India’s Prestige Estates Q2 revenue growth slows as approval delays drag on launches

29 Oct 2024

India’s Prestige Estates Projects reported slowing second-quarter revenue growth on Tuesday, as delayed approvals weighed on property launches in its mainstay Bengaluru market. The company’s revenue from operations rose 3% to 23.04 billion rupees ($274 million), compared to a 57% jump in the year-ago quarter, as the number of apartments it sold in the July-to-September …

India’s Prestige Estates Q2 revenue growth slows as approval delays drag on launches Read More »

Indian IT products distributor Redington’s profit falls on subdued demand in some markets

29 Oct 2024

BENGALURU (Reuters) – Indian IT products distributor Redington reported a 3.5% fall in second-quarter profit on Tuesday, hurt by slowdown in demand for personal computers and phones in some of its international markets. Over the last few quarters, markets like Turkey and Africa have been sore spots for Redington, which distributes gadgets produced by Apple …

Indian IT products distributor Redington’s profit falls on subdued demand in some markets Read More »

India’s Force Motors posts quarterly profit jump on engine sales to luxury carmakers

29 Oct 2024

(Reuters) – Indian automaker Force Motors reported a nearly 44% rise in quarterly profit on Tuesday, as higher sales of engines to BMW and Mercedes helped mitigate a slump in sales of its multi-seater vans. Force Motors makes engines for BMW and Mercedes cars in India and also manufactures commercial vehicles, including vans, school buses …

India’s Force Motors posts quarterly profit jump on engine sales to luxury carmakers Read More »

India’s CONCOR reports quarterly profit rise on higher cargo volume

29 Oct 2024

(Reuters) – Container Corporation of India (CONCOR) reported a 9% rise in second-quarter profit on Tuesday, helped by higher cargo volume. The state-run logistics company’s consolidated profit before tax rose to 5.26 billion rupees ($62.6 million) for three months ending Sept. 30 from 4.82 billion rupees a year ago. Revenue from operations rose 4.2% to …

India’s CONCOR reports quarterly profit rise on higher cargo volume Read More »

Close Bitnami banner
Bitnami