By Anant Chandak BENGALURU (Reuters) – India’s business activity accelerated at its fastest pace in three months in July thanks to strong demand, especially in the services sector, according to a survey that also showed companies hired at the fastest pace in over 18 years. The data reflected sustained growth in the private sector, which …
India’s business growth at three-month high in July, PMI shows Read More »
By Manvi Pant and Bharath Rajeswaran BENGALURU (Reuters) -Indian benchmarks were little changed on Wednesday, with sentiment still sour a day after the government raised the tax on gains from equity investments. The NSE Nifty 50 fell 0.09% to 24,456.6 as of 9:33 a.m. IST, while the S&P BSE Sensex shed 0.09% to 80,355.57. The …
Indian shares still sour after tax hike on equity investments Read More »
By Aditya Kalra, Arpan Chaturvedi NEW DELHI (Reuters) -Pernod Ricard’s latest attempt to obtain a licence to sell alcohol in India’s capital has been rejected, with New Delhi authorities citing investigations into suspected violations of the city’s liquor policy, an excise department order shows. The rejection adds to Pernod’s India woes, with the French drinks …
New Delhi city rejects Pernod liquor licence appeal, document shows Read More »
By Rahul Paswan (Reuters) – Gold prices edged up on Tuesday and were set to break a four-day losing streak, as investors awaited U.S. economic data due later this week for more clarity on the timing of the Federal Reserve’s expected rate cut this year. Spot gold was up 0.3% at $2,405.77 per ounce at …
Gold gains ground as investors eye US data for Fed clues Read More »
BENGALURU (Reuters) – United Spirits reported a bigger-than-expected increase in first-quarter profit on Tuesday, helped by strong demand for its premium alcohol brands such as Antiquity and Signature. Profit for Diageo’s India arm rose 25.6% year-on-year to 2.99 billion rupees ($35.7 million) in the April-June quarter, beating analysts’ estimates of 2.63 billion rupees, according to …
India’s United Spirits beats Q1 profit estimates on strong demand for premium brands Read More »
By Krishna N. Das, Aftab Ahmed and Shivangi Acharya NEW DELHI (Reuters) – For a politician not known to easily make concessions, Indian Prime Minister Narendra Modi’s budget on Tuesday was a successful early test of his ability to run a fickle coalition after a shock poll result last month, but it came at a …
Analysis-India’s budget reflects new power realities of Modi’s fickle coalition Read More »
By Sarita Chaganti Singh, Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) -India’s government assigned billions of dollars for job creation and regions run by key coalition partners in a budget aimed at cementing the coalition and winning back voters after Prime Minister Narendra Modi’s election setback. Tax changes unveiled in the budget included a …
India’s Modi sets aside billions for jobs, allies in post-election budget Read More »
BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance Company posted a nearly 9% rise in its first-quarter profit on Tuesday, aided by strong demand for market-linked products. The ICICI Bank-backed insurer said its profit after tax for the quarter ended June 30 rose to 2.25 billion rupees ($26.9 million) from 2.07 billion rupees a year …
By Siddhi Nayak MUMBAI (Reuters) -India needs to strengthen its manufacturing sector to create jobs in the economy and facilitate its medium-term growth prospects, an analyst at Fitch Ratings said on Tuesday following the announcement of the country’s annual budget. “Developing a strong manufacturing sector will likely be important to improving the labor market and …
India must strengthen manufacturing to create jobs, Fitch analyst says Read More »
By Sarita Chaganti Singh and Nikunj Ohri NEW DELHI (Reuters) – India’s Finance Minister has backed her economic adviser’s suggestion to allow more Chinese investment in the country, after flows were disrupted by New Delhi’s increasingly strained ties with Beijing since 2020. On Monday Chief Economic Adviser V. Anantha Nageswaran said New Delhi should focus …
India’s Finance Minister backs increasing Chinese direct investment Read More »
