Reuters India Business

(Reuters) -India’s Adani Ports and Special Economic Zone said it is “well positioned” to hit the upper end of its core profit forecast for fiscal year 2025, after its second-quarter earnings missed estimates on Tuesday. The country’s largest private port operator by volumes reiterated its fiscal year 2025 cargo volume forecast in the 460 million …

India’s Adani Ports maintains FY25 core profit forecast after Q2 earnings miss Read More »

NEW DELHI (Reuters) – India’s JSW Steel said on Tuesday it has signed a preliminary agreement with South Korea’s steel major POSCO to set up an integrated steel plant with an initial capacity of 5 million metric tons a year. JSW Steel, India’s largest steelmaker by capacity, will also explore a collaboration with POSCO on …

India’s JSW Steel inks pact with S. Korea’s POSCO to set up steel plant Read More »

(Reuters) – Indian food delivery giant Swiggy [SWIG.NS] will likely price its $1.35 billion domestic initial public offering, which opens next week, at 371-390 rupees per share ($4.41-$4.64), sources with direct knowledge of the matter told Reuters. The IPO will open for subscription from Nov. 6 to Nov. 8, the company’s red herring prospectus dated …

India’s Swiggy likely to price $1.35 billion IPO at 371-390 rupees/share, sources say Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee remained under pressure on Tuesday in the wake of a drop in the Chinese yuan and a fall in local equities amid foreign outflows. The rupee was at 84.0775 to the U.S. dollar at 10:56 a.m. IST, unchanged from the previous session. The offshore yuan dropped …

Rupee battles yuan weakness, losses in local equities Read More »

By Anjana Anil (Reuters) – Gold’s record rally took a breather on Monday, as U.S. Treasury yields and dollar gained the upper hand, while investors awaited a series of U.S. economic data due this week for cues on the Federal Reserve’s interest rate outlook. Spot gold fell 0.2% to $2,743.31 an ounce by 1:55 p.m. …

Gold eases as Treasury yields rise, focus on US data Read More »

(Reuters) – Geopolitical conflicts and uncertainty about the trade policies of major economies are among the biggest risks for India’s economy, the government’s monthly economic report said on Monday, maintaining the current growth forecast. “Risks to growth arise from escalating geopolitical conflicts, deepening geoeconomic fragmentation and elevated valuations in financial markets in some advanced economies,” …

India gov’t report maintains economic growth forecast but flags global risks Read More »

By Rishika Sadam and Kashish Tandon (Reuters) -Sun Pharmaceuticals, India’s largest drugmaker by revenue, reported second-quarter profit above analysts’ estimates on Monday, aided by higher demand for its specialty drugs that are used to treat uncommon medical conditions. The Mumbai-based firm’s net profit rose 28% to 30.40 billion rupees (nearly $362 million) for the three …

India’s Sun Pharma beats Q2 profit view on higher demand for specialty drugs Read More »

(Reuters) -India’s Star Health and Allied Insurance Company said on Monday that it did not find any evidence of wrongdoing by the company’s chief information security officer in a data leak incident. The company said that alleged communication between a hacker and the security officer were fabricated by the hacker. In August, Star Health faced …

India’s Star Health absolves security chief in data leak incident Read More »