Reuters India Business

(Reuters) -Shares of India’s IndusInd Bank tumbled 15% on Friday, set for their worst day in over four years after the lender warned it would miss its full-year loan growth target, becoming the latest lender to flag the stress in microfinance loans. The bank also posted an unexpected drop in second-quarter profit due to a …

India’s IndusInd Bank tumbles 15% on becoming latest to warn of microfinance loan stress Read More »

By Anjana Anil (Reuters) – Gold prices rose by nearly 1% on Thursday to trade near record highs as safe-haven demand from persistent geopolitical concerns bolstered prices, while palladium saw a 9% surge on concerns of supply sanctions on top-producer Russia. Spot gold was up 0.7% at $2,735.55 per ounce by 1:40 p.m. ET (1740 …

Gold climbs on safety rush, supply threat bolsters palladium price Read More »

(Reuters) -Indian tobacco-to-hotels conglomerate ITC missed second-quarter profit estimates on Thursday, hit by higher costs of raw materials and a broader slowdown in demand for consumer goods. Consumers in the world’s most populous country, particularly in urban areas, have been cutting back on spending due to rising prices of essentials, including food, squeezing bottomlines of …

India’s ITC misses profit estimates on higher costs, subdued demand Read More »

(Reuters) – India’s PNB Housing Finance reported a near 23% rise in second-quarter profit on Thursday, helped by a strong demand for home loans. The company’s consolidated net profit rose to 4.70 billion rupees ($11.90 million) in the quarter ended Sept. 30, from 3.83 billion rupees a year earlier. The demand for houses, especially premium …

India’s PNB Housing Finance posts Q2 profit rise on strong demand for home loans Read More »

By Arsheeya Bajwa MUMBAI (Reuters) – Nvidia’s leather-jacket-clad CEO Jensen Huang got a rock star welcome at the company’s AI summit in India on Thursday, with passes sold out and tech enthusiasts spending thousands of rupees to travel to the event. The reception Huang received in India’s commercial capital Mumbai was reminiscent of the “Jensanity” …

Nvidia CEO Jensen Huang gets rock star treatment from India’s tech enthusiasts Read More »

By Shivangi Acharya NEW DELHI (Reuters) -Agriculture is the “most problematic” area in talks to secure a free trade deal between India and the European Union, German Economy Minister Robert Habeck said on Thursday, suggesting that it would be better to focus on the industrial sector first. Habeck is in India for a regional business …

Agriculture “most problematic” area in India-EU free trade talks, German minister says Read More »