Reuters India Business

By Siddhi Nayak MUMBAI (Reuters) -HDFC Bank, India’s largest private lender, aims to lower its loan-to-deposit ratio (LDR) to pre-merger levels in the next two to three years, its chief financial officer said on Saturday. The bank’s LDR was at around 86-87% prior to its merger with parent Housing Development Finance Corporation in July 2023, …

India’s HDFC Bank sees pre-merger loan-to-deposit ratio in 2-3 years, CFO says Read More »

By Anushree Mukherjee and Swati Verma (Reuters) – Gold surged above the historic threshold of $2,700-per-ounce on Friday, powered by escalating tensions in the Middle East, uncertainties around the U.S. elections and relaxed monetary policy expectations that pushed the metal into uncharted territory. Spot gold was up 1% at $2,720.05 per ounce by 02:58 p.m. …

Global uncertainties drive gold above unprecedented $2,700/oz milestone Read More »

By Sethuraman N R and Neha Arora (Reuters) -India’s Hindustan Zinc is discussing the possibility of splitting the company into two units with the Indian government, which is opposed to the proposal, CEO Arun Misra said on Friday. Misra’s comments follow the Indian government’s rejection of a similar proposal in March, as the miner’s largest …

India’s Hindustan Zinc to pursue demerger, CEO says Read More »

(Reuters) – Indian steel producer JSW Steel said on Friday its joint venture firm entered into a deal to buy thyssenkrupp Electrical Steel India for $482.1 million. Jsquare Electrical Steel Nashik is a 50:50 joint venture between JSW Steel and Japanese steel producer JFE Steel Corp. Thyssenkrupp Electrical Steel – the Indian unit of German …

India’s JSW Steel to acquire thyssenkrupp Electrical Steel India via JV Read More »

By Arpan Chaturvedi NEW DELHI (Reuters) – Byju Raveendran, the founder of what was once India’s biggest start-up, Byju’s, said he overestimated the growth potential of his education-technology company which is now “worth zero” as it faces insolvency, but remains hopeful of rescuing it. Byju’s, which operates in more than 21 countries, became popular during …

‘Worth zero’: Founder of India’s once biggest startup Byju’s concedes mistakes Read More »

(Reuters) – India’s ICICI Lombard General Insurance reported a 20% increase in its second-quarter profit on Friday, aided by higher premiums in its motor and health insurance units. The company’s profit after tax rose to 6.94 billion rupees ($82.6 million) for the three months ended Sept. 30 from 5.77 billion rupees a year earlier. Analysts …

Indian insurer ICICI Lombard’s Q2 profit jumps on strong motor, health segments Read More »