Reuters India Business Archives - Page 517 of 1191

India’s Disney-Reliance JV to stream live sports only on Hotstar, sources say

18 Oct 2024 18 Oct 2024

By Aditya Kalra NEW DELHI (Reuters) -All live sporting events streamed by the newly merged Disney-Reliance business in India, including popular Indian Premier League (IPL) cricket, will only be available on Disney’s Hotstar app, three sources familiar with the matter told Reuters. The decision marks the first major integration of the businesses and signals billionaire …

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Interest rate cut at this stage would be ‘premature,’ India cenbank chief says

18 Oct 2024 18 Oct 2024

MUMBAI (Reuters) – The head of India’s central bank said on Friday that it would be “very premature” and risky to lower interest rates at this stage. While inflation is expected to moderate going forward, the central bank would only think of rate cuts when it has confidence that inflation is durably aligned to its …

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India’s Jindal SAW posts 32.5% jump in Q2 profit

18 Oct 2024 18 Oct 2024

BENGALURU (Reuters) – India’s Jindal SAW reported a rise in second-quarter profit on Friday, as demand in its key Middle East and North Africa (MENA) markets remained steady while expenses came in nearly flat. The company, which makes steel pipes for the energy, transportation and water sectors, said its consolidated profit after tax grew 32.5% …

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India’s Eruditus raises $150 million in TPG-led funding round

18 Oct 2024 18 Oct 2024

By Haripriya Suresh BENGALURU (Reuters) – Indian educational technology company Eruditus has raised $150 million in a new funding round led by private equity firm TPG, at a time when the funding environment for edtech companies has been subdued. Eruditus’ Series F round, which also saw the participation of existing backers SoftBank, Leeds Illuminate, Accel, …

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India’s Tata Consumer beats Q2 profit estimates on higher demand for packaged food

18 Oct 2024 18 Oct 2024

(Reuters) – India’s Tata Consumer Products reported second-quarter profit above estimates on Friday, as the salt-to-spices maker benefited from higher demand for its packaged food amid a pickup in rural demand. The Tata group-owned company reported a near-8% jump in consolidated net profit to 3.64 billion rupees ($43.3 million) for the three months ended Sept. …

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Indian broadcaster Zee’s Q2 margin jumps, lifting shares

18 Oct 2024 18 Oct 2024

(Reuters) – Indian broadcaster Zee Entertainment Enterprises posted a fall in second-quarter adjusted profit on Friday, although a sharp drop in expenses lifted its margins, sending shares to close 5.3% higher. Zee, whose $10 billion merger with Sony’s Indian unit fell through earlier this year, reported a core profit margin of 16% for the quarter …

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India’s FX reserves log worst fall in 2-1/2 years

18 Oct 2024 18 Oct 2024

MUMBAI (Reuters) – India’s foreign exchange reserves dropped for a second consecutive week, falling to a one-month low of $690.43 billion as of Oct. 11, data from the Reserve Bank of India (RBI) showed on Friday. The reserves fell by $10.75 billion in the reporting week, the biggest drop since April 1, 2022. They had …

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India’s steel ministry favours temporary tax to check imports, source says

18 Oct 2024 18 Oct 2024

By Neha Arora and Mayank Bhardwaj NEW DELHI (Reuters) – India’s steel ministry favours a temporary tax to curb rising steel imports, a senior official with direct knowledge of the matter said, as it seeks to protect steelmakers reeling from a surge in cheaper Chinese imports. A temporary “safeguard duty” would help curb Chinese imports, …

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India’s Manappuram Finance tanks to over 4-yr low on downgrades after cenbank bars unit

18 Oct 2024 18 Oct 2024

(Reuters) – Manappuram Finance’s shares slumped 16% on Friday, their biggest decline since March 2020, after the Indian central bank’s lending restrictions on the company’s unit triggered rating downgrades due to concerns over a potential hit to earnings. The non-bank lender’s shares fell as much as 18% to 145.42 rupees, their lowest in 10 months, …

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India’s Oberoi Realty posts Q2 profit jump on strong demand for premium housing

18 Oct 2024 18 Oct 2024

(Reuters) – India’s Oberoi Realty reported a jump in second-quarter profit boosted by sustained demand for its premium projects, including luxury homes and office spaces. The real-estate developer’s consolidated net profit jumped 29% to 5.89 billion rupees ($70 million) in the three months ended Sept. 30. Its revenue from operations grew 8.5% to 13.20 billion …

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