By Jayshree P Upadhyay MUMBAI (Reuters) -U.S. based short-seller Hindenburg Research alleged on Saturday that the head of India’s market regulator, Madhabi Puri Buch, previously held investments in offshore funds also used by the Adani Group. In a late night press statement, Buch said the report’s allegations were baseless. A personal statement from Buch on …
MUMBAI (Reuters) -India’s markets regulator on Sunday asked investors to remain calm and exercise due diligence before reacting to reports such as that by US-based shortseller Hindenburg Research. Hindenburg alleged on Saturday that the head of Securities and Exchange Board of India (SEBI), Madhabi Puri Buch, previously held investments in offshore funds also used by …
By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) – The Financial Action Task Force (FATF) global anti-money laundering watchdog has asked India to improve due diligence on the bank accounts of local politicians, government officials and their families, two government sources said. The recommendation for tougher checks on the finances of politically exposed persons …
Global watchdog calls on India to boost bank scrutiny for politicians, say sources Read More »
By Rahul Paswan (Reuters) – Gold prices held steady on Friday after a sharp rise in the previous session, bolstered by a dip in U.S. Treasury yields, as investors grew confident that the Federal Reserve would lower interest rates in September. Spot gold was little changed at $2,427.73 per ounce as of 1826 GMT, after …
Gold holds ground on US Fed rate-cut hopes, lower yields Read More »
By Ananya Mariam Rajesh (Reuters) – India has become the next big bet for PepsiCo, Unilever and other packaged goods giants looking to fill the growth vacuum left by an uneven recovery in China. With India’s economy expanding at the fastest pace among major emerging markets, companies are trying to serve its diverse palate by …
From PepsiCo to P&G, India becomes next big growth bet as China lags Read More »
By Nandan Mandayam BENGALURU (Reuters) – Ola Electric Mobility’s shares surged 20% on their trading debut in Mumbai on Friday, valuing the company at $4.8 billion, as investors bet on increasing adoption of electric vehicles in the world’s largest market for two-wheelers. The stock had listed flat to its initial public offering (IPO) price of …
India’s Ola Electric surges 20% on debut on EV optimism Read More »
BENGALURU (Reuters) – Indian footwear retailer Metro Brands on Friday reported first-quarter profit and revenue that missed expectations due to muted wedding season demand. The company said its consolidated net profit after tax fell 1.2% to 917.3 million rupees ($10.93 million) in the June quarter from a year ago. Analysts, on average, had expected a …
India’s Metro Brands miss profit, sales estimates on muted wedding demand Read More »
BENGALURU (Reuters) – India’s Grasim Industries reported a first-quarter loss on Friday, as its newly-launched paint business hurt margins while it struggled to keep a lid on costs. Indian paint manufacturers are grappling with declining customer loyalty as consumers increasingly turn to more affordable options. In response, companies have been slashing prices in an effort …
India’s Grasim posts loss in Q1 as paint business drags margins Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Friday, led by information technology stocks after U.S. labour market data eased some of worries of a recession in the world’s top economy. The NSE Nifty 50 index rose 1.25% to 24,418.2 as of 9:49 a.m IST, and the S&P BSE Sensex added 1.29% to 79,902.51. …
Indian shares advance, led by IT on easing US recession worries Read More »
BENGALURU (Reuters) – Indian retailer Trent reported a two-fold jump in first-quarter profit on Friday, boosted by demand at its cheaper Zudio outlets, which cater to budget-conscious consumers. The retailer’s shares jumped 10% to a record high after the results. The Tata Group-owned company’s consolidated net profit rose to 3.93 billion rupees ($47 million) for …
Indian retailer Trent posts two-fold rise in profit, shares hit record high Read More »
