By Dharamraj Dhutia MUMBAI (Reuters) – India’s central bank could cut interest rates by 100 basis points in a monetary easing cycle that is likely to start in December as inflation eases towards its 4% target, a fixed income official at Bank of America, India said. “Once inflation reaches 4%, and based on the real …
India will lower rates by 100 bps by March 2026, Bank of America official says Read More »
By Nikunj Ohri NEW DELHI (Reuters) -The Indian government is not considering any relaxation in the tax demand it sent to Infosys last month, according to a government source. The tax demand is in accordance to the good and services tax rules and the country’s second-largest IT services firm has sought ten days to submit …
India will not relax its tax demand on Infosys, source says Read More »
By Aditi Shah NEW DELHI (Reuters) -India’s biggest airline IndiGo will introduce business class seats from mid-November on a handful of domestic routes, its CEO said on Monday, the first time the no-frills carrier has departed from an all-economy cabin. IndiGo is looking to tap growing demand for upmarket travel at a time when rising …
Indian low-cost carrier IndiGo woos upmarket travellers with business class Read More »
BENGALURU (Reuters) – India’s Oil and Natural Gas Corp (ONGC) beat first-quarter profit estimates on Monday, bolstered by strong domestic fuel demand and higher price realisation. India’s fuel consumption largely rose from year-ago periods in the quarter, data from the oil ministry showed, helped by strong industrial activity. The country is the world’s third-biggest oil …
India’s ONGC tops first-quarter profit estimates on strong fuel demand Read More »
BENGALURU (Reuters) -India’s Adani Energy Solutions raised $1 billion through a share sale, which got bids from U.S. investors and sovereign wealth funds, the power distribution company said on Monday. The qualified institutional placement (QIP) was the Adani Group’s first fundraising from equity markets after a $2.5 billion share sale was scrapped in February last …
BENGALURU (Reuters) – Indian real estate developer Brigade Enterprises’ first-quarter profit more than doubled on Monday, helped by price hikes in its key Bengaluru market and sustained housing demand. The company’s consolidated net profit rose to 837.2 million rupees (about $10 million) in the quarter ended June 30, from 385.3 million rupees a year ago. …
India’s Brigade Enterprises’ profit more than doubles on higher housing prices, demand Read More »
CHENNAI/BENGALURU (Reuters) – India’s Marico, which owns the Saffola and Parachute packaged oil brands, reported a slightly bigger-than-expected increase in first-quarter profit on Monday, helped by steady demand and said its earnings would grow this year. The company’s consolidated net profit rose 8.7% to 4.64 billion rupees ($55.4 million) in the April-June quarter, just above …
India’s Marico beats Q1 profit estimates on cooking, hair oil demand Read More »
BENGALURU (Reuters) – Orient Cement reported a first-quarter profit on Monday that was nearly flat, as muted demand and lower price realisation weighed. The company’s net profit for the quarter ended June 30 inched down 0.8% to 367.1 million rupees ($4.34 million) from 370.3 million rupees a year earlier. Revenue from operations also fell 15% …
India’s Orient Cement posts nearly flat Q1 profit on muted demand, lower realisations Read More »
By Shaloo Shrivastava BENGALURU (Reuters) – Activity in India’s dominant services sector remained upbeat in July on robust demand, leading to strong job creation, despite elevated cost pressures pushing up selling-price inflation to a seven-year high, a survey showed. The HSBC final India Services Purchasing Managers’ Index, compiled by S&P Global, fell marginally to 60.3 …
India’s services growth slows a touch but still solid, PMI shows Read More »
By Jaspreet Kalra MUMBAI (Reuters) – GooglePay, Walmart-backed PhonePe and AmazonPay are among five payment firms seeking to join the Indian central bank’s digital currency pilot by offering transactions via the e-rupee, three sources directly involved in the discussions said. Indian fintech firms Cred and Mobikwik are the other two that have applied to join …
