BENGALURU (Reuters) – India’s foreign exchange reserves rose for a third straight week, hitting a lifetime high of $670.86 billion as of July 19, data from the Reserve Bank of India showed on Friday. The reserves climbed by $4 billion in the reporting week, after rising by a total of $14.9 billion in the prior …
India’s foreign exchange reserves rise for third week, hit record high Read More »
BENGALURU (Reuters) – India’s Shriram Finance reported a 18% rise in first-quarter profit on Friday on strong demand in its key lending segments. The company earned a standalone net profit of 19.81 billion rupees ($11.9 million) in the quarter ended June 30, compared to 16.75 billion rupees, a year ago. Its shares, which were up …
India’s Shriram Finance posts higher Q1 profit on robust loan demand Read More »
By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) – India’s Paytm has got approval from the government for its 500 million rupees ($5.97 million) investment in a key subsidiary, a top finance ministry official told Reuters on Friday. The approval, which was stuck for months due to the company’s link to China, will remove …
India’s Paytm gets government nod for investment in payments arm Read More »
BENGALURU (Reuters) – India’s TTK Prestige reported a 13% fall in its first-quarter profit on Friday as budget-conscious consumers opted for cheaper brands. The kitchenware maker reported a consolidated net profit of 417.5 million rupees ($5 million) in the quarter ended June 30 from 480.2 million rupees a year earlier. Revenue from operations stayed flat …
India’s TTK Prestige posts lower Q1 profit on weak demand Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee declined to its weakest level on record on Friday, pressured by dollar demand from local oil companies, custodial banks and tepid risk sentiment. The rupee was at 83.7175 against the U.S. dollar as of 10:35 a.m. IST, having slipped to a record low of 83.7250 in …
Rupee slips to all-time low, traders expect gradual depreciation to persist Read More »
SINGAPORE (Reuters) – India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) has issued an expression of interest to sell around 240,000 metric tons (1.89 million barrels) of jet fuel term supplies starting September, three sources said on Friday. The state-owned refiner is looking to sell at least one 40,000-60,000 ton cargo per month from September to …
India’s MRPL issues expression of interest to sell jet fuel term supplies, sources say Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Information technology stocks lifted Indian benchmark indexes on Friday as an improvement in economic growth in the U.S., a key market for the sector, boosted sentiment. The NSE Nifty 50 rose 0.7% to 24,578.13 as of 10:20 a.m. IST, while the S&P BSE Sensex added 0.6% to 80,526.42. Ten of …
Indian shares rise after a five-session drop, IT leads Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – The Reserve Bank of India’s latest draft guidelines aimed at enhancing the liquidity resilience of lenders, amidst an increased use of digital infrastructure, are expected to boost demand for government bonds over the medium term, traders said. Late on Thursday, the central bank proposed that banks apply an additional …
India cenbank’s proposed liquidity norms to raise demand for bonds Read More »
By Aditya Kalra, Arpan Chaturvedi NEW DELHI (Reuters) -The CEO of Diageo’s Indian business has been summoned by New Delhi anti-corruption police investigating billing and discount practices involving government agencies running liquor retail shops between 2017 and 2020, according to a source and a police notice seen by Reuters. Hina Nagarajan, the CEO of United …
Diageo India’s CEO summoned by Delhi city police in liquor payments case Read More »
(Reuters) – Indian drugmaker Mankind Pharma said late on Thursday it would acquire Bharat Serums and Vaccines Ltd in a deal valued at around 136.30 billion rupees ($1.63 billion), including debt. The deal will give Mankind, the maker of Manforce condoms and one of India’s largest pharmaceutical companies, access to Bharat Serums’ products targeting women’s …
India’s Mankind Pharma to buy Bharat Serums in a $1.6 billion deal Read More »
