By Rahul Paswan (Reuters) – Gold prices edged up on Tuesday and were set to break a four-day losing streak, as investors awaited U.S. economic data due later this week for more clarity on the timing of the Federal Reserve’s expected rate cut this year. Spot gold was up 0.3% at $2,405.77 per ounce at …
Gold gains ground as investors eye US data for Fed clues Read More »
BENGALURU (Reuters) – United Spirits reported a bigger-than-expected increase in first-quarter profit on Tuesday, helped by strong demand for its premium alcohol brands such as Antiquity and Signature. Profit for Diageo’s India arm rose 25.6% year-on-year to 2.99 billion rupees ($35.7 million) in the April-June quarter, beating analysts’ estimates of 2.63 billion rupees, according to …
India’s United Spirits beats Q1 profit estimates on strong demand for premium brands Read More »
By Krishna N. Das, Aftab Ahmed and Shivangi Acharya NEW DELHI (Reuters) – For a politician not known to easily make concessions, Indian Prime Minister Narendra Modi’s budget on Tuesday was a successful early test of his ability to run a fickle coalition after a shock poll result last month, but it came at a …
Analysis-India’s budget reflects new power realities of Modi’s fickle coalition Read More »
By Sarita Chaganti Singh, Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) -India’s government assigned billions of dollars for job creation and regions run by key coalition partners in a budget aimed at cementing the coalition and winning back voters after Prime Minister Narendra Modi’s election setback. Tax changes unveiled in the budget included a …
India’s Modi sets aside billions for jobs, allies in post-election budget Read More »
BENGALURU (Reuters) – India’s ICICI Prudential Life Insurance Company posted a nearly 9% rise in its first-quarter profit on Tuesday, aided by strong demand for market-linked products. The ICICI Bank-backed insurer said its profit after tax for the quarter ended June 30 rose to 2.25 billion rupees ($26.9 million) from 2.07 billion rupees a year …
By Siddhi Nayak MUMBAI (Reuters) -India needs to strengthen its manufacturing sector to create jobs in the economy and facilitate its medium-term growth prospects, an analyst at Fitch Ratings said on Tuesday following the announcement of the country’s annual budget. “Developing a strong manufacturing sector will likely be important to improving the labor market and …
India must strengthen manufacturing to create jobs, Fitch analyst says Read More »
By Sarita Chaganti Singh and Nikunj Ohri NEW DELHI (Reuters) – India’s Finance Minister has backed her economic adviser’s suggestion to allow more Chinese investment in the country, after flows were disrupted by New Delhi’s increasingly strained ties with Beijing since 2020. On Monday Chief Economic Adviser V. Anantha Nageswaran said New Delhi should focus …
India’s Finance Minister backs increasing Chinese direct investment Read More »
BENGALURU (Reuters) – Indian chemicals and polymers maker SRF posted a drop in profit for the sixth straight quarter on Tuesday, hurt by sustained weak demand in its mainstay chemicals business. The unit consists of specialty chemicals, fluorochemicals and agrochemicals among others, contributes nearly half of company’s quarterly revenue. SRF reported a consolidated net profit …
Indian chemicals maker SRF’s Q1 profit falls on subdued global demand Read More »
BENGALURU (Reuters) – India’s Heritage Foods reported a more than three-fold jump in quarterly profit on Tuesday, as scorching summer boosted demand for ice creams and milkshakes. The dairy producer said its consolidated profit rose 249% to 584.3 million rupees ($6.98 million) in the three months to June 30, marking the sixth consecutive quarter of …
India’s Heritage Foods profit rises more than three-fold on strong summer demand Read More »
MUMBAI (Reuters) – India will set up a 10 billion rupee ($119 million) venture capital fund to expand its space sector, Finance Minister Nirmala Sitharaman said on Tuesday, as the country sets its sights on a larger share of the global space market. Earlier this year, Prime Minister Narendra Modi’s government allowed 100% foreign direct …
India unveils 10 billion rupee venture capital fund for space sector Read More »
