By Kashish Tandon BENGALURU (Reuters) -India’s Paytm on Friday said profitability and revenue should start improving from the second quarter due to better cost management, sending its shares higher, even as it posted its biggest quarterly loss since going public in 2021. The digital payments firm, hit by the wind down of its payments banking …
India’s Paytm sees earnings rebound from Q2, shares rise Read More »
By Manvi Pant and Bharath Rajeswaran BENGALURU (Reuters) -Indian shares reversed gains after rising to record highs at the open on Friday as broad-based profit booking outweighed results-driven gains in heavyweight Infosys . The NSE Nifty 50 and the S&P BSE Sensex rose about 0.3% each to hit record high levels at the open, before …
Indian shares drop as investors sell on profit; Infosys gains Read More »
BENGALURU (Reuters) – UK-based Vedanta Resources, parent of India’s Vedanta, has settled dues worth $245.75 million to help revive operations in Konkola copper mines (KCM) in Zambia as part of a deal to take back the mines, the Indian miner said on Friday. The miner, owned by billionaire Anil Agarwal, had in November 2023 regained …
By Rahul Paswan (Reuters) – Gold prices edged higher on Thursday, as expectations of a September interest rate cut from the U.S. Federal Reserve continue to gather momentum. Spot gold was up 0.3% at $2,466.33 per ounce as of 1448 GMT. It hit an all-time high of $2,483.60 on Wednesday. U.S. gold futures also climbed …
By Shivangi Acharya and Nikunj Ohri NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi will seek to mend his relationship with voters in the federal budget to be announced next week, economic analysts said, citing possible steps to boost jobs and incomes as growth in the economy remains uneven and food prices continue to …
India’s Modi to focus on jobs, incomes in first budget after election setback Read More »
CHENNAI (Reuters) – Indian department-store chain Shoppers Stop swung to a quarterly loss on Thursday, its first in nine quarters, as high inflation weighed on consumer spending on discretionary products, including apparel and beauty products. India’s retail inflation rate hovered around 5% during April-June, mostly due to high food prices, tending to lead to lower …
India’s Shoppers Stop swings to quarterly loss on demand slowdown Read More »
By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) – Infosys topped quarterly results estimates on Thursday as a recovery in demand from clients in its mainstay financial services business helped, prompting India’s second-largest IT services firm to raise its yearly revenue forecast. U.S.-listed shares of the Bengaluru-based company rose as much as 5.1% as …
India’s Infosys raises annual sales forecast as IT demand returns Read More »
BENGALURU (Reuters) – Indian tyremaker CEAT beat first-quarter profit estimates on Thursday, as price hikes coupled with healthy demand in the replacement market helped outweigh higher rubber costs. CEAT’s profit increased 6.6% to 1.54 billion rupees for the April-June quarter, beating analysts’ expectation of 1.52 billion rupees, according to LSEG data. Revenue rose 8.8% to …
India’s CEAT Q1 profit beats estimates, tyremaker sees demand rising Read More »
By Swati Bhat MUMBAI (Reuters) -India’s central bank said on Thursday that the economy’s natural rate of interest has increased since the pandemic and will rise further, driven by the growth of potential output, which analysts said could limit the scope to ease monetary policy. The natural rate of interest is associated with an economy …
India cenbank pegs natural rate higher, analysts caution on policy easing Read More »
BENGALURU (Reuters) – Indian engineering research and development services provider L&T Technology Services retained its full-year revenue growth forecast of 8%-10% but missed quarterly revenue expectations on Thursday due to prolonged weakness in its key U.S. market. The company’s revenue grew about 7% to 24.62 billion rupees ($294.4 million) for the three months ending June …
India’s L&T Technology retains FY rev forecast, Q1 rev misses view Read More »
