Reuters India Business

India’s National Fertilizers posts Q4 profit on lower expenses

30 May 2024

BENGALURU (Reuters) – India’s National Fertilizers reported a fourth-quarter profit on Thursday on lower expenses. The state-run agricultural chemicals maker reported a consolidated profit of 2.08 billion Indian rupees ($25 million) for the quarter ended March 31, compared to a loss of 2.36 billion rupees a year ago. Revenue fell 15.9% to 52.84 billion rupees …

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India’s consumption-linked themes ‘ripe for revival’, says Ambit Asset’s Bothra

30 May 2024

By Bharath Rajeswaran BENGALURU (Reuters) – Hopes of a normal monsoon and a likely thrust from India’s next government to address the stress in the bottom of the market are likely to spur consumption-linked themes for the rest of 2024, a fund manager at Ambit Asset Management said. “Irrespective of whichever government comes to power …

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Indian shares fall for fifth session on weak global cues, election uncertainties

30 May 2024

By Sethuraman N R BENGALURU (Reuters) – Indian shares fell for a fifth straight session on Thursday, pressured by weakness in global peers, while some investors trimmed positions ahead of federal election results. The NSE Nifty 50 closed down about 1% at 22,488 points, while the S&P BSE Sensex lost 0.9% to 73,885 points. The …

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JPMorgan to grow India headcount by 5%-7% for next few years, senior exec says

30 May 2024

By Ashwin Manikandan and Haripriya Suresh BENGALURU (Reuters) – JPMorgan Chase plans to grow its headcount in India by 5%-7% annually over the next few years, a senior executive told Reuters, as the Wall Street bank doubles down in one of the hottest markets globally for talent to support international operations. The New York-based lender …

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India cenbank’s net income surges on the back of lower provisions in FY24

30 May 2024

By Swati Bhat and Siddhi Nayak MUMBAI (Reuters) -The Indian central bank’s net income surged 141% for the financial year ended March 2024, largely on the back of a sharp contraction in expenditures, particularly lower provisions, its annual report showed on Thursday. The Reserve Bank of India’s net income rose to 2.11 trillion rupees ($25.30 …

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India’s home prices to rise steadily, affordable housing supply to lag demand: Reuters poll

30 May 2024

By Milounee Purohit BENGALURU (Reuters) – Average home prices in India are expected to rise steadily over the next few years as the country’s rich drive up demand for luxury housing, according to property experts polled by Reuters who also said there would be a shortage of affordable homes. Home purchases are increasingly driven by …

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S&P upgrades outlook on India’s sovereign rating to ‘positive’

30 May 2024

By Swati Bhat and Nikunj Ohri MUMBAI (Reuters) -S&P Global Ratings raised India’s sovereign rating outlook to ‘positive’ from ‘stable’ while retaining the rating at ‘BBB-‘, saying on Wednesday the country’s robust economic expansion was having a constructive impact on its credit metrics. “We expect sound economic fundamentals to underpin the growth momentum over the …

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S&P Global will likely raise India’s rating within 2 years, Citi says

30 May 2024

MUMBAI (Reuters) – Citi expects S&P Global Ratings’ to upgrade India’s sovereign rating by late 2026 given the ratings agency’s confidence in the South Asian nation’s macro drivers as well as the flow of economic and political cycles, it said on Thursday. S&P raised India’s sovereign rating outlook to ‘positive’ from ‘stable’ on Wednesday, citing …

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