(Reuters) – Indian real estate developer Brigade Enterprises reported a nearly three-fold surge in fourth-quarter profit on Tuesday, easily beating analysts’ expectations, due to strong real estate demand. Its consolidated profit attributable to shareholders surged to 2.06 billion rupees ($24.8 million) in the quarter, from 692.5 million rupees last year, which included a pandemic-related impairment …
By Dharamraj Dhutia MUMBAI (Reuters) – Foreign investors are increasingly being drawn to the traditionally overlooked rupee-denominated corporate debt market in India as they gear up for the inclusion of domestic government securities to a global bond index next month, recent data showed. While current investments remain modest, four bankers and fund managers said they …
Foreigners boost India corporate debt buying before government bond index inclusion Read More »
(Reuters) – India’s TTK Prestige reported a marginal drop in its fourth-quarter profit on Tuesday, as inflation-weary consumers tightened their spending on discretionary items. The cookware maker’s consolidated net profit after tax came in at 574.2 million rupees ($6.9 million) in the quarter ended March 31, from 580.1 million rupees a year earlier. Income from …
India’s TTK Prestige posts lower profit as consumers tighten spending Read More »
By Aditya Kalra NEW DELHI (Reuters) – Japan’s Sony has appointed a Walt Disney executive, Gaurav Banerjee, as its new India chief executive to lead its television and other media businesses, two people familiar with the matter told Reuters on Tuesday. Banerjee has resigned from Disney’s India unit where he was the head of content …
Sony appoints Disney’s Banerjee as new India CEO, sources say Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Tuesday, unable to gain from an uptick in most Asian peers, with traders anticipating rangebound moves until the outcome of India’s general election. The rupee was at 83.1325 against the U.S. dollar as of 09:40 a.m. IST, barely changed from its close …
Rupee lingers in narrow band even as most Asian currencies inch up Read More »
BENGALURU (Reuters) -India’s Adani Enterprises said on Tuesday its board has approved raising of up to 166 billion rupees ($2 billion). The flagship firm of the Adani Group will raise funds via an issue of shares or other securities by way of qualified institutional placements or any other permissible mode, it said in an exchange …
India’s Adani Enterprises to raise up to $2 billion Read More »
(Reuters) – India’s Adani Group has been considering an application for a licence to operate on the country’s public digital payments network and is in talks with banks to finalise plans for a co-branded credit card, the Financial Times reported on Tuesday. The plans to dial up consumer businesses came as billionaire Gautam Adani’s ports-to-power …
India’s Adani Group plans e-commerce, payments ventures, FT reports Read More »
By Manvi Pant and Dimpal Gulwani BENGALURU (Reuters) -Indian equity benchmarks advanced on Tuesday, helped by gains in metal stocks on higher global aluminium prices and an earnings-led rally in pharma shares. The NSE Nifty 50 was up 0.2% at 22,985.75 points, while the S&P BSE Sensex gained 0.1% to 75,475.32 points, as of 11:10 …
Metal, pharma stocks drive Indian benchmarks higher Read More »
By Nikunj Ohri and Nishit Navin BENGALURU (Reuters) -Life Insurance Corp of India, the country’s biggest insurer, reported on Monday a drop in its new business margin in the fourth quarter, while its profit rose slightly. Value of new-business margin (VNB), a measure of the profit margin of new premiums earned, fell to 17.2% for …
New business margin at India’s LIC falls, profit rises slightly Read More »
By Rishika Sadam HYDERABAD (Reuters) – Indian drugmakers, which have the U.S. market as a key segment, will sustain their revenue improvement in fiscal 2025 due to drug shortages in the United States, Mumbai-based India Ratings and Research said on Monday. India is a hub of bulk generic drug manufacturing and drugmakers including Dr Reddy’s, …
