Reuters India Business

By Anant Chandak BENGALURU (Reuters) – Business activity in India expanded robustly in May, helped by the dominant services industry, according to a survey that also showed exports rising at a record pace and the sharpest job addition rate in nearly 18 years. HSBC’s flash India Composite purchasing managers’ Index, compiled by S&P Global, rose …

India May business growth robust as exports rise at record pace, PMI shows Read More »

BENGALURU (Reuters) – Walt Disney has struck a deal to sell its stake in Tata Play, valuing Indian conglomerate Tata Group’s satellite TV provider at about $1 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter. The stake sale news comes as the U.S.-based media giant looks to focus on its merger …

Disney strikes deal to sell stake in India’s Tata Play, Bloomberg News reports Read More »

By Indranil Sarkar BENGALURU (Reuters) – Indian budget hotel aggregator Oyo has withdrawn its papers for an initial public offering (IPO), regulatory disclosures showed, the second time the company has pulled its flotation plans in nearly three years. The reason for the withdrawal was not immediately clear from the disclosure on the Securities and Exchange …

Softbank-backed Oyo withdraws IPO papers for second time Read More »

By Swati Bhat and Nikunj Ohri MUMBAI (Reuters) -The board of India’s central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts’ and government projections. The government had budgeted a dividend of 1.02 trillion rupees from the Reserve …

India central bank’s record dividend to government may reduce fiscal gap Read More »

By Navamya Ganesh Acharya BENGALURU (Reuters) -Jubilant FoodWorks reported a rise in fourth-quarter profit on Wednesday as the Domino’s Pizza franchisee benefited from a one-time gain and more stores openings. It reported profit before tax of 2.25 billion rupees ($27 million) for the quarter ended March 31, which included a one-time gain of 1.70 billion …

Domino’s India franchisee posts Q4 profit rise on one-time gain, store expansion Read More »

BENGALURU (Reuters) – India’s FSN E-Commerce Ventures, parent of online beauty products seller Nykaa, reported a nearly three-fold jump in quarterly net profit attributable to shareholders on Wednesday as consumers were drawn to the heavy discounts it offered. The company also announced an investment of up to 200 million rupees ($2.4 million) in unit FSN …

Indian beauty products retailer Nykaa posts near three-fold jump in Q4 profit Read More »