By Harshit Verma (Reuters) – Gold prices rose to an all-time high on Monday as a cocktail of factors from U.S. rate cut expectations, China’s stimulus measures to geopolitical tensions lifted demand, with the momentum also carrying silver to a more than 11-year peak. Spot gold rose 0.9% to $2,435.96 per ounce as of 2:26 …
‘Perfect storm’ steers gold to another record high; silver jumps Read More »
BENGALURU (Reuters) – Steel Authority of India reported a nearly 3% fall in fourth-quarter profit on Monday, hurt by softer steel prices and higher costs. The state-owned firm’s consolidated net profit for the quarter ended March 31 declined to 11.26 billion rupees ($135.22 million) from 11.59 billion rupees a year earlier. Input costs rose about …
India’s SAIL posts drop in Q4 profit on softer steel prices, higher costs Read More »
BENGALURU (Reuters) – Appliances maker Whirlpool of India reported a smaller-than-expected fourth-quarter profit on Monday, hurt by stiff competition and higher input costs, while demand remained steady for its cooling appliances. Consolidated net profit rose nearly 24% to 775.9 million rupees ($9.3 million) in the three months ended March 31, missing analysts’ estimates of 899.6 …
Whirlpool’s India arm misses Q4 profit view on stiff competition, higher input costs Read More »
BENGALURU (Reuters) – State-run explorer Oil India reported a higher-than-expected profit for the fourth quarter on Monday, helped by higher crude oil prices and strong demand. Its profit rose 13.5% to 20.29 billion rupees ($243.7 million) from a year earlier, beating analyst expectations of a 9% fall in profit to 16.20 billion rupees, according to …
State-backed Oil India beats profit estimates on higher crude prices Read More »
(Reuters) – India Cements reported on Monday a narrower loss in the fourth quarter, as a tighter lid on costs helped cushion the impact from a revenue drop amid lower cement prices. The South India-focused cement firm’s losses came in at 293.3 million rupees ($3.5 million) for the January-March period, compared with a loss of …
India Cements’ quarterly loss narrows on cost-control measures Read More »
BENGALURU (Reuters) – India’s currency, debt and equity markets will be closed on Monday, May 20, for a holiday. Trading will resume on Tuesday, May 21. The blue-chip NSE Nifty 50 rose 0.16% to 22,502 points and the S&P BSE Sensex added 0.12% to end at 74,005.94 on Saturday, in a special trading session to …
By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) – Indian shares were little changed in a special session conducted on Saturday for stock exchanges to test a failsafe system for equity trading. Indian equities traded in two special sessions from 9:15 a.m. to 10 a.m. (0345-0430 GMT) from a primary site, and then from 11:30 …
MUMBAI (Reuters) – Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday. The motion called for the royalty paid to its parent to climb to 5.25% of net sales, net of taxes, compared to the current level of 4.5%. The …
Nestle India shareholders vote against increase in royalty to Swiss parent Read More »
By Harshit Verma (Reuters) – Gold prices, aided by China’s stimulus measures, looked poised to clock their second consecutive weekly gain on Friday on renewed hopes for U.S. interest rate cuts, with silver breaking the $30 barrier to hit an 11-year high. Spot gold rose 1.5% to $2,412.83 per ounce by 1745 GMT, closing in …
China stimulus, US rate cut bets lift gold, silver soars above $30 mark Read More »
BENGALURU (Reuters) – Indian real estate developer Sobha reported a near 86% tumble in fourth-quarter profit on Friday, hurt by weak sales in its mainstay Bengaluru market. Overall housing sales in Bengaluru dipped 2% during the January-March period, in contrast to other top seven cities, a report by real estate consultancy firm Knight Frank showed. …
Indian realty developer Sobha’s fourth-quarter profit slumps on weak Bengaluru sales Read More »
