BENGALURU (Reuters) – Brookfield India Real Estate Trust (BIRET) has signed a binding agreement to acquire a 50% stake in four Bharti Enterprises properties for 60 billion rupees ($719 million), including debt, it said on Thursday. The deal will take place through a preferential allotment of units in BIRET at 300 rupees per unit to …
Brookfield India REIT to buy 50% stake in four Bharti Enterprises assets Read More »
BENGALURU (Reuters) – Indian pharmaceutical company Mankind Pharma posted a more than 65% rise in its fourth-quarter profit on Wednesday, helped by strong domestic demand in its chronic drugs segment. The company also approved a fundraise of up to 75 billion rupees or an equivalent amount via issuance of shares under qualified institutional placement, it …
India’s Mankind Pharma’s Q4 profit jumps on strength in chronic drugs segment Read More »
By Rahul Paswan (Reuters) – Gold climbed to near one-month high on Wednesday, aided by a weaker dollar and lower Treasury yields after data showed U.S. consumer prices rose less than expected in April, boosting chances of the Federal Reserve cutting interest rates. Spot gold climbed over 1% at $2,386.63 per ounce by 1816 GMT. …
Gold climbs as cooling US inflation bolsters Fed rate cut bets Read More »
(Reuters) -India has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from May 16, according to a notification issued on Wednesday. The tax, which is revised every two weeks, remains unchanged at zero for diesel and aviation turbine fuel. The government on May 1 …
BENGALURU (Reuters) – India’s Jindal Stainless reported a 34.6% fall in fourth-quarter profit on Wednesday, as lower steel prices and weak international demand offset a surge in the domestic market. The country’s biggest stainless steel maker by volumes posted a consolidated net profit of 5.01 billion rupees ($60 million) for the quarter ended March 31, …
India’s Jindal Stainless’ Q4 profit falls as softer steel prices offset demand Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -India’s merchandise trade deficit in April was wider than expected, hurt by lower exports and a surge in gold imports, government data showed on Wednesday. India’s April merchandise trade deficit stood at $19.1 billion, according to a Reuters calculation, higher than economists’ expectation of $17.23 billion, according to …
India’s April merchandise trade deficit widens on lower exports Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s weight in MSCI’s Global Standard index, which tracks emerging market stocks, has risen to another record high, boosting prospects of more inflows into its equity markets. With this, India has further narrowed the gap with China on the index. While China’s weightage in the index will fall to 25% …
India’s weight in key MSCI equity index hits another high, to boost inflows Read More »
BENGALURU (Reuters) – Drugmaker Granules India posted a 1.6% fall in fourth-quarter revenue on Wednesday, hurt by a decline in paracetamol sales and price erosion. The company’s consolidated revenue fell year-on-year to 11.76 billion rupees (nearly $141 million) for the three months to March 31. Granules, which focuses on making active pharmaceutical ingredients (API), holds …
Granules India posts Q4 revenue fall on weak paracetamol sales, price erosion Read More »
By Neha Arora NEW DELHI (Reuters) – State-run miners Coal India and NMDC are exploring lithium mines in Chile and Australia, Secretary of Mines V.L. Kantha Rao said on Wednesday. The Indian mines ministry is also encouraging other state-owned companies, such as ONGC Videsh, to scout for critical minerals overseas, Rao told reporters at the …
Coal India, NMDC exploring lithium mines overseas, mines secretary says Read More »
By Rishika Sadam HYDERABAD (Reuters) – New Zealand’s food safety regulator on Wednesday said it is investigating possible contamination in spice products of top Indian brands MDH and Everest after they faced scrutiny in other countries. The United States and Australia have been looking into contamination after Hong Kong last month suspended sales of three …
New Zealand looking into Indian spice brands over contamination Read More »
