By Rahul Paswan and Brijesh Patel (Reuters) – Gold prices rebounded on Tuesday, helped by a pullback in the dollar and Treasury yields after data showed U.S. producer prices rose more than expected in April, suggesting inflation remained high. Spot gold was up about 1% at $2,358.98 per ounce by 1817 GMT after dropping 1% …
Gold regains ground as dollar, yields slip post US PPI data Read More »
BENGALURU (Reuters) – Indian non-banking financial companies (NBFC) will see some moderation in profitability in the next 12 to 18 months due to higher funding costs, rating agency Moody’s said in a report on Tuesday. In November, India’s central bank asked banks to set aside additional capital against loans to NBFCs, making borrowing from banks …
BENGALURU (Reuters) – Cipla’s promoter group is looking to sell a 2.53% stake in India’s third-largest drugmaker via a block deal worth 26.37 billion rupees (nearly $316 million), CNBC-TV18 reported on Tuesday, citing sources. The promoter group will sell its stake in Cipla at a per-share price range of 1,289.5 rupees to 1,357.35 rupees, the …
Promoter group to sell stake worth $316 million in India’s Cipla, CNBC-TV18 reports Read More »
BENGALURU (Reuters) – India’s Dalmia Bharat Sugar and Industries reported a near 25% fall in fourth-quarter profit on Tuesday, hurt by a drop in sales in its mainstay refined sugar segment. WHY IT’S IMPORTANT India, the world’s second-largest sugar producer, has not allowed exports in the current season to keep a lid on local prices, …
India’s Dalmia Bharat Sugar fourth-quarter profit falls on weak sales Read More »
BENGALURU (Reuters) – Colgate Palmolive (India) reported a 20% rise in fourth-quarter profit on Tuesday, helped by price hikes and higher demand for its personal care products, mainly toothpastes. Net profit rose to 3.80 billion rupees ($45.5 million) for the January-March period, from 3.16 billion rupees a year earlier. Consumer product makers like Colgate Palmolive …
Colgate-Palmolive’s India unit posts Q4 profit rise on price hikes, healthy demand Read More »
BENGALURU (Reuters) – India’s Patanjali Foods reported a 22% fall in fourth-quarter profit on Tuesday, as sluggish demand dragged overall sales down in its mainstay edible oils business amid a surge in expenses. The Ruchi Gold oil maker’s profit fell to 2.06 billion rupees (around $25 million) for the quarter ended March 31, from 2.64 …
India’s Patanjali Foods Q4 profit falls on higher expenses, lower edible oils sales Read More »
By Hritam Mukherjee and Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Tuesday, led by metal and auto stocks, while volatility eased after a recent rise ahead of key U.S. inflation data. The blue-chip NSE Nifty 50 rose 0.51% to 22,217.85, while the S&P BSE Sensex settled 0.45% higher at 73,104.61. Eleven of the 13 …
Metals, auto power rise in Indian shares; volatility eases after recent spike Read More »
BENGALURU (Reuters) – India’s largest multiplex operator PVR Inox reported a bigger-than-expected fourth-quarter loss on Tuesday, hurt by a lack of interest in Bollywood releases. The company reported a consolidated net loss of 1.3 billion rupees ($15.6 million) for the March quarter, missing analysts’ estimate of a loss of 835.9 million rupees, as per LSEG …
India’s PVR Inox posts wider-than-expected Q4 loss on weak demand Read More »
BENGALURU (Reuters) – KFC India operator Devyani International reported on Tuesday an 89% slump in fourth-quarter profit before a one-time expense, as inflation-weary consumers cut back on dining out and ordering in despite discounted prices amid surging costs. Its consolidated profit before exceptional items and tax fell to 43.9 million rupees ($525,836.7) for the quarter …
KFC India operator Devyani Q4 adjusted profit slips on stubby demand, high costs Read More »
(Reuters) – From fried Indian snacks to local sweet delicacies, family-run Indian snack maker Haldiram’s has long been one of the country’s most popular food brands. Now, foreign investors like Blackstone and Abu Dhabi Investment Authority want a big bite of it. Haldiram’s was last year also an acquisition target for India’s Tata Group, one …
Factbox-Haldiram’s: the Indian snack maker eyed by foreign investors Read More »
