Reuters India Business

BENGALURU (Reuters) – Varun Beverages reported its first-quarter earnings above market expectations on Monday, as the Pepsi India bottler benefited from an uptick in demand for soft drinks due to an early onset of summer. Gurugram-based Varun Beverages’ consolidated net profit rose to 5.37 billion rupees ($64.3 million) for the quarter ended March 31, from …

Pepsi India bottler Varun Beverages beats quarterly profit view on strong demand Read More »

MUMBAI (Reuters) – Asset quality of Indian banks’ consumer loans has held up well so far, but an accumulation of “untested risks” due to rapid growth may challenge lenders’ underwriting standards and risk controls, Fitch Ratings said on Monday. “Fitch’s assessment of Indian banks’ risk profiles also factors in lower transparency in terms of data …

Indian banks’ underwriting standards at risk amid rapid consumer loan growth, Fitch says Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was marginally weaker on Monday, dragged by the decline in Asian peers and a further drop in domestic equity indexes on worries over the outcome of the general election. The rupee was at 83.52 to the U.S. dollar at 11:06 a.m. IST, down from 83.50 in …

Rupee dips on weak Asia, more equity losses Read More »

By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares declined on Monday while volatility climbed with key equity benchmarks giving up most gains made this year on concerns over the outcome of ongoing national elections and sustained selling by foreign investors. The blue-chip NSE Nifty 50 was down 1.03% at 21,828.7 points, while S&P …

Election worries, foreign selling spook Indian equities; volatility climbs Read More »

By Jaspreet Kalra MUMBAI (Reuters) – Binance, the world’s largest cryptocurrency exchange, has registered with India’s Financial Intelligence Unit (FIU), a senior FIU official said on Friday, as the exchange seeks to resume operations in the country. The exchange was barred from operating in India in December for non-compliance with local regulations as part of …

Binance registers with India’s financial watchdog as it seeks to resume operations Read More »

By Nandan Mandayam and Meenakshi Maidas BENGALURU (Reuters) -India’s Tata Motors expects local demand for passenger vehicles (PVs) to weaken in the first half of fiscal year 2025, with its finance chief flagging elections in the country as a dampener. Tata Motors, India’s third-largest carmaker by sales, is known for its ‘Nexon’ and ‘Punch’ sport …

India’s elections to hurt car sales in first half of FY25, Tata Motors says Read More »

By Rajendra Jadhav and Ashitha Shivaprasad (Reuters) – Demand for physical gold was much lower than usual during a key festival in India, the world’s second-biggest consumer, as near-record high prices deterred retail buyers and forced dealers to offer steep discounts. Akshaya Tritiya, the second-biggest gold-buying festival after Dhanteras, was celebrated on Friday. “Many consumers …

Sky high prices take shine off Indian gold buying festival Read More »

By Nikunj Ohri NEW DELHI (Reuters) -India’s industrial output in March rose a weaker than expected 4.9% year-on-year amid slower growth in mining activity, government data showed on Friday. Economists polled by Reuters had expected industrial output to rise 5.1%. Industrial output rose 1.9% in the same month a year ago. Industrial output growth for …

India’s industrial output up 4.9% y/y in March Read More »