NEW DELHI (Reuters) -India does not see any nasty upside to inflation at the moment, and expects its economy to expand by more than 7% in the current fiscal year, V. Anantha Nageswaran, the government’s chief economic adviser, said on Wednesday. Annual retail inflation rate eased in March to a five-month low of 4.85%, helped …
India sees no ‘nasty’ upside to inflation, govt adviser says Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was under pressure on Wednesday on portfolio outflows and dollar payments by oil companies, but remained largely supported near an important level. The rupee was at 83.50 to the U.S. dollar at 10:54 a.m. IST, barely changed from the previous session. “It’s just that we have …
Oil companies, portfolio outflows keep rupee under pressure Read More »
By Rahul Paswan (Reuters) – Gold prices fell on Tuesday following gains in the previous session, as traders remained focused on the prospects for interest rate cuts from the U.S. Federal Reserve. Spot gold fell 0.3% to $2,315.68 per ounce by 1:52 p.m. ET (1752 GMT). U.S. gold futures settled 0.3% lower at $2,324.2 per …
By Ira Dugal and Siddhi Nayak MUMBAI (Reuters) – Indian lenders will appeal against a central bank proposal to tighten rules for infrastructure project loans, according to a banker and a source familiar with the matter. The Indian Banks Association (IBA) is gathering inputs and will write to the central bank, opposing the imposition of …
Indian lenders to appeal cenbank’s tough project finance proposal, sources say Read More »
BENGALURU (Reuters) – India’s United Breweries reported an over eight-fold rise in fourth-quarter profit on Tuesday, helped by price hikes and higher sales of its premium beers. The beer maker named Jorn Kersten, currently the finance director in Heineken, Ethiopia, as its new chief financial officer, effective August 1, 2024. WHY IT’S IMPORTANT India’s alcohol …
India’s United Breweries’ quarterly profit surges on higher beer sales, names new CFO Read More »
By Kashish Tandon and Rishika Sadam BENGALURU (Reuters) -India’s Dr Reddy’s Laboratories expects a healthy products pipeline in its key North American market in the fiscal year 2024-25, the generic drugmaker said on Tuesday, after it reported a fourth-quarter profit that beat expectations. Lenalidomide, the company’s generic version of Bristol-Myers Squibb’s blockbuster cancer drug Revlimid, …
India’s Dr Reddy’s expects healthy products pipeline in North America for FY25 Read More »
BENGALURU (Reuters) – India’s PB Fintech, the parent of online insurance aggregator Policybazaar, reported a profit for a second straight quarter on Tuesday, as sales rose in a seasonally-strong quarter amid easing marketing spends. The company, which also operates online credit marketplace Paisabazaar, posted a consolidated net profit of 605.9 million rupees ($7.3 million) for …
India’s Policybazaar parent reports quarterly profit on insurance boost Read More »
BENGALURU (Reuters) – Indian power producer JSW Energy reported a 29.1% year-on-year jump in fourth-quarter profit on Tuesday, helped by increased power generation capacity and rising power demand. WHY IT’S IMPORTANT Searing heatwaves and an uptick in economic activity have resulted in India’s electricity generation growing at an annual average of about 8%, following the …
India’s JSW Energy posts higher Q4 profit, approves $1.2 billion fund raise Read More »
BENGALURU (Reuters) – Indian air conditioner and refrigerator maker Voltas reported a smaller-than-expected fourth-quarter profit on Tuesday, as mounting expenses overshadowed steady demand. WHY IT’S IMPORTANT Scorching summers in the Indian subcontinent have pushed temperatures to record highs, boosting the need for home appliances such as air conditioners and coolers. However, consumer goods makers have …
Indian air conditioner maker Voltas misses Q4 profit view on surging expenses Read More »
By Hritam Mukherjee and Bharath Rajeswaran BENGALURU (Reuters) -Indian shares ended lower on Tuesday, led by losses in heavyweight financials and auto stocks, with volatility rising to a 15-month high amid the ongoing national elections. The blue-chip Nifty 50 was down 0.62% at 22,302.50 points, while the S&P BSE Sensex shed 0.52% to 73,511.85. The …
Indian shares end lower; volatility at 15-month high Read More »
