CHENNAI/BENGALURU (Reuters) -India’s Marico, which owns the Saffola and Parachute brands of packaged oils, expects revenue growth to outpace its volume growth in fiscal 2025, it said on Monday, adding that it would aggressively scale up food and personal care portfolios. The consumer goods major said it expects a gradual revenue uptick in its core …
By Hritam Mukherjee BENGALURU (Reuters) -India’s blue-chip Nifty 50 closed lower on Monday, weighed down by a slide in state-run banks on fears that newly proposed rules would likely weigh on their profits. The Nifty 50 closed 0.15% lower at 22442.70 points. However, the 30-member S&P BSE Sensex edged 0.02% higher to 73,895.54 as the drop in state-run …
State-run banks weigh on India’s blue-chip Nifty 50 index Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – Shares of Indian state-owned lenders slid 3.5% on Monday, set for their biggest one-day drop in nearly two months, after the country’s central bank proposed lenders set aside more money to cover loans for under-construction infrastructure projects. The Nifty PSU bank index’s 3.5% decline was the most among the …
India state-owned lenders slide as regulator mulls bigger provisions for project loans Read More »
BENGALURU (Reuters) – Indian clothing retailer Arvind Ltd posted a 2.1% rise in fourth-quarter profit as demand for its textiles remained steady. The company, which sells international brands like Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated net profit rose to 990.3 million rupees ($11.9 million) from 970 million rupees a year earlier. Indian …
Indian retailer Arvind’s Q4 profit rises on stable textile demand Read More »
By Peter Hobson CANBERRA (Reuters) -Australian desi chickpea prices rose sharply after India suspended tariffs on imports, opening the door to a revival of a trade once worth hundreds of millions of dollars. Higher prices and increased demand from India will encourage farmers to plant more chickpeas in the coming months, said industry body Grains …
Indian tariff suspension boosts Australian chickpeas Read More »
BENGALURU (Reuters) – Growth in India’s dominant services industry softened in April but remained sturdy on robust domestic and foreign demand, lifting business confidence to a three-month high, a survey showed on Monday. The HSBC final India Services Purchasing Managers’ Index, compiled by S&P Global, fell to 60.8 in April from 61.2 in March, confounding …
India’s April services growth strong on near-record exports, PMI shows Read More »
BENGALURU (Reuters) – Shares of Kotak Mahindra Bank rose as much as 5.5% on Monday, after the private lender’s quarterly profit beat estimates and said there will be very little financial impact of the recent regulatory crackdown by the central bank. Shares of the lender were last up 5.2% at 1,626 rupees after seeing its …
(Reuters) – Indian digital payments firm Paytm formally known as One97 Communications Ltd (OCL), said on Saturday its President and Chief Operating Officer Bhavesh Gupta will resign from the company by the end of this month. Paytm said that Gupta’s resignation was due to personal reasons and will be transitioning to an advisory role until …
India’s Paytm President Bhavesh Gupta to resign from company Read More »
BENGALURU (Reuters) – India’s Kansai Nerolac Paints reported a higher profit for the fifth straight quarter on Saturday, aided by sustained demand from decorative and industrial coatings. WHY IT’S IMPORTANT Growing activity in India’s real estate sector has stoked demand for decorative home paints and benefited companies including Kansai Nerolac. Prices of crude – which …
India’s Kansai Nerolac reports higher profit for fifth straight quarter Read More »
By Siddhi Nayak MUMBAI (Reuters) -The Reserve Bank of India’s (RBI) regulatory order on Kotak Mahindra Bank has impacted the private lender’s franchise and reputation even though its financial impact is expected to be minimal, its chief executive officer said. Last week the RBI asked Kotak to stop adding clients digitally and issuing credit cards …
India cenbank order on Kotak Mahindra Bank impacts franchise, reputation – CEO Read More »
