NEW DELHI (Reuters) – India’s Avenue Supermarts, which operates the DMart chain of retail stores, reported a 22.4% rise in fourth-quarter profit on Saturday helped by rising footfall in its stores that sell groceries and apparel below the maximum retail price. The retailer, known for discounts on everything from food to clothes, reported a consolidated …
India’s DMart posts Q4 profit rise on strong demand. Read More »
NEW DELHI (Reuters) – India has lifted restrictions on the export of onions, according to an official notification on Saturday, a day after the government announced a 40% export duty. The export ban was imposed by the world’s biggest exporter of the vegetable last December and then extended in March. The policy changes comes in …
India’s government lifts ban on onion exports, sets floor price Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator has sent notices of regulatory violations to seven companies of the Adani conglomerate, including its flagship Adani Enterprises, the group said in stock exchange filings. The regulator began probing the Adani group, led by billionaire Gautam Adani, after Hindenburg Research in January 2023 alleged improper use …
India’s markets regulator puts seven Adani companies on notice for violations Read More »
By Rahul Paswan and Harshit Verma (Reuters) – Gold fell to a one-month low on Friday despite weaker-than-expected U.S. jobs data, extending a correction from last month’s stellar rally as investors booked profits while geopolitical risks eased. Spot gold fell 0.1% to $2,300.38 per ounce as of 1:45 p.m. ET (1745 GMT), and logged its …
Gold resumes retreat despite soft jobs report as traders book profits Read More »
(Reuters) – India will impose a 40% export duty on onions from May 4, according to a government notification on Friday. India has also exempted duty on imports of bengal gram up to March 31, 2025, the notification added. (Reporting by Nikunj Ohri and Gursimran Kaur; Editing by Philippa Fletcher)
BENGALURU (Reuters) – India will buy back 400 billion rupees ($4.80 billion) worth of securities, the country’s central bank said on Friday. The securities offered for buyback are 6.18% GS 2024, 9.15% GS 2024 and 6.89% GS 2025, the Reserve Bank of India said in a statement. “The choice of securities suggests this buyback is …
India to buy back 400 billion rupees worth of bonds, cenbank says Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s top stock exchanges are luring investors with new products and lower fees as they battle for a share of the hot but fledgling derivatives market, in turn fuelling a surge in trading activity that is drawing regulatory scrutiny. The larger National Stock Exchange of India and its …
India’s exchanges spar for dominance in hot derivatives market Read More »
BENGALURU (Reuters) – Indian real estate developer Godrej Properties reported a fall in fourth-quarter revenue on Friday, weighed by muted pricing in the key market of Mumbai. Shares of the company dipped after results, but recouped losses to trade up 0.3% as of 1:56 p.m. IST. WHY IT’S IMPORTANT Indian real estate developers have been …
India’s Godrej Properties reports Q4 revenue drop as muted pricing weighs Read More »
BENGALURU (Reuters) – India’s MRF reported a surprise drop in its fourth-quarter profit on Friday, as the tyre maker faced pressure from a spike in rubber prices. WHY IT’S IMPORTANT Ancilliary companies benefit from higher automobile sales and production, as they provide parts for the vehicles. Sales of overall vehicles in India in the fourth …
Indian tyre maker MRF posts surprise drop in profit as rubber prices jump Read More »
By Manvi Pant and Bharath Rajeswaran BENGALURU (Reuters) -India’s Nifty 50 index slipped from a record high on Friday as weakness in IT shares and a drop in heavyweight Reliance outweighed a rally in Bajaj Finance shares after restrictions on its lending products were lifted. The blue-chip Nifty 50 was down 0.12% at 22,621.7 points, …
India’s Nifty 50 slips from record high as IT stocks weigh Read More »
