BENGALURU (Reuters) – Shares of India’s Bajaj Finance rose as much as 7.5% on Friday, their biggest intra-day jump in nearly two years, after the Indian central bank reversed a five-month ban on some of its lending products. The non-banking lender’s stock had dropped nearly 5% since the ban was placed in November. That included …
India’s Bajaj Finance jumps most in nearly two years after lending ban lifted Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – Foreign funds registered with India’s markets regulator and with operations at GIFT City can issue so-called participatory notes, the financial services regulator at GIFT said late on Thursday. Participatory notes (P-Notes) are issued by funds and banks to overseas investors that wish to invest in stock markets without …
Foreign funds can issue participatory notes to investors, India’s GIFT regulator says Read More »
By Kavya Balaraman (Reuters) – Gold retreated on Thursday as focus returned to chances of U.S. interest rates staying higher for longer, with traders also positioning for economic data that could influence the Federal Reserve’s policy path. Spot gold fell 0.5% to $2,306.69 per ounce by 1:48 p.m. ET (1748 GMT). U.S. gold futures for …
Gold pulls back, traders hunker down for interest-rate cues Read More »
BENGALURU (Reuters) -Adani Ports and Special Economic Zone (APSEZ), India’s largest private port operator, posted a 76% rise in its fourth-quarter profit on Thursday, helped by record cargo volumes. The company, which is part of billionaire Gautam Adani’s conglomerate, said its consolidated net profit rose to 20.40 billion rupees ($244.6 million) in the quarter ended …
India’s Adani Ports Q4 profit soars 76% on record cargo volumes Read More »
BENGALURU (Reuters) -India’s Bajaj Finance said on Thursday the Reserve Bank of India had lifted restrictions on its lending products, allowing it to “resume sanction and disbursal of loans” in the banned business segments. Shares of the non-banking lender have dropped nearly 5% since the ban was ordered in November, compared with a near 11% …
India’s Bajaj Finance says cenbank lifts ban on lending products Read More »
(Reuters) – India’s Blue Dart Express reported a rise in fourth-quarter profit on Thursday, aided by strong demand for its logistics services. WHY IT’S IMPORTANT Blue Dart, barring a flat Q3, had posted a sequential drop in its profit for the past four quarters, on account of higher interest rates and increasing costs amid tough …
India’s Blue Dart Express’ Q4 profit rises 12% on improved demand Read More »
By Shivani Tanna (Reuters) -ArcelorMittal, the world’s second-largest steelmaker, on Thursday reported first-quarter earnings ahead of analyst expectations and reiterated its expectation global steel demand outside China will increase by 3-4% this year. The Luxembourg-based company said its first-quarter core profit (EBITDA) was $1.96 billion, higher than the average forecast in a company poll of …
ArcelorMittal sticks to demand growth forecast after earnings beat Read More »
BENGALURU (Reuters) – Indian tyremaker CEAT reported a lower fourth-quarter profit on Thursday, hurt by higher rubber costs. WHY IT’S IMPORTANT CEAT, whose customers include automakers Maruti Suzuki and Mahindra & Mahindra, is the first Indian tyremaker to report results this quarter. CONTEXT Domestic sales of overall vehicles in India rose more than 20% in …
Tyremaker CEAT’s fourth-quarter profit falls on higher costs Read More »
(Reuters) – Altruist said on Thursday it had raised fresh capital in a funding round that gave the custodian for registered investment advisors (RIAs) a valuation of more than $1.5 billion. It raised $169 million in a series E funding round led by investment firm ICONIQ Growth, taking its total fund raised so far to …
RIA custodian Altruist valued at over $1.5 billion in latest funding round Read More »
By Manvi Pant BENGALURU (Reuters) -Indian shares advanced on Thursday as a less hawkish stance by the U.S. Federal Reserve on rate hikes eased market concerns, while a drop in overnight crude prices helped cool domestic inflation fears. Blue-chip indexes Nifty 50 settled 0.19% higher at 22,648.2 points, while the S&P BSE Sensex appreciated 0.17% …
Indian shares log gains on less-hawkish Fed, easing oil prices Read More »
