BENGALURU (Reuters) – Shares of Bajaj Finance fell the most in 16 months on Friday after the Indian non-bank lender forecast slower asset rise and weaker margins, leading to concerns over profit growth. Bajaj Finance on Thursday forecast its assets under management to grow between 26%-28% in the fiscal year that started April 1, compared …
India’s Bajaj Finance falls on profit growth concerns Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was largely flat on Friday, tracking rangebound Asian peers with traders expecting the local unit to stick to its prevailing range ahead of closely watched U.S. inflation data. The rupee was at 83.33 against the U.S. dollar as of 10:00 a.m. IST, barely changed from its …
Rupee lingers in narrow band tracking mostly subdued Asian peers Read More »
By Sarita Chaganti Singh, Nikunj Ohri and Jaspreet Kalra NEW DELHI (Reuters) – India’s central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters. The plans come as internal government …
India plans curbs on suspect bank accounts to fight cyber fraud, sources say Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices firmed on a weaker dollar on Thursday, even as U.S. Treasury yields rose after economic data showed signs of persistent inflation, lowering hopes of the Federal Reserve cutting interest rates anytime soon. Spot gold rose 0.8% to $2,333.79 per ounce by 2:07 p.m. ET (1807 GMT). Prices were …
Gold gains despite higher US Treasury yields, weaker dollar lends support Read More »
By M. Sriram MUMBAI (Reuters) -Indian retailer FirstCry is set to withdraw its papers for an up to $500 million IPO as early as next week, after India’s markets regulator raised questions over key metrics it disclosed to investors, said three sources with direct knowledge of the issue. FirstCry, backed by SoftBank, TPG and India’s …
India’s FirstCry set to withdraw $500 million IPO papers after regulatory scrutiny Read More »
By Siddhi Nayak and Jaspreet Kalra MUMBAI (Reuters) -Kotak Mahindra Bank’s shares fell by nearly 11% on Thursday, a day after India’s central bank barred the lender that relies heavily on online banking from taking on new digital clients and issuing credit cards. The Reserve Bank of India acted after the tech systems at Kotak, …
Indian bank Kotak Mahindra’s shares dive after new digital client ban Read More »
Bengaluru (Reuters) – Tech Mahindra, India’s fifth-largest software company, reported fourth-quarter revenue below analysts’ estimates on Thursday and unveiled a three-year turnaround plan. Consolidated revenue fell 6.2% year-on-year to 128.71 billion rupees ($1.55 billion) in the January-March quarter. Analysts, on average, expected revenue of 129.55 billion rupees, as per LSEG data. The communications and media …
India’s Tech Mahindra misses Q4 revenue estimates, unveils three-year turnaround plan Read More »
By Nishit Navin and Jaspreet Kalra BENGALURU (Reuters) -Indian non-banking lender Bajaj Finance said on Thursday it has asked the country’s central bank to lift the restrictions on two of its lending products, and added that it has made required regulatory changes. In November, the Reserve Bank of India banned the firm from issuing loans …
India’s Bajaj Finance asks central bank for lending products ban removal Read More »
BENGALURU/CHENNAI (Reuters) – Nestle India reported a bigger-than-expected increase in its quarterly profit on Thursday, as it benefited from higher product prices and demand for its packaged food items including Maggi instant noodles and KitKat chocolates. Consumer goods makers have seen steady demand for certain food items such as chocolates and biscuits, especially in urban …
Nestle India profit beats estimates on strong demand; forms JV with Dr. Reddy’s Read More »
BENGALURU (Reuters) – Indian food and grocery delivery startup Swiggy has received approval from its shareholders for a $1.25 billion initial public offering, as per regulatory filings with India’s ministry of corporate affairs. The company said it plans to raise up to 37.50 billion rupees ($450.01 million) through a fresh issue of shares, while some …
