By Rajendra Jadhav MUMBAI (Reuters) – India’s sugar consumption this year is poised to hit a record high as demand during the peak summer season gets a boost from heat waves and the mobilisation of millions for elections in the scorching temperatures. Higher consumption would lift local prices and boost margins of sugar producers such …
India’s sugar demand surges in heat wave and election season Read More »
BENGALURU/MUMBAI (Reuters) -India’s Mahindra and Mahindra Financial Services uncovered company funds were embezzled by forging some documents for retail vehicle loans at one of its branches, the company said on Tuesday, sending its shares sliding as much as 8%. The company, the non-bank financing arm of tractor-to-tech conglomerate Mahindra Group, said it discovered the fraud …
India’s M&M Financial discovers fraud at one branch, delays Q4 results to May 30 Read More »
By Anant Chandak BENGALURU (Reuters) – India’s business activity expanded at its fastest pace in nearly 14 years this month thanks to robust demand, according to a survey released on Tuesday that also showed easing input inflation and positive jobs growth. That suggests India is well placed to remain the fastest growing major economy this …
India’s April business growth at near 14-year high, PMIs show Read More »
MUMBAI (Reuters) – The Indian rupee was largely unchanged on Tuesday, tracking the rangebound movement in its Asian peers and largely steady U.S. bond yields as traders await fresh cues from economic data due later in the week. The rupee was at 83.3275 against the U.S. dollar as of 10:10 a.m. IST, mildly higher than …
Rupee little changed, tracking mostly rangebound Asian peers Read More »
BENGALURU (Reuters) -India’s food safety regulator will conduct quality checks on products of popular Indian spice brands MDH and Everest Group after Hong Kong banned the sale of some products for allegedly containing a cancer-causing pesticide, a senior Indian official said on Monday. The official, who spoke on condition of anonymity, said the inspections would test for the …
India to test MDH, Everest spices for cancer-causing pesticide, source says Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices dropped more than 2% to a one-week low on Monday as worries over a wider Middle East conflict subsided, prompting investors to scale back safe-haven trades in favour of riskier assets like equities. Spot gold was down 2.5% at $2,330.51 per ounce as of 1:52 p.m. ET (1752 …
Gold drops more than 2% to one-week low as Middle East worries ebb Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s markets regulator found a dozen offshore funds invested in Adani group companies were in violation of disclosure rules and in breach of investment limits, two people with direct knowledge of the matter said on Monday. They declined to be named as they not authorised to speak to …
By Jayshree P Upadhyay MUMBAI (Reuters) – BSE Ltd, India’s oldest stock exchange, said it was filing a police complaint against unknown persons behind a “deepfake” video that purportedly shows its chief executive doling out stock tips. “We have gone to the regulator (SEBI) and are filing a police complaint against such manipulated videos,” BSE …
Will file police complaint to stop spread of CEO deepfakes, BSE says Read More »
BENGALURU (Reuters) – India’s Reliance Industries reported fourth-quarter profit above analysts’ estimates on Monday, boosted by strength in its mainstay oil to chemicals (O2C) segment. The billionaire Mukesh Ambani-led company said its consolidated profit fell about 2% to 189.51 billion Indian rupees ($2.27 billion) in the January-March quarter, but edged past analysts’ average estimate of …
Reliance Industries beats Q4 profit estimates on boost from energy unit Read More »
By Siddhi Nayak MUMBAI (Reuters) – India’s largest private lender HDFC Bank has surprised on deposit mobilisation and margin expansion despite a lower than expected fourth-quarter profit, analysts said. The private lender reported a sequential rise in profit but missed analysts’ estimates as it set aside more funds for potential bad loans. The results have …
India’s HDFC Bank surprises on margin trajectory, garnering deposits, analysts say Read More »
