BENGALURU (Reuters) – Indian tyre maker MRF reported a three-fold rise in third-quarter profit on Friday, helped by an uptick in two-wheeler sales. MRF, the country’s top tyre maker and the most expensive stock, said its profit from continuing operations for the three months ended Dec. 31 rose to 5.08 billion rupees (around $61 mln) …
India’s MRF Q3 profit jumps three-fold on uptick in two-wheeler sales Read More »
NEW DELHI (Reuters) – India’s state-run social security fund will halt claims made via Paytm Payments Bank accounts from Feb. 23, as the country’s central bank imposed restrictions on the payments bank due to persistent irregularities, a government order said. The Employees’ Provident Fund Organisation (EPFO) has asked its officers to refrain from accepting claims …
India’s social security fund to stop claims made via Paytm Payments Bank Read More »
By Sethuraman N R and Ashitha Shivaprasad QUITOL, India (Reuters) – India’s Oil and Natural Gas Corp is in talks to restart its operations in Libya and to increase production in Venezuela, a company executive said on Friday. “Once it gets started for Oil India, same applies to us. We are also in the same …
India’s ONGC in talks to restart Libya operations, expand in Venezuela – exec Read More »
QUITOL, India (Reuters) – IndianOil-Adani Gas Pvt Ltd will invest 25 billion rupees ($301.24 million) over four years as it looks to double gas sales to small industries and households in India, a company executive said on Friday. The company, an equal joint venture of refiner Indian Oil Corp and Adani Total Gas, daily sells …
IndianOil-Adani Gas JV to invest $300 million to double gas sales Read More »
By Jayshree P Upadhyay Mumbai (Reuters) – Several Indian asset managers said they are moving, or planning to move, some offshore fund business from financial centres such as Dubai and Singapore to a finance hub in the western state of Gujarat to gain better access to India’s capital markets. The Indian government is promoting the …
More Indian asset managers shift overseas business to GIFT City Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices edged lower on Thursday, hurt by a stronger dollar and elevated bond yields as hopes for an early interest rate cut from the U.S. Federal Reserve diminished, while palladium extended its decline on a dim long-term demand outlook. Spot gold fell 0.13% to $2,031.58 per ounce, as …
Gold inches lower on firm dollar, yields; palladium extends fall Read More »
NEW DELHI (Reuters) – India on Thursday approved the auction of telecom spectrum at a total reserve price of 963.2 billion rupees ($11.61 billion), the information minister told reporters. A total 10 GHz of radiowaves is up for sale in this year’s auction, according to a government statement, much lower than the previous year as …
India approves auction of telecom spectrum at reserve price of $11.6 billion Read More »
HYDERABAD (Reuters) – Indian biopharmaceutical company Biocon Ltd swung to a third-quarter profit on Thursday, boosted by its biosimilars business and the sale of some of its non-core units, and said Chief Financial Officer Indranil Sen had resigned. Sen, who has been with the company for nearly a decade, resigned from the role to pursue …
India’s Biocon posts profit on biosimilar boost, divestment gains; CFO resigns Read More »
BENGALURU (Reuters) – Aditya Birla Group-owned Grasim Industries reported a smaller-than-expected fall in third-quarter profit on Thursday, as strong viscose business outweighed decline in its chemicals segment. The company’s standalone net profit fell more than 8% from a year earlier to 2.36 billion rupees ($28.4 million) in the three months ended Dec. 31, but stayed …
India’s Grasim posts smaller-than-feared Q3 profit fall as viscose business recovers Read More »
BENGALURU (Reuters) – Aster DM Healthcare posted its first increase in quarterly profit since the first quarter of fiscal 2023 on the back of strong performance at the company’s domestic hospitals segment. Consolidated net profit for the third quarter rose 28.6% to 1.79 billion rupees ($21.6 million), the company said on Thursday. While Aster’s India …
India’s Aster DM posts first quarterly profit rise in five quarters Read More »
