By Anushree Ashish Mukherjee (Reuters) – Gold firmed on Tuesday after a pullback in the U.S. dollar and Treasury yields, while traders positioned for remarks from several Federal Reserve officials this week to gauge the likely pace of interest rate cuts this year. Spot gold rose 0.6% to $2,035.89 per ounce, as of 01:45 p.m. …
Gold firms on cooler dollar as traders set for Fed speakers Read More »
BENGALURU (Reuters) – India’s FSN E-Commerce Ventures, parent of online beauty products seller Nykaa, reported a nearly two-fold jump in quarterly profit on Tuesday on festive demand and said that its board approved the demerger of its business-to-business (B2B) segment. The company’s consolidated net profit rose 97% to 161.9 million rupees ($1.95 million) in the …
Indian beauty products retailer Nykaa nearly doubles Q3 profit on festive demand Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -Jindal Power, a unit of India’s Jindal Steel & Power Ltd, has submitted a 140 billion rupees ($1.69 billion) bid for a coal-based power plant in the eastern region, two sources familiar with the development told Reuters. The company has submitted a financial bid for the KSK Mahanadi …
(Reuters) – Russia has begun buying bananas from India and will boost such imports, its food safety watchdog said on Tuesday, after a spat with its biggest supplier Ecuador over the latter’s decision to swap Russian-made military hardware with the United States. The first batch of bananas from India was shipped to Russia in January …
Russia buys bananas from India after Ecuador military hardware spat Read More »
CHENNAI/BENGALURU (Reuters) -Indian biscuit maker Britannia Industries reported a nearly 2% fall in third-quarter profit on Tuesday, hurt by subdued rural demand and elevated competition from smaller packaged food makers. Britannia, which sells Jim Jam and NutriChoice biscuits, reported consolidated profit before exceptional items and tax of 7.61 billion rupees ($91.7 million) for the third …
India’s Britannia posts Q3 profit fall on soft rural demand, competition Read More »
By Siddhi Nayak MUMBAI (Reuters) -Paytm’s chief executive met the Indian finance minister on Tuesday, according to two sources who were aware of the development, days after the banking regulator ordered its payment bank to halt business, leading to a share price rout. Earlier in the day, Reuters had reported that CEO Vijay Shekhar Sharma …
India’s Paytm CEO meets RBI, finance minister amid regulatory concerns – sources Read More »
By Shivangi Acharya and Nikunj Ohri NEW DELHI (Reuters) – India will monitor flows of foreign funds after its inclusion into JPMorgan’s emerging market debt index and will take steps to avoid ‘hot money’ that can trigger volatility in its currency and bond markets, a senior government official said. “We will keep monitoring it. And …
India to remain on alert for ‘hot money’ after bond index inclusion – official Read More »
BENGALURU (Reuters) – Akzo Nobel India, which houses the Dulux paint brand, reported a higher third-quarter profit on Tuesday, aided by strong demand for decorative paints. The company’s consolidated net profit rose almost 17% year-on-year to 1.14 billion rupees ($13.7 million) in the quarter. For further earnings highlights, click KEY CONTEXT Indian paintmakers have benefited …
Dulux paint-maker Akzo Nobel India’s Q3 profit climbs on strong demand Read More »
BENGALURU (Reuters) – Indian home appliances maker TTK Prestige reported a higher third-quarter profit on Tuesday, driven by strong demand for its cookware essentials. Consolidated net profit rose 8.5% to 624.8 million rupees ($7.5 million) during the October-December period, snapping five straight quarters of declining profit. Revenue from operations climbed 6.3% to 7.38 billion rupees. …
India’s TTK Prestige posts higher profit on strong demand for cookware Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – Foreign portfolio investors (FPI) sold a record amount of Indian financials in January – the sector in which they have the largest holdings – after the country’s largest lender HDFC Bank posted disappointing earnings, according to National Securities Depository data. The monthly selling in financials, worth about 300 billion …
Record sales in Indian financial stocks snap FPI buying streak in January Read More »
