By Swati Bhat MUMBAI (Reuters) – India’s key policy rates will likely be held steady on Thursday for a sixth straight meeting but investors are keenly watching to see if moderating core inflation and a fiscally prudent budget allows policymakers to signal a turn in the cycle. All but one of the 60 economists in …
India cenbank to hold rates for a sixth straight meet; statement in focus Read More »
CHENNAI (Reuters) – Sales volume growth in the Indian consumer goods sector in the October-December quarter slowed sequentially amid soft sales at mom-and-pop stores, market researcher NielsenIQ said on Tuesday, even as rural regions bridged the gap with thriving urban areas. Consumer goods makers, over the last few quarters, grappled with subdued sales in the …
Indian consumer goods sector slows; rural shows recovery signs – NielsenIQ Read More »
QUITOL, India (Reuters) -India’s largest power producer NTPC Ltd expects its green energy arm to go public in the fiscal year ending in March 2025, a senior company executive said on Tuesday. The state utility also plans to add 4 to 5 gigawatts (GW) of renewable power and 3 GW of coal-fired power capacity during …
India’s NTPC plans to take green energy arm public in FY 2024/25 – exec Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold dropped to more than a one-week low on Monday, weighed down by a higher dollar and bond yields after a solid U.S. jobs report and remarks from Federal Reserve officials dashed expectations of early interest rate cuts. Spot gold was down 0.6% at $2,027.09 per ounce by 2:09 …
Gold hits more than one-week low as dollar strengthens, yields rise Read More »
By Nikunj Ohri, Sarita Chaganti Singh and Shivangi Acharya NEW DELHI (Reuters) -India’s financial crime-fighting agency is investigating if platforms run by One 97 Communications, also known as Paytm, were involved in violations of foreign exchange rules, two senior government sources said. The sources did not indicate what specific provisions of the Foreign Exchange Management …
BENGALURU (Reuters) – India’s Bajaj Electricals reported its third consecutive drop in quarterly profit on Monday, as high inflation dampened festive spending and rural demand remained subdued. Consolidated net profit slumped nearly 40% to 373.6 million rupees ($4.5 million) for the three months ended Dec. 31, following declines of 56% and 14% in the previous …
India’s Bajaj Electricals posts Q3 profit drop on shrinking consumer spends Read More »
By Siddhi Nayak MUMBAI (Reuters) – India’s probe into digital payments firm Paytm has widened with the country’s federal anti-fraud agency investigating violations of foreign exchange laws, sources said, days after the central bank asked the platform’s banking unit to halt business. Shares in Paytm, listed on exchanges as One 97 Communications slumped by their …
India’s probe of Paytm widens; $2.5 billion wiped off shares in three sessions Read More »
BENGALURU (Reuters) – Indian truck maker Ashok Leyland Ltd beat third-quarter profit estimates on Monday, helped by reduced costs and increased demand for its trucks and buses. Standalone profit rose 60.5% from the previous year to 5.8 billion rupees ($69.9 million) for the three months ended Dec. 31, surpassing analysts’ estimate of 5.51 billion rupees, …
India’s Ashok Leyland beats Q3 profit view on lower costs, higher demand Read More »
BENGALURU (Reuters) – U.S. asset manager Vanguard has cut Indian ride-hailing company Ola Cabs’ valuation by 30% to under $2 billion in at least its third-straight mark down, a regulatory filing showed, as the start-up is locked in a battle for market share with Uber. Vanguard now values ANI Technologies, Ola Cabs’ parent company, at …
Vanguard cuts valuation of India’s Ola Cabs by about 30% to under $2 billion Read More »
By Rama Venkat BENGALURU (Reuters) -India’s Bharti Airtel reported third-quarter profit below estimates on Monday, as flat tariffs and higher expenses outweighed a growth in subscribers. The telecom operator reported a consolidated net profit of 24.42 billion rupees ($294 million) for the quarter ended Dec. 31, compared to analysts’ estimate of 28.69 billion rupees as …
India’s Bharti Airtel misses Q3 profit view as costs outweigh subscriber growth Read More »
