By Anushree Ashish Mukherjee (Reuters) – Gold firmed nearer a one-month high on Thursday after data showed U.S. weekly jobless claims rose last week, while market focus shifted to the U.S. non-farm payrolls data for more cues on the Federal Reserve’s policy path. Spot gold was up 0.9% at $2,054.89 per ounce by 02:51 p.m. …
Gold climbs nearer one-month peak, focus on NFP data Read More »
BENGALURU (Reuters) – Engine oil maker Castrol India reported a 25% rise in fourth-quarter profit on Thursday, aided by higher demand for its automobile lubrication products. The company, which derives about three-fourths of its volumes from passenger and commercial vehicles, benefitted from sustained growth in auto sales and maintenance demand in the world’s third-largest car …
Engine oil maker Castrol India’s Q4 profit rises on healthy demand Read More »
By Munsif Vengattil and Aditya Kalra BENGALURU/NEW DELHI (Reuters) – Tata Group is in advanced talks with Taiwan’s Pegatron to form a partnership to run an iPhone assembly plant the Indian company is building in the southern state of Tamil Nadu, two sources with direct knowledge of the matter said on Thursday. Tata is building …
Tata, Pegatron in partnership talks for iPhone assembly in India’s Tamil Nadu – sources Read More »
By Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi’s government resisted the temptation of spending trillions of rupees on schemes for the poor in its last budget before an election and instead stuck to the path of fiscal consolidation to attract investors. The lack of social spending largesse is indicative …
India refrains from populist budget before election, trims fiscal deficit Read More »
By Chris Thomas, Ira Dugal and Siddhi Nayak BENGALURU/MUMBAI (Reuters) -Indian digital payments firm Paytm lost a fifth of its market value on Thursday after the central bank ordered its payment bank to halt its business, threatening the company’s path to profitability and the app it relies on. The Reserve Bank of India (RBI) on …
India’s Paytm plunges 20% after RBI halts payments bank business Read More »
(Reuters) – India will reduce its budget gap sharply in 2024-25 and focus on infrastructure and long-term reforms to drive growth, Finance Minister Nirmala Sitharaman said on Thursday as the government presented its last budget before a national election due by May. The government said it would reduce its fiscal deficit to 5.1% of GDP …
Instant view: India’s finance minister unveils budget, promises reforms to drive growth Read More »
BENGALURU (Reuters) -India’s Adani Enterprises reported a more than two-fold jump in third-quarter profit on Thursday, helped by strong performance in its coal trading and new energy divisions. The company reported a consolidated profit of 18.88 billion rupees ($227.5 million) for the quarter ended Dec. 31, compared to 8.2 billion rupees a year earlier. Earnings …
Adani Enterprises Q3 profit more than doubles on coal, new energy boost Read More »
BENGALURU (Reuters) – Dr. Lal PathLabs, India’s biggest diagnostics firm by revenue, posted a higher profit for the third straight quarter on Thursday, due to more diagnostics and tests in the monsoon and winter seasons as well as an increase in COVID cases. The company’s consolidated net profit jumped 54% year-over-year to 813 million rupees …
India’s Dr. Lal PathLabs posts 54% jump in Q3 profit on flu, COVID tests Read More »
By Aditi Shah and Nandan Mandayam NEW DELHI (Reuters) -German automaker Volkswagen Group is looking to introduce an entry-level electric vehicle (EV) in India by the second-half of this decade, the CEO of its local unit said at an event on Thursday. “We are actively working on an entry-level EV. It needs large investment. To …
VW Group working on entry-level EV for India – executive Read More »
By Manoj Kumar NEW DELHI (Reuters) – India’s Finance Minister Nirmala Sitharaman on Thursday unveiled plans to spend nearly $134 billion on infrastructure and focus on long-term reforms to drive growth and contain the fiscal gap despite pressures to raise spending before elections. She said the next generation of reforms will be carried out in …
India plans to spend $134 billion on infrastructure, narrow fiscal gap – interim budget Read More »
