Reuters India Business

By Siddhi Nayak MUMBAI (Reuters) – Lenders to India’s Go First are looking to seek an extension of the insolvency process by another 60 days amid interest from potential suitors, two banking sources said. Under the country’s Insolvency and Bankruptcy Code, the National Company Law Tribunal (NCLT) has the authority to extend the resolution timeframe …

India Go First’s lenders to seek extension of insolvency process by 60 days – sources Read More »

(Reuters) – Paytm said on Thursday it expects a worst case impact of 3 billion rupees ($36.13 million) to 5 billion rupees to its annual earnings from Reserve Bank of India’s order barring its unit, Paytm Payments Bank, from accepting fresh deposits from March. ($1 = 83.0350 Indian rupees) (Reporting by Kanjyik Ghosh; Editing by …

Paytm expects up to $60 million hit from RBI action on its payments bank Read More »

BENGALURU/HYDERABAD (Reuters) -India’s largest drugmaker Sun Pharmaceutical Industries reported third-quarter profit above estimates on Wednesday, driven by strong sales in the key domestic and U.S. markets. The company reported a consolidated profit after tax of 25.24 billion rupees ($304 million) for the quarter ended Dec. 31, beating analysts’ estimate of 24.17 billion rupees as per …

India’s Sun Pharma beats Q3 profit view on strong domestic, US sales Read More »

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi is expected to be fiscally prudent in his interim budget before elections. The interim budget will be replaced by a new one after the government is formed after elections due in April-May. EYE ON DEBT LEVEL * The budget is expected to buck a trend of …

India’s pre-election budget: What to expect on Thursday Read More »

BENGALURU (Reuters) – India’s Ambuja Cements reported a lower-than-expected profit for the third quarter on Wednesday, as price hikes failed to outweigh lower volumes, sending its shares down 3.6%. The Adani Group-owned cement maker’s profit after tax rose 39% to 5.14 billion rupees ($61.9 million) in the three months ended Dec. 31, falling short of …

Adani Group’s Ambuja Cements profit misses estimates on lower volumes Read More »

BENGALURU (Reuters) -Maruti Suzuki India, the country’s top carmaker by sales, reported a bigger-than-expected jump in third-quarter profit on Wednesday, buoyed by strong demand for its sport utility vehicles (SUVs). The company’s profit after tax for the three months to Dec. 31 rose 33% to 31.3 billion rupees ($377 million). Analysts, on average, expected a …

India’s Maruti Suzuki beats Q3 profit view on strong SUV sales Read More »

BENGALURU (Reuters) -Shares of Larsen and Toubro tumbled as much as 7% on Wednesday, in their steepest drop in nearly four years, as India’s largest infrastructure company struggled to improve its profit margins. L&T’s core margins in infrastructure projects, its biggest business, contracted to 5.5% in the third quarter, from 7.7% a year earlier, which …

India’s L&T slides most in four years on elusive margin growth Read More »