By Anushree Ashish Mukherjee (Reuters) – Gold prices held steady on Friday as investors’ attention shifted to the U.S. Federal Reserve’s policy meeting due next week for more insights into the interest rate outlook. Spot gold was little changed at $2,016.95 per ounce by 02:15 p.m. ET (1915 GMT), down 0.6% so far this week. …
BENGALURU (Reuters) – Artificial intelligence startup Krutrim, founded by CEO of Ola Electric Bhavish Aggarwal, has raised $50 million in the first funding round at a valuation of $1 billion, the company said in a blog post on Friday. It added that venture capital fund Matrix Partners India led the funding round, without giving further …
Ola Electric CEO’s new AI venture valued at $1 billion Read More »
NEW DELHI (Reuters) -India’s Tata group and France’s Airbus have signed an agreement to manufacture civilian helicopters together, India’s Foreign Secretary Vinay Kwatra said on Friday. The agreement was signed during French President Emmanuel Macron’s ongoing state visit to India, he said. Tata and Airbus are already cooperating to make C-295 transport aircraft in Prime …
India’s Tata and France’s Airbus to manufacture helicopters together Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold edged higher on Thursday as Treasury yields fell after U.S. GDP data highlighted that pace of inflation slowed, while focus shifted to inflation data for further hints on the Federal Reserve’s interest rate cut strategy. Spot gold rose 0.2% to $2,015.56 per ounce by 1:49 p.m. ET (1849 …
Gold gains as Treasury yields drop after US GDP data Read More »
BENGALURU (Reuters) – A group of lenders said on Thursday that it had started bankruptcy proceedings against the holding company of Byju’s, as the embattled Indian ed-tech startup struggles to repay its loans. The lenders said their move to file corporate insolvency proceedings against Think and Learn was taken after 16 months of “good faith …
Lenders begin bankruptcy proceedings against India’s Byju’s Read More »
BENGALURU (Reuters) – India’s SBI Cards and Payment Services reported a smaller-than-expected third-quarter profit on Thursday, as higher finance costs outweighed a rise in consumer spending. Indian lenders have been grappling with elevated cost of funds as the country’s central bank kept lending rate steady at 6.50% since February 2023 after raising rates by 250 …
India’s SBI Card misses Q3 profit view as finance costs weigh Read More »
BENGALURU (Reuters) – Indian non-banking financial company Shriram Finance reported a smaller-than-expected 2.3% rise in profit on Thursday, hurt by a rise in finance costs and provisions for bad loans. The company reported a profit of 18.18 billion rupees ($218.8 million) in the quarter ended Dec. 31, missing analysts’ estimate of 18.63 billion rupees, according …
Shriram Finance misses Q3 profit view on higher finance costs, provisions Read More »
BENGALURU (Reuters) – Indian cement maker ACC reported a higher-than-expected third-quarter profit on Thursday, helped by price hikes and strong demand for construction materials. The Adani Group-owned company’s profit after tax surged nearly five-fold to 5.27 billion rupees ($63.4 million) in the three months ended Dec. 31, surpassing average analysts’ estimates of 4.15 billion rupees, …
Indian cement maker ACC beats Q3 profit estimates on price hikes, strong demand Read More »
By Munsif Vengattil, M. Sriram and Aditya Kalra BENGALURU/MUMBAI (Reuters) – The collapse of a planned $10 billion merger with Sony’s unit has heaped pressure on Zee Entertainment, one of India’s most popular TV networks, to pursue deals with new partners or focus on areas such as digital entertainment to revive its fortunes. A Zee-Sony …
Analysis-India’s Zee needs strategy shift to survive after Sony merger plan crumbles Read More »
By Neha Arora and Mayank Bhardwaj NEW DELHI (Reuters) – India’s Jindal Stainless Ltd has cut its exports forecast for the fiscal year ending March due to freight disruptions in the Red Sea and faltering demand in Europe and the United States, a top executive said. India’s biggest stainless steel manufacturer hopes to ship out …
India’s Jindal Stainless cuts export forecast on Red Sea crisis, weaker EU, US demand Read More »
