By Manvi Pant BENGALURU (Reuters) -Indian shares surrendered early gains to end sharply lower on Tuesday, as HDFC Bank led a decline in financials, while Zee Entertainment plunged over 32% after its merger with Sony’s India unit collapsed. The blue-chip NSE Nifty 50 settled 1.54% lower at 21,238.80 points, while the S&P BSE Sensex lost …
Indian shares slump 1.5% as financials weigh; Zee plunges Read More »
BENGALURU (Reuters) – Drug maker Granules India reported a marginal rise in third-quarter profit on Tuesday, helped by easing raw material costs. The company’s consolidated profit rose 1.6% to 1.26 billion rupees (nearly $15 million), according to an exchange filing. Granules has seen slowing profit growth since the third quarter of 2022. It reported a …
Paracetamol maker Granules India posts marginal rise in Q3 profit Read More »
BENGALURU (Reuters) – Embattled Indian ed-tech startup Byju’s is looking to raise funds worth more than $100 million at a valuation that is 90% lower than its prior round, Bloomberg News reported on Tuesday citing sources. (Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)
By Rama Venkat BENGALURU (Reuters) -Shares in India’s Zee Entertainment plunged by as much as 30% on Tuesday, set for their worst day ever, after the collapse of its $10 billion merger with Sony’s local unit fanned concern that it will fail to thrive. At least six brokerages said investors should sell Zee’s stock in …
India’s Zee slides 30%, Sony deal collapse stokes worries about its prospects Read More »
NEW DELHI (Reuters) – The Indian government has increased the import duty on gold and silver findings, used in making jewellery, and on precious metal coins to 15% from 11%, effective from Jan. 22, to bring them in line with duties on gold and silver bars. In a notification issued on Monday, India’s Ministry of …
India raises import duty on gold, silver jewellery findings Read More »
BENGALURU (Reuters) -Shares of India’s ICICI Bank hit a record 1,059.4 rupees on Tuesday after its third-quarter profit beat estimates on robust loan growth and margins met expectations. The private lender rose as much as 5% in the session and was the sole stock posting gains on the Nifty Bank index, which was down 0.7%. …
India’s ICICI Bank hits record high on profit beat, margin comfort Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened on Tuesday tracking a fall in its Asian peers amid persistent moderation in bets on aggressive rate cuts by the U.S. Federal Reserve. The rupee was at 83.1225 against the U.S. dollar as of 10:00 a.m. IST, down 0.07% compared to its close at 83.0650 …
Rupee cedes ground pressured by decline in Asian peers Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices eased on Monday as investors rolled back expectations of a U.S. interest rate cut at the end of March, with a surge in equity markets further dampening interest in safe-haven bullion. Spot gold was down 0.5% at $2,020.09 per ounce at 1:49 p.m. ET (1849 GMT). U.S. …
Gold slides on trimmed US rate cut bets, rallying equities Read More »
By Krishna N. Das NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi on Monday inaugurated one of the holiest Hindu temples and his government has been spending millions of dollars to develop many others, boosting tourism and his appeal among the majority community ahead of elections. Apart from a $6 billion makeover of the …
BENGALURU/HYDERABAD (Reuters) -Indian generic drugmaker Cipla on Monday reported its third-quarter profit above analysts expectations, boosted by strong performances in North American and domestic markets. Consolidated net profit rose 32% to 10.56 billion Indian rupees ($127.1 million) in the quarter ended Dec. 31 from a year earlier, compared with average analysts’ estimate of 10.43 billion …
India’s Cipla Q3 profit tops estimates on North America sales boost Read More »
