BENGALURU (Reuters) – Indian miner Hindustan Zinc reported its fifth consecutive decline in quarterly profit on Friday, dragged by lower zinc prices and sales. Still, the 6% profit drop is the smallest since it first reported a fall in profit in the third quarter of last year. Shares of the company rose as much as …
India’s Hindustan Zinc posts fifth straight quarterly profit fall in Q3 Read More »
BENGALURU (Reuters) – Hyundai Motor’s Indian unit on Friday said it would invest 60 billion rupees ($721.73 million) in the western state of Maharashtra, while also disclosing that it had completed the acquisition of General Motor’s plant in the state. India’s second-largest carmaker by sales did not disclose a deal value for the Talegaon plant …
Hyundai Motor’s India arm to invest $722 million in Maharashtra Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices firmed on Thursday, aided by safe-haven demand amid the Middle East conflict, while investors looked out for further clarity on the U.S. Federal Reserve’s future interest rate path. Spot gold rose 0.7% to $2,019.12 per ounce by 02:06 p.m. ET (1906 GMT) after hitting a five-week low …
Gold drifts higher as Middle East tension attracts safe-haven inflows Read More »
By Rishika Sadam and Aditi Shah HYDERABAD, India (Reuters) -Airbus expects to double the total value of parts it sources from India to $1.5 billion in coming years, the planemaker’s India chief said on Thursday, as it looks to ride the boom in the world’s fastest growing aviation market. Indian carriers IndiGo, Air India and Akasa are …
Airbus to double sourcing from India to $1.5 billion as plane orders soar Read More »
By Nidhi Verma NEW DELHI (Reuters) – The annual share of OPEC’s oil in India’s crude imports fell to its lowest level ever in 2023 while that of discounted Russian barrels surged to an all-time high, data obtained from trade and industry sources show. India, the world’s third-biggest oil importer and consumer, has long relied …
Cheap Russian oil cuts OPEC’s share of India imports to record-low 50% Read More »
NEW DELHI (Reuters) – India’s NMDC Ltd, the country’s largest state-owned iron ore miner, on Thursday said it has no plans to sell iron ore to China and it is scaling up production to meet domestic demand. Reuters reported on Wednesday that the federal government had turned down a request from the company to export …
India’s NMDC says it has no plans to export iron ore to China Read More »
By Aditi Shah HYDERABAD, India (Reuters) – Lufthansa is pulling flight capacity from other countries to meet booming travel demand in India, which is now the German airline’s fastest-growing major market, Chief Commercial Officer Heiko Reitz said on Thursday.Lufthansa’s flight capacity to India is 14% higher than pre-COVID levels, even as it has yet to …
Lufthansa pulling flight capacity from other countries to meet booming India demand Read More »
BENGALURU (Reuters) – India’s Shoppers Stop reported a third consecutive fall in quarterly profit on Thursday as consumers spent less on clothes and cosmetics amid elevated prices. Net profit fell 41% to 368.5 million rupees ($4.43 million) in the three months ended Dec. 31, the department store operator said in an exchange filing. India’s inflation …
India’s Shoppers Stop posts third straight fall in quarterly profit Read More »
BENGALURU (Reuters) – India’s Metro Brands, which sells shoes from brands including Fila, Crocs and Mochi, reported its fourth straight drop in quarterly profit on Thursday, hurt by high inventory costs amid slowing sales growth. The company’s net profit fell 12.6% to 978.1 million rupees ($11.8 million) in the October-December quarter, missing analysts’ estimate of …
Indian footwear retailer Metro Brands’ Q3 profit hit by slowing sales Read More »
By Aditi Shah and Rishika Sadam HYDERABAD (Reuters) -India’s Akasa Air said on Thursday it has ordered 150 Boeing 737 MAX narrowbody planes, showcasing its confidence in the troubled planemaker as the budget carrier seeks to fly to more destinations at home and abroad. This is the first major order announcement for Boeing’s MAX jetliner …
India’s Akasa Air says ‘confident’ about Boeing, orders 150 MAX jets Read More »
