BENGALURU (Reuters) – Indian IT service provider Infosys said on Friday its U.S. unit, Infosys McCamish Systems, was impacted by a cyber security event, resulting in the non-availability of certain applications and systems. The company said it is working with a cyber security company to resolve the issue and that it had launched an investigation …
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BENGALURU (Reuters) – India’s Godrej Agrovet reported a near-47% jump in second-quarter profit on Friday as a pickup in rainfall in September uplifted the sale of its farm feed products. The company’s consolidated net profit rose to 1.05 billion rupees ($12.61 million) for the three months ended Sept. 30 from 717.6 million rupees a year …
India’s Godrej Agrovet posts Q2 profit jump as monsoon recovery aids demand Read More »
BENGALURU (Reuters) – Indian engineering company Thermax reported a roughly 45% jump in second-quarter profit on Friday, helped by higher demand for its industrial products and infrastructure. Consolidated net profit rose to 1.58 billion rupees ($19 million) in the three months ended Sept. 30, from 1.09 billion rupees a year ago. The Pune, Maharashtra-based company’s …
India’s Thermax posts 45% rise in Q2 profit on strong industrial demand Read More »
BENGALURU (Reuters) – India’s JK Paper on Friday reported a drop in quarterly profit for the first time in 11 months, hurt by the lower demand for its coated paper and packaging board, and higher input costs. The paper producer’s consolidated net profit after tax fell 6.8% to 3.02 billion rupees ($36.3 million) for the …
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BENGALURU (Reuters) -India’s Raymond said on Friday it would pay 6.82 billion rupees ($82 million) for a majority stake in an auto parts maker, doubling down on its shift away from its once mainstay textiles business into engineering and real estate. Raymond said it will buy a 59.25% stake in Maini Precision Products Limited (MMPL), …
India’s Raymond bolsters engineering business in $82-million deal Read More »
BENGALURU (Reuters) -Billionaire Mukesh Ambani’s Reliance is tying up with LVMH-owned Sephora to operate the beauty chain’s stores in India and help expand Sephora’s presence in the country’s fast-growing beauty and cosmetics market. India’s largest retailer Reliance, which launched its own beauty retail platform called Tira in April to take on the likes of Nykaa …
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By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee bucked the trend among its Asian peers and ended slightly lower on Friday, as continued local U.S. dollar demand in the absence of substantial inflows weighed on the unit. Likely U.S. dollar sales by the Reserve Bank of India prevented further losses in the rupee, three …
Rupee ends lower on persistent dollar demand from importers Read More »
BENGALURU (Reuters) – Indian jeweler and watch maker Titan Company on Friday beat second-quarter earnings expectations, aided by the strong demand for its gold jewelery brands and growth in online sales. Titan, a joint venture between the Tata Group and Tamilnadu Industrial Development Corp, said its profit for the second quarter ended Sept. 30 was …
India’s Tata-owned Titan beats Q2 profit view on growing jewelery demand Read More »
BENGALURU (Reuters) – Appliances maker Orient Electric on Friday reported a second-quarter profit, aided primarily by a one time gain from land sale and buoyed by steady demand for its consumer durables business. The company posted a profit after tax of 184.5 million rupees ($2.2 million), which included a one-time gain of 186.8 million rupees …
India’s Orient Electric posts Q2 profit on one-time gain, steady demand Read More »
BENGALURU (Reuters) – Indian building materials maker Prism Johnson reported a second-quarter profit on Friday, compared to a loss a year ago, helped by a one-time gain from the sale of some assets. Consolidated profit after tax was at 1.83 billion rupees ($21.98 million) in the quarter ended Sept. 30. The cement and tiles maker …
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