Reuters India Business

BENGALURU (Reuters) – Indian thermal power producer Adani Power reported a near ten-fold surge in second-quarter profit on Thursday, as it benefited from soaring power demand and a tax gain. Shares of Adani Power, part of billionaire Gautam Adani’s eponymous conglomerate, jumped as much as 7.7% to 393.4 rupees after the results. They had climbed …

India’s Adani Power Q2 profit soars on demand surge, tax gain Read More »

FRANKFURT (Reuters) – Shares in Siemens Energy rose to the top of Frankfurt’s blue-chip index on Thursday after brokerage HSBC said a possible sale of the group’s stake in India’s Siemens Ltd could alleviate balance sheet concerns. The company’s stock was up 7% at 0857 GMT, extending its recovery after the group’s disclosure of talks …

Siemens Energy shares rise; HSBC sees ‘relief potential’ Read More »

By Praveen Paramasivam CHENNAI (Reuters) – Shares in India’s Britannia Industries climbed as much as 3.9% on Thursday, a day after reporting quarterly earnings above market expectations the biscuits maker kept a tight lid on costs amid easing commodities prices. The Little Hearts maker has been focusing more on reducing product damages during transport, ensuring …

Indian biscuit maker Britannia rises on margins surprise Read More »

BANGALORE (Reuters) – Akzo Nobel India reported a 44% rise in second-quarter profit on Thursday, helped by a drop in raw material costs. The Indian unit of Dutch paint maker Akzo Nobel NV said its consolidated net profit rose to 942 million rupees ($11.32 million) for the quarter ended Sept. 30 from 654 million rupees …

India’s Akzo Nobel Q2 profit rises on lower raw material costs Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Thursday after the U.S. Federal Reserve’s rate pause and policy commentary led to hopes of an end to further rate hikes and spurred a rally across global markets. The NSE Nifty 50 index was up 0.73% at 19,127.50 as of 10:12 a.m. IST, while the S&P …

Indian shares gain after Fed keeps rates steady Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to open marginally higher on Thursday on the back of a fall in U.S. Treasury yields after a slightly dovish stance from the Federal Reserve. Non-deliverable forwards indicate rupee will open at around 83.24 to the U.S. dollar compared with the close of 83.28 …

Rupee to inch up after “slightly dovish” Fed; US yields decline Read More »

By Aditi Shah NEW DELHI (Reuters) – Changes to Indian laws to exclude leased aircraft from assets that can be frozen during bankruptcy proceedings of an airline “would have to be considered” retrospectively, the country’s aviation regulator said in a court filing on Wednesday. The clarification of India’s recent amendment to its insolvency law potentially …

India insolvency law change on leased aircraft would have to apply retrospectively -regulator Read More »