Reuters India Business

BENGALURU (Reuters) – India’s Britannia Industries reported second-quarter revenue that fell short of analysts’ expectations on Wednesday, as the biscuit maker cut prices of some of its key products to stave off competition. Britannia, which also sells cakes and breads, said its revenue from operations was up 1.2% at 44.33 billion rupees ($532.6 million), but …

Indian biscuit maker Britannia misses Q2 revenue view on price cuts Read More »

BENGALURU (Reuters) – Indian steelmaker Tata Steel reported a loss for the second quarter on Wednesday, hurt by charges related to restructuring at its UK operations and lower sales and price realisations. The company’s consolidated net loss came in at 65.11 billion Indian rupees ($782.24 million) for the three months ended Sept. 30, compared to …

India’s Tata Steel reports Q2 loss on UK restructuring charges Read More »

BENGALURU (Reuters) – India’s financial crime agency has seized properties worth 5.38 billion rupees (nearly $65 million) as part of its probe into money laundering allegations against the now-defunct Jet Airways and founder Naresh Goyal, the agency said on Wednesday. The Enforcement Directorate (ED) said it has seized 17 residential and commercial properties in London, …

Indian authorities seize $65 million of property in Jet Airways fraud case Read More »

NEW DELHI (Reuters) – Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, India’s oil minister said on Wednesday, days after the U.S. temporarily lifted sanctions on OPEC member Venezuela’s oil sector. India, the world’s third biggest oil importer and consumer, ships over 80% of its …

India may buy Venezuelan oil if it’s cheap, minister says Read More »

By Rajendra Jadhav SITAPUR, India (Reuters) – For the first time in eight years, India’s rice output is expected to drop this year, raising the prospect that Prime Minister Narendra Modi’s government will extend curbs on exports of the grain to keep a lid on food prices ahead of elections. Production in India, the world’s …

Analysis: India’s smaller rice crop paves way for prolonged export curbs Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee, already under pressure from high U.S. Treasury yields and volatile oil prices, is now having to contend with a drop in forward premiums, owing to worries over dollar liquidity. The rupee is quoting at 83.2825 to the U.S. dollar, having avoided succumbing to its lifetime low …

Fall in forward premiums adds to Indian rupee’s challenges Read More »

BENGALURU (Reuters) – India’s Adani Wilmar swung to a loss for a second consecutive quarter on Wednesday, as lower edible oil prices continued to offset steady demand, pulling down the value of its sales. The fast-moving consumer goods maker reported a consolidated net loss for the second-quarter ended Sept. 30 of 1.31 billion rupees ($15.73 …

India’s Adani Wilmar posts second straight quarterly loss on muted oil prices Read More »