By Bharath Rajeswaran BENGALURU (Reuters) -India’s blue-chips fell for the sixth session in a row on Thursday, as the selling pressure intensified due to elevated U.S. Treasury yields and concerns over the Middle East conflict. The NSE Nifty 50 index settled 1.39% lower at 18,857.25, its first close below the 19,000 mark since June 28. …
India’s blue-chips extend decline to near four-month lows Read More »
BENGALURU (Reuters) – India’s Asian Paints on Thursday reported a smaller-than-expected jump in second-quarter profit, hurt by muted demand due to a patchy monsoon and late festive season, sending its shares down nearly 2%. The country’s top paint maker said its domestic decorative paints business, which accounts for more than 80% of the revenue, was …
India’s Asian Paints misses Q2 profit view on delayed festive season hit Read More »
BENGALURU (Reuters) – India’s ACC on Thursday reported a bigger-than-expected second-quarter profit aided by sturdy domestic demand, and forecast strong growth for the cement industry. The cement maker’s profit after tax stood at 3.84 billion rupees ($46.16 million), compared to a loss of 910.9 million rupees a year ago. Analysts polled by LSEG expected a …
India’s ACC beats Q2 profit view on strong domestic demand Read More »
CHENNAI (Reuters) -Westlife Foodworld, which operates McDonald’s restaurants in west and south India, reported a surprise drop in quarterly earnings on Thursday as increased costs overshadowed higher sales of its burgers and fried chicken. The franchisee said consolidated net profit after tax fell to 223.7 million rupees ($2.7 million) in the July-September quarter from 315.4 …
McDonald’s India franchisee Westlife posts surprise profit drop on higher costs Read More »
By Nidhi Verma BENGALURU (Reuters) – India’s Oil and Natural Gas Corp hopes to recover over $500 million in dividends pending since 2014 for its stake in Venezuelan projects as sanctions on the nation were eased, a source said on Thursday. The source declined to be named due to sensitivity of the matter. The Biden …
India’s ONGC hopes to recover over $500 million dividend as sanctions on Venezuela eased Read More »
By Rama Venkat BENGALURU (Reuters) – Shares of IRM Energy fell as much as 10.9% in trading debut on Thursday, valuing the Indian natural gas distributor at 18.48 billion rupees ($222.03 million) in a weak market. The stock fell to a low of 450 rupees in early trade after opening at 477.25 rupees. Its initial …
India’s IRM Energy slides 11% in debut trade at over $200 million valuation Read More »
By Hadeel Al Sayegh RIYADH (Reuters) – Indian conglomerate Essar Group plans to make Saudi Arabia a hub to drive its expansion locally and regionally, its chief executive Prashant Ruia said on Wednesday. The group, built by brothers Shashi and Ravi Ruia, is setting up a 4 million metric tonnes per year steel plant along …
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By Kashish Tandon (Reuters) -India’s accounting regulator is investigating an EY member firm that audits five companies that are part of billionaire Gautam Adani’s eponymous conglomerate, a source familiar with the matter said on Wednesday. The National Financial Reporting Authority (NFRA) started an inquiry into S.R. Batliboi a few weeks ago, the source said, declining …
Indian regulator probes Adani auditor EY – source Read More »
By Ashitha Shivaprasad (Reuters) – Safe-haven gold gained on Wednesday, buoyed by continued conflict in the Middle East, while investors looked forward to key U.S. economic data for further cues on the Federal Reserve’s policy path. Spot gold was up 0.7% at $1,983.89 per ounce by 9:51 a.m. ET (1351 GMT), having declined in the …
Safe-haven gold gains on MidEast conflict; US data in focus Read More »
BENGALURU (Reuters) -India’s Axis Bank reported a bigger-than-expected rise in second-quarter profit on Wednesday, helped by strong growth in loans. The private lender’s standalone net profit climbed 10% to 58.64 billion rupees ($705.2 million) in July-September, beating expectations of 56.76 billion rupees, per LSEG data. The standalone numbers do not include the business of subsidiaries. …
India’s Axis Bank Q2 profit beats view on robust loan growth Read More »
