By Ashitha Shivaprasad (Reuters) – Gold extended gains on Friday and headed for a second consecutive weekly gain, as fears of a further escalation in the Middle East conflict fed bullion’s safe-haven appeal. Spot gold was up 0.3% at $1,979.39 per ounce by 3:04 p.m. ET (1904 GMT), after hitting its highest since May earlier …
Mideast turmoil pushes safe-haven gold to second weekly rise Read More »
BENGALURU (Reuters) – Indian power producer JSW Energy on Friday reported a near 83% rise in second-quarter profit, boosted by a surge in power demand and fall in fuel costs. The company, part of billionaire Sajjan Jindal-led JSW Group, saw its consolidated net profit rise to 8.50 billion rupees ($102.29 million) in the quarter ending …
India’s JSW Energy Q2 profit jumps 83% on power demand surge Read More »
By Dimpal Gulwani BENGALURU (Reuters) -Indian digital payments firm Paytm posted an operating profit for the fourth straight quarter on Friday, helped by steady loan growth at its financial services business. Paytm, one of the country’s first startups to go public, said revenue increased 32% to 25.19 billion rupees ($300.96 million) in the second quarter, …
India’s Paytm gets Q2 results boost from strong loan growth Read More »
BENGALURU (Reuters) -India’s Kajaria Ceramics reported weaker-than-expected second-quarter profit on Friday, hurt by sluggish domestic demand for tiles. Consolidated net profit was 1.08 billion rupees ($13.00 million) in the quarter ended Sept 30, missing analysts’ expectations of 1.22 billion rupees, according to LSEG data. It had earned 698.6 million rupees a year earlier when it …
India’s Kajaria Ceramics misses Q2 profit view hit by weak tile demand Read More »
By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee logged its biggest one-day advance in three weeks against the dollar on Friday, helped by likely central bank intervention in the spot and non-deliverable forward markets, which traders described as aggressive. The rupee ended at 83.1225 to the U.S. dollar, compared with a close of 83.2450 …
Rupee logs best day in 3 weeks on likely ‘aggressive’ cenbank intervention Read More »
BENGALURU (Reuters) – The Adani Group on Friday said it had secured a fresh loan facility of $3.5 billion to refinance the debt taken for the acquisition of ACC and Ambuja Cements last year. (Reporting by Nandan Mandayam in Bengaluru)
BENGALURU (Reuters) – India’s Glenmark Life Sciences reported an 11.1% rise in second-quarter profit on Friday, led by strong growth in its mainstay active pharmaceutical ingredients (API) business in domestic as well as U.S. and European markets. The Mumbai-based drugmaker said its profit rose to 1.19 billion rupees ($14.3 million) for the quarter ended Sept. …
India’s Glenmark Life Sciences posts Q2 profit rise on API boost Read More »
By Siddhi Nayak and Swati Bhat MUMBAI (Reuters) – India’s central bank is currently not looking to tweak existing norms related to banks’ unsecured lending portfolios as a sector-wide buildup of stress is not yet in sight, two people familiar with the matter told Reuters. Indian banks have seen a sharp rise in unsecured loans …
Indian cenbank not looking to tighten banks’ unsecured lending norms – sources Read More »
By Neha Arora and Nikunj Ohri NEW DELHI (Reuters) – India is not planning to impose any measures to curb imports or investments from Canada, despite simmering diplomatic tensions between the two countries, two senior government sources in New Delhi said. Ties between New Delhi and Ottawa deteriorated sharply after Prime Minister Justin Trudeau said …
Simmering tensions between India and Canada not to imperil trade, investments – sources Read More »
NEW DELHI (Reuters) – India’s monetary policy needs to stay focused on slowing inflation, Shaktikanta Das, the governor of the Reserve Bank of India said on Friday, noting the uncertain outlook for food and oil prices. “In the current situation, monetary policy must remain actively disinflationary to ensure that ongoing disinflation process progresses smoothly,” Das …
India’s monetary policy must remain ‘actively disinflationary’ – RBI governor Read More »
