Reuters India Business

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee settled little changed on Thursday as likely aggressive dollars sales from the central bank countered the impact of the global risk aversion triggered by the escalating conflict in the Middle East. The rupee ended at 83.2450 to the U.S. dollar against 83.2575 in the previous session. …

Rupee ends flattish, likely aggressive intervention helps avert record low Read More »

(Corrects headline to say “SoftBank”, not “Softbank”) BENGALURU (Reuters) – SoftBank’s venture capital fund SVF Growth, Singapore, will sell a 1.1% stake in Indian food delivery firm Zomato for 10.24 billion rupees ($123.24 million), CNBC TV-18 reported on Thursday, citing sources. ($1 = 83.0928 Indian rupees) (Reporting by Manvi Pant in Bengaluru; Editing by Sonia Cheema)

BENGALURU/CHENNAI (Reuters) -India’s ITC reported a smaller-than-expected rise in its second-quarter profit on Thursday, as the consumer goods major grappled with stiff competition from smaller rivals and higher prices of some commodities. Smaller operators took advantage of a drop in prices of some raw materials used in the consumer goods sector including milk, barley and …

India’s ITC misses profit estimates as competition, costs rise Read More »

MUMBAI (Reuters) – The Reserve Bank of India (RBI) sold a net $3.86 billion in the spot foreign exchange market in August, according to data released on Thursday as part of the central bank’s monthly bulletin.    The RBI said it purchased $500 million and sold $4.36 billion during the period. In July, the central bank …

India cenbank sold net $3.86 billion in spot forex market in August – bulletin Read More »

By Swati Bhat and Siddhi Nayak MUMBAI (Reuters) – Growth in India is expected to further strengthen in coming months while inflation is moderating from its peak and will bolster macroeconomic fundamentals, the Reserve Bank of India’s October bulletin, published on Thursday, showed. “Growth is expected to gain momentum through the rest of the year, …

Growth in India seen gaining momentum through rest of FY24 – RBI bulletin Read More »

BENGALURU (Reuters) – Shares of Bajaj Auto rose as much as 5.6% to a record high on Thursday after the company reported a better-than-expected quarterly profit as cost cuts and better sales of high margin three-wheelers helped, while analysts signaled a recovery in its exports business. The maker of the popular “Pulsar” range of motorcycles …

India’s Bajaj Auto shares hit record high as three-wheelers drive Q2 profit beat Read More »

BENGALURU (Reuters) -India’s UltraTech Cement on Thursday reported a 69.5% rise in second-quarter profit, boosted by higher demand in the infrastructure and real estate segment. The company reported a consolidated net profit of 12.81 billion rupees ($153.8 million) for the quarter ended Sept. 30, while revenue grew 15.3% to 160.12 billion rupees. The company earlier …

India’s UltraTech Cement posts 70% rise in Q2 profit on strong domestic demand Read More »