By Bharath Rajeswaran and Sethuraman N R BENGALURU (Reuters) -Indian shares declined on Thursday, led by financials, after the Reserve Bank of India (RBI) held its key rates steady for the third consecutive time as expected while raising its inflation forecast. The Nifty 50 index was down 0.47% at 19,539.15, while the S&P BSE Sensex …
Financials lead slide in Indian shares as RBI keeps rates unchanged Read More »
By Brijesh Patel (Reuters) – Gold prices slipped on Wednesday as investors stayed on the sidelines ahead of key U.S. inflation data that could offer more cues on the Federal Reserve’s stance on monetary policy. Spot gold was down 0.5% at $1,915.98 per ounce by 1:57 p.m. ET (1757 GMT), lowest since July 10. U.S. …
Gold struggles for traction as traders await US inflation report Read More »
(Reuters) – WeWork’s warning of a bankruptcy risk would not have an impact on its India unit, regional CEO Karan Virwani said on Wednesday. New York-based WeWork, which was valued at $47 billion in 2019, on Tuesday raised “substantial” doubt around the continuance of its operations and warned of a possible bankruptcy. WeWork India, which …
WeWork’s bankruptcy warning to not impact India unit Read More »
BENGALURU (Reuters) – Abbott India, the Indian arm of U.S. healthcare firm Abbott Laboratories, reported a 41% rise in its first-quarter profit on Wednesday, driven by strong sales in its mainstay pharmaceuticals segment. The company, which makes pain-reliever ibuprofen under the brand name Brufen, said its profit rose to 2.90 billion rupees ($35.02 million), compared …
Abbott India posts 41% rise in Q1 profit on strong sales Read More »
BENGALURU (Reuters) – India’s Axis Bank on Wednesday said it will raise its stake in insurer Max Life to 16.2% from 9.99% by infusing 16.12 billion rupees ($194.6 million) through a preferential allotment of shares. Axis Bank along with its entities acquired a 12.99% stake in Max Life in 2021, and through this new investment …
India’s Axis Bank to raise stake in Max Life via 16.12 billion rupee investment Read More »
BENGALURU (Reuters) – Zee Entertainment Enterprises reported a quarterly loss on Wednesday, hurt by weak demand for advertisements, while expenses surged. The broadcaster, which is closing in on a merger with the India unit of Japan’s Sony Group, posted a consolidated net loss of 534.2 million rupees for the first quarter ended June 30, against …
India’s Zee Entertainment swings to Q1 loss on weak advertising, higher costs Read More »
BENGALURU (Reuters) -Indian merchandise retailer and hypermarket operator Trent on Wednesday beat first-quarter revenue estimates, aided by an increase in footfalls and store expansion. Consolidated revenue rose nearly 46% year-on-year to 26.28 billion rupees ($317.4 million) for the quarter ended June 30, compared to analysts’ estimate of 22.81 billion as per Refinitiv data. Like-for-like sales …
India’s Trent beats Q1 revenue view on higher footfalls Read More »
Bengaluru (Reuters) – India’s biggest winemaker Sula Vineyards reported a 24.4% rise in first-quarter profit on Wednesday, helped by strong demand for its premium wines and increased footfall at its vineyards. The Mumbai-based company, which became India’s only listed winemaker in December last year, said its consolidated net profit stood at 136.8 million rupees ($1.65 …
India’s Sula Vineyards posts Q1 profit rise on premium wine demand Read More »
By Nimesh Vora MUMBAI (Reuters) – Trading volumes and speculative interest in the Indian rupee plummeted over the last several months, as the central bank held the currency in a narrow range, leaving traders with little conviction on future direction. The open interest on USD/INR currency futures on the National Stock Exchange (NSE) declined more …
Indian rupee’s trading volumes, speculative interest plunge as cenbank holds tight Read More »
BENGALURU (Reuters) – Kalyan Jewellers India reported on Wednesday a 33% surge in its first-quarter profit, underpinned by premium pricing and improved demand during the festive season. The jewellery retailer’s profit came in at 1.44 billion rupees ($17.39 million) for the three-month period ended June 30. Demand for gold usually stays strong in April as …
India’s Kalyan Jewellers quarterly profit surges on seasonal demand Read More »
