By Bharath Rajeswaran and Anisha Ajith BENGALURU (Reuters) -Indian shares fell on Tuesday as caution reigned ahead of crucial data due through the week, including inflation reading from the United States and a policy decision by India’s central bank. The Nifty 50 index settled 0.13% lower at 19,570.85, while the S&P BSE Sensex fell 0.16% …
Indian shares slip in run up to key data, RBI policy Read More »
BENGALURU (Reuters) – India’s Hindalco Industries, one of the country’s largest aluminium and copper producers, reported a 40% fall in first-quarter profit on Tuesday as softer volumes and weak metal prices weighed. The company’s consolidated net profit fell to 24.54 billion rupees ($296.4 million) in the quarter ended June 30 from 41.19 billion rupees a …
India’s Hindalco posts 40% slump in Q1 profit on weaker volumes, metal prices Read More »
By Bhakti Tambe MUMBAI (Reuters) – A growing number of Indian alternative investment funds are expanding their private credit business, filling a void left by banks and non-bank lenders and mirroring a pick-up in activity across Asia. Private credit funds typically invest in debt or hybrid securities of unrated and lower-rated companies. Kotak Alternate Assets …
Indian private credit funds rush to fill gap left by banks Read More »
BENGALURU (Reuters) – Indian bike maker Hero MotoCorp on Tuesday said it received over 25,000 bookings for the world’s cheapest Harley Davidson motorcycle, sending shares up over 3%. The company said 65% of the bookings for the X440 were for the motorcycle’s top-end variant, priced at 269,000 rupees. Hero, the world’s largest motorcycle maker by …
Hero MotoCorp receives over 25,000 bookings for India-made Harley-Davidson Read More »
By Brijesh Patel (Reuters) – Gold prices were on the backfoot on Monday after Federal Reserve Governor Michelle Bowman indicated that additional interest rate hikes would likely be needed to rein in inflation. Spot gold was down 0.3% at $1,936.44 per ounce by 03:28 p.m. EDT (1928 GMT). U.S. gold futures settled 0.3% lower at …
Gold slips as comments from US Fed governor dent sentiment Read More »
By Jayshree P Upadhyay BENGALURU (Reuters) -India’s markets regulator plans to change its rules to force unlisted companies to make more disclosures, including on related-party and financial transactions at the group, or conglomerate level, the regulator said on Monday. Private companies in India are not required to make rigorous disclosures related to their financials or …
India markets regulator plans more disclosures for conglomerates, unlisted firms Read More »
BENGALURU (Reuters) – Qatar Investment Authority (QIA) likely picked up shares worth $500 million in India’s Adani Green Energy via block deals on Monday, ET Now reported, citing sources. Over 1.1 million shares of the Adani Group-owned renewable power producer changed hands in fourteen block deals as of 2 p.m. IST, as per data from …
QIA likely picks up shares worth $500 million in India’s Adani Green – report Read More »
By Munsif Vengattil BENGALURU (Reuters) – Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview. Meesho competes with Amazon and Walmart’s Flipkart in India’s fast-growing e-commerce market, with its website becoming popular by targeting smaller …
Indian e-commerce startup Meesho posts first-ever profit, plans IPO in 12-18 months Read More »
BENGALURU (Reuters) – India’s MedPlus Health Services reported a 18.3% rise in first-quarter profit on Monday as increased presence of the pharmacy helped drive its retail sales. The company’s consolidated net profit rose to 37.9 million rupees ($458,277.41) in the three months ended June 30, from 32 million rupees, a year earlier. MedPlus Health was …
India’s MedPlus Health reports 18% rise in Q1 profit on retail demand Read More »
BENGALURU (Reuters) – India’s Godrej Consumer Products reported a lower-than-expected quarterly profit on Monday, hurt by mounting costs. Consolidated net profit fell nearly 8% to 3.19 billion rupees ($38.57 million) for the first quarter ended June 30, the owner of the Cinthol soap brand said in an exchange filing. Analysts, on average, had expected the …
India’s Godrej Consumer Products misses Q1 profit view as costs bite Read More »
