Reuters India Business

CHENNAI (Reuters) -Shares of India’s Britannia Industries fell as much as 3.6% on Monday to a two-month low as analysts raised growth concerns after price cuts dragged the biscuits maker’s quarterly profits below market estimates. Britannia, which also sells cakes and breads, on Friday posted a consolidated profit of 4.58 billion rupees ($55.36 million) for …

Britannia price cuts raise growth worries, hit biscuit maker’s shares Read More »

MUMBAI (Reuters) – India’s Adani Energy Solutions has achieved financial closure for a $1 billion project to supply renewable power to India’s financial capital Mumbai, according to a statement viewed by Reuters. The banking consortium is comprised of DBS Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, Siemens Bank GmbH, Société Générale, Standard Chartered, Sumitomo Mitsui …

India’s Adani Energy Solutions gets financial closure for $1 billion project Read More »

CHENNAI (Reuters) – Restaurant Brands Asia on Monday reported a steeper first-quarter loss, as Burger King’s India operator incurred higher raw material expenses while also spending heavily on more stores. The restaurant chain’s consolidated net loss widened to 504.8 million rupees ($6.1 million) for the quarter ended June 30, from 475 million rupees a year …

Burger King’s India operator posts wider Q1 loss on higher costs Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Monday helped by a decline in U.S. yields, while traders looked for triggers that could take the currency out its current trading range. The rupee was at 82.7250 to the dollar by 10:40 a.m. IST, up from 82.84 in the previous session. The dollar …

Rupee inches up; traders wait for next big catalyst Read More »

NEW DELHI (Reuters) – Reliance Industries Ltd hopes to soon list shares of its financial services unit, Reliance Jio Financial Services Ltd, to unlock value for shareholders, the company said in its annual report. “Jio Financial Services Ltd is positioned uniquely to capture the growth opportunities in financial services sector and play a crucial role …

India’s Reliance expects to soon list shares of its financial unit Read More »

By Mayank Bhardwaj NEW DELHI (Reuters) – Indian farmers have planted 28.3 million hectares (69.9 million acres) with summer-sown rice, according to the farm ministry’s latest data, up 3.28% from the same period last year, as robust monsoon rains encouraged the expansion of acreage. Higher rice planting in India, the world’s second-biggest producer of the …

Robust rains accelerate rice planting in India Read More »

By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI (Reuters) -India is considering cutting or even abolishing a 40% import tax on wheat and lowering a limit on the amount of wheat stocks millers and traders can hold, a government official said on Friday, as part of efforts to boost supplies. “We have options like lowering …

India might cut or abolish wheat import tax to boost supply, check prices Read More »