BENGALURU (Reuters) -India’s Reliance Industries on Friday said it would hold its much-anticipated annual general meeting of shareholders on Aug. 28, where it is expected to give details on the listing of the recently spun-out Jio Financial Services (JFS). Last month, Reliance demerged JFS, which was valued at around $20 billion after its stock price …
India’s Reliance Industries to hold AGM on Aug. 28 Read More »
MUMBAI (Reuters) – India’s insurance regulator has allowed insurance companies to classify debt securities of HDFC Ltd under the ‘housing and infrastructure’ category, it said in a notification on Friday. HDFC Ltd was merged with HDFC Bank on July 1, following which debt securities of the housing financier had been transferred to the bank. Insurance …
India insurance regulator allows exemptions for holdings in merged HDFC Bank Read More »
BENGALURU (Reuters) -Mahindra and Mahindra on Friday posted an estimate-beating 98% jump in first-quarter profit, boosted by strong sales of its pricier sport-utility vehicles (SUVs). The results for Mahindra – India’s second-largest SUV maker by volume – were in line with rivals Maruti Suzuki and Tata Motors, which also posted higher-than-expected profits on the back …
India’s Mahindra Q1 profit nearly doubles on higher SUV sales Read More »
BENGALURU (Reuters) – Indian drugmaker Alembic Pharmaceuticals posted first-quarter profit on Friday, boosted by strong sales in its domestic and U.S. markets. The Vadodara-based company said consolidated profit rose to 1.21 billion rupees ($14.6 million) for the quarter ended June 30 from a loss of 658.8 million rupees a year earlier. Revenue from its India …
India’s Alembic Pharma posts Q1 profit on strong sales Read More »
By Siddhi Nayak MUMBAI/BENGALURU (Reuters) -State Bank of India, the country’s largest lender, on Friday reported a near three-fold jump in first-quarter profit, led by a surge in net interest income, healthy loan growth and lower provisions. Net profit was at a record 168.84 billion rupees ($2.04 billion) for the quarter ended June 30, compared …
State Bank of India Q1 profit nearly triples to all-time high Read More »
BENGALURU (Reuters) – India’s JK Tyre & Industries on Friday reported a more than four-fold jump in first-quarter profit, boosted by lower input costs and strong demand for vehicles. Consolidated net profit was 1.54 billion rupees ($18.6 million) for the quarter ended June 30, compared with 372 million rupees a year earlier. Revenue from operations …
India’s JK Tyre posts four-fold jump in profit on lower costs, strong demand Read More »
By Shivangi Acharya and Munsif Vengattil NEW DELHI (Reuters) – Applied Materials wants its suppliers from Europe, Japan and elsewhere to set up operations in India, as the semiconductor toolmaker works to expand the local supply chain, its India head told Reuters. India is a key market for U.S.-based Applied Materials where the firm plans …
Applied Materials works to bring global suppliers to India Read More »
By Navamya Ganesh Acharya and Praveen Paramasivam BENGALURU/CHENNAI (Reuters) – India’s Devyani International reported an 84% slump in its quarterly profit on Friday as the domestic operator of Pizza Hut and KFC restaurants was swamped by higher expenses and tepid currency in key market Nigeria. Consolidated net profit fell to 117.6 million rupees ($1.42 million) …
KFC operator Devyani International profit slumps on expenses, weak currency Read More »
BENGALURU (Reuters) -India’s Ministry of Corporate Affairs (MCA) is examining irregularities in Zee Entertainment Enterprises as alleged by the market regulator, ET Now reported on Friday. The MCA has taken cognizance of the Securities and Exchange Board of India’s (SEBI) interim order which alleged bogus book entries and siphoning of funds, and is probing lapses …
Indian ministry examines market regulator’s allegations against Zee – ET NOW Read More »
BENGALURU (Reuters) -Zomato shares surged to a one-and-a-half-year high on Friday after the Indian food delivery company turned in an ahead-of-schedule quarterly profit in a sign it was on the path to sustained earnings growth. After posting net losses in each of the eight quarters since it went public in late 2021, Zomato reported a …
India’s Zomato surges to 1-1/2 year high on promise of profits Read More »
