Reuters India Business Archives - Page 834 of 1191

Exclusive-India pharma exports soaring despite cough syrup deaths – trade body

26 Jul 2023 26 Jul 2023

By Krishna N. Das NEW DELHI (Reuters) -India’s pharmaceutical exports this fiscal year are set to grow nearly twice as fast as last year to hit sales of $27 billion, driven by strong U.S. buying, a government-backed trade body told Reuters, despite deaths linked to Indian-made cough syrups. The robust forecast comes against the backdrop …

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Gold firms on steady dollar as spotlight shifts to Fed meeting

25 Jul 2023 25 Jul 2023

By Brijesh Patel (Reuters) – Gold prices rose on Tuesday on a steady dollar and expectations the U.S. Federal Reserve will likely end its monetary tightening cycle after a widely expected rate hike this week. Spot gold was up 0.4% at $1,962.30 per ounce by 2:03 p.m. EDT (1803 GMT), while U.S. gold futures settled …

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Chubb seeks 49% of India’s Kotak General Insurance, has edge over Zurich -sources

25 Jul 2023 25 Jul 2023

By M. Sriram MUMBAI (Reuters) – U.S. insurer Chubb is in talks to acquire a 49% stake in India’s Kotak General Insurance and has become a more favoured suitor than Zurich Insurance Group, two people with direct knowledge of the discussions said. Chubb has an edge over Zurich because it is more amenable to leaving …

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India’s Tata Motors profit races past estimates on strong JLR sales

25 Jul 2023 25 Jul 2023

By Nandan Mandayam BENGALURU (Reuters) -Tata Motors, India’s largest automaker by revenue, comfortably beat quarterly profit expectations on Tuesday, helped by strong demand for its luxury Jaguar Land Rover (JLR) cars and as supply chain issues improved further. The UK-based JLR unit, which accounted for 70% of Tata Motors’ revenue, has benefited from strong demand …

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India’s Tata Steel CEO says prices to ease in Q2

25 Jul 2023 25 Jul 2023

By Neha Arora and Sethuraman N R NEW DELHI (Reuters) – India’s Tata Steel Ltd expects lower steel prices in the July-September quarter in India and Europe, aided by a fall in the prices of coking coal, a key raw material, its chief executive and managing director said on Tuesday. “In India, the Q2 (July-September) …

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India’s Delta Corp posts higher profit on sustained casino demand

25 Jul 2023 25 Jul 2023

BENGALURU (Reuters) – India’s casino operator Delta Corp reported a 19% rise in first-quarter profit on Tuesday as higher demand for casino gaming more than offset climbing costs. The Pune-based company’s consolidated net profit for the quarter ended June 30 rose to 679.1 million rupees ($8.30 million) from 571.3 million rupees a year earlier, it …

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IMF: India’s rice restrictions could fuel food price inflation

25 Jul 2023 25 Jul 2023

WASHINGTON (Reuters) – India’s move to restrict exports of certain types of rice could help exacerbate food price inflation and should be reversed, International Monetary Fund chief economist Pierre-Olivier Gourinchas said on Tuesday. Gourinchas told a news conference that India’s restriction would have a similar effect of the suspension of the Ukraine Black Sea grain …

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India’s SBI Life reports 45% rise in Q1 profit on higher premiums

25 Jul 2023 25 Jul 2023

BENGALURU (Reuters) – India’s SBI Life Insurance Co reported a 45% surge in its first-quarter profit on Tuesday, aided by higher income from premiums. SBI Life, one of India’s largest life insurers, said its profit after tax for the quarter ended June 30 rose to 3.81 billion rupees ($46.53 million) from 2.63 billion rupees, a …

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India’s Bajaj Auto posts Q1 profit jump on commercial vehicle sales; exports drag

25 Jul 2023 25 Jul 2023

By Biplob Kumar Das BENGALURU (Reuters) -India’s Bajaj Auto beat expectations on Tuesday, reporting a nearly 42% increase in first-quarter profit on robust domestic demand for its commercial vehicles even as weak exports continued to drag sales. Demand pick-up in rural areas and a prolonged wedding season in the country amid some ease in inflation …

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Domino’s India franchisee Jubilant’s profit slumps as expenses weigh

25 Jul 2023 25 Jul 2023

CHENNAI (Reuters) – Jubilant FoodWorks reported a 74% fall in quarterly profit on Tuesday as the Domino’s Pizza’s Indian franchisee grappled with higher costs while also spending heavily to expand in the country. Consolidated profit fell to 289.2 million rupees ($3.53 million) for the first quarter ended June 30, from 1.13 billion rupees, a year …

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