By Brijesh Patel (Reuters) – Gold fell on Friday, moving further away from a two-month peak hit in the last session, due to a stronger dollar and as investors remained cautious ahead of the U.S. Federal Reserve policy meeting next week. Spot gold was down 0.3% at $1,962.85 per ounce by 01:45 p.m. EDT (1745 …
Gold slips as dollar firms, focus on US Fed meet next week Read More »
(Reuters) – Italian pencils and creative tools maker F.I.L.A. said on Friday the board of its Indian unit Doms had approved an initial public offering. FILA committed to offer for sale DOMS shares worth around 90 million euros ($100.07 million), remaining the company’s single largest shareholder post IPO. The listing is expected to close by …
NEW DELHI (Reuters) -India’s aviation regulator on Friday gave its nod to Go Airlines (India) to resume operations if it can meet certain conditions, including getting interim funding and approval of its flight schedule, an order viewed by Reuters showed. The cash-strapped airline stopped flying operations in May and was granted bankruptcy protection after it …
India regulator permits Go First to resume flying with conditions Read More »
By Sethuraman N R BENGALURU (Reuters) -Reliance Industries, India’s most valuable company, reported a wider-than-expected drop in first-quarter profit on Friday, as its flagship oil-to-chemicals (O2C) business was hurt by weak demand and a steep fall in refining margins. Reliance’s O2C business is still its main growth engine that powers both profit and revenue, despite …
India’s Reliance misses profit view as oil-to-chemicals business drags Read More »
BENGALURU (Reuters) -India’s Ultratech Cement on Friday reported first-quarter profit above expectations, as strong domestic demand offset higher raw material costs. The top cement maker’s consolidated profit for the quarter ended June 30 rose 6.6%% to 16.88 billion rupees ($205.8 million) from 15.84 billion rupees a year ago. Analysts, on average, expected the company to …
India’s Ultratech Cement beats Q1 profit view on robust domestic demand Read More »
BENGALURU (Reuters) – India’s Glenmark Life Sciences reported a near-25% rise in its first-quarter profit on Friday, led by robust growth of its mainstay active pharmaceutical ingredients (API) business in domestic as well as U.S. and European markets. The Mumbai-based drug maker said profit stood at 1.35 billion rupees ($16.5 million) for the quarter ended …
India’s Glenmark Life Sciences posts 25% rise in Q1 profit on API strength Read More »
By Aditya Kalra and Nikunj Ohri NEW DELHI (Reuters) – Tiger Global, Peak XV and Steadview Capital are among 30 foreign and domestic investors asking Indian Prime Minister Narendra Modi to review a 28% gaming tax, saying the levy would adversely impact $4 billion in prospective investments, a letter showed. India last week announced the …
Global investors tell Modi plans to pump in $4 billion at risk due to gaming tax Read More »
BENGALURU (Reuters) – India’s JSW Steel Ltd reported a first-quarter profit on Friday that nearly tripled, helped by higher sales on the back of a pickup in infrastructure activity. Consolidated net profit climbed to 24.28 billion Indian rupees ($296 million) in the quarter ended June 30 from 8.39 billion rupees a year earlier, when the …
India’s JSW Steel says Q1 profit nearly triples on demand surge Read More »
BENGALURU (Reuters) – Indian commercial vehicles maker Ashok Leyland beat first-quarter profit estimates on Friday as higher demand for its buses and trucks offset a rise in expenses, sending its shares up over 3%. Standalone profit for the company, excluding the business of its subsidiaries, surged to 5.76 billion rupees ($70.22 million) in the quarter …
India’s Ashok Leyland beats Q1 estimates on higher demand Read More »
MUMBAI (Reuters) – India’s Federal Bank has raised 9.59 billion Indian rupees ($116.92 million) via preferential issues of shares to the International Finance Corporation (IFC), a member of the World Bank Group. The shares were issued at a price of 131.91 per share and were approved by the board on Friday, the bank said in …
India’s Federal Bank raises 9.59 billion rupees from IFC via preferential issue Read More »
