By Deep Kaushik Vakil (Reuters) – Gold advanced on Monday on a weaker dollar as traders stuck to bets on interest rate cuts before year-end despite comments from Federal Reserve officials, with focus also on the U.S. debt ceiling talks. Spot gold was up 0.4% at $2,019.37 per ounce by 1:40 p.m. EDT (1740 GMT), …
Gold gains on dollar pullback, debt-ceiling talks in focus Read More »
By Arpan Chaturvedi and Jayshree P Upadhyay (Reuters) -India’s market regulator told the Supreme Court on Monday that any incorrect or premature conclusion of its investigation into the Adani group’s possible lapses of regulatory disclosures will be “legally untenable” and not “serve the ends of justice”. The Securities and Exchange Board of India (SEBI), in …
India regulator warns on premature conclusion to Adani probe – filing Read More »
BENGALURU (Reuters) – Pfizer Ltd, the Indian unit of U.S. pharmaceutical group Pfizer Inc, on Monday reported a 3.1% rise in fourth-quarter profit, helped by lower raw material expenses. Net profit for the quarter ended March 31 rose to 1.30 billion rupees ($15.90 million) from 1.26 billion rupees a year ago, while revenue rose 4.2%. …
BENGALURU (Reuters) – Multiplex operator PVR INOX Ltd reported a quarterly loss of 3.33 billion rupees ($40.72 million) on Monday, hit by one-time impairment charges and expenses related to the planned shutdowns of some cinemas. The company, formed by the merger of India’s top two multiplex operators earlier this year, said it took an accelerated …
PVR INOX posts Q4 loss on costs related to some cinema closures Read More »
By Aditi Shah and Shivangi Acharya NEW DELHI (Reuters) – Indian carmakers have agreed to eliminate import tax on a limited number of vehicles in a trade deal with Britain “if the need arises”, according to a document seen by Reuters, offering better access to the world’s third-largest automobile market. India currently levies 70% and …
India’s carmakers back zero duty on limited British imports under trade deal – sources Read More »
BENGALURU (Reuters) – Indian agricultural chemicals maker Coromandel International Ltd reported a 15% fall in its quarterly profit on Monday, as soaring costs offset growing demand. Consolidated net profit after tax for the quarter rose to 2.46 billion rupees ($30.08 million), compared with 2.9 billion rupees a year earlier. Revenue from operations rose nearly 30% …
India’s Coromandel International posts 15% drop in Q4 profit as costs rise Read More »
(Reuters) -Shares of Avenue Supermarts Ltd, which operates the DMart retail chain, fell 4.7% on Monday after the company’s fourth-quarter profit missed estimates and core profit margin contracted as consumers curbed discretionary spending. DMart, which faces intense competition from Reliance Industries Ltd and is known for discounts on everything from pulses to clothes, has seen …
India’s DMart slumps nearly 5% on profit miss, margin drop Read More »
BENGALURU (Reuters) – Indian resources conglomerate Vedanta Ltd on Monday named Holcim AG executive Sonal Shrivastava as its new chief financial officer, effective June 1. The move comes as Vedanta’s parent, Vedanta Resources, tries to trim its debt amid concerns over its ability to meet financial obligations. It also follows a lapse in Hindustan Zinc …
India’s Vedanta names Holcim exec Sonal Shrivastava as CFO Read More »
NEW DELHI (Reuters) -India’s annual wholesale price index (WPI) fell for the first time in nearly three years in April, as prices softened across the board. WPI fell by 0.92% from the same month a year earlier, having risen 1.34% in March. The data compared with a Reuters poll that predicted a fall of 0.20%. …
India’s WPI falls for first time in 3 years in April Read More »
MUMBAI (Reuters) – India’s headline retail inflation in May is likely to fall further towards 4% — the midpoint of the central bank’s target and a level last seen in January 2021, according to a few economists, who expect lower food prices to aid the decline. India’s consumer price inflation (CPI) eased to an 18-month …
India’s retail inflation may ease to cenbank’s 4% target in May -economists Read More »
