Reuters India Business

BENGALURU (Reuters) – India’s Eicher Motors, the maker of Royal Enfield motorcycles, posted a bigger-than-expected 48% jump in fourth-quarter profit on Thursday, helped by higher sales as demand for two-wheelers picked up. The company’s consolidated net profit rose to 9.06 billion rupees ($111 million) in the quarter ended March 31, from 6.10 billion rupees a year …

India’s Eicher Motors beats Q4 profit view as demand for two-wheelers spike Read More »

By Manoj Kumar NEW DELHI (Reuters) – The Indian government’s open e-commerce network ONDC has expanded its operations into 236 cities in the country while adding more than 36,000 merchants, a senior company official said on Thursday. The government launched the Open Network for Digital Commerce (ONDC) last year to give small businesses and retailers …

Indian government’s e-commerce network ONDC expands into 236 cities -CEO Read More »

By Siddhi Nayak MUMBAI (Reuters) – Lenders to Go Airlines (India) Ltd will classify their loans to the company as “non performing” in the current quarter, but are hopeful that the collateral backing the credit would reduce the amount of haircut they have to take, two banking sources said on Thursday. The low-cost carrier was …

Go First’s bank loans to be classified as “bad”, but has strong collaterals – sources Read More »

By Aditya Kalra NEW DELHI (Reuters) -Go Airlines (India) will need to raise funds to continue as a going concern, its newly appointed resolution professional informed staff on Thursday, according to a source with direct knowledge of the matter. The low-cost carrier, recently rebranded as Go First, was granted bankruptcy protection on Wednesday by a …

India’s Go First will need to raise funds, resolution professional quoted Read More »

BENGALURU (Reuters) – Indian low-cost carrier SpiceJet Ltd said on Thursday it had no plans to file for insolvency. (Reporting by Nandan Mandayam in Bengaluru; Editing by Sohini Goswami)

By Praveen Paramasivam CHENNAI (Reuters) -South Korea’s Hyundai Motor Co said on Thursday it will invest 200 billion rupees ($2.45 billion) in the southern Indian state of Tamil Nadu over the next 10 years, to beef up electric vehicle production in the world’s most populous country. Tamil Nadu is a hub for automobile manufacturing with …

South Korea’s Hyundai to invest $2.45 billion in Indian state Read More »

By Nikunj Ohri and Aftab Ahmed NEW DELHI (Reuters) -India’s income tax department is conducting searches at Mankind Pharma Ltd’s office in New Delhi, two government sources told Reuters on Thursday, days after the condom maker’s successful public listing on domestic stock exchanges. The company’s shares fell as much as 5.5% on the news. The …

India tax dept searches Mankind Pharma’s office -source Read More »

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee saw a muted reaction to the April U.S. inflation data, leading traders to look for new triggers to break the current narrow range. The rupee was at 81.9825 to the U.S. dollar by 10:12 a.m. IST on Thursday, barely changed from the previous session. The U.S. …

Indian rupee traders look for new triggers after subdued reaction to US inflation Read More »