NEW DELHI (Reuters) – Indian wire and cable maker RR Kabel Ltd., backed by private equity firm TPG, filed for an initial public offering on Sunday, seeking to raise up to $27.53 million, according to its draft prospectus filed to India’s market regulator and seen by Reuters. RR Kabel, India’s fifth largest branded wires and …
India’s RR Kable files for IPO to raise up to $27.5 million -draft prospectus Read More »
NEW DELHI (Reuters) – Indian digital payments firm Paytm aims to become “free cashflow positive in the near future,” chief executive Vijay Shekhar Sharma said in a letter to shareholders on Sunday. “This has been possible by disciplined resource allocation and focusing on what has become our core revenue and growth driver – payments and …
India’s Paytm focused on reaching financial milestone ‘in near future’ – CEO Read More »
NEW DELHI (Reuters) – Coal India Ltd reported a 17.3% fall in fourth-quarter profit on Sunday, as the world’s largest coal miner made higher provisions for wage hikes. Consolidated net profit fell to 55.33 billion Indian rupees ($677.07 million) in the three-months ending March 31, compared with 66.93 billion rupees a year earlier, the state-run …
Coal India’s Q4 profit falls 17% on higher provisions for wage hike Read More »
NEW DELHI (Reuters) – Inflation in India is slightly above the “tolerance limit”, and the government is taking steps to control it, Indian Finance Minister Nirmala Sitharaman said on Saturday. “Because we took a very calibrated approach, today we have an inflation which is slightly above the tolerance limit, but which is constantly being worked …
India working to rein in inflation- finance minister Read More »
(Reuters) – MSCI will lower the free float of two of India’s Adani Group companies, Adani Total Gas and Adani Transmission in its May index review, the financial index provider said on Friday. MSCI now sees the Adani Total Gas’ free float at 14% and Adani Transmission at 10%, from 25%. Free float is defined …
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s market regulator will direct brokers and mutual funds to limit the use of financial influencers in advertising and marketing campaigns, according to two people with direct knowledge of the matter. A surge in retail investors in equity markets during the COVID-19 pandemic led to a proliferation of …
India regulator to tell brokers, funds to limit use of financial influencers -sources Read More »
By Arpan Chaturvedi and Siddhi Nayak NEW DELHI (Reuters) – Indian airline Go First’s effort to start insolvency proceedings has become ensnared in a tussle with aircraft lessors after they asked the aviation regulator to deregister some of its planes as a step towards taking them back. India’s first major airline collapse since 2019 underlines …
India’s Go First, lessors lock horns as bankruptcy hearings begin Read More »
By Deep Kaushik Vakil (Reuters) – Gold beat a fast retreat on Friday after stronger-than-expected U.S. payrolls data tempered expectations of interest rate cuts from the Federal Reserve. Spot gold lost 1.7% to $2,015.33 per ounce by 1:40 p.m. EDT (1740 GMT), but was up 1.3% for the week after surging to $2,072.19 on Thursday, …
Gold slides on US jobs growth as Fed-led rally fizzles Read More »
BENGALURU (Reuters) – Indian digital payments firm Paytm reported a 51.5% rise in fourth-quarter revenue on Friday, aided by a surge in loan growth, and posted an operating profit for a second consecutive quarter. Paytm’s parent, One 97 Communications Ltd, said revenue rose to 23.35 billion rupees ($285.80 million) in the January-March quarter, from 15.41 …
India’s Paytm Q4 revenue up 52%, posts operating profit for second straight quarter Read More »
(Reuters) – Indian airline Go First said on Friday it is cancelling its flights until May 12, days after the cash-strapped company filed for bankruptcy. Earlier on Tuesday, the airline blamed “faulty” Pratt & Whitney GTF engines for the grounding of about half its fleet leading to the bankruptcy filing. The owner of Go Airlines …
