By Rajendra Jadhav MUMBAI (Reuters) – Indian gold demand in the March quarter fell 17% to the lowest level in 10 quarters and is likely to remain subdued even during June and September quarters on record-high prices, the World Gold Council (WGC) said on Friday. The lower purchases in the world’s second-biggest gold consumer could …
Record gold prices to dampen Indian demand in June, Sept quarters -WGC Read More »
By Bharath Rajeswaran BENGALURU (Reuters) – Foreign portfolio investors (FPIs) were net buyers of Indian equities in April, the first month of the new financial year, National Securities Depository Ltd (NSDL) data showed on Friday. GRAPHIC – FPI buying in Indian shares hits 5-month high in April https://www.reuters.com/graphics/FPI-APRIL/APRIL-FPI/egpbyeyqevq/chart.png FPIs purchased shares worth 116.31 billion Indian …
Stable macro data, earnings trigger FPI buying in Indian shares in April: NSDL Read More »
MUMBAI (Reuters) – Indian non-bank lender Manappuram Finance Ltd, in a notification to stock exchanges on Friday, clarified that the enforcement action against its promoter is not linked to affairs of the listed entity. On Thursday, the Enforcement Directorate, India’s financial crime fighting agency, said that it has frozen assets worth 1.43 billion rupees ($17.50 …
India’s Manappuram Finance says enforcement action against promoter, not company Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares declined on Friday, dragged by high-weightage financials and weak global cues, after the European Central Bank hiked rates and fears over the U.S. banking sector worsened with the collapse of PacWest Bancorp. The Nifty 50 was down 0.26% at 18,208.70 as of 10:40 a.m. IST, while the S&P …
HDFC, HDFC Bank weigh on Indian shares amid weak global cues Read More »
BENGALURU (Reuters) – Tata Power Co Ltd on Thursday reported a roughly 55% rise in fourth-quarter profit, as increased electricity output ahead of summer boosted its transmission and distribution segment. Consolidated net profit increased to 7.78 billion rupees ($95.2 million) in the three months ended March 31, compared with 5.03 billion rupees a year earlier, …
India’s Tata Power posts 55% profit jump on strong distribution growth Read More »
By Seher Dareen (Reuters) – Gold made another run toward record highs on Thursday as U.S. banking concerns accelerated a flight to the safe-haven asset and sustained its stellar rally driven by bets for a pause in U.S. rate hikes. Spot gold was up 0.3% at $2,045.79 per ounce by 1:40 p.m. EDT (1740 GMT) …
Gold flirts with all-time highs as banking concerns deepen Read More »
By Tanvi Mehta NEW DELHI (Reuters) -Dozens of pilots, many from crisis-hit Go First, flocked to a Tata group hotel near Delhi on Thursday for walk-in interviews with the conglomerate’s Air India airline. Go First’s announcement on Tuesday that it had filed for bankruptcy as demand for post-pandemic air travel in the world’s most populous …
Disheartened Go First pilots rush to Air India’s jobs drive Read More »
BENGALURU (Reuters) – India’s United Breweries Ltd reported a 94.03% slide in fourth-quarter profit on Thursday, hurt by higher raw material costs. The liquor maker, partly owned by the Dutch brewer Heineken, said its standalone profit fell to 97.3 million rupees ($1.19 million) in the three months ended March 31, from 1.63 billion rupees a …
India’s United Breweries posts slump in Q4 profit on higher input costs Read More »
(Reuters) – Indian tyremaker CEAT Ltd reported a more-than-five-fold increase in its fourth-quarter profit on Thursday, aided by low raw material costs and strong domestic demand. CEAT’s consolidated net profit rose to 1.34 billion rupees ($16.40 million) in the three months ended March 31, from 252.5 million rupees a year ago. Analysts, on average had …
India’s CEAT reports five-fold jump in Q4 profit on lower raw material costs Read More »
By Sarita Chaganti Singh and Sudarshan Varadhan NEW DELHI/SINGAPORE (Reuters) – India plans to stop building new coal-fired power plants, apart from those already in the pipeline, by removing a key clause from the final draft of its National Electricity Policy (NEP), in a major boost to fight climate change, sources said. The draft, if …
Exclusive-India amends power policy draft to halt new coal-fired capacity – sources Read More »
