(Reuters) – India’s Adani Cement Industries Ltd has paid back $200 million in the past week, helping pare a $1 billion loan taken from global banks to fund the purchase of Holcim AG’s Indian units, Bloomberg News reported on Friday, citing people familiar with the matter. (Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi …
Adani Cement pays back $200 million Holcim debt – Bloomberg News Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were muted on Friday, dragged by financials after Axis Bank Ltd’s weaker-than-expected March quarter result, while the uptick in beaten-down information technology stocks capped losses. The Nifty 50 was up 0.09% to 17,929.95 as of 10:56 a.m. IST, while the S&P BSE Sensex added 0.03% Eight of the …
Financials offset gains in Indian shares after Axis Bank’s earnings miss Read More »
By Deep Kaushik Vakil (Reuters) – Gold reversed course and dropped on Thursday, as the dollar gained after weaker U.S. economic readings failed to upend expectations of another interest rate hike by the Federal Reserve next week amid stubborn inflation. Spot gold was down 0.1% at $1,988.08 per ounce by 2:16 p.m. EDT (1816 GMT), …
Gold dips as rate hike bets hold despite weak data, dollar gains Read More »
BENGALURU (Reuters) – Indian cement maker ACC Ltd reported a 39.5% fall in fourth-quarter profit on Thursday, hurt by higher expenses. Standalone profit after tax fell to 2.37 billion Indian rupees ($29.00 million) for the three months ended March 31, from 3.92 billion rupees a year earlier. Cement prices have remained muted through the quarter, …
India’s ACC posts 39.5% fall in Q4 profit as expenses rise Read More »
NEW DELHI (Reuters) – India’s government said on Thursday it will invite fresh bids for quotas to import gold from the United Arab Emirates (UAE) with a concessional duty agreed under a trade pact between the two countries. The quotas are for the import of 140 tons of gold from UAE in total in the …
India to invite fresh bids for import quotas for UAE gold Read More »
(Reuters) – Tata Group-owned Indian retailer Trent posted a 65% jump in fourth-quarter revenue on Thursday, helped by robust sales at its flagship fashion retail chain Westside and budget-friendly store Zudio. Consolidated revenue rose to 21.83 billion rupees ($266.9 million) in the quarter that ended March, from 13.29 billion rupees a year ago. Like-for-like sales …
India’s Tata Group-backed Trent’s Q4 revenue jumps as fashion demand rises Read More »
By Navamya Ganesh Acharya BENGALURU (Reuters) – India’s Wipro Ltd said on Thursday its IT services revenue growth in the current quarter could be as low as 0.6% as clients cut down on discretionary spending, highlighting the near-term struggle that the country’s IT companies face. Wipros’ bigger peers Infosys Ltd and HCLTech Ltd have indicated …
India’s Wipro flags weak Q1 IT sales growth as clients cut spending Read More »
BENGALURU (Reuters) – India’s Glenmark Life Sciences Ltd said on Thursday its fourth-quarter profit surged 48%, helped by growth in its mainstay business of making active pharmaceutical ingredients (API) for drugs. The Mumbai-based drug maker’s profit rose to 1.46 billion rupees ($17.86 million) in the three months ended March 31, from 989 million rupees in …
India’s Glenmark Life Sciences says Q4 profit soars 48% on API boost Read More »
By Praveen Paramasivam CHENNAI (Reuters) -India’s Hindustan Unilever on Thursday reported a drop in fourth-quarter earnings margin after increased commodity costs overshadowed sales growth. A sharp rise in commodity costs through last year has cast a cloud over fast-moving consumer goods (FMCG) makers even as they sought to shrug off the effects via price increases …
Unilever India arm’s earnings margin shrinks on cost inflation Read More »
By Aditya Kalra NEW DELHI (Reuters) -The broadcast venture of India’s Reliance has struck a deal with Warner Bros Discovery Inc. for its streaming platform JioCinema, making a big push to bring Hollywood content onto the platform and compete against Netflix and Amazon. The deal between Reliance’s Viacom18 would see Warner Bros as well as …
India’s Reliance JV strikes content streaming deal with Warner Bros Read More »
